This is a guest post from Hayley Richardson, a.k.a ‘The Blog Whisperer’
A wise woman once said It’s a beautiful thing when a passion and a career come together. I wholeheartedly agree! When passion and profit are the key ingredients, making money doing work you love is an incredibly beautiful thing, friend. So many of my blog post ideas come from sessions with clients, and this one’s no exception. Nearly every client I’ve seen so far, understandably, has wondered how to make money from blogging. And why not?
When you’re running an online business, it’s a great idea to consider multiple income streams to generate income. It could be a combination of coaching and digital products, sponsored posts and advertising, or coaching, affiliates and sponsored posts – the combinations are endless! Diversifying your income streams creates somewhat of a security blanket: If one stream changes, you’ll still have others in place to ensure your income is stable.
Of course, when you’re first starting your blog you don’t need to have multiple – or any – income streams if you don’t want to (it can be a little overwhelming if you try to launch yourself straight in). In fact, many great blogs are first built on solid relationships between the blogger and reader, where the blogger mightn’t monetise their blogs for up to a year or more. It takes time to build up a loyal audience, so if you’re just getting started, please be patient with yourself! When the time is right for you, there are plenty of options for you
So with the question ‘How can I make money from blogging’ in mind, I’ve curated 5 proven methods for you to explore:
[fontawesome_icon icon=”fa fa-edit” size=”2x” shape=”normal”] Sponsored posts
A sponsored post is when a brand and a blogger collaborate to share a product with the blogger’s audience. A brand may approach you with a product they’d like you to review or share with your audience, in exchange for free product or payment.
[fontawesome_icon icon=”fa fa-edit” size=”2x” shape=”normal”] Affiliates
Affiliate marketing is a great way to share other people’s products you love and get paid for doing so. If you’re an affiliate for a product, you will sign up or be given an affiliate link (a link with a unique tracking code) and when people click on your link and purchase the product, you’ll receive a cut of the pay. You can be an affiliate for just about anything – eBooks, eCourses, coaching programs, technology and software. The trick is to share products you truly believe in and would recommend regardless, otherwise your audience will sense the disconnect from a mile away.
To share affiliate products with your community, you can include linked pictures in your sidebar, write reviews on your blog, share a heads up in your newsletter, create a ‘Things I Love’ page on your blog and share over social media.
[fontawesome_icon icon=”fa fa-edit” size=”2x” shape=”normal”] Advertising
There are two options to consider when you’re looking to display advertising on your blog. The first, is via Google AdSense – which I’ve heard very few people use and like. The reason is that the ads aren’t necessarily targeted to your audience. The second alternative is to sell advertising space yourself, in the form of ad placement on your sidebar. In general, to get other parties interested you will need approximately 10,000 unique visitors per month. Simply creating an offer and pitching to blogs or businesses who will pay to be featured in front of your audience can generate hundreds, or even thousands per month. You can use a company called buysellads.com, to do this, which makes the process easy. Honestly, the results will be different for every blog, but this seems to be the number that signals to buyers that you’ve ‘made it’!
[fontawesome_icon icon=”fa fa-edit” size=”2x” shape=”normal”] Coaching
At this point in time, coaching is the only way I make consistent money from my blog. I’m personally from the school of KISS – I like to move slow and steady and don’t like to tackle too many things at once, so I’m not currently pursuing any other real forms of income at this point in time. If you happen to be a coach, promoting your coaching packages to your community can be one of the fastest ways to start making money from your blog.
As a (very) general rule in the online world, you can expect to make approximately 2% in sales from any given offering. I’m no mathematician, but stay with me for a sec! If you have a community (email list) of approximately 1000 people, and you’re selling a digital eBook for $20, 2% of your list 0f 1000 is 40 people right? That means, if you have an ‘average’ email list and an ‘average’ launch, you might expect to sell 40 x $20 eBooks, and stand to make about $800 (this figure can be very arbitrary, and for bloggers who build solid personal relationships with their community may have a much higher sales rate) so if the numbers scare you, please don’t let them hold you back. If you consider though, for one minute, that you have a 6 week coaching package for $600 and you use smart marketing to attract even half of the number of sales (say signing on 20 new clients at $600) then you’ll have made approximately $12,000. Again, the figure itself can be arbitrary, and demand at first may be lower or higher.
[fontawesome_icon icon=”fa fa-edit” size=”2x” shape=”normal”] Digital products
As I mentioned above, in general, the *average* sales conversion figure is approximately 2%. If you’re a blogger who loves creating digital products like eBooks and eCourses or has a dream to do so, this may be another way you may like to consider diversifying your income stream.
You can try selling digital products early as you like, though keep in mind selling smaller scale products usually requires a large volume of traffic with a great marketing funnel and/or a large email list to generate any significant revenue. To do this, you will need quite a large audience – usually in the tens of thousands of unique visitors per month or an email list with the same. If we use the example from above, and say you have an email list of about 10,000, when you launch a $20 eBook, you might expect to sell 200 eBooks, and generate $4000 in revenue. If you have a really engaged community however, and perhaps say your sales convert at 5% instead, that number would increase to $10,000. Key lesson? Building trusting and meaningful relationships with your tribe will put you in great stead.
Creating digital products is not all about the money for some either, so if you’re blogging purely for the love of it until you do gain some real traction, don’t let the money or numbers side of blogging hold you back from creating work you love! Getting creative with your passion project is one of the most rewarding pasttimes, and I’d highly recommend sinking your teeth into one, regardless of where you’re at. Use this knowledge as fuel to propel you forward – to help you plan your blog posts more intentionally, and set up timelines to help you achieve your ‘number goals’. And of course, always keep in mind the more purposefully and intentionally your blog remains, the more your people will likely hang around and the faster your tribe will grow. Quality over quantity, always.
So these are 5 proven ways to make money from blogging – and I hope they’ve inspired you to dream a little bigger!
In the comments, please share:
- Do you monetise your blog? If so, how?
- Do you have any additional tips for our community? Please share below!
Thanks for sharing your thoughts in the comments.
Your personal insights on this topic may really help others the community!
P.S. If you found this article helpful, please ‘click to share’ it with all of your friends below and help other bloggers find ways to make money from their passions!
Artistic, free-spirited and full of heart, Hayley Richardson is The Blog Whisperer. With self-awareness, self-expression, strategy and soul as her guiding light, she helps creative and spirited blogpreneurs hone their message and reach more people with their mission.
Need to move from confusion and uncertainty into clear communication with a purpose? Join the tribe at HayleyRichardson.co and breathe life back into your online home.