How to Make Money Blogging with affiliate marketing
So, you want to make money blogging with affiliate marketing?
Yea, of course you do. Cha-ching!
After all, there is no other career that is as lifestyle-friendly as being a blogger. You get to work from home, set your own hours, and have the opportunity to make a difference in people’s lives. In other words, blogging has it all.
But, can you really make a full-time living as a blogger? And if so, what is the best way to make money?
In this post, I will be discussing 4 ways online entrepreneurs make money from their blogs.
If you are just starting out, affiliate marketing should be your go to method of monetizing your blog. Affiliate marketing is a type of performance based marketing in which you sell products and/or services of another company. Preferably, of a company that you support.
Let me explain to you how affiliate marketing works. So, a company has a product and/or service that they want you to sell. That company agrees to give you a commission of each sale that you make through your website. You are given a unique link that you include on your website. You are also given a set of banner ads that you can include on your website. When someone clicks on any of these affiliate links (or banners), the affiliate software tracks whether or not a buyer has made a purchase through your website. If a buyer decides to purchase a product and/or service from your website, you get a commission of the sale.
The amount of money you make with affiliate marketing depends on two things. The first being the number of items you sell and the second being the cost of the item itself.
For example, the amazon affiliate program pays 4% starting out. You can either sell a $10 book, in which case you’ll make $0.40, or you can sell a $1,849 Macbook Pro, in which case you’ll make $73.96.
When it comes to affiliate marketing, I think it’s pretty clear from the example above that you should go for the big rewards if you want this method of monetizing your blog to succeed.
If you want to learn more about how to succeed with affiliate marketing, I suggest taking the Making Sense of Affiliate Marketing course offered by Michelle Schroeder-Gardner.
If you implement all of the strategies learned in this course, you will be well on your way to making money with affiliate marketing.
Display ads on your website
Displaying ads is another very common way of monetizing your website. These ads are typically placed in the sidebar or within the content of your blog posts.
The ads placed on your website should be relevant and of interest to the readers. You wouldn’t want to place a fashion ad on a health blog, would you?
Of course not. Fashion ads are not relevant to the health conscious community. Your readers may not even click on ads that they deem irrelevant.
Ads from ad networks
The ads you place on your website can be provided through Ad networks, such as Google AdSense. With ad networks, you don’t need to go out and find people interested in advertising on your blog. You can simply sign up for one of these Ad networks and they will connect you to people interested in advertising.
Private ads are another way to monetize your website. Unlike ads from ad networks, private ads are arranged directly between the blogger and the person looking to advertise on your blog.
If you want to sell private ad space, you may want to consider adding an advertising page on your website. However, don’t expect advertisers to come directly to you. You should reach out to advertisers and ask them if they would like to place an ad on your website. You do need to sound convincing for this method to work, so it may be wise to build an audience first before going the private ad route.
Most bloggers would rather not spend their time contacting potential advertisers. For this reason, ad networks are a more popular choice among bloggers.
Selling your own digital products can be a great addition to your stream of blogging income. I would suggest building an audience first before deciding to create a digital product. If you want to create a successful digital product, remember that the product you create should be relevant and useful to the readers of your blog.
Writing ebooks is a very common way for bloggers to monetize their blogs. Bloggers don’t get paid for writing blog posts, so writing ebooks gives bloggers a way to turn their passion into a stream of income.
It is said that the key to ebook success is to write multiple ebooks. This can really increase the amount of money you make.
Let’s take a look at a hypothetical situation:
5 ebooks priced at $10 each
5 ebooks * $10/ebook * 2,000 sold = $100,000
That’s a $100,000 yearly profit made from selling 5 ebooks priced at $10 each. [/box]
There are many authors who make a lot of money selling ebooks on Amazon. Most self-published ebooks on amazon are sold at a price of $2.99, but you can increase the price based on the length of the ebook. A successful ebook is generally 40,000 words or more in length.
You can self-publish an ebook on Amazon or you can set up your own store on your blog. Amazon will take a commission of each sale you make from your ebook. The benefit of using Amazon is that since Amazon has a huge customer base, your ebook will be more easily found. The benefit of setting up your own store on your blog is that the price you set is the price you get. In other words, you won’t have to pay a commission of each sale you make. You’ll get 100% of the profit.
Perhaps, you can do both. You can self-publish on Amazon as well as set up your own store on your blog. Maybe, you can offer a discount to the readers of your blog and set the price to be higher on Amazon to account for the fact that Amazon takes a commission of each sale you make. You can also choose to offer an ebook bundle on your website if you have multiple ebooks to sell.
It’s no secret that the marketplace for online courses is huge and it keeps getting bigger every year. The creation of an online course is a highly profitable business.
I mean, have you taken a look at Udemy? They have over 12 million students enrolled in over 40,000 courses. In case you haven’t heard of Udemy before, it’s a marketplace for online learning where anyone can create an online course and sell it.
Many people interested in creating online courses believe that they need to create a big in-depth course in order for it to be successful. Don’t buy into this myth. You can create an online course that is only an hour long and still generate a decent amount of money.
I’ve seen successful online courses priced at $25 that were only an hour long at the Udemymarketplace.
It’s time for us to do some math again with another hypothetical situation:
1 hour long course priced at $25
$25 * 2,000 sold = $50,000
That’s a $50,000 yearly profit made from selling an hour long course at $25 each. [/box]
Of course, the amount of money you make with online courses is also dependent on the number of courses you create. You can either create 5 small courses priced around $25 or you can create a 10-hour course priced over $100 per course. The problem with a 10-hour course is that people may not buy it because it is more expensive. Instead, you may want to consider breaking the 10-hour course into chunks and selling those chunks as different courses.
For example, if you are in the make money online niche, you can create courses on how to create a website, how to search engine optimize your website, and how to succeed with affiliate marketing. You can either group these into one long course or you can sell them as different courses.
As with any digital product, remember that the information you choose to include in your online course should be relevant to the users of your website.
If you have a skill or you enjoy doing something for others, why not offer that service to others via your website. You can create a services page and charge customers either a flat rate or an hourly rate for your services.
Below is a list of some of the services that you can offer on your website:
- App developer
- Website developer
- Virtual assistant
…and the list goes on. The opportunities are endless. There’s always going to be someone who’s looking for services like these. You can also provide these services on a freelancing website, such as Upwork. However, providing services on your own website makes you look like a professional in your field. Therefore, it is highly recommended that you create a website for your services.
If you choose to create a website for your services, I would suggest creating a portfolio page on your website so that your clients can see the type of work that you do.
Where to start your journey and make money blogging
When it comes to blogging, one size does not fit all. What works for one blogger may not necessarily work for you.
Most bloggers will most likely use affiliate marketing as their main source of income while others just sell ads to make money.
Take a look at the monetization methods of well-established bloggers in your niche. This may help you decide what type of monetization methods you should be using to make money blogging.
I hope this article helped you decide how to start your journey and make money blogging.