As soon as you have your blog up and running, you may want to monetize it for extra income. There are numerous bloggers out there who have successfully implemented diverse methods of monetizing their blog for the purpose of earning more money from doing what they are passionate about.
There are so many diverse ways of monetizing your blog and earning that additional money. However, some of these methods are more effective than others. Some of the most efficient and effective ways of monetizing your blog include; sponsorship, freelancing and affiliate marketing. We will have a look at some of these methods in more detail.
Understanding the Diverse Blog Monetization Methods
As stated earlier, there a few well-known and most efficient methods to assist you in earning money through your blogs. Let us take a closer look at some of these methods.
Sponsorship is another effective method of earning money through your blogs. The basic concept of this is that you can get someone to sponsor the blog that you write which will result in you earning good amount of money. The idea here is that you should be extremely good at your blogs and your subject niche so that someone can consider sponsoring your blogs in return for your expertise on that niche subject.
You can use your freelancing skills to earn money and help you generate funds for yourselves. People who write and compile blogs can acquire various skills such as writing, web designing, graphic designing, marketing, or management of social media. These freelancing skills can quickly change into good online income.
The idea is that you can advertise and promote your specific freelance skill through your blogs. You can attract people through the blogs that you post and then showcase your different freelancing talents which will eventually result in you earning money through it.
3. Affiliate marketing
Affiliate marketing is one of the most common yet efficient methods of monetizing your blog. The process of affiliate marketing involves promoting other products which result in you earning a commission whenever the recommendation provided by you ends up in a sale. This is tracked and made possible through affiliate links.
The affiliate link is essentially like any other standard link, however; the affiliate link has an affiliate ID added towards the end of the link. This ID is what allows and enables the tracking of your recommendation and which is eventually linked with the specific sale as and when it happens.
The commissions that are earned from affiliate marketing are usually anywhere in the range of approximately 5 to 75% of sticker price. In case the product in question is a physical product then the commissions are around 5% mark.
In contrast for the digital products, the commissions can go as high as even 100%. Here it is important to note that the person who is purchasing the product only pays the sticker price so that no part of your commission is funded or contributed by the buyer.