We know that blogging is a viable way to make a living these days. It’s no secret that people are earning thousands of dollars every month through their blogs. The internet has transformed the ways that people make money, and the craziest thing is that anyone with a blog can start earning cash.
Nevertheless, some blogs earn way more than others. You can improve the success of your blog by understanding how to squeeze every drop of cash from as possible. Not only that, but there are a few things you need to be wary of when making money online.
To make your blogging life easier, make sure you follow these golden rules when monetizing your blog:
What springs to mind when someone talks about earning money from a blog? Adverts. Everyone assumes that adverts are the only way you can earn an income. While they’re definitely one of the primary sources, you can’t put all of your financial eggs into one basket!
When you solely rely on ads, then you heavily depend on getting regular traffic. The more traffic you have, the more money you end up making from the adverts. This is because you tend to earn money based on how many impressions an ad makes. So, if loads of people are reading your blog, then there’s a higher chance they’ll click on an advert.
What happens if you have a month or so where traffic has dried up? This happens to a lot of blogs as you sometimes run out of content ideas, or your audience is maybe a little bit bored. You can recover from this situation, but it doesn’t stop the fact that you could go weeks or months with very little traffic. As a consequence, this will affect your advertising revenue.
Moreover, if adverts are your only source of income, then your entire revenue stream is corrupted. You may struggle to make enough money to pay for your bills during this period. You can make a real mess of your life if you put advertising revenue as the be-all and end-all of blog monetization.
Hopefully, you can see where I’m going with this point. Instead of focusing on one way of making money, open your world up to multiple revenue streams. This way, if one of them isn’t doing too well, then maybe some of the others make up for it.
So, what options do you have at your disposal? Here are some of my favorites:
- Sponsorships – Get paid by a company to be a sponsor for their brand. This means you advertise their products via your blog, and it could mean that you write some sponsored posts from time to time. You may also advertise on other social media platforms as part of your contract. The brand pays you a set fee for all of this.
- Affiliate Marketing – Similar to sponsorships, but you’re not contracted to a specific company. In effect, you join an affiliate network where you’re given a link to post on your blog. You create content, embed the link, and get paid if your readers click on the link and buy something from the company. You can earn a fortune by doing this!
- Patreon (and anything similar) – Patreon is basically a crowdfunding site for freelancers. People can pay you for your work. The difference with Patreon is that you usually offer up exclusive content or incentives to whoever donates. There are other sites available, but the premise is the same; your audience donates because they like your work.
- Merchandise – As your blog gets more and more popular, you can start creating your own merchandise. Sell it via your blog, and it opens up a new stream of revenue.
When you combine all of these things with advertising, you soon realize how much money a blog can make! Plus, if the ad revenue is down, then it doesn’t matter. You can still earn a lot of money while working on improving your traffic numbers.
If you’re new to the self-employment game, then you probably have no idea about taxes. So, it’ll surprise you to learn that you have to file a tax return based on your earnings during each tax year. Depending on where you live, there are different tax thresholds. Some of you might not even earn enough to need to pay tax, while others will.
Regardless, you have to do the research to be sure that you’re paying what you need to pay. Otherwise, you better start hiring a defense attorney to help you out of a very difficult situation. If you’re caught not paying tax, then you’ll be ordered to pay it all – plus some additional late fees. That’s the best-case scenario, the worst-case is that you get sent to prison.
Admittedly, that’s unlikely to happen unless you’ve spent years not declaring your earnings and avoiding tax. If you’ve had a blog for a while, then I assume you already pay taxes, and there are no issues. This point is more aimed at people beginning their blogging journey. You’ve heard how amazing this can be, and how much money you can make – but, you can’t forget about taxes!
Lastly, there’s one small thing to touch on. No matter how you make money from your blog, never let it get in the way of the quality of your content. Don’t create terrible posts just because they’re sponsored. Don’t release weak clickbait content to try and draw traffic in and gain impressions from ads. Put your content ahead of everything else, always!
It doesn’t matter what type of blog you run, everyone needs to follow these golden rules. To sum everything up; make sure you explore multiple ways of generating money from your blog, don’t forget to file a tax return every year, and never sacrifice the quality of your content for some cash. Obey these rules, and you’ll be amazed at how successful your blog will be.