The reason why entrepreneurs and other businesses create blogs is to create a passive and dependable income solution. A blog in its entirety is a sales funnel whose purpose is to drive prospective consumers to products and services as well as making money directly through the blogs content. After a blog is all set up, developing a money list becomes a bloggers or marketers priority. With a money list, a blogger or marketer can easily incorporate both direct and indirect ways of monetizing a blog.
Setting up a blog is quite easy all you need is a good looking site, your own domain that speaks to your readership, specific target market and post high-quality and consistent content that offers value to the readers. In other words, you will be offering solutions to problems that are likely to be associated with your target market. After your blog is up and running, the next thing is to grow your traffic as you build your money list.
What is a money list?
A money list is a list of prospective buyers whose function is to market specific products with an intention of converting the prospective buyers into real buyers so as to increase sales of a particular product or services.
A money list can be acquired through various ways depending on the option that is available and suits your preference as a marketer or blogger. One of the easiest ways to create a money list is to add a widget on your blog that lets your readership subscribe to your blog to receive newsletters and important posts directly to your mail. The advantage of enabling a widget that lets users of your blog subscribe to your newsletters and posts is that only those who are interested in what you are offering are the ones who will subscribe to your blog.
Another way to create a money list is through offering your subscribers a chance to download freebies which could be in form of eBooks, short courses, and softwares by simply entering their email addresses. This works like barter trade where a reader exchanges email address for the free product that you are offering or promoting. Depending on the urgency of creating a money list, paid advertising can increase the process greatly.
After you have successfully created a money list, you can continue creating engaging and informative content that adds value to your readership as well as market a specific product or services. Having a money list does not guarantee you sales but provides you the attention of the prospective buyer. It is up to you to convince a buyer to purchase your products based on how well you curate your content and market your products.
With a fully functional blog complete with a money list, you can easily monetize your blog through selling individual products and services. The options available for you to sell your products as an individual depends on your target market. If you are choosing to sell your products and services directly, the products have to be in line with what you are blogging about. For instance, if you are blogging about how to run a blog, then the best option for you to sell directly has to involve resources that have to do with blogging for the method to bring in any meaningful results. The most common products that are sold through direct monetization include digital products, physical products, cloud services, eBooks, courses, and webinars.
Indirect monetization is the opposite of direct monetization. The indirect method of monetizing your blog involves marketing or promoting a product for someone else. There are a few options in this method which include advertising, affiliate marketing, and sponsored posts.
Making money from your blog through advertising requires that you have substantial traffic frequently. The number of visitors that your blog requires to use this method varies from one advertising company to another. All that you need to do is apply to one or two of these advertising companies and after your application is approved you will begin seeing advertisements on your blog and that is it. Depending on the advertising platform you can earn money through impressions or clicks to your site.
Sponsored posts can also be advertising but in this case, it is promoted through content that is meant to add value to the readership. You as a blogger accept payment in order to write a post that promotes a specific product or service. A sponsored post discusses how a particular product is useful to the readership. Sponsored post are normally in form of review which provides an honest opinion about the products giving both the positive and negative attributes if a product or service.
Making money through affiliate marketing is very simple and easy. All you need is to enroll in one or two of these affiliate marketing sites and you will be provided with several gateways that include links and banners. After you have your links and banners ready then you can place along with your content and you will earn a commission from all the sales of products and services that will be bought through your affiliate links and banners on your blog.
The advantage of making earning income through your blog is that this income becomes a residual income which means that you will not make a specific amount of money but the effort that you put into work each and every day to grow your blog will determine how much income you receive from your blog.
All these methods of monetizing a blog can be used in one blog although one has to be very careful when choosing a product to promote on your site otherwise you might end up having a great and appealing blog content but you have no idea what your readership wants, therefore, becoming very hard to convert prospective customers into buyers. Remember a huge money list does not guarantee you any sale and the art you use to communicate to your readership is the key to making sales of whatever products that you choose to promote.