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I am Laura Yamin and I am a fellow HLB blogger who is passionate about creating money. In this post I am giving you an inside scoop on my great monetizing experiment of 2012 and I will share 3 ways that you can generate income through your blogging. You can find me at laurayamin.com or via twitter at @lryamin.
When it comes to monetizing your blog work the possibilities are endless from joining an ad network, posting paid reviews and even participating through affiliate marketing. However, what if I tell you that you can shift the revenue model upside down by taking control of how much money you can make. What if you look at your content as an opportunity to build a new revenue stream into your life that you can be in control as opposed to spending your time pitching to work with brands?
In this post, I will share with you how you can turn your blog into a revenue-generating business by shifting your attention from brands driven into creating products and services that support your passion.
I have been blogging for about 3 years. On 2012, I decided to focus on exploring the idea on how to generate income through my blog. Throughout the year, I experimented with various monetizing techniques. This is what I tried thus far: ad networks (LJIT), sponsored posts, brand campaign, affiliate information product marketing and offering consulting services. By the end of the year, I tallied up what I gained and loss and based on the results I shifted my focus from brand driven monetizing into a blogging business model.
Here is a taste of my findings, when it came to ad networks my pageviews are relatively small. Therefore my earnings after a month accounted to only $5. YIKES. I choose to take down the ads because I didn’t like how cluttered my site look like and well I didn’t have full control of what ads would come up, etc.
My next experiment was to work with a brand to host a series of giveaways. I was lucky to find a great campaign that provided me a whole lot of beauty products that I am still using. What I didn’t know is that running a giveway takes work from coming up with social media promotions to creating unique content in my site that would stand out from the rest of the bloggers. This turned out to be more time consuming than I expected and decided to skip out from any future giveway campaigns.
Through one of my ad networks, I applied to a sponsored post campaign for a brand that was in alignment with my site. I wrote a post, tweet about it and earn $50. Good times! One thing I realized quickly is that for me this was more of a one time thing as opposed to an every day occurrence. I am not passionate about pitching to brands. It’s just not my thing. Again scratch this as a monetizing model for me.
Finally, after a few months of experimentation, I found my groove with affiliate product marketing opportunities. I was able to bridge my passion for personal growth products that I love to consume and sharing it to my readers while earning a nice income. For each of the affiliate information product, I earned on average of $75 which is not chump change. I noticed that I only needed to make less than 10 sales to earn at least $500. Yes this was a better way to use my time and energy when it comes to monetizing within my blog. There are a couple of things that I noticed it has worked for me: 1. I have used the product and truly believed in it; 2. I kept the sales to a few per year as “flash sales” 3. Content creation felt fun and effortlessly.
Along the way, I started to build relationship with my readers and identifying a space where I can offer consulting services. It started as a fun experiment where I shared my expertise in all things blogging relationship building and creating irresistible offerings.
Needless to say, I chose to focus on two revenue streams that not only monetize my blog but it was in full alignment with my big picture goals.
HOW CAN YOU USE THIS INFORMATION?
If you are looking to monetize your blog I dare you to look at it as a potential business opportunity. You have spent months/years creating content, building a tribe of readers that you can easily leverage into a revenue generating opportunity without being sleazy.
For instance shifting the focus from working with everyone into how can I best serve my audience can spark a set of unique ideas that you can apply to your big picture goals.
1. if you want to become a published author, why don’t you create a "Best Blog Content" E-book
Over time you have accumulated an assortment of content that your readers would love to have it organized in one particular site.
For instance you have building a recipe repertoire that can be re-organized into 100 Ways to make Overnight Oatmeal where not only you can share your recipes, a list of tips and tricks and other relevant posts. You can then sell it in your site but also over Amazon which can bring a potential new audience to your site.
You may ask yourself, why would people pay for content that is already free? Well simple, you are organizing the content and digesting it to be ready for consumption. You are taking the time to remove the clutter and filler posts and honing in the real message that you want me to get, and how I can apply it into my life.
A couple of great examples include: Kat Lee’s How they Blog, and MizFit’s How to Build Muscle and Lose Weight Without Losing Your Mind
2. How about putting together a Paid Premium Challenge
We know that creating challenges is a great way to build community and engagement for your readers. This is an opportunity for your audience to apply what they are learning from your blog.
What if we take things to the next level by creating a “paid” challenge or group program that not only you will connect with the community but also serve as an expert. In the challenge you can offer things such as private Facebook group, support calls/accountability, email check-ins, etc.
A couple of great examples include: Tina Reale’s Best Body Bootcamp and 21 Days Intuitive Eating Challenge
3. Providing Services at a 1:1 level
Are you a personal trainer, chef, health coach, a social media strategist, stylist, etc? Have you thought of offering 1:1 services to your readers? You can start a consulting practice from home fairly easy using services such as Google Hangout and email. This is a great opportunity to get a sense of a potential product while also serving your readers.
I dare you to look at ways that you can monetize your blog from a different perspective. Go ahead, experiment a little, break those pesky “blogger rules,” and carve your path. Please tell me all about it at firstname.lastname@example.org or @lryamin via twitter.