There are many different ways in which you can monetize your blog, you don't have to just rely on one method. Here are some methods that you can use to make money on your site.
1. Advertising
You can earn money by displaying advertising space on your website. Many sites do this, as it is a good way to monetize unused space around their content. There are a few different ways to implement advertising on your site;
PPC Advertising - PPC or 'Pay Per Click' advertising pays you for every click an advert gets on your site. You can sign up to a PPC provider (e.g. Google AdSense), who provides you with code to place on your site. This code will display contextual adverts, which are adverts related to your content, on your site. For every click you get on those ads, you get paid a small amount of money. The only down side to this is that you really need to be getting large amounts of traffic to your site for this method to be truly profitable. Having said that, it can be an easy and effective way to earn a bit of money on your site.
Selling Advertising Space - You can sell space on your site to advertisers that want to promote their product/service. Whatever your site focuses on, you can create an 'Advertise' page where companies can enquire about advertising on your site. The good thing about this is that you can set your own rates of what to charge. You can charge on a monthly, quarterly or yearly basis, where you will be guaranteed to be paid as long as you display the agreed adverts for the fixed amount of time. Many high profile websites use this method to earn vast amounts of money! The more traffic you get, the more you can charge.
2. Affiliate Marketing
Affiliate marketing can be a great way to make money on your website. This is where you sign up to an affiliate program and promote other people's products on your site. For every sale that is made via a referral from your site, you earn a commission.
For example, let say that you run a cookery website. You could find affiliate products that relate to your niche. You could find products like; recipe books/e-books, cookery courses, kitchen ware, etc. to promote on your site. As all these products relate to your website, more of your visitors will be interested in purchasing them, which will result in you earning more commission.
The good thing about affiliate marketing is the ease in which you can promote these products. When you sign up to an affiliate product, you get a URL link that is unique to you. This means that you receive commission for every sale that is referred via your unique link. Now, with this link you can promote products in a number of different ways;
Text-Link Ads - You can place your affiliate links within your written content (perhaps a product review or a post that relates in some way) and let people click through that way.
Advertising Space - Some affiliate products supply you with advertising banners to display on your site. For those that don't, you could make your own banners and include your own unique URL link. This way, you can promote affiliate products on multiple pages on your site.
3. Selling Your Own Product
As well as promoting other people's affiliate products, why not produce your own products and sell them on your website! The good thing about this is that, compared to selling your products in a small shop where you have limited customer base, you can promote your product online where you can sell worldwide!
You may be an artist, why not sell your paintings and prints on your site. Perhaps you are a musician, you could promote and sell your own music on your blog. Maybe you have developed your own 'App' for a mobile device, sell it online via your website.
Whatever your product is, you can promote and sell it online. Not only that, but why not sign up to an affiliate marketplace and sell your product? That way, other people can be promoting your product on their site for a commission, which helps to get your product seen by more people!
4. Writing An e-book
If you can't think of a product to create, why not create your own e-book and sell it. It doesn't have to be a fictional story book (though it can if you are into that), it can be information based. The good thing about e-books is that they can be about anything. People read e-books for for information, so if you have some knowledge about a certain subject, then you could write your own e-book about it.
Maybe you are a gardener, why not write an e-book about growing your own food in your back garden. You may be a personal trainer, why not write an e-book about exercise regimes or diet plans. You could even write an e-book about writing an e-book! The possibilities are endless.
With the popularity of eReaders, Kindle's, iPad's, Smart phones, etc. more and more people are reading e-books everyday. Why not write your own and sell it on your website? You could even upload it to sites like Amazon or the Apple iStore and sell it there as well!
5. Creating a 'Hire Me' Page
Another good way to monetize your site is to have your own 'Hire Me' page. That way, you can hire out your services to help other people. Many freelance writers/designers do this as it's a good way to find clients. Think about it, people are already on your website, so they can see that you are (hopefully) good at what you do, therefore they are more likely to hire you.
This doesn't only apply to freelance workers though. It doesn't matter what you do, if you have a skill, you can have your own 'Hire Me' page.
You may be a programmer, people could hire you to develop custom made software for their business. You may run your own language website, you could hire yourself out to people who want to learn English/Spanish/Japanese, etc. and teach them over Skype on a one-to-one basis. Maybe you are a dietician, people could hire you to produce a custom diet plan for them to follow.
Whatever your skill, having your own 'Hire Me' page can be a great way to make money online!
There are many ways that you can monetize your website, you don't have to rely on just one. Like the saying goes, "Don't put all your eggs in one basket!" You could try one of the methods listed above and see if you can make that work on your own site!
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