How to Monetize Your Blog: Part 1: Before You Begin

The main reason I'm attending the Blog World and New Media Expo is to learn. The sessions here are a wealth of information and I have so many ideas running around in my head. Yesterday I attended most of the monetization seminars. Though I'm primarily a blogger for hire, I do have my own blogs and I want them to be profitable.

The fine folks at Performancing hired me to write posts that lay it all out for beginners. I'm not someone who has a lot of technical knowledge, so I can speak to the people who are just starting out in terms they understand. After yesterday's session about "Smart Ways to Monetize Your Blog" I sat down in the media breakroom (there are benefits to a press pass) and wrote this post, the first in the series "How to Monetize Your Blog". Today, I'd like to talk to you about the things you need to do and think about before even considering monetization strategies.

Blog Monetization: Before You Begin

1. Be realistic- Is your blog really worthy? I'm not being a snob, but you really have to think about the profit potential for your blog. If your blog on ant farming brings in three visitors a month, no matter how much promotional work you do, you might not be a good candidate for advertising.
2. Define your blog - If you want your blogs to be profitable, you have to use ads that work well with your niche. One thing I'm learning is that a writing blog is very difficult to monetize. My readers aren't interested in purchasing a lot of gadgets and toys. They want to learn more about writing and about making a living as a writer. It only makes sense that I define my blog's purpose and find ads suiting that purpose.
3. What kind of traffic are you getting? - Here it is, plain and simple. If no one is visiting your blog, no one is going to click on your ads or buy affiliate products. Get your traffic flowing then move on to step three.
4. What are your blog's demographics? - It's important to truly know your audience before you even think about advertising. That's why I always recommend blogging for a while before seeking advertisers. You'll want to know your readers likes and dislikes. Are they primarily men, women or both? Are they in their 20's or 50's? Once you know the answer to these questions (and more), you can start thinking about the type of ads your readers are most likely to use.
5. Where are your ads going to go? - Here's the thing. You can't just put ads on your blog and expect the money to roll in. It takes careful planning. An ad's placement is very important. Place them too low in the blog and no one will see them. Place them in an "in your face" location and you may turn off some of your readers. What will ads do to your blog's design? Will they ruin its integrity? How will your readers react?

Very few bloggers get rich from advertising on their blogs. Some of us do make OK money and some very little if anything at all. You can't just slap ads on your site. You have to consider all the factors. Knowing your audience is key and careful planning is essential.