Some people start a blog purely as a hobby, but little do they know when they have gathered quite a few of loyal readers, they can turn the blog into a lucrative business. Either that, or the big corporations are going to take advantage of them.
Receiving a press release in your email is a sign that nowadays businesses realize the value and influence a blogger can bring to the table. From a mommy blogger to a guitarist who shares their rants and tips, all of them build the kind of relationship none of the big corporations have.
The problem is in finding the right approach to turn the blog into a business. Many people worry about that because as a personal brand, they may put their names at stake if the readers think they are too aggressive in selling and monetizing their blog.
Here are 5 tips that can help you start turning a blog into a business:
1. Adopt the right mindset
When you turn a blog into a business, it is easy to focus too closely on the money part and lose focus.
For instance, this is one of the reasons why affiliate marketing is getting a bad name.
People are recommending products with higher commissions, despite the quality, just to squeeze more money. Credibility and trust are two most important things for a blogger, so make sure you don’t ruin it.
In the long run, you are going to make more money if you only promote products that you personally believe in.
And yes, now you know that box of diapers you received in the mail is only a sample, a small cost that they spend to tap into the relationship you’ve worked so hard to build.
You can turn that into a business deal… without sacrificing integrity.
2. Provide value in your offer
In certain niches, the audience is less Internet savvy. If it is possible to add value to your offer, it can be very helpful.
For instance, while promoting a product, you may do the work on their behalf first by hunting bargains and research on the reputation and service of the various online stores.
There are a lot of ways to add value to the offer.
3. Sell ad space
This is the easiest way to start monetizing your blog. If you partner with ad networks, it also becomes quick and easy. Securing sponsorship is also not uncommon for popular blogs. Once you get going with this approach, you may choose to manage this yourself though.
There are pros and cons related to ads on a blog, but in my opinion, you should never apologize for those ad checks. You take the time to share information and time is the single most limited asset. Only if you make money that you can spend more time on your blog.
4. Educate yourself about this business
A business is a business is a business. A lot of strategies in real world business can be applied online, but there are also specifics.
For instance, learning how to convert more prospects to customers through education and email autoresponder, placing ads strategically to increase value and result for the advertisers, and so on. Certainly you want the ads to be effective for them to keep running the ads.
5. Networking is key
Bloggers usually work alone, but they also need to network with other bloggers. Not only that makes them feel less isolated, but also to seek opportunities — directly or indirectly — to grow their traffic and business.
Once you get yourself out there, you will never know the opportunities that are coming your way. Let’s not forget that bloggers are more likely to link to others who they already know and trust.
How do you make money blogging? Share your experience and tips with us in the following comments.