Now that you’ve learned about a number of common ways to monetize your blog, I hope you have an idea of which ones you might like to pursue first. There are likely to be methods that appeal to you based on several factors such as your blog format, your lifestyle, and your strengths. Something that is important to remember when it comes to making money through your blog is that you will benefit by choosing more than one avenue to pursue. Diversifying your blog income is crucial to your ongoing success. Placing all your proverbial eggs in one basket is quite risky. Continue reading to learn why using a multi-pronged approach is best when it comes to monetizing your blog.
Anything Could Happen
When it comes to earning money online, circumstances can be pretty shaky. Depending upon one source of income, even if it’s paying you well, is risky for a few reasons. Anything can happen, and things could change in the blink of an eye. For example, in the early days of social media, a number of businesses chose to stick with a Facebook page as their main source of online traffic, promotion, and engagement. This proved to have disastrous results when Facebook’s algorithm changed and severely limited the number of people who could see pages in their feeds. Thus, folks were left scrambling to find a better marketing plan.
Best to Be Prepared
Instead of relying on just one source of marketing or of income, it’s always best to have a few irons in the fire. By having multiple types of income on your blog, you won’t be caught by surprise and thrown into panic mode if one should fall through. This is especially true if you’re earning this one income through someone else’s platform. What if the ad network you use suddenly closes its doors or if your best private advertiser should tighten its ad budget? You at least have a bit of control if you’re relying on your own products to sell; however, buyers can be fickle. Times of feast or famine do occur.
Income Streams to Consider
You have so many options when it comes to monetizing your blog. Though it can be scary to branch out, it’s even more worrisome to lose your only source of income. Creating a multi-pronged approach makes good business sense and can provide you with a safety net if one of your money-making sources should fall through.
Some of the most popular ways to monetize your blog include:
- Ad networks
- Direct ad sales
- Affiliate marketing
- Sponsored posts
- Reviews
- Providing a service
- Speaking
- Informational products
- Coaching and consulting
- Webinars
- Membership sites
- Brand ambassadors
This list is just a sampling of what’s out there. Feel free to get creative and to come up with ideas that fit your strengths, personality, and audience. You’ll find that branching out in this way can be quite rewarding.
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