Do you publish a blog on your small business website? If so, you know how important a blog is to staying in touch with your current and future customers, as well as for SEO purposes. However, did you know you could make extra revenue from your blog?
A blog that grows a wide readership has the potential to bring in money – and not just from sales of your products or services. By monetizing your blog, you may find that an extra few hundred or even thousands of dollars a month can be a nice income stream for your business.
How To Monetize Your Blog
To make your blog work for you, you need to monetize it. That means setting up ways to attract and raise revenue. Here are the most popular ways you can monetize a blog:
Direct Paid Advertisers
The best and easiest way to make extra money on your small business blog is to have advertisers pay for banner space. Keep records of your blog traffic. Also, be ready to show numbers of actual subscribers to your blog via RSS syndication and actual members who sign up with their email address.
If you have sufficient traffic numbers, you have the leverage to attract advertisers. What you can charge depends on your statistics. On average, blogs charge anywhere from $20 to $50 per CPM, and you can use this as a reference when setting your rates.
Affiliate marketing is another great way to bring in income from your blog. By becoming an affiliate, you agree to place an advertisement (for free) on your blog space in the form of a text ad or small banner ad. You make money in the form of a commission when your readers click on your specific link and buy products from the affiliate company. Commissions could be up to 50% of a sale. However, make sure you become an affiliate for products or services that complement your own.
Many blogs set up a Google AdSense program. Google simply places a small box of text or image ads within your blog space. Google pays you whenever your readership clicks on an ad link.
By monetizing your blog, you have an opportunity to find an easy income stream.