It’s going great.
You’ve spent days and probably weeks creating the best content for your niche.
And even some traffic started rolling in.
But there’s one problem, you’re not making any money. Now don’t panic, there is a right and a wrong way to approach it.
By the end of the guide, you’ll know how to monetize your blog like a pro!
There are 2 types of blogs and each type works well with some type of monetization strategy. By figuring out which type of blog you are building, you can easily decide how you will be making money.
Tip: Prefer watching the video tutorial for this guide? Press the play button below…
The 2 Types of Blogs
As a new blogger you must be able to tell the difference between a B2C and B2B blog.
Let’s break down the first type.
B2C (Business To Consumer) Blogs
These types of blogs are focused on creating content for the everyday consumer.
Let’s look at some examples.
This blog focuses on reviewing products that appeal directly to the individual consumer. Products ranging from cameras, home appliances, electronics and more stuff the average consumer love to buy.
How they make money?
- The Amazon Associates Program (Affiliate Marketing)
Another B2C blog is…
This is a wellness blog that creates content that also appeals to the general consumer health market. They talk about remedies, lifehacks and anything that will improve the reader’s life.
How they make money?
- Selling their own digital product
- Amazon Associates Program
A B2C blog creates content that only targets the consumer.
Now, let’s look at the second type, the B2B blog.
B2B (Business To Business) Blogs
The main goal of these type of blogs is to sell products directly to other businesses.
They target businesses, NOT the individual consumer.
These blogs create content that targets marketing managers, CEOs, software companies, SEO’s and decision-makers
Let’s look at a few examples:
They create content and online courses for businesses and entrepreneurs who wants to increase their revenue through online advertising.
Whether, it’s with Google Adwords or Facebook Ads. They specialize in paid traffic optimization.
So, it’s safe to say they appeal to marketing managers of companies.
Again, not the typical consumer.
How they make money?
- Selling their courses and training programs
Here’s another B2B example.
They create content that target SEO’s who want to track and improve their overall ranking in the search engines.
How they make money?
- Selling their SEO software products.
By now you should know the difference.
Based on your niche selection, your blog will be targeting the general consumer (B2C) or businesses (B2B).
So, what we’re going to do now is look at 4 of the best monetization strategies that fit these two type of blogs.
Love or hate them, ads do make money. A lot of people REALLY hate them.
But the truth is, it’s what makes the internet free. If you optimize the ad placements on your blog correctly, you can generate good income from them.
I have made 6-figures from ads alone for my authority blog.
The Good Side:
You get paid per click.
When someone reads your blog, if they see an ad that intrigues them and they click, you make money.
That’s why it’s very appealing to a lot of new bloggers. It’s very easy to implement and start earning with no selling involved.
It doesn’t take any type of heavy lifting or legwork to get it done. Just copy the code and paste it in certain areas of your site.
Boom, you’ll start making money.
Plus, it’s very passive with little-to-no maintenance.
The Bad Side:
For blogs with a small traffic volume, they won’t make much. The more traffic, the better BUT that’s not always the case.
It depends on where most of your blog traffic is coming from.
Let’s say you’re getting most of your traffic from US, Canada and UK. You would earn more than if majority of the traffic was coming from India or Pakistan.
The reason is most advertisers target countries with more spending power.
Another factor is if most of the traffic is coming from mobile or desktop. Generally, desktop ads pay more.
A desktop user is most likely to buy whatever is being pitched to them than a mobile user who have limited finger space.
2. Affiliate Marketing
Absolutely, one of my favorite strategy to increase blog revenue.
The Good Side:
With this, you get paid per sale based on the commission rate.
Let’s say a product cost $50 and the commission rate is 75%. When the buyer purchases through your referral link, you earn $37.50.
This type of monetization method is also easy to implement. Just get your affiliate and start sending traffic.
You don’t have to handle customers support, refunds or product issues. That responsibility is for the product owner.
Your job is to pre-sell the offer and send over the potential customer.
This type of blog income is VERY scalable if done correctly. The trick is to add value to the customer’s journey.
Before the customer hits the sales page, you should educate them on:
- Why they need it
- How the product/program will solve their problem
This applies to whether you are promoting an Amazon, ShareSale or ClickBank product. Doing this will increase your conversion rate a lot better than direct linking to the offer.
The Bad Side:
Everything has its downside.
Depending on the cost of the offer you might have to pre-sell harder for it to convert. Direct linking doesn’t work as much as they used to a few years ago.
Now it takes a lot more effort to warm up a potential customer.
But when you’re an authority in niche, selling becomes a lot easier as people will trust you.
So, they will buy whatever you recommend.
Another downside is that you have to compete with hundreds or maybe thousands of other Affiliates.
This is very common with ClickBank.
You hear about a hot product that is selling very well. But when you look at the gravity, there are tons of other affiliates promoting the same product.
So, it’s a lot of competition that you have to go up against. Same thing for Amazon products.
Therefore, as a blogger you have to be more creative by giving a lot more value than the competition.
The thing is, most affiliates are inherently lazy.
They don’t like to put in extra work. So, if you are willing to put in the extra effort you will stand out and outdo them.
In the affiliate world, you are prone to commission cuts, meaning you’ll earn less per sale.
This recently happened with Amazon where they changed up their commission structure. A lot of blogs saw a drop in revenue because of that change.
That’s why as a blogger, you shouldn’t rely too much on an income source that you have no control over.
If 80% of your blog’s income is from Amazon, what if they decide to shut down the affiliate program tomorrow?
What are you going to do? You can’t do nothing except to take the hit and move on.
You MUST diversify your blog’s income sources to protect against things like that. But overall affiliate marketing is a excellent source of revenue.
If you’re an expert in a particular field, you can do extremely well with this.
The Good Side:
You can charge premium prices for your services. Let’s say you are an interior decorator and you blog about how to improve your interior space, design colors or aesthetics of a office or room.
If you’re putting out amazing content, companies will actually hit you up for consultation.
And most of these companies have the money to spend!
You can earn a lot of money in a very short time through consultation or coaching.
If you keep providing good content, putting yourself out there as the go-to expert for that niche, you will get tons of emails regarding consultation.
You might even have to turn down some due to the volume.
Once you have satisfied a client they will naturally refer more clients to you, creating a snowball effect. Plus, you will have a deeper connection with your customer which gives more insight into your Market.
The Bad Side:
Even though very profitable, it has some drawbacks. The biggest issue being that it’s not scalable.
Think about it.
How many consultations can you do a day? Even if you’re charging $600 per hour for consultation, you only have 24 hours in the day.
Remember that you must eat and if you have kids they need constant attention.
Now someone might say, “I will just hire persons to do the consultation for me”.
That’s a great idea but that also has its drawbacks.
You will have to eat into your profits to pay those persons. You’ll also have to manage those persons and track how well they’re performing.
This issue is inherent with coaching/consultation.
It just takes a lot more effort to scale. However, it’s a huge income source that is perfect for experts in any niche.
4. Digital Products/Selling Your Own Courses
Personally, I’m a big fan of this.
This can literally transform a 3-figure blog into a 6-figure blog very quickly.
If you do it correctly by building an audience first and consistently providing valuable content, your followers will buy your products.
As long as it will help them achieve a goal, they will buy.
Plus, it’s very scalable, meaning you have to sell more without extra effort. If you have a course that is converting very well, you can easily scale by sending paid traffic to your funnel.
In future posts I will talk more about funnels.
But a funnel is basically a sequence that you send the customer through to increase trust or build a relationship with them before pitching your product.
This drastically increases conversion rate.
Another good thing is that you’re in control.
You don’t have to worry about if your program is going to get shut down.
You don’t have to worry about commission cuts. You are the owner of the product, so you have all the power and leverage. You decide how much money you want to make depending on how much effort is placed into promoting your course.
The Bad Side:
If it was easy everybody would do it.
It requires big initial effort to create the courses that may take a few weeks or months. That’s just the reality. If you want to make big income, then it requires big efforts.
Remember, you’re creating something that you own and something that you’ll be proud of.
The other is that, you’ll have to handle the support.
Yep, I know handling support isn’t sexy but it’s extremely necessary. Especially, if you want to keep refund rates low.
And yes, if you’re selling online, you will have to accept the fact that you will get refund requests.
It doesn’t matter how perfect your product is, even when have a lot of raving customers, you will get those few bad customers.
But as a product owner you must think long term.
You don’t want to damage your reputation. However, it’s just a small aspect that isn’t going to really affect you.
If you’re creating a good product. Your refund rates will be very low.
One other thing is that, you’ll have to learn how to convert leads into buyers. That’s a whole new skillset but if you’re determined you can learn it.
That’s why a lot of bloggers and affiliate marketers shy away from creating their own products. They realize that creating the product is just step one.
Step two is getting persons to buy your product.
That require a whole different game plan. This is something I will be diving into in future posts.
Learning how to convert cold traffic into buyers is a VALUABLE skillset that can set you apart from the competition.
The Best Way To Monetize A New B2C Blog
When starting a brand new B2C blog, it’s best to start with affiliate marketing.
You can get 100 targeted visitors per day to your blog and still make money with affiliate marketing. But if you try to monetize those 100 visitors with ads you’ll make little-to-nothing.
With affiliate marketing, you can make money right out the gate.
Especially, if you’re in a niche where product prices are higher, you can get higher commissions.
So instead of starting ads, find affiliate products or programs in niches that you can promote.
Marry them into your content strategically.
Only place them throughout the content where it’s related. If you do an awesome job with the content, people will buy through your referral link.
Start using ads when getting at least a 1000 visitors per day. With that traffic volume, you will see some earnings added to your blog’s revenue.
Lastly, don’t forget to start building your email list.
It’s getting a lot more important to own an email list because that’s an asset. In fact, your email list will be the most valuable asset when monetized properly.
The Best Way To Monetize A New B2B Blog
If you are starting a B2B blog, don’t waste your time on monetizing with ads.
Every ad space should be used to collect emails.
Putting ads on a B2B blog will just send your traffic to your competitor. That’s just counter intuitive.
You want to get as much leads into your funnel so you can pitch them the products and services you offer.
Your MAIN focus should be on selling your products, whether its:
- A video training course/ebooks
- A software product
- Or consultation/coaching
Whatever your B2B target market will buy, you should sell it.
Pick the Right Strategy That Fits Your Blog
Don’t try to reinvent the wheel.
See what other blogs in your niche are doing. Study how they’re monetizing it and from there you can get even more ideas.
Don’t try multiple monetization methods at once.
You won’t have the time to implement all of them properly, plus you’ll burnout very fast.
Instead, stick with one method until it works. When it starts working, you scale by adding another income source.
That’s how you stack your blog’s income until you end up with a 6- figure or 7-figure blog.
Alright, so now you know how to monetize your blog correctly, it is time for action!
Don’t just consume the content, apply it and start building your income-replacing blog.
You can DEFINITELY do it.