Four Essentials in Establishing an Effective Money-Making Blog
Many people are turning to ecommerce to make their fortune. The process of starting a blog or building an online shop seems simple from the outside. In reality, the process of setting up any of these ecommerce platforms is incredibly simple, but making your fortune is much more complex.
According to research, there are currently more than 150 million active blogs on the market. Of those active blogs, only about 4 percent “make their fortune” with an average monthly income of more than $10,000 in a month. Only 9 percent make between $1,000 and $10,000 in that same time frame, and a shocking majority (73 percent) make less than $99 in a 30-day span.
Even though the salary outlook for a typical blogger isn’t excellent, it’s not impossible to make good money from a blog. You simply have to know the proper procedure for making it happen. If you want to build a monetizing blog, here are a few steps you’ll want to follow.
Choose Your Topic in a Niche
No blog can begin without a narrowed topic within a specific niche. You won’t get far without content that has a specific audience. Blogs that focus on generalized content rarely succeed, and it can be argued that making money on your blog is impossible without the right topic.
When deciding on your topic, make sure it’s something you enjoy. “If you don’t love the topic, it’ll show in your writing,” says Neil Patel, marketing guru and popular blogger in his blog post “The Step-by-Step Guide to Creating a Money-Making Blog in 47 Minutes. “You need to be naturally curious about it, if not you’ll run out of ideas quickly. Most importantly, you won’t be able to consistently create content that will build your audience.”
Buy a Great Domain Name
Don’t ever start a blog with a subdomain hoping that it will make money. It will reduce your credibility. In this case, you have to spend money to make money. Fortunately, blog domains are fairly affordable. You can purchase a year of hosting for as little as $75, depending on the features you want and the span of time you select.
The domain name itself is also very important. It should be memorable and easy to spell. To help you select a great domain name, Neil Patel offers a few excellent tips in his blog post:
- “Choose a .com over others. They’re easier to remember.
- Aim for 2-3 words. Unfortunately, most, if not all single word domains are taken.
- Try to use a keyword that represents what your blog is about. This helps people quickly identify your blog’s niche and helps search engines distinguish what your blog is about.
- Avoid using numbers and hyphens. They are difficult to remember.
- Go for something memorable or catchy.
- For personal brands, use your name or a variation of it.”
Go for a Good Design
After you’ve chosen your domain name and set up hosting, you’ll need an excellent design. Purchase a quality blog theme that matches the purpose and audience of your business. A great design will significantly boost your credibility and increase user interest in your blog.
Test Out Monetizing Strategies
The process of creating your blog greatly influences the success of your monetization tactics, but it’s the way you go about making your fortune that matters most. Here are some of the top strategies bloggers use to make money:
- Online Shop: Sell products relevant to your blogging niche. Your blog is an excellent platform for promoting these products.
- Advertise: Offer paid advertising slots. If your blog becomes popular enough, advertisers will pay top dollar for any of these banners.
- Use Social Media: You can’t hope to market your products or services without the help of social media. Develop strong profiles on Facebook, Instagram, Pinterest, and Twitter at the very least and regularly engage to spread the word.
- Affiliate Links: Partner with another online shop or blogger with affiliate links. You’ll include these links on your blog and get paid anytime a consumer makes a purchase using the link on your blog.
- EBook: Write an eBook based on your niche and sell it for a couple of dollars per copy. It may seem cheap now, but if you sell 100 copies in a month, that’s a nice profit.
These are just a few of the many options available for bringing money to your blog. With the right strategy, you can see success in any field of writing.