Opinions expressed by Entrepreneur contributors are their own.
Building a blog’s loyal following and then turning that audience into revenue takes effort, time and patience. But you can do it with the right planning, marketing funnels and content development.
Here’s how to ether make a few hundred dollars a month, turn your online brand into a full-time job, or run an established company that wants to diversify its revenue streams…
One of the best ways to generate revenue on your blog is by offering sponsored content. But the key here is to ensure your advertising aligns with your audience. Sponsored content can be videos, podcasts, blog posts, roundup stories, reviews and interviews.
After your team creates the content and it’s published, you will receive a payment within a few days. There’s no waiting game to receive money as you would from affiliates. Additionally, the revenue isn’t dependent on clicks or views, unlike other types of blog monetization strategies. It depends on how large your readership is and where their brand is placed on the blog.
Related: 3 Tips for Creating Sponsored Content That Engages Consumers
Package your skills into services
As your traffic and contacts grow, you’ll be able to reach more targeted audiences and package your knowledge as service programs. While growing FemFounder, we received requests from potential clients for specific services, therefore; we created three service packages that still sell consistently.
To ensure a consistent stream of revenue, we created a sales funnel. For instance, we guide readers from social media, publicity, and Pinterest advertising (top of the funnel) to our blog posts or landing pages to our email list, funneling them to our sales pages (bottom of the funnel). While the process takes time and testing to improve conversions, it’s worth it when the pieces align.
Related: 3 Insider Tips for Creating a ‘Productized’ Business (Even if You Offer Services)
After you’ve built a following on social media, developing an affiliate marketing strategy can be a great way to make recurring income. You generate commissions from anyone who purchases from your affiliate links.
We embed relevant links in our blog’s content to enhance the reader’s experience. For example, if we have a post on how to use Pinterest to build an email list, we will have an affiliate link to the TailWindApp, a Pinterest automation tool. We then receive a commission every time a sale is made through our affiliate link.
If you’re interested in adding these links to your blog, begin by Googling affiliate programs within your industry. It is also worth checking out larger network platforms such as Pepperjam.com and Amazon Affiliates for opportunities.
With well-thought-out …….