When Should You Start to Monetize Your Blog?
There’s no concrete number out there for how much traffic or how large
an email list should be to make money from your blog because that all depends on what you sell and how you sell it.
Drive traffic on your Blog:
However, having two things straightened out first will help you a lot:
- Get steady traffic: You don’t need tens of thousands of visitors but at least a thousand visitors a month means you’re doing something right.
- Grow your email list: Again you don’t have to aim for anything crazy here. We’ll show you examples of people who had a small list but still used it to their advantage.
Now these two things matter, but primarily, monetizing your blog efficiently is all about the numbers.
For example, if you need to make $6,000 from your blog:
- You can sell a $200 product (say a course) to 30 people.
- Or sell a $600 course to 10 people.
- And even by charging $6,000 for consulting with a client.
Monetization is math, not magic.
This doesn’t mean that the key to monetization is simply increasing the prices of what you sell. Rather it means that you should choose a monetization strategy that aligns with where your blog is right now or where you want it to be in the future.
In this article, we’ll show you how you can monetize a blog and make money online whether you get thousands of page views a month or you’re just starting out.
We’re going to show some solid strategies other bloggers have used to generate revenue from their own blogs in diverse niches and teach you how to do the same with your own blog.
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1. Become a Freelance Blogger in Your Niche
One of the easiest ways to make money from your blog is to become a freelance writer for more prominent blogs in your niche.
Think about it, you probably started your blog because you have experience/knowledge in that area, so why not use that to your advantage?
Businesses are looking for people that can create content to fuel your marketing so who better to create that content than someone that has knowledge in that niche.
Freelance blogger Bimodule used his blog, Writers in Charge, to show his content marketing chops while also growing his audience. He now makes a full-time income blogging for other businesses.
According to data from Glassdoor, the average freelancers in the United States makes about $40k a year. Keep in mind that this figure is influenced by your experience level and the niche you write in.
Here’s a breakdown of how much you can earn in different niches according to the Editorial freelancers.
What average freelancer writer makes by niche (Image source: cantina community
You might not be able to charge these rates when you begin, but as you gain more experience and credibility your rates go up. Be careful not to charge too low in the beginning though.
Charging $10 for an article might seem like an easy way to start getting clients, but in truth it can chase quality clients always as your skills are called into question, not to mention charging so little can drain your motivation to continue.
Since we’re on the subject of pricing, it’s better to charge your clients on a per project basis rather than on an hourly rate since it can be hard to determine how long it’ll take you to complete a task, especially when you’re just starting out as a freelancer.
Charging a fee based on the project itself means you get rewarded for finishing quicker and your clients know how much they’ll pay from the onset.
According to Write World Wide, here’s how much you can charge per project in your first year as a freelance writer, without accounting for your niche or previous writing experience.
How much to charge for writing (Image source: write world wide
The best part about freelance writing is that you don’t need a lot of traffic on your blog to start making money, all businesses really care about it that you can write great content.
Jorden Roper, for example, made $5,000 in her fourth month of being a freelance writer and Jennifer Grigori pulls in about six figures a year from her freelance writing business.
As a freelance blogger, your job is to create written content that attracts visitors to a business’s website so some of these visitors can convert into customers for the business.
According to Content marketing institute’s 2019 report, marketers are set to spend more money on content creation and 50% of the marketers surveyed expect their content marketing budget to increase in 2019.
