Blogging has come a long way from being personal online journals to becoming a reliable source of income for many people. However, like any other business, that doesn’t happen overnight, and you might need to spend time and money to achieve your blogging dream.
With this in mind, it’s good to know there are many different ways to make money with your blog. Whether you choose to sell digital products, accept sponsored posts, or coach other people, it’s important to remember you should reinvest some of the money back into your business. In that way, you’ll need seed money to create your blogging empire.
[bctt tweet=”8 Ways to Build Up Seed Money to Turn Your Blog into a Business” username=”blogherald”]
Learn about eight different ways you can earn money through your blog.
Sell Digital Products
If you’re an authority in your industry, you can capitalize on your knowledge by selling digital products to help your audience. So, if for instance, you’re a travel blogger who’s constantly on the road, you could create a guide to a destination, and sell it as an e-book for your readers.
It’s also not uncommon for blogs with impressive imagery to sell their photos to interested customers. Additionally, if you’re a marketing genius with extensive knowledge about social media campaigns, you could possibly create an online course or webinar to teach people.
Display Third Party Adverts
One of the most common ways for blogs to make money is by selling ads to be displayed on their pages. However, it’s important to have a well-defined niche and robust traffic, so companies can identify with your message and feel confident to reach out to your audience.
Blogs can create partnerships with specific companies and display their banner ads or join an ad network, which usually places ads on your blog based on the keywords on the pages. Beginner blogs tend to start with Google AdSense as it’s easy to set up, but when they become bigger, with a devoted audience, they choose specialized and more profitable networks.
Join an Affiliate Program
Affiliate programs are a great way for blogs to make money if they don’t want to place ads on their pages. The idea here is that bloggers earn a commission every time a reader clicks on the affiliate link and then makes a purchase. It’s perfect for blogs with an audience that love to try new products or services.
Amazon affiliate is one of the oldest and most famous affiliate programs. Basically, you can make money suggesting Amazon’s products to your audience. However, there are other programs which have different payment models. Sometimes, instead of a purchase, your reader just needs to fill out a form or click on the link for you to earn your commission.
Sell Your Invoices for a Factoring Loan
Sometimes bloggers cannot wait months to raise the capital to invest in their blogs. So, for instance, if you’re planning on creating an e-book, it’s important to remember that apart from writing it, you may need to spend money on editing, designing, and the marketing campaign once it’s released.
Despite the name, factoring loan is not a loan as you won’t have a debt. The idea is that you can sell your assets, in this case, your invoices, to get the money up front instead of waiting to be paid. Factoring companies will pay your invoices in 24 hours, and as a result, you can immediately use the money to boost your blogging business.
Start Coaching Others
Another interesting route for bloggers to earn an income via their blogs is to start coaching people. Your audience probably loves what you have to say, but sometimes they want to be able to follow your exact footsteps and live the life you’re living now.
Although there’s an element of teaching, coaching tends to be a lot more special as you listen to your clients’ stories and use your own experience to guide them. You could potentially help people find their passion, improve their writing skills, or give them the tools to have a successful business.
Accept Sponsored Posts
As your blog starts to grow, you’ll eventually be approached by companies willing to publish posts on your website. Depending on your traffic and the size of your social media channels, you can command high rates for sponsored posts.
Sometimes these posts are written by the companies and other times you’ll have to write them, and consequently, charge more. Just make sure to always disclose if you’re being paid and that the posts bring value to your readers.
Consider Speaking Gigs
It’s not uncommon for bloggers with successful websites to be invited to speak about their niches and businesses. However, many conferences also accept pitches for people willing to share their knowledge with the attendees. Not only are you able to reach a bigger audience but also be paid handsomely.
You should start attending conferences about your niche or about blogging in general. That way, you’ll quickly learn about the type of content your audience likes and slowly create a killer pitch that will wow the conference producers.
Ask for Donations
Sometimes the best way to get the money to invest in your blog is simply by asking. When you already have an audience that consumes everything you create, they might be the first ones to back you if you decide to build a new product or service. The easy way to do this is to add a link on your website, so people can give you money.
Conversely, you should consider starting a crowdfunding campaign. If you really have something great to offer, people will definitely give you money to see your dreams come to fruition. Additionally, you can use a platform like Patreon, where people contribute monthly, instead of giving a one-off donation.
All in all, the best course of action is to choose an approach that fits your blog. At the end of the day, the lifeblood of your business is your audience, and you should strive to understand them well. If they come to your blog and have a great experience, they’re more likely to consume your products or services.