by guest blogger Peter Banerjea.
Making money from your blog can seem complicated if you don’t have your own product or service to sell.
But it needn’t be. There are several channels that can turn your blog into a scalable revenue generating machine, without going into the trouble of creating products or offering services.
Here are three simple, yet effective ways to monetize your blog:
1. Place video advertisements
Video ads are one of the most effective ways to generate substantial revenues from your blog. On average, advertisers are willing to pay 10 times more for video ads than what a blog gets for a display ad.
A recent analysis shows that consumers are 27 times more likely to click on a video ad than a regular ad.
You can choose between in-stream and in-banner video ads. In-banner ads are banners with videos embedded in them, like the ones on YouTube’s homepage. However, they are not too popular with advertisers.
In-stream video ads, on the other hand, are like TV commercials that are placed before (pre-roll), during (mid-roll) or after (post-roll) a video on your blog. These are far more popular with blogs as well as advertisers.
Using platforms like vi (see right) you can embed contextual in-stream video ads within your blog, even if you don’t run a video site. Platforms like vi lets you connect with advertisers and select video ads your visitors will be more interested in, to enable better user experience and higher time-on-site.
Sourcing your own videos is also simpler than you might think, vi stories brings videos from a vast library, straight onto your site.
2. Promote affiliate offers
Affiliate marketing is another popular mode of making money from your blog.
Search for companies in your niche that are actively seeking affiliates and have products or services that will resonate with your audience. You can recommend and promote these products and services to your blog visitors as well as email subscribers.
When any visitor or subscriber clicks on your affiliate link and buys that product, you get a commission. For instance, if your affiliate margin is 50% and you promote a software or an e-book that costs $100, you’ll get $50 for simply referring the buyer.
Because of high margins, many websites also invest in SEO and SEM to drive traffic to their affiliate offers.
3. Place display advertisements
If your blog has decent traffic, your sidebar, inline, opt ins, footers, etc. can be used for generating revenue.
You don’t need Google Adsense and can have direct deals with sponsors. You can charge a fixed rate for placing the ad for a specified amount of time, or go for a cost-per-click (CPC) model where the advertiser pays you each time a unique visitor clicks on the banner ad.
For instance, if an ad gets 1000 clicks a month, and your CPC is a dollar per click per visitor, you earn $1000.
Another model is cost-per-thousand (CPM) where the advertiser pays you a predetermined amount per thousand impressions (visitors to that particular page where the ad is displayed). For instance, if you get 100,000 visits a month and the price is $5 CPM, your ad revenue translates to $500 ($5 per 1000 visitors).
Monetizing your blog has a simple mantra:
Create compelling content that your readers enjoy and then use video advertising, display ads or affiliate marketing to promote relevant and useful products or services to them.