Joining the gig economy has become a popular way to increase your income. With so many people drowning in debt, the side gig offers a pathway to economic recovery. But can you make money blogging?
The short answer is “yes.” But not in a day. Every successful blogger will tell you that it didn’t happen overnight. Getting to where they are today, took work and commitment.
Yes, You Can Make Money Blogging
You can make money blogging, but you need a plan, a strategy, a budget, patience, and commitment.
Puspanjalee Das Dutta, a professional blogger with more than 30 million readers, and the winner of the Indian Bloggers Award in 2017 says that “If you have started a blog just because every other person is a blogger and you do not have a plan, then you will never earn a single penny.”
Here are some tips to help you launch your blog.
Is Blogging Going to be a Side-Hustle or Full-Time?
If your blog is going to be a side-hustle, to bring in extra income while you keep your full-time job, you have less to worry about. But, if you have decided your blog will be full-time, then you need a financial plan for your blog.
- Do you have enough money saved to carry you through the months of no income? Some of the most successful bloggers say that it took at least eight months before they began to make money blogging.
- Do you have savings to cover eight months of living expenses?
- Can you change your lifestyle and live on less until you start to make money?
- Do you have a back-up plan?
Without a financial plan for your blogging career will be short-lived.
Budgeting for Inconsistent Income
Your blog starts to make money. Great. But one month the income is up, the next it’s down. How are you going to manage your income when it is inconsistent?
In a previous blog article, we gave tips on how to budget when your income is inconsistent. During the months when your income is growing and exceeding expectations, put the money to work for you, meaning, don’t spend it! Use the income to meet your financial goals, especially to increase your savings.
Surviving the Beginning of the Curve
In the beginning, no one will know who you are. You must enter a crowded field of internet bloggers with no name recognition. It can be daunting and a bit discouraging. Remember that concept of grit that we talked about previously? This is where you need your grit.
You will need to do a lot of heavy lifting to get your blog off the ground. It won’t be enough to just write great blog content. You need to market your posts. Become active or ramp up your activity on social media. Share your blog articles across social media channels such as Facebook, Twitter, LinkedIn, and YouTube. Sign up for other blogs, comment and share their articles. Most authors will reciprocate.
How Does Your Blog Make Money?
You need to create a blog that will be easy to monetize. To successfully monetize your blog, you need to do upfront research like what you would do if you start a business. What are people asking? What are consumers interested in? How many blogs are already in that niche? What kinds of engagement are those blogs getting? How do they monetize their blogs?
Affiliate marketing means that you promote products on your blog. You insert a link to a site where the product can be purchased within your blog article or somewhere on your blog platform. When a reader clicks the link, you get a commission. Select a few products that you will be comfortable with and promote those on your blog. But be careful. Too much product marketing on your blog could turn followers away.
This is the most common vehicle for making money blogging. You can sell ads to individual companies, especially if you can show the subscriber numbers. Or you can rely on a platform like AdSense to do targeted advertising for you. Like an affiliate marketing strategy, too many ads can turn off your readers. Both options require you to be strategic.
Sell Your Experience
This is a great way to make money blogging because you are in control of everything. If you have a lot of expertise in a certain area, you can create an online course or workshop and sell it on your blog. Other products that can bring you steady income are e-books, videos, and podcasts. Do your homework though. There is a tremendous amount of free information on the internet today. You need to prove that you are an expert in the subject area and give your audience something they can’t find for free.
If your blog is performing well, another way to make money from your blog is to sell memberships to certain content. Kind of like Amazon Prime, readers can purchase a membership that gives them access to certain pages or forums where they can access valuable information not available to your general readers.