In April 2020, the International Monetary Fund (IMF) declared that the world economy will go into recession, “the worst since the Great Depression” from 1929 to 1933. This is due to “The Great Lockdown” caused by the COVID-19 pandemic.
Thus, more than ever, multiple streams of income are necessary. Because of uncertainties about what the future holds, it’s best to have a source of income for bills, a source of income for insurance, and a source of income for emergencies.
While scientists are still studying the behavior of coronavirus inside the body and a vaccine has yet to be released, people are opting to over-react and stay home. Some have started home-based businesses, home-based work, or their own blogs.
So how can you have a blog that makes money?
1. Having CPC or CPM ads
These are the two most popular types of ads that help bloggers make money:
- CPC (Cost Per Click) or PPC (Pay Per Click) ads – Usually banners placed within the content or sidebar. Each time a reader clicks on the ad, the blogger gets paid for the click.
- CPM ads (Cost Per 1,000 Impressions) – Ads that pay a fixed amount of money based on how many people view the ad
The easiest way to get these ads on your blog is through Google AdSense. Simply place the ad in your blog and Google will match your content with appropriate or relevant advertisers.
2. Having sponsored blog posts or branded content
There may be bloggers who feel that banners and ads are disruptive to the over-all user experience of their blog. They might also dislike not having control over ads matched by advertising programs like AdSense, Chitika, Infolinks, and Media.net with their content, risking some readers getting offended or put off by some ads. There are also readers smart enough to use ad blockers.
So what’s a blogger who needs to earn income to do? WP Beginner suggests having branded content.
Simply put, it’s getting paid by brands so you may create content on your blog about their brand or product. This may also be in video format. It could be an unboxing, a review, a performance test, or a simple feature.
One must remember to practice ethics and integrity, though, and disclose to readers that it is a sponsored post. Similarly, if a post is unpaid — say, a hotel or restaurant review — be sure to mention it so your readers know you are not simply a freeloader.
3. Specializing in content and pursue a career in freelancing
This may take a while and it would require consistency and dedication for you to amass a community of regular readers. But Smart Blogger believes that each reader is a potential client for freelance blogging work, especially if his or her business, company, or brand is in the same industry as your blog’s niche or aligned with your blog’s objectives.
This won’t necessarily take away income or readership from your blog, either. You can ask if their blog can link back to yours. If you get invited to become a speaker or to conduct a talk or seminar, you can plug your blog at the event. Run contests so people will follow and engage with your blog onsite, and continue with your wonderful content so they stay with you long afterwards.
4. Having affiliate links or going into affiliate marketing
Pat Flynn defines affiliate marketing as “the process of earning a commission by promoting another company’s product (or service). You find a product, promote it to others, and earn a piece of the profit for each sale that you make.
In other words, when you help another company generate sales, you get a cut!”
The fastest way to get started is signing up with Amazon Associates (it’s free!). Protect your credibility and integrity by advertising only products and services you have tried and experienced yourself. This is something we do ourselves, so we’re grateful to you when you click our Amazon links!
Pat Flynn calls this “involved affiliate marketing.” This will make your readers trust you more since they will feel your sincerity in endorsing brands and products that have helped you and that you think will help them, too.
5. Having video content and hosting webinars
Once your expertise and credibility are established and you have gone up the content creator ladder as an “influencer” (It’s not about the number of your followers but the quality of your followers and engagement — remember, bots can be fake followers used to jack up follower count), and you have created a community or loyal following, you can start organizing webinars that people may have to pay for to gain access.
This is especially useful now during a pandemic and social gatherings are still prohibited.
These webinars can be interactive, with real-time chat and poll features, so you can take breaks or do ice-breakers in-between each part of your webinar. Take the income generation a notch higher by offering webinar commercial or advertising slots to brands who support you.
Play their current advertisements in a loop while your viewers wait for the webinar to begin, during the intermission, and even after the webinar while you entertain a number of chat inquiries. Think of it as your webinar’s CBB or closing billboard, equal to the end credits of a television series or movie.