When you have placed your blog online and it is gaining traffic, the next step you should follow is finding ways to monetize it. It is obvious that you have either witnessed or heard about people who have made fortunes through blogging. Others will not mind giving their readers an opportunity to know about their achievements.

To begin with, let us take a look at some of these great ways to monetize your blog:

Affiliate marketing – This marketing technique is performance-oriented. When you are blogging, you can promote other’s business through links redirecting to their services or products via an affiliate program. In case a visitor clicks on the link and makes a purchase, then you will be paid a portion of the cost of the service or product.

Read Also: Guide to guest blogging

If you opt for an affiliate marketing plan, you must ensure to:

•    Advertise only those products that are related to your niche

•    Only advertise services or products you have personally tried and give suggestions

•    In order to avoid contradicting your readers, include a disclaimer on your site

To become an affiliate marketer, you may begin by joining popular programs like:

•  LinkShare

•  Amazon Associates

•   ClickBank 

Besides these popular programs, you could also opt to be an affiliate to businesses with programs for one or a few products. For example, another blogger may become an affiliate to a program for eCourses or eBooks related to your niche, thereby giving you a chance to make money as it is something your readers are looking for. 

Google AdSense – Some individuals focus on self-hosted blogs specifically for ads and Google AdSense stands out as one of the main ad networks on the web. This technique allows you to earn money by simply placing ads on your website.

This can be done in two ways: 

Impression-based – This relies entirely on page e.g. every 1000 views on your page will earn you a certain amount of money

Click-based – This is a service in which you earn a certain amount of money when a visitor on your site clicks on the ad. This could vary from $0.01 to more dollars. 

While AdSense works with self-hosted WP blogs and free Blogger blogs, remember that it is not compatible with unpaid WP blog. However, you can still use WordAds to monetize it via a custom domain.

Course/services – You can set up a unique scholarship opportunity by simply coming up with an online training for a fee. You may opt by crafting 2-months training through automated emails or a complete package that allows learners to study at their convenient speed. Besides, you may also choose to offer specific services. For instance, as a blogger, you may also join freelance writing platforms and get paid by writing for others.

Consulting – There is another good option to get paid for your visitors through consulting. These services allow you to earn money by simply giving comments to users. Thus, if you have a blog concerning social media, you may host a Skype session to talk about your customer’s social media plan and charge a certain amount of fee e.g. $75/hour. Also you can opt for Skype-call or send a detailed report through email regarding how to better the plan.

Paid banner-ads/reviews – In the event that your site is attracting a considerable amount of traffic, you are likely to lure sponsorship from a certain business.

This normally happens in two ways:

•    Banner ads
•   Sponsored posts or paid reviews

As the name depicts, these are the banner-like ads appearing you place in your sidebar. You will be paid monthly by the sponsor of the ad to ensure the ad stays on your site. On the contrary, paid reviews involve getting paid for writing a review concerning a certain product sent to you by a certain business or company. It is not necessary for the review to be positive.

Also Read: HOW TO ENHANCE YOUR SEO EFFORTS BY GUEST BLOGGING