While some people start a blog as a means to connect with the world, others do so with the specific intent to make money. Of course, you can earn money writing while also being a valuable resource for readers or a figure for your niche. If you want to monetize your blog in 2024, you no doubt have a few questions.
Many bloggers are making thousands of dollars per month or more from their activities, but most of them didn’t just create a blog overnight and generate a profit the next morning. Money making blogs require considerable effort and time. Quality content, a well-designed website and user engagement are only some of the key factors that keep your readers coming back for more. What should you know before you try to make money on a blog website?
When to Monetize a Blog
If you ask 20 different people when you should monetize your blog, you’ll likely get 20 different answers. Where does this disconnect come from? Numerous factors play a role in how quickly you build your audience as well as how successful your website is. In addition, there are various ways to make money on a blog. Some of these options have requirements for traffic. Without that traffic, you simply won’t qualify.
According to a 2022 survey completed by Productive Blogging, blogs less than 12 months old earned less than $10 per month. The peak income for a blog occurs between years 5 and 10, when the average blog produces more than $4,800 per month. Of course, the actual profitability of a blog depends on various factors, including:
- Niche
- Monetization strategies
- Posting frequency
- Email distribution or newsletter
So exactly when should you monetize your blog? Some strategies to make money on a blog are available to y on day one. However, many avenues are based on traffic. Generally, you should spend the first six months to a year building traffic. Continue reading, though, to learn about the money-making options available to bloggers in their first year.
How to Make Money on a Blog
If you ‘re serious about making money from blogging, it makes sense to focus on various income streams. By tapping into several of the money-making opportunities for your blog, you can multiply your earnings substantially. So, how do blogs make money?
Adsense
Google Adsense is among the most common ways for bloggers to monetize their blogs in 2024. There is no minimum traffic requirement to qualify. However, you need a minimum of $100 to cash out. The amount you’ll get paid for your traffic depends on your niche. The average CPM is $1 to $2 per 1,000 views. Check out this CPM and CPC calculator to save yourself some brain cells on the math.
What are some of the top-paying niches on Adsense?
- Insurance
- Online education
- Online banking
- Marketing and advertising
- Internet
- Legal
Sponsored Content
Sponsored content is content you specifically stand behind and recommend to your audience. Because of this, it is a higher-level ad. Many bloggers create posts specifically about a product’s features or how a service changed their lives. The company may also offer videos and other more elaborate ads for you to host on your website.
How much can you make from a sponsored post? It depends on your niche and how much traffic your blog gets. Expect a post to fetch between $50 to $1,500, but there are variations outside of this range.
Affiliate Marketing
Adsense pays per click or per impression. Affiliate marketing usually pays when the user clicks the link AND makes a purchase. As you can imagine, it’s much more challenging to get someone to make a purchase through a link than it is to simply get them to click a link. Because of this, the compensation is usually much higher. Rather than earnings cents for click, you could earn $50, $100 or more for instigating a sale. Some affiliate programs pay you a lifetime commission on a service. For example, a wine club membership sale that you played a part in may result in $5 per month to you as long as the membership is valid.
You can apply to be an affiliate directly through some companies. Look for a link in their footer that says something like “Affiliate” or “Partner.” You can also apply through some of these websites:
Digital Products
According to Ahrefs, digital products play a key role in the profitability of a blog. Roughly 45% of the websites that garner $50k or more per year sell digital products. How to succeed at digital product sales? Make something that appeals to your target audience. Think of things that are useful, inspirational or otherwise appealing. These are some general product ideas:
- Ebooks
- Courses
- Templates
- Tutorials
- Graphics
A Newsletter
If your blog doesn’t already have a newsletter, now’s the time to get started. Use OptIn Monster for a fast, easy way to start collecting email addresses from your visitors. When you’re ready to send out regular newsletters, use MailChimp to take the hassle out of the creation and management processes.
So, how does this make you money? When your mailing list grows large enough, you can sponsor products on the newsletter or run ads with your content. In addition, a newsletter can increase your repeat traffic, helping you make more money through your Adsense and affiliate ads.
Guest Posts and Links
Another option is to use guest posts and links to make money. You can write guests posts for other publications to get both a backlink and some extra cash. Compensation ranges from $25 to more than $200 per post. When you have enough regular traffic on your website, you can also accept requests to put other bloggers’ or companies’ links on your website in exchange for cash.