Earn Money from Blogging
Blogging is always ranked highly on those sites "how to make money" or "earn money on the side" as a great little money spinner. If you're the wonderful Tim Ferris, then you can definitely become a millionaire out of it. If you're me, there is definitely potential...quite a few bloggers regularly earn between £2k and £4k a month.
I touched on this in my blog My Top 3 Ways to Make Money on the Side; I started blogging to relieve stress, have a hobby that gives me an excuse not to go to the gym in the morning and to talk about one of my favourite topics, personal finance.
Make Money From a Blog
To hold myself accountable to writing, I've start my blogging series; each month I'll break down my blogging analytics, income (if any) and tools / resources I've found useful if you're starting in the world of blogging. This month I'm going to focus on the different ways you can earn money through writing a blog; for full transparency my goal (after we sell the fantastic company Driftrock that I'm CFO at) is to live in a mobile home, see the world and write for a living. That is where I want to get to, and that is another reason for starting the blog for me.
There are many different ways to earn money through blogging, and in some cases, many people have nailed this to the point of generating tens of thousands of pounds a month (don't forget the personal income tax on that though...). I recently stumbled across the fantastic Problogger.com who have created a brilliant diagram (below) on all the different avenues and ways to make money from blogging. This really shows the multiple avenues and directions you can take to increase your monthly income from writing a blog.
Where Do You Earn The Money?
A lot of people have earned over £1M a year blogging; even if you're not earning this amount, for many bloggers this is a fantastic side hustle, which considering the stagnant wage increases against inflation, is a real source of additional income. For many bloggers, this income provides them with the ability to live and travel anywhere, a situation I personally would love to achieve.
To spend entire days travelling and writing as a way to make income, would be fantastic, and that is my goal with this personal finance site.
While the diagram above details the multiple revenue streams, the below are the four most common ways (I have seen) to make more money.
If you recommend products on your site, you can earn money through promoting them. Affiliate marketing companies allow you to place links in your blogs to products, or newsletters, or discounts etc; if your reader follows the action the affiliate marketer wants them to i.e purchasing a product, or providing their email address, you can earn money. This money is provided as commission to you.
A lot of people have set up affiliate marketing companies, where they merely resell other people's products and earn commissions on the sale. Some of the top companies in the UK that allow this are Amazon Affiliates and Awin, both of which have an extensive range of products to sell.
This is not a favourite of mine to be honest. I really dislike logging onto websites and seeing a lot of adverts of sites that I have previously visited. I also feel this way as I work for an advertising company, Driftrock.com, that is trying to reshape the advertising world from cookie based placements to people based advertising using CRM information i.e adverts that benefit you.
If you have display advertising on your site, you can earn money when a reader clicks through the advert and purchases the product through the advert. Again, similar to affiliate marketing, you earn commissions on the product purchased. Normally these commissions are a percentage of the product you have purchased. One of the biggest ones in the UK to start earning money from display advertising is Google Adsense.
A lot of the top bloggers who are earning the tens of thousands a month have gone on to write eBooks. Invariably you have to pay to download these eBooks, which then provides another source of income and financing to bloggers. If you have specialist knowledge, then the eBook route could work for you.
Writing for Others
This is the avenue I'm hoping to build out personally; as mentioned previously my dream and goal is to have a job that allows me to work remotely from wherever I want in the world (obviously once the awesome advertising company Driftrock.com sells).
Again this is a way many of the top bloggers make money; it can either be through consistent writing for another company, series of companies, or through what is known as "guest blogging". Guest blogging involves writing content for other websites; if you have a good enough name for yourself, you can charge for this form of writing. To date, I've had the privilege of writing for two other blogs, although not for paid purposes. As I love writing I'm happy to write and increase my portfolio.
As an accountant, I'm obsessive on numbers; if I could talk in binary I would. The Google Analytics of my site is studied intensively. This addictive piece of technology tells me my:
- number of unique visits: new individuals to the page;
- number of visits: individuals that have previously visited my site that visited again in that month;
- number of page views: total number of pages visited by all viewers, and
- the source of the visits (direct search, social media (Twitter, Facebook, Instagram) and other)
I switched to SquareSpace mid November from Website Builder so I only have the results for December 17 and January 18 below. SquareSpace provides a really clear and easy way to view your statistics, and their templates are just beautiful!
The number of daily users directly predicts my mood for the day, particularly when I know that one person logging on is definitely my mother, so that doesn't count. In January, more traffic came from random "other" sites including Twitter, and my posts being mentioned on sites such as Flickr.
At the moment, I'm not going to spend much time on the above as it's in its infancy and is merely a data gathering exercise. The numbers have gone up, although they are still super small... I'm just hoping February numbers increase and if they don't I'll obviously blame Valentine's Day, Shrove Tuesday and the start of Lent for detracting from my blog...
In pure monetary terms, my income report for January was significant (i.e the amount of money I made), earning a grand total of 27p from affiliate marketing; not much but it put me on cloud nine for the rest of the day!
However, starting a blog has provided me with so many additional skills, particularly in the remit of marketing and advertising. Search Engine Optimisation (SEO), and keyword searches have been a completely new topic to me and involved using new software to understand how to drive more organic traffic to the website so that I don't spam my social media networks. Additionally, I'm "slowly" getting better at social media advertising to try and create more traffic to my blog. It's all baby steps at the moment, but it has provided me with additional skills and knowledge.
Make money from a blog
Back to proper money, you can make significantly more than 27p on a monthly basis; as many have shown, blogging is definitely a way to earn more money, and earn money from a side hustle.
If you have a passion for writing or a strong passion for a particular topic, you can kick off your blog really quite easily. I'm not going to lie, with whatever blogging platform you use, you need to invest time in learning about how the platform works. As a complete newbie to this, that took quite some time for me.
There are other ways to make more money, including matched betting or freelancing, as detailed in My Top 3 Ways to Make Money on the Side. Making money in the beginning from blogging is quite slow, whereas, particularly matched betting, you can get up and running quite quickly with this.
If you have any questions or feedback, please feel free to leave it below, or drop me a line at firstname.lastname@example.org
Photo Credits to unsplash.com