Can’t Quit Your Day Job, So You Must Be A Failure? Why You’re Probably Not
“Make money blogging” “Become rich producing and delivering content” “Quit your job and create the day away.”
The truth?
Wealth can be generated using quality content creation and distribution. Never have we seen greater evidence of this than in the few short years following the isolation imposed upon us by the social distancing and quarantines the pandemic required.
What’s the catch?
The steps for getting there are essentially the same for most subjects and forms of content. And, at first glance, they seem straightforward enough. However, behind each one is a backend consisting of several areas of professional expertise that could easily utilize an entire team to manage effectively.
Being a talented writer and content creator isn’t enough.
Let’s go over them together here…
Steps for monetizing your site’s content:
- Set up your blog or podcast
- Start creating content that is useful and of good quality. Create this content consistently.
- Leverage your skills and talents, along with those of others, to build powerful networks of relationships and to form profitable joint-venture partnerships.
- Foster community and build engagement with your audience and visitors who come in contact with your content.
- Implement strategies for generating multiple streams of revenue
I’m going to go over some of the methods and options available to you for generating revenue with your content. Some I’ve tried, some I plan to, and some are just not for me.
Advertising Income
The easiest way to add advertising income is to apply for Google Adsense. With this method, once approved, you focus on attracting an audience with your content and Google does the rest. Based on your content and audience demographics, they determine the right products and services to promote and even the best format and placement of the ads.
(To improve your chances of approval with Google AdSense, you may want to review this article from All Blogging Tips prior to applying: 12 Things To Do Before Applying To Google AdSense)
Examples of AdSense alternatives: InfoLinks and Bidvertiser
Affiliate Income
I participate in affiliate partnerships and use affiliate advertising to generate income. With these types of links, whenever a visitor clicks on one and purchases whatever the product or service is, I earn a commission on the sale. Of course there are rules and qualifiers that must be met specific to each program, the product or service itself, and even the timing of the purchase.
While this wasn’t the case when I first got started, the practice of companies offering some type of affiliate incentive for promoting a product or service has become commonplace and there are a vast number of tools and resources available to help you both get started and grow your affiliate income.
A choice I made about affiliate marketing…
When incorporating the addition of ads and affiliate links into my posts, I opt for readability over prominent placement. I likely sacrifice some earnings, but it’s important to me that anything I choose to promote adds to the value I’m providing and is consumed organically within the context of my content.
Events
Another stream of income that continues to increase in popularity is the organization and offering of events, outreaches, and conferences.
One of my favorite blogs Raising Miro organizes World Schooling Summits based on the belief that our world is an infinite and inspiring classroom filled with experiential learning possibilities.
Memberships and Subscription Services
One of the most common methods for generating a stream of income utilized by content creators of all types and venues is that of providing exclusive content for a specified length of time in exchange for a recurring or one-time fee.
This can be one of the most lucrative methods for generating a recurring stream of income with your content.
Selling Products
For those interested in the possibility of offering products, I recommend reading some of the articles and resources Shopify has available at no charge. While they are in the business of promoting Shopify in their content, they also provide a lot of really up-to-date and relevant information that would be useful to anyone interested in, or just getting started in, the business of selling physical products.
Flipping Domains/Blogs
Domain flipping can extend beyond just buying and selling domain names; it can also involve creating profitable blogs on those domains and then reselling them at a higher value. This approach adds a layer of value to the domain and significantly increases the asking price.
This process is achieved through building an established online presence, generating traffic, and creating revenue streams prior to selling it.
You likely have some idea just from reading the overviews how much more involved the successful generation of content revenue is than simply producing great content.
Do your homework. There are places you can cut corners; your investment in learning isn’t one of them.
What are some of the ways that have (or haven’t) worked for you?