Natalie’s segment on women in business/mom-preneurers and how to make money on-line officially kicks off today. To get us started, she is explaining the difference between a blog based business and a blog that makes money. It is an important differentiation that lays the foundation for our discussion on how to make money online.
Making money online. Ugh…it has such a slimy feel to it. I bet you can picture these types of sites right now: never-ending sales pages that scream at you with all caps and yellow highlighter.
It’s terrible. It’s in your face. Half of them sell junk and the other half sells good stuff – but their tactics are so similar you can’t tell the difference. All of it gives Internet marketers a bad rap.
But it doesn’t have to be that way. Lots of decent people earn respectable livings online through their blogs. They do it without selling out to the yellow highlighter club.
There are lots of ways to monetize your online presence, but most blogs can be categorized into two groups. If you are ready to take the leap into making money (respectably) online, then the first step is to decide which group you want to be.
Blog-Type #1: A Blog that Makes Money
Some blogs make money just by being a blog. It’s your place to promote your ideas. Your words can turn into money (i.e. when you recommend a product) and so can your traffic (hello, ads!). Basic revenue sources could include:
- Selling advertising space on your header or sidebar
- Installing advertising like AdSence
- Affiliate sales through Amazon, e-Junkie, etc.
- Product reviews
- Getting a book deal
The biggest advantage of this method is that you can write on any topic that draws an audience. You get to spend your time being you, being awesome, giving value to your readers with none of the worries of creating products or offering services. You get to be a blogger in the truest sense of the word.
The downside to this method is that it takes a ton of traffic to earn a decent income. You live and die by your stats because that’s what you sell to potential advertisers. What’s more, something like Google AdSense needs crazy high traffic in order for dollars to start adding up. Getting enough eyes on your site can take a while.
Dooce, Pioneer Woman, Finslippy, and the like, all have massive traffic, as well as books. Oh, and I guess I should have added t-shirts to the income-stream list. When you become well known enough, you can merchandise your blog logo.
Blog-Type #2: A Business Based Around a Blog
Other blogs are storefronts for businesses that sell products or services. These bloggers are part business owners, part bloggers. In this model, the blog becomes a place for valuable (and free) information that draws people from casual observer to paying customer. It is the businesses’ number one marketing vehicle.
Since the information is free, the money is made by selling:
- Tangible products
- Professional services
Britt Michaelian, Natalie Norton, and Debbie Hodge are three examples of ladies who are masterfully rocking their business using a blog to give value to their readers while simultaneously selling their services.
The upside of this model is that your ability to make money rests solely on the skills and talents you take to the marketplace. You get to be yourself, you get to be awesome and you get to thrive in your niche.
The downside is that your ability to make money rests solely on the skills and talents you take to the marketplace. It can be scary to say, “I’m good at this, so pay me to make it or do it for you.” It also requires blogging skills plus some serious business and technical savvy. The learning curve can be overwhelming.
You can totally do this
The secret to success is support, right? That’s why the incredible team behind SITS – both bloggers and business owners – are taking us on a journey, helping build the skills necessary to take your blog from where it is right now to the amazing, thriving, money making venture you dream about.
No matter which blog model you follow, you’ll need resources and new skills to make it work. You’ll need feedback and a place to bounce your ideas. You’ll also need encouragement and inspiration from women who have been there, done that.
So stay tuned…all of that is coming up. Join me once a week on SITS as I cover how to turn your passion into profit, how to get your business idea off of the ground, the importance of building multiple revenue streams and so much more!
- How to Write an Email Newsletter that Gets Noticed - Oct 3, 2011
- 5 Reasons Your Blog Needs An Email Newsletter - Sep 13, 2011
- Affiliate Marketing: The Quickest Way to Make Money - Sep 8, 2011
- The KISS Method to a Strategic Business Plan - Aug 30, 2011
- How to Find Your Passion and Take It to Market - Aug 24, 2011
- How to Find a Niche You Can Love and Serve - Aug 16, 2011
- How to Make Money From Blogging Series - Aug 10, 2011