Hey everyone, we are on the 8th edition of Why Most Bloggers Fail. It feels like I just started the column last week! The support I’ve gotten here has been tremendous. So as I always do in the beginning of these posts, I’d like to say thank you. Your emails, comments, and kind words mean the world to me. Today, we’re going to talk about monetary expectations with regard to blog ownership. It seems like most of the beginners I’ve coached along the way have incredibly unrealistic expectations in the beginning. I can’t blame them either; I had the same problem. So, today we’re going to talk about what you can expect as far as income in the beginning of blog ownership, and how monetizing your blog really works. Before we do, we’ve got a new MVP to crown!
This Week’s PF MVP Goes To…Natalie!
Natalie at Finance Girl is one of my favorites in the personal finance world, and it’s obvious that she’s one of your favorites too. As a matter of fact, she is the first MVP to ever receive more than 100 votes! It seemed like every day I saw new emails coming in letting me know that Natalie was their choice! Natalie is a “twenty something attorney” who blogs about getting out of overwhelming student debt. In her posts, she adds her amazing personality; making each post enjoyable to read to the very end! She’s also amazing with regard to interacting with her community! Thanks for being such a great influence on the personal finance community Natalie; I’ll be adding you to the Personal Finance Hall of Fame as soon as I finish this post!
What Most Beginner’s Monetary Expectations Are
Speaking from personal experience and from the experiences I’ve watched others go through, I can tell you that most beginners have monetary expectations of their blog that are way out of the park. For instance, when I first started, I wanted to have my blog making five thousand dollars a month within the first 3 or 4 months. Now, it’s almost laughable to think that way.
Where Beginners Should Set Their Expectations
I read about get rich quick schemes all the time. The problem with these concepts is that they simply don’t work. Blogging definitely isn’t a “get rich quick” process. As a matter of fact, I don’t think I made a dollar on this blog until it was about 6 months old; well, maybe it was pennies. The bottom line is that you can expect it to take at least a year to grow your blog to the point where you’re making substantial income. You know, the “Quit your job to work for yourself…” kind of income. But, that’s only if you’re willing to bust your butt to get there! I know of bloggers, myself included that have made it in 9 months, but it’s best to set your expectations further out. This way, if it takes a bit longer, you will have expected it.
Properly Monetizing Your Blog
Step #1: Decide When The Best Time To Start Monetizing Will Be - Monetizing your blog means placing ads in your content…ads your readers will see. Sometimes, it can be off putting to see a new blog with ads all over it. When I started, my blog was full of ads. After a while, I took the ads down and decided that I’d focus on the audience and monetize later. It was one of the best moves I made. Sure, it prolonged income, but it definitely helped growth. When it comes to monetizing your blog, my recommendation is to wait until you’ve got a core readership; you know, readers that comment often, that you’ve created relationships with. This will usually take about 6 months.
Step #2: Decide How You’d Like To Monetize Your Blog - One of the things I love about blog ownership is that when it comes to income, there seems to be an endless amount of opportunities. For instance, you can do pay per click ads, cost per mil ads, link ads, video ads, cost per acquisition ads, you can even write your own eBook for sale on your site and more. So, at this point, you’re going to need to do a bit of research to figure out which strategy is going to be best for your blog and its audience. Do a little research into the different types of ads you can place on your blog, and look at the ads like you think your readers would. Is that something they’d want to see? Is the product something you’d personally buy? If not, move onto the next. Trust me, you’ll see how endless the possibilities become.
Step #3: Decide Where You’re Going To Place The Ads On Your Site - This is incredibly important everyone. The simple fact is that if you’ve got a website that’s so convoluted with ads, the visual appeal is taken completely away; you’re wasting your time! We’ve all seen those sites, and if you’re anything like me, you just bounce right off of them! Think about subtle ways that you can add advertisements to your blog. For instance, the sidebar is a great place for ads. The reader’s attention stays in the article. When they’re done reading, they look in the sidebar for other things to read or do online and see the ads…it’s like a match made in heaven.
Step #4: Follow Through With Your Plan - Steps one through three were all about planning to monetize your blog. Now, it’s time to actually follow through. Sign up for the affiliate networks, Adsense, or other channels used to monetize websites, and put those ads on your blog!
This Week’s PF MVP Award Nominees!
This is a very special week for the CNA Finance PF MVP Award (Wow, that’s a mouth full). Anyway, this week, I didn’t choose the nominees. Instead, last week’s MVP, Debt Debs did! To vote for your favorite MVP, simply let me know who you want to win in the comments below, or send an email to CNAFinanceHelp@Gmail.com. I may not have time to respond to everyone, but trust me your vote is counted! OK, onto the nominees!