Many people are now realizing the immense possibilities for making money which a blog offers. Even with little experience or no start-up capital, you can build a full-time business through your blog. The following are some of the most effective strategies for generating income using your blog.
Consultants and coaches are people who offer expert advice to businesses as well as individuals. In most cases, consultants work with businesses, while coaches work with individuals. To succeed as a consultant or coach, it is important to have a relatively good level of knowledge on your particular industry. Depending on your field, you could be a medical consultant, education consultant, financial consultant or SEO consultant. As a coach, you could a parenting coach, a sports coach or a life coach.
Nowadays, many companies and businesses prefer to outsource work to freelancers instead of hiring staff on a full time basis. For instance, some large blogs or websites hire freelance writers to create content on a regular basis. The best thing about being a freelancer is that you don’t have to be a specialist in your field. You could start off by working on small and simple tasks which don’t pay much. As you gain more experience, you can then take on more demanding tasks which pay better. To begin freelancing, take time to create a ‘Services’ or ‘Hire me’ page on your blog which contains details about your services. Remember to mention clients who you’ve worked with previously and where possible, provide links to your work. To enhance your credibility, it would also be advisable to display testimonials from previous customers.
3. Running a membership site or an E-Course
A membership site is one where individuals pay a regular subscription fee to gain access. You can use such a site to offer small group coaching, online tutorials or community forums. An e-course is a course where materials are provided via email or a site.
Before starting a membership site and e-course, take time to create substantial content for it. This will ensure that the people who sign up get value for their money. In addition, you need to be prepared to handle any problems or questions which might arise. If run properly, membership sites and e-courses can be very lucrative ventures.
4. Selling physical products
Besides offering services, you could use your blog for selling a wide range of physical products. At times, even with a digital option, some people would want to receive their products in a physical format. This could be CDs instead of downloadable music files, or hard copy books instead of eBooks. When it comes to selling physical products, you could choose to purchase the goods in wholesale, and then sell each individual product for a profit. However, this is an option that requires a lot of investment in terms of time and money. Alternatively, you could go for affiliate marketing which involves promoting someone else’s products. This will save you the cost of buying, storing and shipping goods.
5. Selling eBooks
Since the overheads are fairly low, most people find it easier to start with selling eBooks. With such products, you don’t have to incur storage or production costs. In addition, eBooks offer a great way of generating some passive income. Once you’ve put your eBook up for sale, you can continue making sales even when you are asleep or on vacation.
To succeed in selling eBooks, you need to write about a subject which your audience would be interested in. It would be advisable to carry out a survey to find out what people want to read about. Make sure the eBook title is catchy enough to give someone a reason to buy it. In addition, you could offer extras such as exclusive memberships along with the eBook.