There are many ways to make an online income with blogs.
One blog cannot be all of these models, so you will need to select one or two formulas for blog success for any given blog.
The good news is that you can set up blogs for nearly no cost, which means you can use these different blog formulas for success to build different kinds of online revenue and be successful.
Some of these strategies work much better than others. However, I always remind myself that even if I blog only makes $20 a year, that is probably a 100% profit if I do not have to do anything for that revenue once it is set up.
If [Your Time Value] + [Your Cost] < [Your Revenue] you have a winner. Rarely can you quit your job with one blog, but you can make money.
Some models for blogs that make positive revenue include:
- Membership Sites – If you use a simple WordPress Membership Plugin you can create a very profitable membership website.
- Affiliate Marketing – Your blog can attract people that will sign up on your email list and then buy products via affiliate networks from you, earning you a commission.
- Ads and AdWords – Blogs can easily pay for themselves with ads or Google Adwords. This will not make you rich but over time tends to increase.
- Expert Status – You can use your blog to demonstrate your expertise in an industry and this formula for success can lead to speaking fees, book deals, etc.
- Product Sales – Beyond affiliate sales, you can also develop your own products and even build an entire shopping cart on top of your blog.
There are other ways to monetize blogs as well. Blogs are an essential part of a lead generation formula for success that many companies use.