7 Ways To Monetize Your Blog

First, I should preface this discussion by saying you first need to seriously evaluate whether you want to work at monetizing your blog.
Second, you have to make sure that making money from your blog directly is your goal. It’s quite possible that your blogging goals may just to network, write about something you’re interested in, or serve some business purpose that isn’t direct income generation.

With that out of the way, let’s get started:

1. Contextual Advertising
Advertising is easily the most popular blog monetization tactic, mostly due to it being the easiest thing to implement. Advertising comes in many forms, and contextual advertising is the most popular due to Google Adsense and it’s general success with blogs and niche sites.
I’m going to assume everyone reading this is familiar with it, but I think it should be mentioned that too many bloggers assume that Adsense is the best solution for their blog. For some blogs and topics it works great, for others, not very well at all.
My advice is to not limit your blog to one ad network or just one form of advertising. Other contextual options include the Yahoo Publisher Network, Chitika, Clicksor, AdSonar, and others.

2. Display Advertising
As I mentioned above, contextual networks aren’t always the best solution for blogs. In some cases there aren’t enough advertisers in niche topics, and in others the users just isn’t likely to click. In this case, you want to be working with ad networks that provide CPM display advertising. This means you get paid something for every ad viewed, opposed to only getting paid per click.
Just like with contextual networks, it’s important to use multiple display ad networks to get more variety from your ads, to not let any one network control your inventory, and to make sure you’re earning the most amount of money possible.

3. Targeted Advertising
The most desirable form of advertising is having companies that wish to pay good rates to advertise on your blog directly whether it’s text or image ads.
There are a number of key things you have to do though in order to get this type of advertising:
* Have a blog with leading content in your niche and a professional design

* Create a “media kit” which is essentially a page on your blog that explains that you take targeted advertising, what your rates are, demographics of your users, your traffic levels, examples of the types of ads people can run, testimonials from any companies that have advertised with you, and a phone number and email address they can use to get more information.

* Have obvious “Advertise On This Blog” links in key places on your blog.

* Be willing to be creative to help your advertisers achieve their goals, and lower your price to get the deals.

Once you’ve set your blog up properly, start approaching companies in your niche who will want to reach your traffic. You don’t need to go after the biggest companies, there are many small companies who are looking to get better results from the web, and they might not even know about your blog. Make it easy on them to work with you, help them create ads, help them determine what sizes to use, and work with them to make sure they get the results they need. It seems like hard work at first, but after you get a solid base of advertisers going, it’s a great source of income and it starts to streamline.

4. Text Link Advertising
Another somewhat unobtrusive form of advertising is using services like Text Link Ads or Adbrite to sell text ads directly to companies. This is pretty low effort and often doesn’t take up too much space on a site, so it’s easy to implement and try out. It should be noted though that you need significant traffic for it to be a big source of income.

5. Affiliate Links
If you’ve got a blog in a specific area, there’s a very large chance that there are companies out there that sell products or services your users are interested in. You can earn some nice income recommending or linking to those products.
Amazon.com is probably the most common affiliate merchant used by bloggers.
Another nice thing about affiliate links is that they fit well with quality content. Reviewing products and services for your users is valuable content, and if you can make money off it as well it’s a great combination. While traffic also helps for affiliate links, it can sometimes be an easier way to generate income without high traffic levels like advertising requires.

6. Selling Your Content (Ebooks, Videos, DVDs)
If you’ve got great content, another option is to package it and sell it. There are numerous bloggers who have created ebooks and even real books based on their blog content and made great income selling them. You can also expand to infoproducts like videos, DVDs, audio CDs, and printed books on demand.
This can take some significant work and it requires great content to actually sell, but it can be a nice income stream that lasts a long time. For which there is a section in this blog as well.

7. Selling Products
Besides infoproducts, you can sell real products like t-shirts, bumper stickers, clothing, or whatever other kind of merchandise makes sense for your topic. Companies like Goodstorm, CafePress, Lulu, and others make it easy by creating the products based on your design and letting you set up a shop. There is no risk to bloggers, which makes it a great opportunity.

Conclusion
It definitely takes some work to monetize your site well, and having good traffic really helps out. Work on building a blog with a solid userbase, and you should be on your way to generating income using any of the methods above. Good luck, and please share any blog monetization experiences you have in the comments.