If you’re ready to become a serious blogger and start making money online, all you need are the right techniques, some tools you trust, and a little creativity! Let’s get started.
The internet is full of passionate bloggers who share their expertise and provide valuable guides. They influence decision-makers and build confidence in purchasing. If you’re wondering how to monetize your WordPress site or recoup your investment in design, hosting, and time, the first step is to identify the type of blog you have or want to create and how it can be optimized for revenue.
The types of blogs that drive revenue
There’s no secret formula for making money with a WordPress blog, but a well-crafted blog can be very profitable. Your main goals should be to attract a large, valuable audience for advertisers and keep your readers engaged to increase site visits.
Blogs that focus on a specific niche or interest tend to build a loyal following more effectively than those trying to appeal to everyone. While it might be tempting to target a broad audience to boost numbers, it can lead to your blog getting lost in the crowd and losing readers.
COMPARISON AND REVIEW SITES
Word of mouth is one of the oldest and most effective marketing tools. Providing thorough and honest reviews of products, services, or businesses you’ve personally used can quickly build a valuable audience. Comparing different options helps readers make informed decisions, and sites that do this well are often very successful.
However, to monetize your comparison or review site, it’s crucial to maintain transparency. Always disclose if you received goods or services in exchange for a review or if your review contains referral links, as this is both a best practice and, in some places, a legal requirement.
TUTORIALS/COURSES
Creating self-paced tutorials or instructional videos can quickly build a loyal audience and offer a straightforward path to monetization. Ensure your content is unique and valuable, as users will skip over anything that’s freely available elsewhere.
Instead of focusing solely on introductory content, target intermediate or advanced users to stand out.
You don’t need a separate site for tutorials; if you run a WordPress site for a photography business, for example, you could add videos on topics like attracting clients or handling difficult situations. This can generate passive income alongside your main business.
No matter your site or audience, if you provide valuable information that keeps people engaged, you have a solid chance to monetize. Next, let’s explore how to make money with your WordPress site.
Options to monetize your WordPress site
BANNER ADS
They’re the oldest trick in the marketing book, and just about as old as the internet itself. Sometimes the classics stick around because they’re effective, sometimes it’s just because no one has thought of anything better.
We’d put banner ads somewhere in between. If you want to pursue banner ads, there are a few different ways to go about it.
Sell directly to advertisers.
The first is to designate space on your site, create a rate card with sizes, specs, etc., and sell directly to advertisers. You can sell on a flat fee for a designated period, or as a CPM (cost per thousand impressions model). The advantage of a CPM model is that you have total control over what ads are displayed on your site and can make sure they adhere to your brand standards. The disadvantage is the time and effort it takes to sell advertising and the extra step of invoicing your advertisers. It’s a fairly high-maintenance approach to banner ads and monetization in general.
Sell via ad networks.
Your second option is to sell space via ad networks, such as Google AdSense. There are several WordPress plugins available for seamless implementation of programs like this. You can still designate where the ads are displayed on your site, but to attract the most advertisers, you’ll want to stick with the industry standard ad sizes. We would recommend using a third-party system if you are planning to sell banner ads, simply due to the added convenience and simplicity.
The pros and cons of banner ads
Banner ads offer several benefits, including the potential for significant revenue if you have high traffic. They’re relatively low maintenance if you use an ad network and provide valuable data on impressions, clicks, and ad placement performance. This data helps you optimize ads for different devices and can be shared with clients if needed.
However, banner ads have drawbacks. Advertisers are becoming cautious due to concerns about ad viewability and quality. Ad-blocking software also reduces your audience. Additionally, banner ads can clash with modern web design trends, making them look out of place on sleek, minimalist sites. They may also disrupt your site’s aesthetic and introduce ads from unknown or undesirable advertisers, which can detract from your brand’s integrity.
PREMIUM AND GATED CONTENT
If you have a loyal readership on your WordPress blog, consider offering premium content for paid subscribers. This could include exclusive tips, tricks, and insights available only to those who purchase a membership or buy content individually.
However, avoid gating all your content. Free content attracts new visitors and builds trust. People are unlikely to pay unless they see real value in your premium offerings. Ensure your free content is unique and of high quality to stand out in a sea of online information and establish yourself as an authority in your field.
INFLUENCER MARKETING
- Influencer Marketing Overview
- An established advertising practice applied to WordPress blogs with large readerships (hundreds of thousands) or big social media followings.
- Brands pay you to promote their products or services if they see you as a trusted authority.
- Example: Heather’s Blog
- Heather’s blog and styling services attract a large audience.
- A Chicago boutique chain contacted her through an “Advertise with Me” link on her site.
- They offered:
- Towncar transportation to their store.
- $250 clothing stipend.
- $250 gift certificate for a sweepstakes prize.
- In return, Heather will:
- Write an honest review of the boutique.
- Share photos of her outfits.
- Disclose the compensation to her readers, emphasizing that it didn’t affect her review.
The pros and cons of influencer marketing
- Influencer Marketing Potential
- Can be very effective with a large and targeted audience.
- Typically, brands approach bloggers with substantial followings rather than the other way around.
- Considerations
- Higher Barriers: Brands usually want a big, targeted readership.
- Unpredictable Revenue: Brands will reach out to you, which can make income inconsistent.
- Balance is Key: Avoid making every post sponsored, as it can damage trust with your readers.
- Authenticity Matters: Choose brands you genuinely support and maintain your objectivity to keep your audience engaged and trusting.
REFERRAL MARKETING
Referral marketing is a favorite of WordPress blog owners as it combines some of the best elements of all of the other methods we’ve discussed. Essentially, bloggers, instructors, and comparison sites can join referral marketing programs that incentivize them to promote products in exchange for commissions or credit when products are sold. Referral marketing is great because you get compensation for raving about products and services you already love. It seems authentic, your followers appreciate the advice, and you feel good about helping the companies you adore.
Steps for Effective Referral Marketing
- Choose the Right Programs
- Select Products You Believe In Only join referral programs for products and services you genuinely support to maintain credibility.
- Integrate Seamlessly
- Fit with Content: Ensure referral links blend naturally into your content without disrupting the flow.
- Disclose Links: Always let readers know when your post contains referral links.
- Think Creatively
- Expand Beyond Retailers: Consider referral programs outside of traditional retail. For example, promote services you use, like hosting providers, with badges or mentions on your site.
- Implement Efficiently
- Easy Integration: Once you’ve joined referral programs, adding links to your site is straightforward.
- Promote the Best: Highlight high-quality products and services that add value to your readers.
- Stay Updated
- Monitor Offers: Keep track of promotions, sales, and updates from your referral partners.
- Ensure Accuracy: Make sure the products you’re promoting are still available and the information is current to avoid damaging your reputation.
- Reap the Benefits
- Earn Commissions: Referral marketing can generate significant revenue with minimal disruption to your site.
- Provide Value: Recommend top tools and services to your readers while benefiting from referral commissions.
How to get started
Hopefully, by now you’ve developed a feel for the methods of monetization that might work best for your site. Many WordPress blog owners utilize a combination of these techniques, depending on the type of content they are promoting, seasonality, and a variety of other factors.
- Build Your Readership First: Focus on growing your audience before monetizing. Prioritize adding value and loyalty to attract revenue later.
- Use Google Analytics: Connect your site with Google Analytics before launch to track visitors and refine your content strategy.
- Get Organized: Transition from a hobby to a business by setting clear goals and creating a roadmap for your site. Make a list of your priorities.
You might need to invest time or money to make your site impressive before you can start monetizing. It’s often true that you have to spend money to make money. Look at successful blogs you admire and see what they’re doing well, what you like, and what you might do differently.
Next, dive into research. If you’re considering banner ads, compare different ad networks based on their reporting, ease of integration, and flexibility. For referral marketing, list your favorite brands and check if they have referral programs.
Once you have a clear plan, sign up for the programs. Carefully complete the application forms, follow the implementation instructions, and test all links to ensure they work properly. Don’t just set it and forget it—regularly review your monetization methods to ensure everything is functioning correctly and that you’re receiving all the referral credit you deserve. Also, keep up with communications from your service providers to stay informed about updates and new features.
