“When should I start thinking about monetizing my blog?”
That’s one of the most frequently asked questions by many newbie bloggers today.
Before I provide my own thoughts and insights on this topic, I want to make a suggestion to any new blogger who is wanting to monetize their blog.
Build your blog first.
And when I say build your blog first, I mean to do more than just install WordPress and publish a few posts.
Create as much valuable content as you possibly can.
Build your audience, and build trust and credibility first.
Drive traffic from reliable sources as well as search engines.
Then think about how you want to monetize your blog.
If you’ve only just started your blog, maybe you’ve been doing it for a month or two, my advice would be to wait for at least 6 months before your monetize.
Of course, you don’t have to wait, I’m just giving your my advice.
The problem with monetizing too early
The problem with trying to monetize your blog too early is that you run the risk of actually becoming disheartened when you don’t see much money coming in for your given efforts.
I’m not telling you this to put you off creating income from your blog whatsoever, it’s simply good advice that I was once given myself.
Think of it this way, you wouldn’t move into a new house before it was actually finished being built, would you?
So when should you start to monetize a new blog then?
You can start anytime.
“What? Wait a minute, you just told me to wait 6 months and build my blog first, Fabrizio?”
Yes, I did, that was my advice to you based on what was once taught to me, and based on my personal experience of starting many blogs in my time.
The truth is, you can ignore what I said above about waiting and start monetizing immediately.
You see, even though my recommendation was to wait 6 months and build your blog first, there are some benefits of starting to monetize your blog early. Here are two of those benefits.
- You start to build momentum right away. Your audience will immediately come to know what to expect from your blog. Whereas if you started 6 months or more down the line, when you have a stronger audience for your blog, they may be surprised a little bit to see that you’re trying to turn your blog into a profit making machine.
- You may be financially better off with your blog. If you started to monetize your blog 6 months from now, you’d have to wait a few more months, likely even more, before you’d see any income come through. Whereas if you started to monetize right away off the bat, you may even make your first dollar within a few months. It’s possible.
Anyhow, below I’ve listed 4 questions to ask yourself BEFORE you think about monetizing your blog in any way.
Note: I appreciate that not everyone is out to make money from their blogs, but for the majority of bloggers that want something to show for all the hard work they put into creating great content and doing marketing and promotion. For those who want to turn their blogs into profitable businesses, this post is for you.
4 questions to ask yourself before you start monetizing your blog
- How much traffic is your blog getting?
- Do you have enough peeps subscribed to your blog?
- Can you honestly say you understand your reader’s needs?
- What monetization strategies will you use?
Let’s dive into each of the questions a little deeper.
#1. How much traffic is your blog getting?
First vital ingredient for successful blog monetization is, of course, blog traffic.
How much search engine, targeted referral, email traffic and so on is your blog getting right now?
If you’re only managing 20 visits per day, you’re going to struggle without a doubt. Which reinforces the point I made earlier about waiting 6 months before you monetize your blog. 6 months from now you should have more traffic, right?
If your blog is getting at least 200+ visits per day, then I honestly think you’re in good hands to start monetizing successfully.
There’s an awesome article on Entrepreneurs Journey by Yaro Starak titled How Much Traffic Does Your Blog Need To Make 100k Per Year, it’s well worthy of a read.
#2. Do you have enough peeps subscribed to your blog?
The next question to ask yourself is how many loyal peeps (subscribers) does your blog have?
The more the better, right?
Of course, because people who subscribe to your blog updates are usually the ones that are interested in what you have to share and offer.
If you’ve been providing nothing but an incredible amount of value to them through your blog, podcast, and videos, then turning your subscribers into customers shouldn’t be too hard to do.
#3. Can you honestly say you understand your reader’s needs?
So I said to you that turning your audience into customers shouldn’t be too hard for you to do, however, this greatly depends on how well you know your audience.
You can learn more about your audience by engaging with them, asking them questions from time to time, checking to see what content they respond to the most etc, reaching out to a few of them to offer your help etc.
The better you understand your target audience, the better you will be at serving them, and the more likely they’ll do business with you.
#4. What monetization strategies will you use?
The last question you need to ask yourself is the above. How are you going to START to monetize your blog?
Here are some ideas and suggestions for you –
- Offer coaching and consultancy (Charge people for your time, expert advice, and knowledge)
- Promote and sell third party affiliate products and services (Do affiliate marketing)
- Create and sell your own digital products (eBooks, courses, apps and other software)
- Offer other types of digital services (Such as web design, copywriting, proofreading, creative services)
Wrapping things up
If you spend a few moments answering those questions above, I think you’ll be in a better position to decide when and how you’re going to monetize your blog.
Once again my advice if you’re a starter blogger, is that you spend some time building your blog first.
I tell you, six months will fly by, and you’ll have more content, a few more peeps on your email list, some credibility and so on.
Whatever you decide, I wish you the very best of luck.