Blogging can be a real moneymaker. However, to generate a good profit you need three things: a blog, lots of patience, and excellent content. It’s tough to build a website and monetize it to reach a profit of $100,000 in a month. Not everyone can do it. Nonetheless, it’s not something impossible to attain. Renowned blogger and business coach Neil Patel made his first $1 million with blogging. Confidence and drive are fundamental elements. They’re a key piece of the puzzle. For your blog to gather leads, increase in value, and start making money, it has to have a unique view.
Niche blogs have the highest chances of success these days. With the advent of the internet and social media, it has become increasingly difficult to make money with a general, superficial blog. People want to find specific things online; they don’t want to enter a site and have to search until they find what they’re looking for. Here are some guidelines to help you become the next Neil Patel in the blogging business.
Traffic – the fundamental element in making money with blogging
Too many bloggers these days build their blogs in the hopes of making fast money. Unfortunately, that won’t happen anytime soon. For your blog to increase in value, it needs traffic. Without traffic, there’s no way to monetize it. In B2B business, most blogs are meant to entice other businesses. Blogs with 100,000 unique visitors in a single month can easily make a profit of $80,000. But before you get your hopes up, you need time to build an audience. Don’t expect revenue after writing 20 blog posts because that won’t happen. People who are just visiting your blog are better known as “prospects”. They access your blog but don’t buy anything. Your goal should be to convert them into “leads”. Leads are visitors you have to convert from prospects into paying customers.
Start paying more attention to e-mail marketing
Blogging and email marketing go hand in hand. To make money with through blogging, it’s very important that you focus on expanding your email list. Invite visitors to subscribe to your newsletter, and send them daily (personalized) updates. Don’t expect 100,000 unique visitors to subscribe. In the first month, 5,000 should be enough. Focus on offering bonus content, and make sure it’s unique, factual and to the point. Plugins like Thrive can be of great assistance. Gathering emails can be done through other methods: sliders, pop-ups, bars and takeovers. Out of 100,000 visitors, hit at a 5% conversion rate in visitors.
Things are a little bit different in the B2C business. To generate a good profit, your traffic has to be even bigger. That’s because, unlike companies who can afford to spend, average customers don’t have that kind of luxury. Consumers care a lot about price, meaning that you shouldn’t expect them to make a purchase as soon as they’ve subscribed to your newsletter. It might seem scary, but in B2C you need about 1.5 million visitors a month to see a profit of $100,000. The good news is, with consumer blogs your profit is directly linked to service or product that you provide that they can instantly purchase. Building an email list is recommended, but the best approach is to direct them straight to the product. In this case, e-mail marketing comes second because your landing page prevails.
Do I need that many visitors to make money with m blog?
Yes, you need them. When it comes to monetizing a blog, most people can’t realize that even if you have 100,000 visitors a month, it doesn’t mean those people will bring you a profit of 1%. You should be focusing on visitors accessing a landing page with an offer. Those are the prospects that matter the most. With a bit of luck, you’re looking at a 1-4% profit. Irresistible offers might boost your revenue to 6%, but only if what you have to offer is truly unique and exclusive. Include upsells and down sells to keep your profit constant. When it comes to blogging for a profit, you have to know one thing – without proper upsells and down sells you can’t pull it off. If you don’t or can’t up sell and down sell your own products, you might want to consider doing it with third party products.
KISSmetrics – Neil Patel’s main weapon for monetizing a blog
KISSmetrics was Neil Patel’s main weapon in monetizing his blog. The tool is actually an online platform that anyone can use to track online metrics. Patel’s marketing blog exploded in popularity and earned him a position in the Top 100 Technorati Blogger. He actually made over $1 million in profit. Here’s how he did it:
1. Top notch content
When it comes to business negotiation, Patel emphasizes the importance of being the “alpha”. It conveys confidence and experience. Being the alpha give puts you in control. In writing, the exact principle applies. Starting a new business is usually centered at a goal – to make money. The key to turning ideas into millions of dollars is enticing your audience. What can you offer to them that can take their breaths away? When you write content for your blog, it is very important to write with confidence. It won’t just attract readers; it will compel them to share and comment too. Interesting content written with a conversational but powerful tone (without too much emphasis on the salesy part) works miracles.
2. Write with ROI in mind
Writing content for your blog can become frustrating. It’s tough to write quality content all the time. But if you do with ROI in mind, you’ll always find a way to stand out. Stay focused on your niche, and find a way to come up with new and fresh topics for at least 90 days. Don’t repeat topics and always keep an eye on metrics. Assess articles that had the most impact, and write others that might entice your audience. Use Google’s analytics tool (which, by the way, is free). Or, if you can afford to spend a bit, Patel’s Kissmetrics software is just as good. It will help you determine which articles on your blog had the most impact. Basically, in time you will learn to “read your audience’s mind”.
3. Abide by Google’s demands when writing content
Too many bloggers these days focus on SEO-like type of articles. It’s not something bad, although you shouldn’t aim at chasing the algorithms; at least not in the beginning. Every year, Google spends a fortune on hiring the best PhDs, scientists, and engineers to help improve its algorithms and ban websites that are too “spammy”. Rumor has it that Google performs search engine changes every 2 hours. Even if find a way to fool the system, sooner or later it will catch you. Wouldn’t it be smarter to focus on quality content only? Authority works best for Google, and even if it might take some time for your blog to rank high, in the end, your efforts will be rewarded.
4. Social media’s role in driving traffic
We’ve seen major changes happening in the world of SEO in the past 10 years. It can’t be ignored, but to work, it has to be done right. Patel emphasized that two of important websites on the web – About.com and The Atlantic – have been dramatically altered by SEO changes. About.com, in particular, took a turn for the worse. Since the website focused too much on an SEO approach, it ended up becoming a “content mill”. The Atlantic, on the other hand, stopped asking writers to write with SEO in mind and recommended them to write social media-friendly articles. About.com’s popularity has decreased tremendously, whereas The Atlantic went from 500,000 visitors a month all the way to more than 14 million.
There’s no doubt about it – social media is fundamental at driving traffic. Recently, it started playing a very important role in helping blogs increase in ranking too. Google has begun counting tweets, shares, and likes. What matters is that you focus as much as possible on quality content on social platforms. Don’t ignore your audience. Answer their comments, set up weekly queries (competitions, challenges, etc.), and find a way to keep your readers engaged. Treat them as humans and you’ll have more chances to keep them around for longer.
Blogging can help you make a fortune. Although content alone won’t do the trick. It’s not enough to focus on writing top-notch articles to see a spike in ROI. Blogging has to be combined with e-mail, social media, and direct marketing to render results. Together, these digital marketing strategies will help your blog go from $1,000 in profit to $1 million. Hustle and don’t let anything stand in your way.
Write with authority in mind, and if you feel the need to ask for help, do it. There’s nothing wrong with asking for help. A competent digital web agency might be able to change your perception. The right piece of advice is all you need to convert a mere blog into a thriving online business.