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How I Monetize My Blog and How You Can Too

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How You Make Money From Your Blog

This weekend I shall be attending Ryan Lee’s Continuity Summit in Stamford, Connecticut and next week I shall be in Washington DC for Yanik Silver’s Underground Online Seminar

But before I go I thought I’d produce both a quick video and a blog post to answer one of the most frequently asked questions I receive – which is: ‘How Do I Monetize My Blog?’ or ‘How Can I Monetize My Blog?’

Believe it or not, some people, even now, don’t fully understand how I monetize this blog.

I still get people wondering why I don’t accept advertising!

This video explains one strategy I use when it comes to putting Interviews on this website, but there are other methods such as list building, ecourse and endorsing offers from other Bloggers. In addition I have also expanded on some of what I say in the video in the post that follows (It was just going to be a transcript of the video – but I got carried away and added a good bit more)

As always I look forward to your comments.

To Our Success

Michael

PS: Attending seminars and masterminding with fellow Internet Entrepreneurs has given me the biggest return on investment of anything I have done in my online business. There are always more ways to improve our businesses – and I am looking forward to returning home in a couple of weeks, with even more ideas, which of course I will share here. I also hope to get the chance to do a blog post or two as I travel – and of course you can always keep up with the latest goings on at Twitter.com/IncomeDiary

PPS: By the way I am looking forward to meeting a good number my readers in Stamford and DC. It will be a Blast!

How I Monetize My Blog – The Video

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How I Monetize My Blog – Expanded

Today I wanted to share with you a method I use to monetize my sites.

Ingredient No1: INSPIRATION

For example an INTERVIEW with a successful Internet Marketer

For an interview I have three main ways to monetize:

1) You start with the interviewee’s product. For example if it was Ryan Lee that I was interviewing I’d recommend one of his products. Additionally if I found there was a good number of conversions for the offer I may later do a special feature / promotion on the blog / to the list (but that is for later)

2) In addition in just about every blog post I will include links to other worthwhile products that I recommend. As a lot of my readers are bloggers it naturally makes sense to include some Blogging Related products here. That is why you see me promoting: Web Domination by Nick Tart and Blog Mastermind by Yaro Starak.

I have also discovered that some people only every seem to buy cheap products while others will always opt for the most expensive option – partly I believe because some people believe the more you pay, the more value you get. For this reason the two products I suggest are at different ends of the spectrum when it comes to price.

3) Create a comparison page or comparison chart. I cannot do this for every product but were I can, I have found it makes a big difference to conversions. My page on Blogging Resources is a good example of a comparison page.

You can have a comparison page for just about every product type – e.g. foods, tools, fitness equipment, website hosting etc

In most comparisons you will also want to make a recommendation or promote one option over and above another. If you can offer your readers a ‘coupon code’ for your recommendation then you will have a lot more conversions of the type you want

A great example of using a ‘coupon code’ is when people use my Coupon Code “Retireat21” to get their first month of hosting with Hostgator for just 1 cent!

To give you another example – I found a great Twitter tool so I created a post on how to drive traffic with Twitter and featured that product and others on it.

This is an example of discovering something that works from a Blog Post – and then making a bigger feature of it elsewhere on the site.

Every-time anyone asks me about Twitter – I direct them to that page.

How Else Do I Make Money?

Well of course I have an email list, people who have signed up for the IncomeDiary.com eCourse or one of the other optins within the site. I have covered Email List Building and Auto-responders in detail in this post, so will not go into great detail here – just suffice to say there is something magical about sending out an email to your list and seeing a $1000 or more turn up in your commissions account within a few hours.

If you look at IncomeDiary.com in detail you will see that it is designed to help people to take positive action in their online business TODAY.

It is the “No Leakage Rule” applied — this website does not have a Blog Roll or anything like that. At IncomeDiary.com I have concentrated on delivering outstanding value – value that encourages people to join my lists / follow me.

This is perhaps my strongest recommendation to you – that you deliver value first and the money really will follow. A lot of people struggle with writing posts that can take several days to put together (such as researching a list) but if you are committed to doing that on a regular basis you will get the visitors and many of those visitors will join your email list.

Once you get on the IncomeDiary.com email list, you will receive a series of emails (eCourse) via an Autoresponder. You’ll get like day one, day two, week four, week five and various other Free reports which produce income via affiliate commissions. Make sure to read Email List Building and Auto-responders in detail to be fully conversant with this and in particular how to email and NOT email your lists. No one likes a Spammer.

Also, and this is most important get yourself a reputation for delivering value and benefit – that means people are more likely to read your emails when you get them and take action.

One thing that has been very successful for me has been to promote other peoples products as the go through the Product Launch Sequence. You will often find that there are reports and videos with great value in them given away in the launch. Even if people don’t but the product people will get value from these free reports / videos and if you do it right, people will thank you.

VERY IMPORTANT: Only ever promote a product you would buy yourself and only a product from an individual you know and trust yourself.

It makes me cringe when I see some people promoting several different offerings from different Marketers every week – some even promote more than one offering in a day! I hate to say it — but there really is not that many great products around – so frankly finding more than a few offers per month to promote is difficult. (Anyone who is promoting more than that I think must be going for QUANTITY over QUALITY)

Talking of Promotions and Product Launches – it is nice to find products that pay you a recurring commission every month, for as long as a customer remains a member of the program. This applies not just to membership websites but also to some software products, indeed one of my nicest recurring incomes comes from promoting some software.

The great thing about most of these offers is that there will be a special introduction price – e.g $1 Trial for the first month which allows people to try out a product before making a serious financial commitment. AWeber Offer a $1 Trial which has proved very successful for me.

NB: Please note I do not promote “forced continuity” — This is where people are not fully aware of what they are committing to.

Forced continuity is a big NO, NO. Fortunately that is becoming less of an issue and most sellers make everything clear in the sign-up process, but in the past it has been an issue.

For this reason I make sure to only promote offers from ethical, reliable, honest marketers. And you should of course do the same.

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  • http://www.johnpaulaguiar.com John Paul Aguiar

    Michael, great post. Nice to see you have stuck with the no leakage concept you told me about few mnths back.

    This goes to show, there is more then one way to make money with your blog, Adsense and adverting isn’t the only way.

  • http://www.buildthatlist.com Tom | Build That List

    I am trying to apply a similar no leakage policy to my new blog. I love what you are doing here and I didn’t realise that you now showed how many subscribers you have (so nice work on the 15,000!)

  • http://www.jacknguyen.com Jack – Online Marketing Blog

    Agrees with John – You can make money either way, as long as you add valuable content, your list will grow.

  • Luke Etheridge

    Hey Michael, Great post bud!

    Yea that no leakage rule is a good one….I believe James Schramko once mentioned it in the interview I did with him, I am trying to impliment this with my blog as we speak.

    Videos good too man – I’ve been thinking about this for a while with my own site…always nice to see the owner of the blog say a few words, tends to add some reality and truth. Might start doing some Camtasia Tutorials soon.

    Let me know when you’re back from your travels man and we’ll have to go for that beer or coffee down in Southampton.

    Thanks again mate,

    Luke

  • Fazreen

    I’m applying the same rule ‘no leakage rule’. I learn from your blog. Try to implement everything I read a t your blog and your ecourse. Hopefully I got slightly result as you

  • http://www.prodigalconcepts.com rod rodriguez

    hmmn, a lot of interesting points here, can’t wait to try it out for myself… thanks a lot for sharing…

  • http://ascenttofreedom.wordpress.com DJ Wetzel

    Great information. I will certainly enjoy implementing some of these strategies as I move forward with my online endeavors.

  • http://www.thinkbigthinkmoney.com Ken Siew

    Hey Michael, thank you for this post. I’m actually in the middle of monetizing my own blog and trying to decide on my own revenue model that would be best for my readers, and I got some good inspiration from this post.

    I signed up for Woothemes through your affiliate link, and I think it’s a good product. If you don’t promote good stuffs, people will find out eventually and your revenue won’t grow. Thanks for the reminder!

  • http://www.ridzuanrichie.com Richie

    too much ads will be ruining our blog.. hoho

  • http://www.sellmyknowledgeonline.com Michael

    Hi Michael
    Your starting point is interesting here. I find that no matter how many times I tell people how to monetize anything online. I find I have to say it over and over. Which I don’t mind but it is interesting that this happens. You appear to be saying the same thing I’m am not sure why this is. But there seems to be a block that stops people absorbing the information.

    I’m going to post somthing on this at my blog and just to raise more awareness of the action that people aren’t taking.
    Thanks again

    Michael
    T

    • http://tranceday.blogspot.com/ David

      it is the time to have a blog for almost everyone in the world! the internet market is going to be the world economy and people must understand this fact in order to absorb the information about internet life!

      a lot of thanks to both Michaels ;)

  • Nick Tart

    You make it seem so simple, Michael! I’ll have to come back and watch the video. I’m in a noisy coffee shop now and I don’t have my headphones.

    Looking forward to meeting you next week!

  • Alan

    Hey Michael. Nice simple chart thanks! The no leakage rule is something I will look at today and do something about. And there is more I can get from this too. Time for some changes test and measure again. Thanks heaps for that video.
    Alan

  • http://www.salmanahsan.com/ S Ahsan

    Thanks for the honest tips Michael.
    “Only ever promote a product you would buy yourself and only a product from an individual you know and trust yourself.” — i love that and thats how it should be

  • Lara Jane | Ultimate Lifestyle Project

    Brilliant advice Michael. Thanks for sharing your marketing strategy with us!

  • http://www.elie-palima.com elie

    having no advertisements on a blog is a big impression. the first time I visited your site I was surprised you didn’t sell advertising,

    now I know why.. :-)

  • http://guigo.eu Guigo

    Nice work with graph, try also using Freemind, it’s perfect when it comes to concepts, idea visualization and simply putting your thoughts on a paper ;)

  • http://www.cruisinaltitude.com Kerwin

    Good solid stuff Michael. Thanks again for the tips. Great to meet you at the Summit as well.
    I do ads as I have not quite figured out how to do as Michael says here, but I’m working on that and is already using some of your tips.

    http://www.cruisinaltitude.com
    http://www.passrider.com

  • http://www.Escapingthe9to5.com Maren Kate

    Wow, this is a treasure trove of info :) thank you so much for sharing it, I especially like the duel nature of the video & the text portion… it kind of helps every learner out there, both those who like video and those who like to read. Very informative and really lights a fire for me to do the same.

  • http://www.scriptingforsuccess.com/big-mission-group-projects/ Ruth

    Thanks Michael,

    I too enjoyed Ryan Lee’s event in Stamford, CT.! Glad you could make it!!

  • Trainerpack

    Good explanation with the chart!

  • cliiff

    Hi Michael,
    thanks for the tips,
    i can say your tips really motivate me alot
    and encourage me to set up a blog

  • http://www.how2rap.com Jamaal West

    Hello Michael,

    I always read your work and frequently click on your emails 1st out of a boat load of others. I got my first spark in trying to make money on the internet through Instant Income by Robert G. Allen, shortly afterwards I came across an article on Yanik Silver in Millionaire Blueprints and from there I became a heavy persuer of internet income. This the 1st post I’ve made but I have became a faithful follower. Just wanted to say good job…also I hope you enjoy your time in DC. I’m in Maryland not far from where you’ll be. Take care

    P.S. I was so inspired by the article you did on “20 Things Every Entrpeneur Should Own” I had to conjure up my own – I have a different niche but the same principles apply – http://www.how2rap.com/11Things-Every-Indie-Rapper-Needs-In-Their-Career.html

  • Tad Wolfe

    Thank you so much for clearing this up Michael, I think I have been trying to make it to hard on myself. I need to realize just keep it simple. It was great meeting you at Ryan’s summit.

    My best to you,

    Tad

  • Build Web Traffic

    Excellent blueprint for making money and monetizing a website. Thank you so much for sharing Michael. I have just subscribed and will be checking out more material.

  • http://moneymakinggamer.wordpress.com/ Brandon

    Hey I just stumbled upon your blog and I love it! I can already tell I am going to learn a lot of great tips from you!

    I just started blogging 2 days ago and I think my blog looks pretty good! Let me know what you think and how I could improve it maybe?

  • Vandana

    I am a fan Michael, Bravo! & Thanks.

  • http://Millionaireat24.com Aaron Darko

    Jammal I just read your comment. Thats a great way to apply what you learn from Michael to your niche. I like that post man.

    Michael this is a very informal video packed with pure great content. I applaud you for providing so much value every time you post. You set the bar real high. I have to raise it so we keep adding more value to people’s lives.

    Thanks man

  • http://www.drinkwhat.com steve

    Great information and it opens my eye to see more options that are out there.

  • Jeff

    Jammal I just read your comment. Thats a great way to apply what you learn from Michael to your niche. I like that post man.

    Michael this is a very informal video packed with pure great content. I applaud you for providing so much value every time you post. You set the bar real high. I have to raise it so we keep adding more value to people’s lives.

    Thanks man

  • http://www.theleadershipcoach.com Paul Andrew

    Thanks Michael, I picked up a few ideas I’ll implement from your article

  • http://createyouronlinebiz.com Kursat

    Excellent. I have just spend the last 2 hours reading your blog :) A bit tired now, so will carry on tomorrow, but thanks for the great articles.

  • Irma

    Hi Michael,

    do you really have personal experience with the other products you promote on your blog, or how do you choose the products you promote? I am asking because I have read some not pleasant reviews on Blogging To The Bank by Rob Benwell.

    Thanks,
    BR I.

  • Phil

    Michael,

    Firstly a massive thank you for your 7 day course i’ve learned a massive amount from it, i do have a question though, i know you don’t advise fixed rate adverts but is there anywhere that i could find an avertiser who would pay a fixed rate for an advert on my blog Like a directory.

    Thanks again,

    Phil

  • Anne

    Wow, that’s so great! thanks for this post. I learned a lot! Hopefully I can apply these in my blog too when the time is right. I just started my blog so hopefully after a month or so, I will be able to monetize my blog.

  • La Verne

    Nice one Michael… I am always amaze how you deliver your knowledge without any thought of not sharing what you know… You can help a lot…not all people like who will share their knowledge almost all for free…May God bless you more Michael.I will follow what you said…thanks :)

  • http://www.azadshaikh.com Azad Shaikh

    Great post, awesome as always. I would like to know what code you are using for graphics and boxes around your video? It’s really cool.

  • http://optionstradingiq.com Gavin

    No leakage baby! My new principle.

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