Namaste Ji,
A quick recap of what we have covered so far
Day 1: Side benefits of starting a blog (Money is the side effect of what you can do with blogging)
Day 2: Selecting a profitable niche (Pick one from Health, Wealth or Relationships)
Day 3: Nitty Gritty of Starting a blog and installing free tools (It's damn easy and cheap to start your blog with WordPress+Siteground hosting)
Congratulations, If you have already started your blog.
If you bought hosting from SiteGround then I can send you FREE copy of my most popular E-book (Validate Your Ideas) that is worth Rs. 500.
Just forward me the payment receipt of Siteground hosting to get the free E-book.
Anyways,
Today we will discuss how to make money from the blogging business.
I talked about making money from online work multiple times in my articles. You may not read all my articles so I am summarising everything here.
Who will pay you for writing articles?
The honest answer is that no one will pay you for writing articles on your own blog.
However, you can earn money as a freelance writer. YourStory paid me in my struggle period for writing articles for them. I made about Rs. 30,000 per month by writing for different publications and companies. But there is no long-term benefit for writing for others as you sell your content for a one-time payment.
How can I make money from my own blog?
That's a good question. If we write for ourselves then no one will pay us... but we will make long-term value for ourselves.
I have published just 18 articles in the first year on CashOverflow. I generated about 10,000 monthly traffic.
I did not worry about making money from CashOverflow because it was my hobby blog.
I made ZERO money from CashOverflow in the first year.
The truth is that I did not know how to effectively monetize a blog. I am big time hater of Google Adsense because it spoils the reading experience of my readers. So I never displayed Ads on my blog.
In September 2016 (after about 1.5 years of starting my blog), I learned about Affiliate Marketing. I started making Rs. 60,000 from the first month itself.
Click here to read my first month's transparent income report
I still make most of the money from Affiliate Marketing. We will talk about affiliate marketing in future emails.
Right now, understand two most important things
#1. You make money when you get traffic on your website
#2. You get traffic when you publish articles on your website.
So, your next action item is publishing articles on your blog. You may fail in the initial days, so what? everyone fails.
I lost 15,00,000 rupees with my first failed startup. You are at the much safer place than where I was.
You can just invest as little as $48 in hosting. You risk less than Rs. 5000 and you don't have to pay anything to me.
You are buying your website directly from SiteGround and you get 60% discount on hosting when you use this discounted link.
Here is the detailed guide on starting up your website.
I recommend you buying the GrowBig plan from Siteground where you can host multiple websites at no extra cost.
Lockin your discounted prices for 3 years by selecting 36 months plan.
Ok.. Back to making money from blog part..
So, I started making more than Rs. 100,000 by the end of 2016.
Then I discovered more ways to make money from my blogging efforts.
#1. By partnerships
After building a brand, I was able to partner with industry influencers like JagoInvestor and companies like ClearTax and EquityMaster.
#2. VIP Newsletters
I started premium weekly email newsletters. More than 400 people subscribed to paid newsletters. The subscriptions are closed now. Recently I opened enrollments for VIP Newsletters for 24 hours and made Rs. 50,000 by enrolling 25 new people.
In just 24 hours and by sending 2-3 emails. That's the power of blogging.
#3. Ebooks and Courses
Similarly, I started selling courses and E-books last year. If I scale e-courses business then I can make a lot of money. It's one-time effort to record videos and make a course.
If you sell Rs. 2000 course to 1000 people then you make 20,00,000 Rupees. Yes, 20 Lakh rupees. More than the annual salary of a high-end manager in an IT company.
The same 20 Lakh can be earned by selling Rs. 20,000 course to just 100 people.
#4. Consulting
I help startups and bloggers to improve their content marketing. Minimum consulting charges are Rs. 5000 per hour. For long-term clients I charge as much as Rs. 100,000 per month. Since it takes a lot of my time, I avoid taking more than one consulting work per month.
#5. Content Review
We make money when someone sends their articles for our review. It's another service where we add soul to the content of our client by giving our feedback.
This way, you can find infinite ways to make money from your blog..
Let me give you some more ideas - Showing Ads in Facebook Instant Articles
- Retargeting your website traffic on Facebook to sell them products
- Selling side services - like SEO, design, content writing
- Affiliate marketing on YouTube
- Speaking at conferences
- Personal coaching programs
- Selling physical products on your website
- Selling Amazon products
- Making a software tool and selling to your audience
- Running paid workshops
- Paid membership programs
You can figure out innovative ways to monetize as you grow your business.
I would have never discovered paid VIP Newsletter model without starting my blog at the first place. Affiliate marketing also worked for me when I was having 30,000 monthly traffic on my website.
You know that the opportunities are unlimited.
The limit is at your own actions.
So, tell me, what is your next step?
Pardeep Goyal
A Kanjoos Baniya, Founder of CashOverflow
Day 5 topic would be : Overcoming initial obstacles of blogging (Real tips those worked for me)
Make sure you start by that time..
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