Week 25: Grow Income, Tactic 7

What can you do this week?

• Consider starting a blog.

• Research monetization strategies for your blog idea.

• Explore the ways a blog can help you build wealth.

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Isn’t Blogging Dead?

• We definitely read less as a society.

• Blogs also don’t have to be purely long form writing.

• Embedding video resources can bring your content to non-readers.

• YouTube is the most widely used platform among US adults, with 81% of respondents — and 95% of adults 18-29 — saying they use it.

  

Do Blogs Actually Make Money?

• If you’re at all familiar with the Make It series from CNBC, you will have seen many examples.

• Making Sense of Cents is one that can definitely provide some inspiration.

• The take away from her story is many years of dedication to build a following over time can produce real wealth.

• If you’re skeptical, she shares her financial records here. 

• This was during blogging’s real rise in popularity as well.

  

Is Blogging A Sure Thing?

• No business venture is a sure thing.

• Because there is a low barrier of entry in an industry, that can sometimes translate to a lower probability of “making it big”.

• Figures online are inconsistent and not well sourced but several pointed to an average of around $40k annual earnings but I would not cite here as the sources were very questionable.

• As a blogger myself, mine is a hobby so I don’t make money my primary goal.

• You can see below what years of work can translate into with Amazon affiliate marketing as just one example that tells a very different story than above.

  

How Do Blogs Make Money?

• Affiliate marketing is very common. Links to vendors products are included in your content and if readers purchase, you get a commission.

• Sponsorships and ads are when companies pay you to promote their products directly in your content.

• e-Commerce is including a store on your blog, selling others or your own white-label products.

• Sell your services like coaching, subscriptions to exclusive content, or other services.

• Create courses your readers pay for additional information on your niche topic.

  

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