Blogging has become one of the most popular methods people turn to when they want to diversify their income. The major attraction to blogging comes from the foundational aspect that your blog can be based on a topic or niche that you are passionate about. What is better than making money doing (writing) about something that you love? An added benefit of blogging is that blogs are relatively cheap to get started.
Successfully creating multiple income streams reduces your reliance on a sole pay cheque. This helps you navigate any income disruptions or unexpected costs with less stress and worrying. As you create more income streams, the pressure on any one to create huge amounts becomes less and less – making it easier to see opportunities in other potential money-making possibilities.
Looking to add more income streams to your existing blog? Wanting to know what opportunities are out there for you if you started a blog? Below you will find a list of income streams our CreatorPilot users have leveraged to make more money.
Sponsored content & brand collaborations
For both bloggers and influencers, brand collaborations and their sponsored content are the first income stream that come to mind. Getting paid and being given free product are exciting when the brand and the products are directly associated to the topic of your blog. Brands are pouring money into their collaborations and as a result more and more bloggers are being pitched on their participation.
The good news is that brands are starting to focus on bloggers and influencers with smaller audience sizes. This means that it is easier than ever to secure brand collaborations early in the lifetime of your blog.
Interested in attracting more brands? Click here to read our article on attracting brands as an influencer.
Banner advertising is an income stream that you have probably contributed to before. A banner is a visual ad that usually appears around the perimeter of a website or blog. When you have one of these on your website, you get paid each time someone clicks on an ad. Sometimes you’ll also get percentage commission on a sale that is made as a result of a click from your site.
Using banner ads on your blog is a completely passive income stream – meaning once it’s set up, you can leave it to do its thing. To get started you can set up Google AdSense by clicking here.
Blogs rely on you to write and if you can show that you are a pretty good writer, there are a few different services that you can offer. The obvious one is writing. You can sell your services as a freelance writer to help other bloggers create and scale their content creation. When pitching yourself as a writer, use your own blog as a portfolio of your writing skills. This will give a prospective client insight into your SEO capabilities, writing style and the next writing service you can offer – proofreading and editing. Bloggers need to proofread and edit their content multiple times before it is live on their site. As a blog’s traffic grows, this becomes even more and more important.
You’ve probably met at least one person who has mentioned that they should start a blog or want to start one. The catch for most people is that they don’t know where to begin. Once your blog is set up and you are seeing some results, your experience becomes valuable to someone looking to replicate the process you took. Some people offer service packages that cover the basic steps to get a blog set up and others offer hourly consulting.
Sell your own products
Selling your own products is a very broad opportunity to make money. Some bloggers create merchandise that their audience can purchase, others provide education content like an eBooks or additional content hidden behind a paywall. Consider the topic of your blog and do some research into what other blogs in your niche are doing to sell products.
Affiliate marketing like banner ads is something that you can utilize early on in your blogging journey to generate a trickle of income which increases as your traffic grows. By linking to specific products or websites, when traffic to your blog clicks on a link and makes a purchase, you get paid. There are many affiliate marketing platforms as well as many brands have specific affiliate marketing programs on their website. If this is appealing to you, check out some of your favorite brands and see what you can find!
Create an online course
People often think that they need to be an expert to create a course and share knowledge but this is not the case. Having knowledge is key but whether the knowledge is knowledge you already have or knowledge you learn for the sake of the course, it really doesn’t matter. Once you’ve set up your course, it can become a great source of income over time, especially if you build it to require no assistance from you after purchase so people can go through it on their own.
Social media management and virtual assisting
A key part of growing a blog is your complementary social media accounts. These help to grow your audience and continue to engage with your readers when they aren’t actively on your blog reading your content. Managing social media accounts is something that many bloggers, influencers and businesses look for outsourced help with. Becoming a virtual assistant for other bloggers, influencers or small businesses can include a wide range of potential tasks or skills that you offer. Often times these are simpler than you think, yet you can make money doing them. For example, monitoring an email inbox or finding affiliate programs to register for.