From 2008 to 2010, I was BlogHer's Product Director, overseeing the roadmap for development of all online properties, including the ad network. When the company and I parted ways (amicably), I knew I wanted to create a new site with the intent of making it my primary revenue driver.
A few months later, I launched Punk Domestics, an aggregation hub for people interested in DIY food and preservation projects. A community blossomed, and things proceeded on the trajectory I had planned. Initially.
Before long, all my assumptions about the online advertising market began to fail. CPMs were plummeting as advertisers shied away from display banners for more direct engagement. While many bloggers benefited greatly from this shift, I found it hard to find synergy with many brands, particularly food brands. After all, how could I take money from a major brand of canned tomatoes while simultaneously encouraging my community to can their own tomatoes?
For me, revenue diversification was an imperative, not a choice.
I started with what I knew best: Writing. Luckily, because Punk Domestics had such clear intent and gestalt, the assignments came to me almost immediately. First, a local indie paper approached me, and shortly afterwards came Cooking Channel.
By way of Cooking Channel, I landed some work with Food Network. As my name and reputation spread, the opportunities expanded. I moved into copywriting and consultation in email marketing. Sometimes I was learning on the fly the material I was supposed to be an authority on.
In 2011, a fairly substantial phenomenon occurred in the food blog universe. Bloggers Cathy Barrow and Kim Foster kicked off the so-called Charcutepalooza, launching a yearlong challenge to undertake increasingly advanced monthly projects from the book Charcuterie by Michael Ruhlman and Brian Polcyn.
Before long, hundreds of bloggers jumped on the bandwagon, and many became community members of Punk Domestics.
My friend Vanessa told me that every year, her family in Romagna, Italy, worked with a local butcher to slaughter a hog and turn it into salumi. Would my community be interested in doing a tour where we participate in this, and also other kitchen classes? I didn't have to think long to say yes. We built an itinerary, and sold it pretty handily. It wasn't a huge revenue generator, but it held promise.
This was the first time I considered productizing something beyond the core proposition of the site. I was offering more than a way to discover what other people were doing; it was an opportunity to get hands-on and learn from masters.
Beyond salumi, we also made preserves, fresh pasta, and the flatbread known as piadina. It was a natural fit for the community. I recently repeated the experience with a slightly different itinerary, and am currently offering a third this upcoming January.
In both cases, these revenue streams came at the intersection of needs and my abilities. If you're looking to expand your revenue opportunities beyond basic advertising and sponsored posts, what's your value proposition?
Take an inventory of what it is you actually do, what you like to do, and what you do well. When I rattle off the litany of jobs I have, I often forget to mention that I am a tour guide, because it's my fun job. But when you consider that I am a writer who loves food and has been a tour guide for 14 years, the notion of leading my own food tours is fairly obvious.
Are you an authority on a particular topic? Consider teaching classes, either in person or via online platforms such as CreativeLive and Craftsy.
Do you offer something no one else does, such as specific advice? Consider offering subscriptions for access or specific paid content.
Do you have a strong aesthetic or a very niche audience? Consider curated retail either through affiliate programs or active fulfillment. A good example is QuitoKeeto, an online shop by Heidi Swanson of 101 Cookbooks. Alternatively, if you have massive reach, you may be able to work with a major brand to launch a product line. The best and most recent example of this is The Pioneer Woman's new line of dinnerware with Walmart.
There are endless opportunities, but you need to do your homework before you embark.
I spoke on a panel at BlogHer Food this past weekend on the subject, alongside some very smart co-panelists. In particular, Gabriela Pereria of DIYMFA brought her expertise as a product developer, with some key steps to the process:
Step 1: Take inventory. What have you already created?
Step 2: Check for traction. Look at both quantitative & qualitative data.
Step 3: Brainstorm! Focus on concepts, not products.
Step 4: Take inventory (again). Focus on topics/posts that fit your brainstorm.
Step 5: Decide what to build. Do not skip to this step before doing steps 1-4.
Step 6: Build it! Go for the minimum viable product (MVP).
Karen Ballum left everyone with some useful homework: Come up with your three-word resume. Hers were "Questioner. Connector. Amplifier." I'd have to say mine are "Obsessive. Geek. Raconteur." What three words encompass exactly who you are and what you do? Tweet them with the hashtag #My3Words, then use them to push toward your next product.
Have you tried diversifying your blog's revenue streams?
Source: Make More Money From Your Blog: How I Diversified My Blogging Revenue
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