Monday, April 3, 2017

How do Bloggers Make Money?

When I tell people I'm a blogger, one of the first questions they ask me is how do bloggers make money? I usually respond with, they don't. But that's not entirely true. My blog has provided me with some side income, but a lot of that money isn't directly tied to my blog.

I think the real question people want to be answered is how do bloggers make enough money to do it full-time? It depends on the blogger and what opportunities come up. I do believe you can blog full-time, but you need to be a real hustler or offer something that people want.

Here's how bloggers make money.

how do bloggers make money

The have a "real job"

Some full-time bloggers still use their old corporate skills to make money. Web design, PR, Photography, and marketing are just a few things you can do remotely. Heck, some bloggers even take on this kind of work when they're back home to build up their travel funds. That sort of income isn't directly related to their blog, but it's relevant want you want to know how do bloggers make money.

Google AdSense / banner ads

Many bloggers get excited about AdSense at the beginning and for a good reason. If you run AdSense, you'll get a payout based on how many readers you get. It can be easy money especially if you get a lot of visitors. Alternatively, some companies manage your banners ads (like mine) which are slightly more targeted and can be good complement your site better.

Affiliate sales

Depending on the blog, affiliate sales can be big business. I know of a few U.S. bloggers who're making tens of thousands of dollars a month from affiliate sales alone a month. What are affiliate sales? It's where the blogger gets a commission when their readers sign up with one of their affiliate links. Affiliate links can be lucrative, even I use them for Amex and Airbnb, the trick is only to do affiliate sales with companies you trust.

Freelance writing

This is my primary source of income side income. Once my blog started to pick up, a few different companies approached me to start writing for them. I started at a basic rate and eventually raised my rates as my profile increased. But how much does freelance writing pay? It can be anywhere from $50 an article to $500. It just depends on your skill level and the client's budget. 

Sponsored posts

Sponsored posts are similar to freelance writing, but the article appears on the blogger's site. It's basically paid advertising and what rate a blogger charges depends on their reputation and metrics. Sponsored posts are advertising so it's not uncommon for bloggers to charge a higher rate compared to their freelance writing rate.

Social media promotion

If you have a lot of followers on social media, brands may reach out to you to get access to your followers. You don't even need to have a ton of followers, if you're an expert in your field, you could still be paid for social media promotion. That being said, you really need to understand social media and how to present yourself to be seriously considered. Instagram, YouTube, and Twitter are all forms of social media where you can sell your services.

Paid events

This depends on the type of blogger. Well established travel bloggers can demand to get paid for trips while others may be happy if just free accommodations are offered. As a finance blogger, I've been paid to do speaking events. Fashion, lifestyle, food, and mommy bloggers might be paid to attend certain events. These types of opportunities usually come up based on reputation and relationships.

Digital products

Some personal finance friends of mine such as John Robertson and Money After Graduation have paid courses which are obviously a form of income for them. I think paid courses are great since they're there to educate you. The people who create them are usually passionate about their product and will give you part of the course for free so you can test it out before buying.

Can bloggers survive on this income?

That's a relative question since there are so many different variables. If you're a travel blogger who spends six months a year in Thailand, you could probably live quite well on $30,000 a year. Things will probably be more difficult for full-time fashion bloggers living in New York or Milan that need to constantly look their best.

I certainly think it's possible to be a full-time blogger, but you need to think about what your goals are. Sure I could quit my job and get by on my current blog income, but I also probably wouldn't have any money saved. If I ran into a financial emergency, I might be at risk which is why I'm happy that I'm still employed full-time with benefits.

That being said, there are quite a few bloggers out there who're making a lot of money doing what they love. They started with nothing and have built a brand for themselves. You need to give them credit for going for it.

Final word

If you've ever wondered how do bloggers make money? Understand that there are multiple ways they can make money. Determining if that's enough to do it full-time is a question only each individual blogger can answer.


Source: How do Bloggers Make Money?

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