I love making money from blogging. I love every aspect from buying a domain to seeing that first dollar come in. That does not mean it is easy however. I have had my fair share of colossal flop sites that were poorly thought out and planned out and as a result went nowhere. And that is what today’s post is about. There is a good chance you are not ready to make money blogging from Day One. (In most cases, you are not going to be accepted for income opportunities from Day One anyway.) If you do not have the knowledge, skills and vision, you are going to be sadly disappointed in a flash.
Top 7 Reasons You Are NOT Ready to Make Money Blogging
You Don’t Understand the Difference Between an Ad Network, Affiliate Marketing and In-Text Advertising
These are three very different income avenues. Before you are ready to monetize your blog, you need to know what “make money blogging” even means. You do not just open up a free blog, start publishing posts and magically money falls out of your computer tower. You need to know where this money comes from, what these advertisers expect in return for their cash and whether your site is a good fit for that type of advertising.
You Don’t Have Anything to Sell
This goes a bit deeper into the above. And you do not necessarily need to be selling your own product. Many bloggers strictly promote other’s products. But, if you have no clue what you are promoting in the first place, you are going to go nowhere fast. What are your readers looking for? Are there products on the market that fill this need? Can you get paid to promote them? If not, are there alternatives you are willing to consider?
You Don’t Like Stats
Of all of the bloggers I am close with, I would say a good half-day to full-day each month is spent mulling over traffic analytics and income reports. You need to be comfortable with finding and analyzing these numbers. If you are going to succeed in profit blogging, you need to know where traffic is coming from, what individual pages are converting, what pages are not and why, and, perhaps first and foremost, you need to know what these numbers mean in order to provide them to potential advertisers, affiliate networks, etc. who are certainly going to ask.
You Don’t Know How to Update Your Website
As much as we may refer to some aspects of blogging as “passive income,” this term is incredibly misleading. You need to be able to change out ads that are not performing. You need to be able to update posts and reviews that are not converting. If an advertiser shuts down their affiliate program or moves to another network, you need to be able to make those moves also – and sometimes quickly. I really don’t know of any “passive income” opportunity that is entirely passive. Unless, of course, you have someone else doing the work.
You Don’t Have a Specific Mission and Target Market
If you cannot clearly explain the specific message of your blog, you are not ready to monetize it. Many advertisers want details. Who is your audience? What do you provide to them that they can’t get elsewhere? “I’ll talk about anything that makes a buck,” is not a mission statement. “I’ll figure it out later,” is not a mission statement. “Everyone with a computer,” is a not a target market.
You Don’t Have a Specific and Actionable Plan
You are going to be sadly disappointed, and quickly, if you think throwing up a few links and banners is going to make money. It takes a lot of practice, patience and time to earn a good living from blogging. It takes waking up every morning ready to research, write, market, rinse and repeat. You need a plan or you are going to feel overwhelmed and defeated before you make a penny. After you nail down your mission and target market, figure out your publishing and marketing schedule. Know where you are going to market and find new readers. Clear direction is directly tied to success.
You Don’t Want a Relationship
The days of the internet marketing one-night stand are over. Repeat readers and buyers are where the money is at. And, customer retention is far easier and more cost-effective than new customer acquisition. Once you have them on the hook (your blog), keep them coming back. Get them on your newsletter list (I recommend AWeber). If they aren’t quite ready for that, get them into your social network. The key here is to not let them walk away without taking an action that will get them to return. We buy from those we know. Get them in your network.
The vast majority of those that start blogging just for the money give up before they make a red cent. If money is your only motivator, you are going to lose interest and become frustrated before you see any success. Be honest with yourself. Get educated. Be specific. Go into your new blogging business – if you want a business, that is – with open eyes and a clear plan.
When did you know you were ready to make money blogging? Or, are you yet?
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