5 Small Profitable Business Ideas for Your Blogging Site
Blogging is one of the most profitable business ideas if you know how to do it right. However, most bloggers struggle to make a decent amount of money out of their blogs.
Believe it or not, you can even generate a six-figure income out of a blogging platform, if you take the advantages of a few money-making strategies for blogging site at once. The catch is – it takes time. But it’s a small price to pay if you want to have a great passive income.
The Rules of A Successful Blogging Site
ConvertKit’s 2017 report, stated that pro bloggers earned an average profit of over $100,000 the past year, while amateur bloggers (86%) earned around $9,000.
Wonder why this huge difference? It is because the pros know and follow the rules of the blogging business. Without these, forget about a 6-figure income, you will not even be able to drive a significant amount of traffic to your blogging site. So before you get into the business part of blogging, know and by heart these rules…
1. Focus on a specific niche.
2. Quality of your content matters.
Thorough, well written and researched content with study references gain more credibility than thin content.
2. Bring value to your blogging site by posting stuff that helps your audience in some way.
3. The more engaging your content, the more time and money your audience are gonna spend there.
4. If you have authority in your particular industry, your blog will have more credibility and you are more likely to drive traffic quickly.
With these basic rules your blog is now ready to start making money….
Small Profitable Business Ideas from Blogging
While there are many ways to earn money from a blogging platform, these are the some of the core strategies to get a decent income.
Top 5 business ideas to earn through blogging:
- Advertisement Programs.
- Affiliate Marketing.
- Company Scholarships.
- Selling ebooks, courses or consulting services.
- Subscription Business Models
Small Profitable Business Idea # 1 - Advertisement Programs
Alborz Fallah, founder of Car Advice.com started monetizing his website by display ads from Google Adsense on his blog posts. The revenue from this initially was just enough to cover his hosting bills.
Later, he went on to earn $30,000 just from sponsorship deals directly with car manufacturers. He didn’t need a product of his own to do this, just a good amount of people reading his blog posts was enough.
With ads to start working, your traffic must be at least 10,000+ visitors per day or more. So, it may not be the most profitable, but it is the fastest way to start earning for sure. Besides, they don’t have to be your only money-making strategy. You can always add other business models to your blogging platform at a later stage.
Small Profitable Business Idea # 2 - Affiliate Marketing
Affiliate marketing is increasingly becoming popular as approximately 15% of digital media industry’s revenue comes from it.
All you need is a niche, an affiliate product and people who would be interested in the product. For example, if you run a health blog, you can affiliate products like food and health supplements, fitness products etc.
Ryan Robinson is an example of a blogger who makes a 5-figure income per month just through affiliate marketing. Through his blogging platform, he provides value to his readers and only pitches for products he himself likes and uses rather than just pitching them for money.
Some businesses with a great affiliate marketing program are
Small Profitable Business Idea # 3 - Company Sponsorships
As more and more businesses are realizing the popularity and marketing potential of blogging, company sponsorships have become a growing trend. However, this business model is still not very commonly used, as you require a lot of traffic and credibility to attract companies to pay you a good amount for sponsorship deals.
Moreover, with sponsorships comes the responsibility of being transparent and honest with your readers. Losing your readers trust and your traffic in turn is not something a blogger can afford. Whenever, posting a sponsored blog post or review make sure it is honest.
Blogger Michelle Gardner of Making sense of cents makes tens of thousands of dollars per month through sponsored blog posts. Her focus is mainly on products she herself uses to ensure that her readers love it too.
Small Profitable Business Idea # 4 - Selling Ebooks, Courses or Consulting Services
Writing and selling an ebook on a blogging platform is not only a great business idea, but also an easy and quick way of evaluating people’s interest in your topic. If it can help teach something your readers are interested in, you are more likely to drive profits from it.
Same goes for digital online courses or consulting services. Develop and teach courses which bring value to your readers. You can make courses on fitness, technical skills or even cooking.
Whatever you are great at (you don’t have to be a professional) and which is in harmony with your blog posts. Just have your own unique way of teaching it to your audience so that they can fulfil a need.
Ramit Sethi of Iwillteachyoutoberich.com, makes millions from selling his courses only because he helps people make their lives better.
With this business model, one thing you must take care of is the purchase process on your blogging site. Make sure its not too complicated. According to a study by Baymard Institute, almost 70% of people abandon buying from a site due to some or the other complications in the process.
Small Profitable Business Idea # 5 - Subscription Business Models
A subscription plan on your blogging platform is a great online business idea where your visitors can become paid members to avail the exclusive offers and benefits of membership. These benefits can be in the form of webinars, meetings, reports etc.
The subscription business model or membership sites bring together a group of like-minded people giving them a sense of belonging.
Ryan Levesque was passionate about orchids, and created Orchids made easy. With a paid membership of $9.95 per month his revenue is $18k a month. His members have access to exclusive content as well as have the opportunity to meet and learn from other Orchid lovers.
If your visitors are ready to spend money on your blogging platform, then a subscription plan can be a very profitable business idea even with a few members.
Starting a blog today is a much simpler process than it was a few years back. Yet, majority of bloggers struggle to make a significant amount of money until they find a strategy that works for them. Now that you have seen some amazing real-life examples of successful bloggers, you know that it is possible to make a decent revenue even with a few followers.
All you need to do is follow the rules and when you have enough visitors to your blogging site, you are good to start making money!