Choose A Niche

Making money online is the dream of many, but the reality of few. There are nearly as many ways to make dollars as there are dollars to be made. From affiliate marketing to private advertising, you have a huge array of choices when it comes to monetizing your blog.

Just remember that whatever method(s) you choose must be tested and tweaked. Rarely will a monetization tactic work straight out of the box. Each blog has a different set of readers with a different set of triggers, get to know your readers and you will be able to offer them products they need. If you can do this, you can make money online.

When it comes to blog monetization methods, your options are often limited by certain statistics (pagerank, RSS subscribers, etc.). These statistics vary with different methods and they change as fast as technology. Here is a brief overview of some of the most popular ways to make money online.

Google Adsense

The bread and butter of many a pro-blogger, Google Adsense has severely lost its charm in the last six months. Many bloggers make the majority of their online income from this smart advertising script. However, it is quickly becoming less and less viable to do so. The Adsense terms of service are quite strict and, at the same time, vague. By leaving too much room for interpretation, Google makes it difficult for even the whitest-hatted blogger to be sure they won’t be penalized.

Adsense is easy to set up and it is fun to play with different options to achieve the best results. If you are willing to play closely by the rules, you can still make a good income with the program. My advice is to enjoy it, but do not quit your day job because of a good month (or five) with Adsense. In this case, it is especially important to diversify your income streams.

Contextual Advertising
Selling text links that pass Google rank is a quick way - these days - to ensure that you won’t have any rank to pass for very long. You have two choices here: (1)Give up on pagerank and sell all the texts links you want or (2) sell the links, but make sure you put “nofollow” code on them so that you are not selling pagerank. At this point, pagerank still matters and I predict it will for quite some time. For this reason, I would recommend protecting your rank and making sure you follow the rules when it comes to text links. Don’t think Google will give you a pass because you are just starting out. They will find you.

That said, there are some lucrative (if you are in the right niche) text linking options out there. For those of you not familiar with the term, a contextual linking program chooses words within your posts that are related to their advertisers’ sites and creates links. The links are usually double-underlined and a color other than standard blue (Kontera links are green).

Affiliate Marketing

This is arguably the very best way to make the very most money online. There are many ways to go about selling affiliate products. You can write a review on your blog, become active in forums and place affiliate information in your signature or simply place referral ads on your website.

If you are interested in affiliate marketing, I recommend
you learn from The Super Affiliate, Zac Johnson. This guy is the real deal, he has made serious money as an affiliate and he shares his tactics. His writing style is clear and very accessible, even for the newest of newbies.

Selling Ad Space Independently

Once your blog has some good stats going, you can set up some ad spots and sell advertising independently. For an example of an ad page, you can visit Pajama Professional’s Advertising Page. You will want to include the following statistical information for prospective advertisers:

• Alexa ranking
• Technorati authority and ranking
• Google Pagerank
• RSS Subscriber count
• Traffic (daily, monthly, visits, page views)
• Other interesting statistics

The advertising information page should also include details about the ad spots you have available and the rates. You may want to offer specials to new advertisers or advertisers who buy ad blocks over a certain period of time. Many blogs only offer 30 day periods, but I read an article recently challenging this idea (Selling Ads for One Month on your Blog is Stupid) and decided that it was absolutely correct. Your ad terms are entirely up to you, testing is really the only way to know what will work best.

Paid Posting

Another monetization option is to write paid posts for sites like PayPerPost and Smorty. Google is not a fan of paid posts, so there is a bit of a catch 22 here. You see, in order to get high-paying post opportunities you need a decent pagerank. However, if Google sees that you are posting paid reviews, they will smack your pagerank down. So what do you do? Pay-Per-Post is establishing their own system called RealRank in response to Google’s anti-paid linking policy.

If you are just starting your blog, I would recommend laying off on using paid posting for a bit. Blogs younger than three months rarely have very high-paying opportunities anyway, so I suggest biding your time until all the pagerank slapping settles down. Once you have been live for 90 days or so then you might see where the dust has settled.

Making money with your blog is not the overnight magic pill many people will have you believe. Most of the people who try to convince you that it is are just trying to sell you a product or service that promises overnight riches. Do not believe it.

In order to make money from your blog, you need traffic. It takes time to build traffic so you must work hard to create quality content and continue patiently marketing your site. Do not be discouraged if you don’t make even a penny for several months. Establishing your authority and expertise takes time, but it will happen.

This brings to a close my seven step method for choosing a niche. Please use the comments to ask any questions you may have regarding anything I have covered so far on this blog.

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