If you’ve decided to monetize your blog, then the next thing you need to think about is how you plan to maximize your profits. Regardless as to whether your blog is a side-hustle or you are using it as your full-time income, you want to know that you are getting your money’s worth for your services. So here are four ways that you can increase the profit you make from your blog.
Keep your expenses low
The profit you make from blogging can be calculated by subtracting your expenses from your gross income, which means that by reducing your blogging expenses, you can increase your overall profit margin. Start by sitting down and calculating the total monthly expenses for your blog including things like hosting fees and wifi-usage, and then look at ways to cut back your costs. If you host on a VPS then try to find the cheapest VPS that you can, similarly look at changing your wifi-provider if you can find someone offering a better deal.
Put up your prices
The blogging community is quite tight-lipped about how much they charge for certain services, but if you do some research you should be able to find yourself some benchmark figures. The thing with blogging is that fees can vary so much depending on the profile of your site, your social following, your domain authority, your monthly visitors, and your level of experience, which makes it difficult to put a set figure on how much you should charge for certain services. Whatever figure you decide to proceed with, be sure to re-evaluate it on a regular basis to ensure that it grows with your site and inflation.
Remember that your time is money
If you’re running your blog as a business, then you need to remember that all the time you spend on it is essentially potential money. Make sure that you make the best use of your time by creating a blogging schedule to keep you motivatedand organized and to ensure that every post you put out is working towards earning you money in one way or another. If you’re finding yourself spending a lot of time on your blog for non-monetized activities, then look at how you can streamline these tasks so that you can make better use of your time.
Create multiple income streams
Last but not least, don’t put all your eggs in one basket or rely too heavily on any one income stream. The good thing about blogging is that there are many ways to make money, including affiliate schemes, advertisements, sponsored content, and sales through your website. To maximize your profits, try to use a combination of monetization strategies that complement each other and will provide you with a regular income even if one stream dries up.
So there you have it. These are just four of the ways that you can increase the profit you make from your blog, but remember, making a profit from blogging doesn’t happen overnight, and consistency is key to long-term success.