Monday’s Twitter chat discussion was an Introduction to Monetization. We began with two disclaimers: 1) monetization is a complicated topic that can only be touched upon (rather than fully covered) in one hour on Twitter and 2) you don’t have to monetize your blog. Some people just blog for fun, and that is okay! We completely support that. Realize that if you do want to monetize, you’ll need to do some research to figure out the avenues that are right for you. Crafterminds recommends diversifying the sources of your income so that you aren’t depending on any one thing to provide you with a revenue stream. You should also proceed cautiously and make sure to read everything (such as contracts) carefully. Here are some key points from the chat:
- There are only a handful of large bloggers that make great money. The Crafterminds girls don’t make close to a full-time salary, but we do make enough for extra spending money! Monetization can be a great option for your blog – just keep your expectations reasonable.
- There is no magic number of followers to indicate when you should monetize your blog. It’s all up to you – you might be smaller with a loyal following; you don’t have to be a huge blogger to start thinking about making money.
- Compensation can also include free product. Consider blogging about your favorite craft supplies for free or a reduced rate in exchange for the product – that product has a monetary value.
- Disclosures are legally required for paid posts. A good service for disclosures is http://cmp.ly.
- Ad networks – you typically get paid a price per thousand views (called CPM). Getting into an ad network is difficult, but Google AdSense and Project Wonderful are open and easy to integrate into your blog.
- Sponsored ads – allowing sponsors to purchase ad space on your site directly may be a good option for you, and it eliminates the ad network middleman. Keep in mind that getting sponsored ads requires some selling on your part as well as client management.
- Paid/sponsored posts – these are individual blog posts that you get compensated a set amount for. Good places for finding paid post opportunities are Clever Girls Collective and SocialSpark.
- Affiliate networks – you get paid for product purchases through your blog. Options include ejunkies, Commission Junction, Amazon Affiliates, PepperJam, ShareASale and Google Affiliates.
Thanks to all those who attended!
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- Sunday Afternoon Housewife » Blog Archive » Twitter Parties, Twitter Stats, and TweetChat for Crafters - [...] place each Monday at 4pm EST and is hosted by a rotating group of the 4 ladies behind Crafterminds. ...