As a blogger, monetizing your blog is one of the best decisions you can make. Blog monetization helps you to transform your blog from being an information center alone to a revenue stream. However, this decision is not easy. Before taking the step, you need to spell out your strategy. With a reliable strategy, it will be easier for you to realize your objectives. Failure to have one leads to confusion. At times, a poor strategy can lead to the loss of profitable opportunities. Or else, it can hurt your online reputation. Answering several questions is the best decision-making process. If you’re planning to monetize your blog, here are 3 questions you need to answer before implementing your plan:
What is the current size of your blog traffic?
Your blog traffic is the backbone of your monetization process success. The traffic you are receiving will determine the level of conversions and sales you will drive. You need to assess whether you have consistent traffic or not. In the assessment stage, you need to check all sources of traffic – your organic traffic, social media, email, and other referral sources. Also, you should check your Google Analytics reports for the past few months to determine the state of the blog traffic. If your traffic is not growing, you should establish the areas that are hindering it and fix them accordingly. Otherwise, monetizing your blog will not bear any returns.
Does your blog have loyal subscribers?
A subscriber is a person who follows your content. Whenever you add some content to your blog, they receive the information and peruse through it. When considering your blog monetization, it is essential to pay attention to this aspect. Your subscribers have an interest in your offers. In this essence, they will become the initial customers of your product or what you are promoting. So, before kicking off your monetization journey ensure you have a minimum subscriber. Importantly you need a group of loyal subscribers. Otherwise, your actions will be in vain.
Do you have insightful information on your audience needs and wants?
Well, any blogger exists to satisfy a particular need in their niche. Your blogger meets a certain goal that is crucial to the audience. Before embarking on monetizing your blog, it is important to have insightful information on your audience needs. For instance, if the need of your audience is information, you should not go for an affiliate marketing campaign selling product to them.
So, you should answer these three questions before taking your next step.