Today I want to discuss with you one very important topic that will come across in absolutely every single person’s mind that is thinking of making money as a blogger. The question is – “how to monetize a blog (in 2024)?”
You may be thinking that I added the “2024” year into the title just for clickbait, but that’s not the case, not at all. Despite people asking this very same question all the time, blog monetization does really differ from year to year.
Some years see only minor changes in money-making strategies, while other years experience a giant leap. Do you know why this happens? Well, it’s simple actually, the world and the internet never stand still. New laws, technologies, Google updates, the economy, the pandemic and so many other factors play a role in how one can monetize their blog effectively.
So, have you already figured out why 2024 could be different from 2019? Hint – Coronavirus (COVID-19)!!! Well, it did start in 2019, but the global pandemic hit us only in 2020 and 2021. Today in 2024 we reap what the pandemic has sown over the years.
How to monetize the blog – the pandemic
The pandemic has been evaluated very differently by different people. Some say the virus existed, while others say that it never did. Some say it came from bats, some say it came from a laboratory. Some even go as far as to say that it was made to control our minds. How? Not sure. But hey, I am not judging nor do I really care.
The point here is that because the world went a little upside down and forced many of us to spend more time at home in isolation, we’ve become more used to doing things online. The two main things that people did/do a lot of were/are – shopping and learning.
I believe that even if there will never be a global pandemic again, it already has changed our world forever. We have finally realized how convenient it is to shop and learn online. Heck, even my parents that never bought anything online started to do so!
Tips on how to monetize a blog and how not to
So now you probably have a clue of how to monetize a blog in 2024 and onwards. Let’s dive deeper.
What to do!
1. Physical products
The first on my list of how to monetize the blog in 2024 comes the sale of physical products.
As I already mentioned, people bought A LOT of physical products online while in quarantine. However, even after the quarantine has ended in some countries, people continue to buy online rather than go to physical stores. As an example, this is the case in China, according to the World Economic Forum website.
So if you haven’t yet started a blog, think of a physical product that you would like to sell in the future. After you have figured that out, you can build your whole blog around that product. So if you are planning on selling gardening tools, then start writing about everything related to gardening and gardens.
2. Private coaching
The second thing that you needed to keep in mind is that more and more people started learning online. Most of the time it’s cheaper and it’s quicker. But that doesn’t concern only kids going to school. It concerns adults as well.
Foreign languages, musical instruments, graphic design, programming, life coaching, business coaching, and so-so many other things can be taught online. Just like in the previous step, figure out what you are good at and make a blog around that. Then, when the traffic comes pouring in, you already know what you are going to coach to people.
3. Group coaching & masterminds
Group coaching and masterminds are similar to one-on-one coaching, except you get to make more money in a shorter period of time since there are more people present during a single lesson.
According to Forbes: “E-Learning is the future. Market research firm Global Industry Analysts projected “E-Learning” would reach $107 Billion in 2015 and it did. Now, Research and Markets forecasts show triple the revenue of 2015 – e-learning will grow to $325 Billion by 2025.”
Guess what, private coaching, group coaching, online courses and mastermind groups all belong to e-learning, which is pretty darn good news for people that blog and know their subject well!
And by the way, that Forbes article was written in 2018, which is before the pandemic and therefore before people were really into online education. I am not a rocket scientist, but something tells me that those numbers are going to be even higher in 2025 than Forbes has predicted.
4. Digital Products
Digital products come either in the form of some kind of software or online courses. In my case, I am really excited about the online course part since I am in the process of making one myself.
It’s incredible that you can take a passion of yours, something that you know a lot about and have experience with, then put it into a digital format and sell it to the world. Moreover, the best part is that you do the teaching only once and keep selling your digital course over and over. I am truly grateful that this opportunity exists today.
So, just like with the previous two tips, this one is about selling knowledge online, which is becoming more and more valued in the world. My goal isn’t to tell you what to go for, but I do want you to know about all the different ways how to monetize a blog in 2024 and onwards.
5. Affiliate marketing
Affiliate marketing… it’s hated by those that aren’t able to make money with it, and loved by those that do make a ton.
By the way, if you don’t know what affiliate marketing is, then I highly suggest that you read my other two posts on it:
- What Is Affiliate Marketing & How to Use It to Make Money Online
- 5 Benefits of Affiliate Marketing for Bloggers
- How I Made 6,5k in Two Weeks as an Affiliate (+Mistakes)
In a nutshell, affiliate marketing is when you promote other people’s products and get a commission every time someone purchases that product through your affiliate link. The product can be physical, or it can also be digital.
To move forward, many people think that affiliate marketing is not as effective as it used to be when it was first introduced to the digital world. After having made like three bucks in two years with it, I had the same opinion, too.
However, my mistake was that all that time I was promoting mediocre products. Many online “gurus” out there teach you to promote products ranging in price from $10 to $150. Of course, sad products never made me any sales like that.
It all changed when I started to promote products that:
- Cost $1000 – $2000
- Have a commission of 40%-50%
- I have personally bought
- I found to be of high value and very high quality
Once I started to promote products that I have tried and/or believe in, I began to make money. People really can see and feel when you are promoting something that you genuinely care about.
Click To TweetIntegrity is telling myself the truth. And honesty is telling the truth to other people. – Spencer Johnson
The conclusion to affiliate marketing is that I, too, believe that it’s not as effective as it was five years ago. But that’s only if you are trying to promote car parts, blenders, rice cookers, e-books, etc.
Most people now know what affiliate marketing is and simply do not fall for these kinds of products. It’s mostly due to phony affiliate marketers that promoted over the years all kinds of junk just to make a few bucks. This led to people losing trust in bloggers and their promotions.
On the other hand, if your affiliate marketing is coming from an authentic place, it’s totally doable in 2024.
What NOT to do!
This part of the “how to monetize the blog in 2024” list is very straightforward.
6. No Google ads
You’ve probably heard of Google AdSense. If not, it’s those “sophisticated” ads that you see recommended to you based on your interests when you visit certain websites.
Recommended: 10 Things You Must Know Before Starting a Blog in 2020
First of all, even before the pandemic it was hard to make a lot of money through ads. As long as you don’t have hundreds of thousands of monthly visitors coming to your blog, there isn’t much to be made. That’s why you don’t even the big blogs making use of Google AdSense.
Secondly, ad banners make your blog look ugly.
Finally, the reason why today you shouldn’t be using ads is because people are simply tired of them! And on the contrary, social media like Instagram and Facebook are bombarding with ads more than ever these days.
But you don’t need to do it, it’s not worth it. You will lose more followers than you gain.
7. No banner ads from other websites
This one is similar to the previous tip, except here you would be asked by some other blog/company to place their ad somewhere on your blog, usually in the form of a banner. It won’t make you rich, but will make your blog look dirty.
8. No sponsored posts
I daily get requests to publish a sponsored post on my blog. People offer like $10-$20 at most for it. Really? Is it really worth it? Of course not! Besides, often the posts promote products and services that seem shady, like casinos or erotics… I guess you wouldn’t want that on your blog.
The internet has been around for long enough now for most people to understand how paid promotions work. Having paid posts on your website is similar to doing junk affiliate marketing promotions.
On the other hand, you can always accept free quality guest posts based on your set of rules. This can help your blog grow faster. I sometimes accept them as well based on the guidelines that I have personally created. You can see them here.
9. Don’t sell your content
Finally, the last but not least tip on the “how to monetize a blog in 2024” list comes exclusive content that you need to pay for. So what do I mean by this?
Well, some blogs like to make money by having free content and content that is sold, which at the end of the day, isn’t much different from one another.
To be honest, I haven’t heard this work with blogs, let alone in the year 2024 when so many blogs have 100% free content.
The only way I see someone getting away with this business model is if you are a reputable news source that has been around for tens of years (i.e. Washington Post, New York Times, The Guardian).
So if you want to sell your content, rather make an online course and sell that. Otherwise, I would suggest you keep your blog content free for all.
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This was it for this blog post, I hope you found it useful! If you have any questions or comments for me, feel free to leave them down below in the comment section.
Thank you for stopping by and good luck!
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