No matter how you monetize your blog, you need three essential pieces in place— or at least to set as your goal.
Wikipedia defines a niche as:
A niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that it is intended to impact.
The key is to find that specialty and grow your audience and readers around it. But be careful: there is a danger in being too niche.
Here’s an example. Let’s say you love this critter called the Naked Mole Rat. You cannot get enough facts about how he lives, his habits and, well, just how darned cute he is.
So you start to blog about the little bugger. In fact, you are thinking of monetizing this interest of yours. So you start offering mugs, t-shirts and even posters with clever thoughts about this creature. Maybe you even search Amazon for naked mole rat pets that you can resell.
But sadly, in the end, you realize that there aren’t that many people who are as passionate as you are about the naked mole rat.
You find out that there was probably a good reason no one else was doing this.
Back to the point about your niche. Between your site being way too general, or too focused, can be a gray area. In fact, here on BobWP we talk about a lot, but it works for us. What you really need to find that sweet spot for your own needs and your readers.
Community and Fans
You need to build this up on your blog. Find and nurture the readers who will rave about your posts and share your content. You know, the ones who trust your opinion and use you as a resource.
For any new blog, you need to start building a community of fans. It’s how a blog succeeds.
There are some monetization strategies that require you to have your community in place before you even begin. If you don’t, you are setting yourself up for a lot of headaches—and, eventually, failure.
Just about any form of monetization will not be successful without a good amount of traffic coming to your site. Of course, there are some models that require much heavier traffic. Getting that traffic is a lot of work and takes time.
Growing your traffic can be accomplished through social media, creating good content, paying for advertising, and several other strategies. In the end, it all depends on your goals, your needs and the variables involved in monetizing your blog.
An audio option for this post.