No matter which method you use to Monetize Your WordPress Blog, the one governing factor that will determine your success, is website ranking & traffic!
Put simply, monetizing your website is really a game of averages, put your adverts in front of enough people & sooner or later someone will buy.
Many of the successful blog owners report experiencing a snowball effect as their blogs gained in popularity & their monthly traffic figures started to climb. This effect shows quite clearly that ranking, traffic & monetization all go hand in hand, remove just one of these & your online income will go into free fall.
Top Methods To Monetize Your WordPress Blog
Many successful bloggers literally make a killing as affiliates. There are many advantages to affiliate marketing e.g. higher earning potential, you choose who you promote, graphics for adverts are supplied to you free of charge, you can promote some very well known brands. When starting out with affiliate marketing I would recommend using one of the large reputable companies (Clickbank, One Network, etc) rather than going it alone, at least this way there are less likely to be any problems when issuing your payments.
For sites that have not yet matured & are unable to sell advertising space direct, Adsense is a great way to pull in a few extra bucks in order to help cover hosting costs. You get paid when your users click an ad to go to another website, driven by contextual relevancy, but take care here, any fraudulent clicking is dealt with severely by Google. This is probably the easiest method of monetization, it takes no special requirements to implement & therefore is ideal for beginners & new sites.
Sell ad space directly or as part of an advertising network. Many sites will make considerably more income from direct ad sales than from AdSense, but again this is dependant on monthly traffic figures. If you put yourself in the mind set of an advertiser, you will soon realize that their over riding concern is “how many eyes per buck” & this is where a good Alexa ranking can help you tremendously.
Sell Your Own Products / Services
Selling your own products or services is not an option that is available to everyone, nevertheless it can be a very lucrative way to monetize a website. However, I would have to say that it is also probably the hardest option in terms of work load, for while your not tinkering with your website or blog, you will be producing your products or dealing with advertising. This makes this method of monetization a virtual non starter for most hobby bloggers, however it can work very well for a company that already has an online presence.
Create Value Before Profits
Irrespective of what method of website monetization is used, many will fail because they fill their site with adverts even before they get a loyal following! I would have to say that until such time as your site is receiving in excess of 2000 unique visitors per month, then any focus on advertising is really a waste of time, apart from a little pin money from Adsense of course. By creating value for your readers, without placing much emphasis on early profits, you can create a solid foundation on which to build a very profitable online business. You need to gain link authority & trust from the search engines by creating great original content that others will link to, this will then increase your ranking, your traffic & ultimately your profits.