Where IS all the money at? Lately what’s been on my mind is all the whirlwind of activity within the personal finance blogging world. We’ve got 1) Google threatening more algorithm updates, 2) some big sites losing their PR, and 3) sites being sold off. With all of this hoopla, it makes me wonder if I need to rethink my online income system for making money off my blog.
Going forward, what IS the marketing plan for My Money Design?
Private advertising seems to be barely hanging onto life support. I remember when I first started my site, I used to read about how people were getting paid +$1,000 for selling 125×125 widget ad space. But that was then, and it’s been a pretty long time since I’ve had anyone knocking on my door for deals like that.
So with private advertising on the down low and Google threatening more algorithm changes, what are we bloggers suppose to do for more online income?
Affiliate marketing seems to be a much more legitimate and steady way to produce income. A great example of this would be Jeremy’s page of the best credit card offers where you use your blog to create a separate subpage of products you can get behind and offer your readers. It’s Google friendly; to a degree. But it is so slow. And your success depends a great deal on your traffic, your ability to produce conversions, search engine visibility, etc.
Some people take affiliate sales to the next level with multi-level marketing. An example of this is when you subscribe to someone’s email list and they send you a newsletter for a new book or product. I’ve read a lot of claims that this is a much better and more targeted way to make sales. But I’m totally sure if I’m sold on this method.
I’ve noticed a lot of people reporting success with freelance writing and things along those lines. That kind of work sounds fun and something I’d be interested in doing more of. However, I wouldn’t exactly consider this to be the most passive of my online income system options. You’re payout is a ratio of the time spent on the activity.
What about writing an eBook? I’d still eager to do this, and other bloggers seem to be making some handsome passive income. Glen from Monster Piggy Bank has an eBook releasing on Monday. More on that to come!
Then there’s my niche site effort. When you run the numbers, this one has it all. Low investment, potential high payout, passive income, etc. However, it has not been all easy. I think Google really hates me. My site has been “in the sandbox” ranking at position #300 for a while. AND as you can guess it’s not making any money down there. But I’ve got a few ideas to try to get it back out. I’ll have a niche site post coming up this week.
All of this has me wondering too if I should seek out a business incorporation of my services. The more and more I treat my blog like a business, the more I realize how important it is to protect myself legally.
Readers – Has your private advertising been slow? What do you use for your online income system?
Blogs You Should Check Out:
In case you missed them, here are a few great stories you should check out this weekend:
- Single Moms Income – When Less Is More: Adopting a Minimalist View
- Snark Finance – WHY EXCEL SHOULD BE TAUGHT IN HIGH SCHOOL
- The Free Financial Advisor – Rethink Your To-Do List: Throw Out Your Problem Tasks
- Frugal Rules – What’s Your Definition of Insanity?
- Enemy of Debt – Are You One of the “Financially Fragile” Americans?
- Funancials.biz – Should You Buy Stocks NOW?
- Club Thrifty – So, You’ve Received a Windfall…Now What?
Carnivals & Mentions:
My Money Design was featured on the following sites this week:
- Reach Financial Independence – Carnival of Financial Independence, first edition
- Single Moms Income – Goals, Life Update, & Online Businesses
- Brick by Brick Investing – SnowMageddon – Financial Carnival For Young Adults!
- The Happy Homeowner – Carnival of MoneyPros
- Freeat33 – Carnival Of Retirement – March 11 2013
- The Money Mail – The Money Mail Carnival – 17th Edition
- Reach Financial Independence – Taking a holiday while in debt
- Eyes on the Dollar – Are Graduate Degrees Worth the Money?
- The Savvy Scott – Carnival of Financial Planning
Thanks to everyone for linking to my site and enjoying my posts. I really appreciate your support and hope you continue to visit!
Posts This Week:
- Wealth Creation Strategies That Are Within Your Reach
- Using Blogs to Learn Great Basic Financial Planning Skills
- How to Clear Credit Card Debt By Clawing Your Way Out – Thanks again to Kev from Financial Update for his guest post submission this week. If anyone would like to do a guest post, please feel free to shoot me an email.
Image courtesy eCards.