Early last month Italked about RSS post level advertising and how it was a solution that is underutilised. Today Bidvertiser has entered the RSS advertising market. At this stage there is not much information about this new service, but I’m very much looking forward to trying it out on my site.
There is a downside to their new service, the downside is that you need to promote a new RSS feed to your readers for them to see it. Major downside from my point of view!
This is a question that most bloggers ask when they are thinking about selling their blogs. How do you answer this question? Should you base your sites value on your pageviews per month, monthly earnings, subscriber numbers or a combination. These are question that no one can really answer but at the present there are so many websites on the net that can help you guesstimate. Even though none of them are normally close to the real value of your site!
Where should I head to check out these tools?
Pure Blogging = $7656
Crenk = $1,437
Business-Opportunities.biz - Inspired by Tristan Louis’s research into the value of each link to Weblogs Inc, Dane created this little applet using Technorati’s API which computes and displays your blog’s worth using the same link to dollar ratio as the AOL-Weblogs Inc deal.
Pure Blogging = $210,573.42
Crenk = $80,729.22
DNScoop - This site is similar to SmartPageRank but it provides you with some additional information about your domain and then provides the value at the bottom. DNScoop also have a very similar feel to the old Alexa website.
Pure Blogging = $6180
Crenk = $4429
Overall, PureBlogging is doing quite a lot better than my own site Crenk, but how is it doing against yours?
Would you like make way more money from your blog than with AdSense? I think most of us would. By becoming a consultant, you can make good money from services you provide made possible by your blog’s content and reputation. The oldest and most tried-and-true method for making money is to sell something directly to a buyer. One of the great things about the internet is that we can sell consulting services to anyone, anywhere.
Before I get into the details about consulting, let’s dissect the ad revenue model for blogging. There are basically two ways to go about this: automation and personal sales. Contextual and keyword/category ad publishing systems like Google AdSense or AuctionAds are super easy to implement, but unless you have high traffic and you’re targeting high-paying keywords, there’s a fairly low ceiling to this for most of us. There are always exceptions and some people will be unethical in their use of automated advertising, but for the most part, without gobs of traffic you’re not going to get too far.
Personal sales can be a much better way to go. You approach (and allow yourself to be approached by) advertisers for direct sales of ad space on your blog. You can use a system like OpenAds for this or work it manually. This takes more time and work and dealing with rejection, but it gives you a shot at much better money.
In both cases, there is still a limit based on your traffic eventually leveling off. When this happens, the reaction of most bloggers is to do things that worsen the problem, like put more ads up, which detracts from the user experience and hastens the downward spiral. Sure, it’s possible that this won’t happen to you, but it sure happens to a lot of people, doesn’t it?
In the consulting model, what you sell is your time, usually by the hour. Really, what you’re selling is you: your skills, experience, and talents. And in a way, that’s what you’re doing already on your blog, isn’t it? You are already providing value to people. In consulting, what you do is take what you know and use your skills and time to directly help others for pay.
The normal cause-and-effect routine is that a consulting business exists first, and then it adds a blog to its site or converts its site into a blog. But there is no reason why the opposite can’t happen. Instead of the dog wagging its tail, the tail wags the dog! If you have established yourself as a passionate expert in a field through blogging, helping people in that field for pay is a natural extension of that. This happens more often than you might think. I have done it, and so have other bloggers like Skellie of Skelliewag.
Consulting is a business, and to succeed at it you have to treat it like a business. You spend time doing work for other people who hire you. There is paperwork like tax forms and (sometimes) contracts. You have to deliver results that your clients are happy with so they pay you and recommend others to you.
Ah, yes. You get paid! You can get paid more from consulting for just a few hours than you made all last month with advertising. But there is always work: asking for recommendations, referrals, and testimonials. Negotiating fees. Dealing with the occasional difficult client. Thinking ahead to where you’re going to take the business next.
You can be as expert as you like in anything, but if you can’t deal with people, handle expectations, complete deliverables on time, nail down requirements correctly in the first place, and diplomatically handle differences of opinion between your clients and you, then consider carefully if consulting is right for you. I wasn’t great at all of these things when I first started–and I’m still not where I’d like to be with all of them. Each client and project is a series of lessons learned and triumphs earned. It’s very rewarding and very humbling.
Remember: you’re now wagging the dog. You had a blog that perhaps was monetized via advertising, now you have a business that happens to have a blog. You’ve got to make that switch in your head and in your heart.
Chances are, if you’ve run a blog for any length of time and have raised it up to a respectable level, that you are already seen as an expert. You may have already been approached by people out of the blue, even though you don’t advertise any such thing. If this has happened to you, that’s a good sign. If you have helped people, and the experience and the outcome was positive, that’s also a good sign.
A Few Points to consider:
I know this is a long post, but I hope you’ve found it worth your time and attention, and that I’ve given you something valuable. Let me sum up the major points:
I’m betting this has been on the minds of many of you. Some of you may already be consultants. Questions, thoughts, and suggestions are welcome from everyone in the comments.
An underutilized revenue stream in most blogs, the post level advertising solution is slowly coming into the mainstream. If you dont know what a post level ad is then you should really start to open your eyes and join the living. Post level ads are found embedded at the bottom of each post in RSS feeds.
These ads have long been on some of the most popular blogs around the net, such as John Chow and John Cow, but it still hasnt become main practice amongst lower level bloggers.
When monetizing a blog you always look for new revenue streams that are instantly going to increase your eCPM. Post level ads can do this quite quickly when they should be getting sold for a very small fee per post and when you can also fit upto 5 or so ads on one post. If you want to use more than 5 ads per post the bottom of each post just starts to look too busy and then the click thru rate will drop rapidly.
Post Level Ad Networks
Google AdSense For Feeds - Beta, CPC
Yahoo! Publisher Network - CPC
Kanoodle for Feeds - CPC
Pheedo - CPC
Text Link Ads Feedvertising - Flat Rate
FeedBurner Ads For Feeds - By Invitation, CPM
FeedShow - Revenue Share Using Google Adsense, CPC
Q-Ads For Feeds - CPC
ThankYouPages - CPM, CPC
PART TWO: COMPONENTS OF A SALES PAGE
Note: As bloggers, we often branch out into other forms of advertising in order to monetize our VRE (virtual real estate). The Pajama Professional Sales Page Series was written by Sara Christensen in an attempt to help facilitate this often natural extension of blogging. After you finish the article, you can follow the links to parts one and three of the series.
In the last installment of the Pajama Professional Sales Page Series, I discussed the questions you should ask yourself before you begin writing your ad copy. In this part of the series, I will outline some of the rules I will follow as I create my ad:
Start by writing the offer. Many copywriters will tell you to start with the headline and I’m not going to tell you that’s the wrong way to go. From my background in journalism, however, I know that if I write my copy first I’ll be better able to write a fitting headline. In my copy, I will include the answers to some of the product questions I asked in the last installment of the Sales Copy Series.
First, however, it is important to always keep in mind that people buy based on emotion. They justify with logic later on, but you must compel your visitors to purchase by targeting certain triggers. Here are the five primary triggers on which you should focus as you craft your letter:
The triggers are basic, but they are key to converting prospects into paying customers. you don’t need to use all of them in one sales page or address them directly. Just remember that you can list numbers all day long, but you won’t really start moving product until you make people feel. There are, of course, certain facts that cannot be overlooked in a sales letter; things like price, cost, etc. must be included.
One of the most important things to remember is: don’t save the best for last. If you start out listing minor features, you’re going to lose many sales. Start with the key deal-maker and work your way down. Your copy can be as long as you need it to be, but if you save your best feature for the grand finale, you can bet that very few people will sit through the entire show. Hook them with the headline and hold them there from the very start with your hottest points.
For instance, if I’m writing an ad for an iPod, I’m not going to say:
Choose from black or white!
Free ear buds included!
Pretty cases sold separately for easy customization!
Small enough to take on a jog!
Super-clear video screen makes it easy to create playlists and watch movies!
AND…
Put your entire CD collection in one place and carry it with you all the time!!!
Frankly, with that copy (I don’t suggest using the word “pretty” either - for any product) I’ve lost the visitor at ear buds. By the time they would have read “video screen,” my potential buyers have downloaded half a movie from a torrent site. If I flip the ad, people will stay tuned to see what’s next. In other words, don’t bury the lead.
After you’ve listed all the killer features, shared the price and let your customers know exactly why your product/service is worth what they are going to pay for it, you need to include three more elements to seal the deal: a time limit, testimonials and bonuses.
Most bloggers rely on Google’s AdSense or Yahoo’s Publisher Network to monetize their blog, but there are various other means that are more profitable, offer you more control over the content on your blog, and are simply more fun! One very lucrative method of monetizing your blog is through accepting paid reviews.
Paid reviews hit the spotlight with the launch of Pay Per Post in June of 2006 and since that time numerous companies have cropped up offering bloggers the ability to easily accept payment from advertisers to write about their products. Pay Per Post is still the leader in this market, but others you should check out include ReviewMe, SponsoredReviews, and LoudLaunch.
These services offer various terms you must abide by - usually consisting of link requirements (a specific number of links, to specific URLs, using specific text) and word counts. These services also have differing rules in regards to disclosure - take it from me and only go for the services that allow you full disclosure and open, 100% honest reviews. You don’t want to abandon your readers for a few extra bucks.
Pay Per Post
Pay Per Post is seen as the fore-father of the paid reviews industry - being the first to launch out of the gates and the most highly trafficked. Being accepted into the Pay Per Post program is a bit more difficult than the other programs as they validate various stats and metrics from your blog. Don’t be disappointed if you don’t make it the first time - Pay Per Post rescans all blogs in the queue once a month and they’ll let you know once you’re able to accept reviews.
ReviewMe
ReviewMe is probably a close second place finisher compared to Pay Per Post and has a much more use friendly interface in my opinion. ReviewMe’s primary function is allowing you to place a widget/link on your blog that will allow advertisers to submit a review request directly to you. Although, ReviewMe does offer an open marketplace where advertisers can submit requests to the entire userbase, I have found this isn’t used very often. You may find it difficult to generate any substantial amount of revenue off of ReviewMe without dedicating yourself to promoting it within your blog.
SponsoredReviews
SponsoredReviews is probably the least recognized of all the programs but it is by far my favorite. They offer the ability for advertisers to purchase a review directly from your site (like ReviewMe does), but their open marketplace is much more widely used than any of the other services. I have found it easy, and lucrative, to find review requests on SponsoredReviews. One benefit is that they don’t lock you into a specific pricing scheme - you determine the price (based on the advertiser’s budget) and it’s up to the advertiser to accept.
LoudLaunch
LoudLaunch has received a lot of press lately - they are very professional in appearance on par with Pay Per Post. Unfortunately, I have little first-hand knowledge of LoudLaunch because their campaigns are generally too spammy for my purposes. In my experience, LoudLaunch will work great if you enjoy writing about timeshares and vacation packages for $15 a review. Definitely, not my cup of tea (nor my niche).
Michael Wales is currently a Senior Airman in the United States Air Force awaiting a June-July promotion to Staff Sergeant. Michael also writes a blog at http://www.betaflow.com/ about Web 2.0 companies and new media.
