Blogging like any business has risks. But is definitely less risky as it involves less investment and more risk management options.
I took blogging as my full-time profession. The first challenge that comes before anyone who takes blogging as a full-time journey is the stable income.
At first when I dived into the sea of pro bloggers, I was anxious; as I had income from only one source that's this blog. As of now, I'm striving hard to make my income stable by diversifying it. By this, if anything fails on me, I'll not be devastated.
When it comes to blogging, having a diverse source of income is good. You should always have an idea of what to do in the worst-case-scenario. You should have a backup plan.
I have seen bloggers, who were devastated when their AdSense account got banned. Why? It's because they monetized all their blogs with AdSense. Many bloggers still think that Google AdSense and displaying ads is the only way to monetize their blogs. That's wrong. There are over 30 ways to monetize your blog. Yes! You heard it right. But the sad thing is that majority of bloggers tend to put their efforts on only one or two monetizing methods.
In this blog post, I'll share with you some ideas, that help you in the process of diversifying your income by opening multiple income generation streams. I've included some of the passive income generation streams. I've presented the methods in the ascending order of the effort that you need to put.
Start a micro-niche blog
A niche blog is something you create around a particular topic of interest. Micro-niche blog is something even more narrower.
Like, if you start a blog on WordPress it's a niche blog. If it's on particular – Genesis WordPress theme customization it's micro niche. Starting micro niche blog is the best way to show your expertise in a particular topic both to Google and audience. There are more chances of you building a loyal audience.
Micro niche blogs rank higher for good keywords quickly. Many think micro-niche blogs need only 4-5 pages of content. Building an authority micro-niche blog for long-term can be a stable income stream, and is recommended.
Monetization methods for your micro niche blog depend upon the content and the audience you are getting. If you are targeting more high CPC keywords and decent U.S traffic, Google AdSense would be the viable option for monetizing your blog.
If there are good products for you to promote in your micro niche, then Amazon associates and affiliate marketing comes to your rescue.
Your micro niche blog demands at least 2 posts a month, depending upon the competition. This fact makes it more or less a passive income generation stream.
With Google favoring authority long-term sites, I suggest you treat your micro-niche site as a long-term authority one.
Start a YouTube channel around a niche
YouTube is the third-most-visited site next to Facebook as per Alexa. Videos have that potential to create a bond with the audience. Choose a particular niche like Tech, or gadgets review, like that.
Research for some potential keywords in your YouTube niche. The keywords should have good traffic. Just Google the keyword, and make sure that top 10 results won't contain a single video result. By this, you can determine the best keyword to create a video upon. Here keyword research is crucial.
Treat your YouTube channel like a blog. Update your channel regularly with fresh videos. include your keywords in the video description, tags, and even subtitles. That's YouTube SEO. Submit for AdSense for YouTube. After approval, ads begin showing up on your videos.
Once your videos get good organic traffic or go viral it is more or less a passive income stream for you.
YouTube marketing and Blogging has a great potential in the coming days. Don't miss it.
Start Amazon affiliate niche sites
Amazon is the leading e-commerce site in the world. Many people are making a lucrative income via Amazon affiliate program alone.
For starting an Amazon niche site, you must first come across a high-selling potential product you want to promote.
Research a product or a category, in which there is low competition on SERPs. In which, you can easily rank.
I would advise you to try out the product before you start your blog. Treat it like an investment. By using the product beforehand, you gain insightful view and knowledge about the product. At the same time, don't forget to read the product reviews on Amazon and other sites.
Share your honest opinions about the product.
Put the Amazon affiliate links in your content. You'll get the commission for every sale that happens via your link.
Concentrate on organic traffic, which has the highest conversion rate. With this, you'll receive passive income as long as your blog posts are ranking in Google.
Start a review blog
If you are passionate about a particular niche, that has great products to promote, start a review blog.
For this, you should first be able to find a niche you are passionate about and has good products for you to promote. The competition should be low. That's the hard thing.
You may need some investment for this. Because you need to try out the product before; to post effective, honest reviews on your blog.
For example, there are many bloggers, who are making great bucks out by starting WordPress theme review sites.
Publish information products
This is one of the easiest ways for generating passive income, without/less investment.
You simply share your valuable knowledge with people in the form of books, papers, CDs, DVDs, and audiobooks. With the prevalence of Kindle publishing platform, you can now easily market your ebooks to a wide range of audience. The process of publishing an ebook on Amazon platform takes less than 5 minutes and gets worldwide exposure within 24-48 hours.
There are many writers, who are making a life out of publishing ebooks on Amazon.
Publish an ebook preferably in the niche you are blogging in. By this, you find it easier in the writing process and promotion.
Many of the leading bloggers and marketers have presented the idea of repackaging your blog content into an e-book and publishing it.
The internet is full of opportunities. The person who is not on line, is missing all those opportunities. As you immerse yourself in blogging and internet marketing, you only will find some of the best ways to earn passive income.