At some point in time, once you have established a Decent Level of traffic, you will need to sit down and decide on how you will derive Revenue from your site. Depending on how your blog is oriented and positioned, you may be able to use one or more methods of revenue generation. Whichever method you choose, remember that your monetization strategy is about developing different revenue streams and sources of income. This will protect you from the risk of any single income source drying up and leaving you with no backup plan.


Consulting and speaking engagements


A consulting strategy means that you are primarily seeking consulting work and the blog is both an information and marketing channel to attract new clients. This kind of approach is specially suited if you are running a subject specific, profession oriented blog like say, on architecture.


The primary aim of your blog then, is to show case both your knowledge in the subject area as well as allow your audience to interact with you. Your blog will provide useful, authoritative information to your readers and anyone searching the web for related information. Additionally, it will also provide you with a platform create a reputation for your professionalism, express your opinions on matters of interest to your audience and also, to get new clients.


You may also decide that advertising may not be the best option for your blog. This approach is rare but not unheard of and is usually applicable when you already have a successful offline business and want to enlarge your reach through the web. In most cases however, the approach is to combine consulting and advertising in a judicious mix that will reinforce and capitalize on each other's strengths. Additionally, by virtue of the popularity of your blogs you could also position yourself as an expert speaker on the subject for conferences and similar events.


Advertising


Advertising is by far the most lucrative option and the most popular choice. Given the wide range of advertising options, it would indeed be difficult to miss making money from your blog if you have a decent level of traffic. In fact, advertising revenue can itself be categorized into multiple revenue streams and channels. The difficulty then is not in deciding whether advertising will work but on deciding which advertising channels are best suited to your blog.


This is largely a trial and error method and you need to keep refining your channel mix to get the maximum possible revenue out of your site. (Note: Some of the advertising networks mentioned in this section may require you to have your own domain name and also may require you to have a minimum number of visitors or page views per month).