I think it is a matter of trying an idea to see what works for you and if it does not work then try something else. In my experience adsense only really works if you get huge amounts of traffic to your blog so I have not even included it in the list of ways to monetize your blog.
It is probably the same for advertising banners - they may bring you some small income but is it enough for the fact that you are bombarding your audience with ads. that most people ignore, (They even have a name for it - Banner Blindness) that take them off your site? What are you blogging for is a big question in my books and for me it boils down to helping people and connecting with people and I don't think banner ads do either of those things.
So here are some monetization strategies to explore:
2. Create an online course
3. Write a book
4. Create an online summit
5. Create a membership site
6. Create a Resource page on your blog
7. Get sponsors
8. Crowd Funding
9. A PayPal Donate Button
10. Become a ghost writer or a freelance writer.
11. Be an affiliate.
12. Pay for a course and follow the advice.
1. Coaching: Yaro Starak is one of my mentors and he believes that the quickest way that everyone can make money is to be a coach. You can coach through emails, skype or phone.
RESOURCES: Clarity is a site that allows you to become an expert, talk to your clients online, have a promo on their website and get a widget for your blog.
2. Create an online course: Finding out what your readers want is crucial to be able to sell an online course. One thing I have found extremely useful is to survey your current readers. You can do this in an informal way, in your comments, in your emails, on your social media or in a more formal way using a tool like SurveyMonkey. I recommend them as I love free tools and I also love the way they analyze your surveys with graphs and it is very clear to see your results and then get ideas. If you want to create a course or book and you are not sure the topic, do a survey, see that 50 people want the course on teaching your child to be potty trained (if you are in the parenting niche) and only 10 wanted the course on fussy eaters then you know which course to create.
RESOURCES: Teachable helps you create and sell online courses.
3. Write a book.
The easiest book to create is an ebook because you have everything you need already to do so - a computer that allows you to turn a document into a PDF.
RESOURCES: Self Publishing on Amazon made easy by Christopher Fielden
4. Create an online summit. These can be podcasts or videos from experts in a field around a specific topic. They are usually a series which starts out for free and then turns into an optin payment to get access to all the videos.
To truly succeed at a virtual summit launch, you need to make it a win/win for the experts who will share their knowledge.5. Create a membership site. This relies on having a lot of information and resources that your readers want from you. The key is having something that people will not be able to find easily elsewhere for free or that they want to hear from you and how you do things.
6. Create a Resource page on your blog. A page where you recommend things that you love and that you have affiliate links to. This should relate to your niche. Here is an example.
7. Get sponsors. In the past sponsors have approached me and they all seemed to want the same thing - my unique visitors, where my visitors are, my social media numbers and my email list numbers. (they obviously do their research) So if you are thinking of looking for sponsors I would suggest to get your numbers up in these areas. This can be hard work.
8. Crowd Funding: Go Fund Me or a similar site. This works for some people if they have a project in mind and explain it well people may give you money. The site takes a small percentage of the funds you raise. Seth Godin, Marketing writer, has funded some of his books this way, very quickly.
9. A PayPal Donate Button. This relies o the generosity of your readers. But if you don't try, you won't know. By offering them something they may donate eg a checklist. You need a PayPal Business account and PayPal show you here how to add the button and customize it.
10. Become a ghost writer or a freelance writer. This is not really making money from your blog but using your blog, as part of your bio, to display your writing skills. There are many blogs and websites looking for writers. One place you can get work is Up work or Fiverr both of which are very reliable and have been around for ages. You can also see jobs at Pro Bloggers Job Board. Be sure to read their Tips For Applying Safely Online.
11. Be an affiliate. This in it's most basic form recommending products. Hopefully products that you like and really want to recommend. If someone clicks your link to the product and buys, you earn a commission. You could start with Amazon, which pays a very small percentage or look on sites like ShareASale or ClickBank for specific products in your niche, that offer higher reimbursements. you need to find a product you like then drive traffic to it. The good thing about affiliate marketing is that you do not have to fulfil the orders or dael with the returns.
12. Pay for a course and follow the advice. Choose an expert that suits you and follow their advice to the letter. Following is a small list of people who I recommend because I've followed them for years, read their posts and income reports and done some of their courses. Also they are all in the top 50 bloggers earning money online so they don't just talk about making money - they do it.
David Risley's Academy Lab Membership is $39.00 a month. David teaches how to make a business around your blog, and has been blogging for around 19 years. I have done many of his courses, years ago when he didn't have The Lab (Which is what I would do if I was starting out now), and he is extremely thorough in explaining everything. One thing though he may expect you to change the niche you are in
Yaro Starak can help you set up a profitable. He has a few courses and you can get to know him on his free webinar here How To Launch Your Online Platform, Grow Your Email List Without Buying Ads, And Turn Your Knowledge Into A Real Business.
Melyssa Griffin, teaches how to create courses and use an email funnel to sell them, as well as using Pinterest to get traffic.
Of course whatever route you choose to make money with your blog you must then promote, promote promote what you are doing.
I hope this list has got you thinking of what you can do on your blog.
Please remember that the biggest thing you can do to make money is to start trying something today.
Good Luck and I would love to hear what works for you or what you are thinking of trying to make money with your blog.