Would you like to make more than $20,000 a month with a blogging business? We have achieved financial freedom in our early thirties by blogging about personal finance.
Having the freedom to work anywhere in the world and being your own boss sounds like a dream come true, right? Many people love the idea of blogging from the comfort of their own home and earning over 6-figures a year online.
HOW IT ALL STARTED
A few years ago, we set out to achieve the goal of financial freedom. I had developed crippling depression, partly from working for an abusive boss. I was working 80 hours a week as a physicist, but barely making ends meet. We were just accumulating more and more debt. I knew something had to change!
We started trading stocks online as a way to make extra money. We signed up for many different stock trading educational services that helped us learn how to trade profitably. We were even able to pay off our student loans with the extra money we made from stock trading.
However, stock trading is an extremely stressful way to make money. We started a blog to talk about our experience with stocks. We started to sell stock trading educational products on our blog and make a few hundred dollars a month on the side.
We also started working on freelance businesses (like proofreading online) and even real-estate investing. We made quite a bit of money doing these side hustles, but we decided that we were most passionate about blogging. We started our blogging career as a part-time side hustle and transitioned to full-time a couple of years ago.
Over the next few years, we were able to grow our blogging business to over $20,000 per month. The goal of this article is to give you some insight into our relatively unusual blogging strategy.
WHY WE FELL IN LOVE WITH BLOGGING
Blogging is one of the best businesses that you can start. Here are some of the advantages of starting a blogging business:
- The cost of starting a blog is extremely low (less than $100)
- The earning potential is unlimited
- You can work from anywhere in the world
- Spend more time with your family and be your own boss
- Blogging can make an impact and help other people
- Potential for passive income
Blogging is the ideal business! However, it is not a get rich quick scheme. You have to be passionate about what you are writing about and put in many months or even years of hard work before you will earn a significant income from your blog.
HOW DO WE MAKE $20,000 A MONTH FROM OUR BLOGGING BUSINESS?
Many people believe that you need to have millions of visitors a month to your blog to make a significant income. But we have less than 50,000 visitors a month to our blogs and still make a great income!
Our blogging strategy is a bit unusual because we don’t use some of the popular blogging tactics, for example:
- We don’t have an email list
- We barely have any blog subscribers
- We don’t sell our own products
So, if you are interested in learning our secrets to earning $20,000 a month from our blogging business then read on!
Affiliate marketing to make money blogging
The first part of our strategy is that we rely on affiliate marketing to generate the majority of our blogging revenue.
When a visitor comes to our website and clicks on a unique tracking link to a product or service, we receive a commission if they purchase anything. We are affiliates for many different companies, but we focus on products that we have had experience with and that we really think will add value to our readers.
Affiliate marketing is WAY more lucrative than other monetization strategies like putting display ads on your site. We focus on selling high-cost services that cost anywhere from $300 to $10,000. You can imagine how quickly our commissions add up when we receive 50% of every sale that is made through our sites!
Selling high-cost products to make $20,000 a month blogging
Many bloggers are intimidated by the idea of selling an expensive product to their audience. This might seem like a difficult thing to do, but if the product offers amazing value, people will invest in it. Selling an expensive product is almost as easy as selling a low-cost one! So why work for $10 per sale when you could make $1000 per sale!?
That being said, we had to overcome the mental hurdles that people would actually spend thousands of dollars based on our recommendation. The thing to remember is that even if you are not inclined to spend $1000 on a stock alerts service, there are many people that are! This is especially true for products that will help the customer to make more money or learn a valuable new skill.
WHAT WE CONSIDER WHEN CHOOSING AN EXPENSIVE PRODUCT TO PROMOTE
It is so important when choosing a product to promote that it has a GREAT sales funnel. Selling expensive products online is much easier if the company that you are selling for has a very high-quality funnel.
This is so important because people are unlikely to spend large amounts of money if they are not familiar with the company. The level of trust that has to be built is quite high before they will part with large amounts of money.
A high-quality sales funnel provides a ‘courting’ like process with a potential customer. For example, a funnel starts by offering a high-value freebie to show that the company is legit and helpful. This usually involves the potential customer submitting an email address to get access to the freebie.
The company then follows up with an email marketing sequence that offers attractive discounts, more information and builds a relationship with the potential customer.
We have found it best to let the company that owns the product do this part! They have all the expertise and resources to do the heavy lifting. This reduces our workload and massively increases the products conversion rate.
We actually consider the quality of the sales funnel when selecting a product to promote. We also look at some other criteria:
- The first thing that we consider is if the product is ‘life-changing’ for the customer. We only want to promote amazing products.
- We want large commissions so the product must sell for more than a few hundred dollars and pay a commission rate of 30% or more. Ideally, we would like to earn $500 or more per sale.
- We look for companies that will ‘upsell’ other great products to customers. This will often increase how much we earn per customer that we refer.
- A free webinar or masterclass often get customers interested in the products.
We usually invest in the product before we promote it to our audience. This is a good investment because we can genuinely review and discuss the product. We want to be 100% sure that the product is high quality and will actually help our audience with their goal of making more money.
Other considerations include:
- Popularity and longevity
- Do we trust the company?
We want to partner with companies that have popular products that are well-established. We put in a lot of effort and money when promoting these expensive products, so we can’t afford a company to go bankrupt or just stop paying us.
Our core strategy for promoting high ticket products
Writing product reviews is one of the best ways to sell higher priced products. There are two reasons for this:
- Product reviews are extremely helpful with helping people make up their mind about a product. We try to offer them an exclusive discount (often possible if you ask the company!) to help them to make the purchase. People that spend $5000 on a course will usually do extensive due diligence before purchasing and a big part of that is reading helpful reviews.
- Reviews offer social proof. If the review is positive, it can help the reader to make the decision to purchase.
- Reviews often rank well in Google which is the highest quality traffic. The reason is that people who find your page from Google search are usually serious buyers or ‘warm leads’. This means that the conversion rate is much higher for these visitors.
Here is a real example of what we do to sell high priced products
We attempt to provide real value and insight into the products that we are recommending. An example of an educational course and service that we promote.
Here is a review post (Kyle Dennis FDA Insider Alerts Review) that we make a lot of money from. It is a post about an expensive ($2,997) stock alerts and educational service run by a millionaire stock trader called Kyle Dennis. We earn 40% commission on every sale and it is an amazing stock alerts service!
We have included a lot of valuable information, including examples of stock trades we made on Kyle’s advice. We show real evidence that the service is high quality and discuss it in detail. We try to provide as many links as possible to helpful resources, especially at the start of the article. If the visitor signs up for the free webinar and later purchases one of Kyle’s services – we get paid the commission! It is a win-win for the customer and for us.
We also have an aggressive exit popup that entices people to signup for a related free webinar that is another affiliate link for us. Many bloggers do not recommend this, but we have found it to massively increase our conversion rate.
Website traffic sources that convert well
We regularly test different social media sites to see which source performs the best for our different affiliate products. We have found that:
- Twitter works really well for stock trading services but does not work for much else!
- Pinterest traffic converts very well for freelance business courses but not for stock trading courses.
- Google traffic performs better than all social media for all products.
It makes a big difference in how much money you can make if you can just get your site seen by your ideal audience. When you have the ideal audience, you don’t need as many visitors as you might think. We make more money with the strategy that we have outlined above than some bloggers with 10 times our traffic.
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