Here is a common question from those who start blogs and want to monetize them correctly. We haven’t really tried to monetize this blog but think that the same monetization methods work for blogs as in any website. Here is the question from Thuy
“I guess my question to you is do you consider 6 months too much time to waste on building traffic to a single site? How long did it take you to generate money? Do you think that I should consider this sports blog of mine to be a failure? Should I move onto the next idea and scrap this one?”
The good thing is that you are taking action. A lot of people know all of this or are constantly searching for the How-to’s to make money online but they really do not take action.
From my experience, you probably learned a lot from that one site. Honestly, a site is never finished and should always be improved for traffic, content, etc. I think that you can see that you really can not “get rich” by working hard yourself – you need to leverage your time and money – If you want the blog updated often, have you considered finding a writer for it? I know that writing content takes a lot of time – at least for us. It looks like your traffic generation method is ineffective also or not producing the results you want. Have you tried link exchanges? paying for traffic? contests? there are many ways to generate traffic but it is vital to do so. PPC or pay per click is one of the most effective method of generating targeted traffic. If you do not have an Adwords and YSM account yet, go get them.
After you have traffic, you can monetize the traffic with different methods like adsense, ypn, affiliate promotions, selling your own product (test by selling on ebay first and gathering email contacts from your blog telling them of your planned product and check the buying potential). The most profitable and stable monetization method is having your own products to sell because you control almost everything – however you need to deal with customer service, product creation, branding, etc – you need a team to help basically. The other monetization method that is probably more profitable and stable is selling private ads on your blog. The easiest monetization method in my opinion is Adsense and CPM ads from sites like ValueClickMedia.com which pays per 1000 impressions – however, the profit is not as high or consistent as having your own product, and you have no real control over your revenue.
We have about 300 domains now and each one when we bought it at the time seemed to be a good idea. Only about 15 of them have “full” sites on them we have updated regularly. Yes you can probably move on and maintain this site but I suggest you continue to get traffic to that site and keep learning from it.