Around 45% of bloggers who earn over $50,000 per year sell their own products or services, which is food for thought for those who are thinking of going from blog writer to entrepreneur. Of these, say researchers Growth Badger, around 73% focus on the needs of a specific group or niche. Whether you cover health, beauty, business, or SEO in your blog, there is a way to use the latter as a format through which to present your expertise.
Giving your audience what it demands will keep them clicking on your page, but also garner their interest in what you have to sell.
After all, if you manage to establish yourself as an authority or specialist in your field, your services are more likely to be viewed as a good investment.
Bloggers who Have Taken the Leap
The wide gamut of blogs that have turned into million-dollar businesses is vast, and their founders are a clear example of how the initiative can make the most of online connections to earn a profit. Just two examples worth of mention are Groupon and Kissmetrics. The former, a business promoting discount coupons for a wide array of services and experiences, has a gross profit of hundreds of millions. To launch it, the founders revamped their WordPress blog and began offering deals on restaurants and other services in the Chicago area. Kissmetrics, meanwhile, was founded by digital marketing whiz Neil Patel, who established himself as an authority blogger before deciding to branch out and help companies with their digital branding strategies.
Choosing Your Niche
Blogger entrepreneurs that have made the successful transition have one thing in common: a passion for a very specific service that is in demand. If you have just started blogging and you don’t know which of your passions to pursue, bear in mind that many so-called ‘niche’ products and services produce tens of thousands of results when searched for on Google.
Your niche should be as specific as possible, even though your target market is large.
Examples of ultra-successful niche companies include Nerd Fitness (which marries the gamer/nerd mentality with fitness), The Tiny Canal Cottage (which focuses on tiny living spaces), and Motherbirth (which highlights the transformative nature of motherhood).
Building a Network
If you are new to blogging and still working to improve your brand awareness, working alongside successful bloggers and influencers will help bring their audiences to you. Try to entice influencers by offering them affiliate marketing opportunities, interviewing them on a podcast, and by paying them to write about your product or service. You may not be able to afford the services of a huge influencer, but micro-influencer marketing delivers high engagement and conversion rates despite being cost-effective.
You may also decide to expand your team, initially offering staff the chance to work remotely, so you save on office rental costs. If you do decide to hire staff, be aware of legal obligations, including home-based business insurance and other compensation metrics. You essentially need to ensure that if any employee has an accident while carrying out work obligations, your personal or company assets will remain untouched. You will also need to invest in employee training to avoid online cybersecurity threats; you may also need to make an investment in online security software.
Diversifying Your Income
If you are starting to sell products or services through your blog, you can consider diversifying your income stream in other ways. These include featuring branded content on your blog from non-competitive businesses, freelance writing in your area of expertise, and accepting ads on your site. You can also offer consulting to other bloggers in areas like SEO, social media programming, graphic design, and any area you excel in.
Building a successful business through your blog is a process that involves plenty of strategy and innovation. Once you have established yourself as an authority in your field, you will have the advantage of a loyal readership that trusts you. Offering them quality niche services is key.