This post is in response to Problogger’s Group Writing Project where you can win $1001 courtesy of Chitika by simply writing a Top 5 post. This time, I wanted to get pretty deep and focus on a topic that’s pretty important to most bloggers and of course to Darren himself…monetization.
If you didn’t know, the act of monetization involves placing advertising on your site in most cases and making from a few bucks to 6 figures in the case of Dazza himself and many other bloggers around the blogosphere. Sure, we’ve all heard of the normal Contextual advertising, Google Adsense and the like. But here are the Top 5 Forms of Monetization that I think will make it big in 2008:
- 1. Inline Video Ads: We’ve seen the launch of Google’s Video ads, but so far I just havn’t seen them being used widely. I think that in 2008, with the rise of vlogs (video blogs), and rich multimedia content being used (like at YouTube.com), we’re gonna see advertisers jumping at the chance to put their ads alongside videos - and this could prove to be lucrative for those who currently make their own videos.
- 2. Information Products: Whilst there are loads of PDF files floating aimlessly around the net, I think that more and more people will start to take notice of creating their own information product. Heck, even I contemplated writing a book about Teenage Entrepreneurship but I never really found the time. It’s so easy to do, all you need is Microsoft Word, a Paypal account and an idea for your ebook to take off - and there’s a lot of people willing to spend some big money for a decent read.
- 3. An Audio Advertising Stream: This is a completely new idea that I’ve not seen implemeted yet, but there are an array of bloggers who have audio files on their site. How about an audio file with a “radio-like” advert from a few sponsors. This can play on a loop and users will have the chance to turn off their speakers or pause the loop? It could prove to be pretty lucrative and if it kicks off - I want a 50% cut!
- 4. Pay-Per-Action: Again Google is testing something along these lines, whereby clicks don’t equal dollars, but that money can only be earnt if the person clicks on and then makes a purchase - instead here, a much higher rate of commission will be paid. People are becoming more money hungry and so are bound to adopt this method of earning over the traditional EPM and PPC models.
- 5. Consultation: OK, this one may sound a little far-fetched, but everyone of us does have a skill. Now, supposing we made a blog or website about our skill and then offered consultation and advice to other people as to how to adapt, use and master our particular skill. Many bloggers do this by consulting in artwork, in design, in copywriting and in blogging itself - and its proved costworthy and lucrative for most. Charging by the hour, or by the session could work here - and again all you need is a microphone and a Paypal account to collect the funds.
All in all, 2008 will be a year of progression whereby we’ll build on the monetization methods of the year before. And with the amount of people joining the net and jumping onto the crazy money bandwagon, these forms of making cash online are only going to get more popular and bigger than ever before.
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18 responses so far ↓
1 Stu // May 11, 2007 at 12:32 am
Video ads - only if I can choose to play them. If I get confronted with video ads (especially with audio) without asking for them, I’ll jump to the “big red X”
Audio Stream - same thing - give ME the option to play them, don’t have them automatically play
2 Dennis // May 11, 2007 at 8:10 am
A shared revenue system through Social Video sites, like YouTube, will definitely be the next big thing. I can see independent VBlogs grow from this advertising model.
How have you been Adnan? I use to blog at YoungMoneyBlog but had to change to ProMoneyBlog after a little dispute =( .
3 webee // May 11, 2007 at 8:37 am
hi adnan,
i too think that rich media will become more used as an advertising tool.
but i also think that we haven’t yet found the solution for non obstrusive advertisments with this….
but you’re deadline is permissive. so until 2008 … let’s wait and see
webee
[is a design blog]
4 Ray Johnson // May 11, 2007 at 12:40 pm
I like the idea of consultation I mean imagine being paid for a hours worth a work just to help someone succeed. That is priceless in itself. Great 5
5 adnan // May 13, 2007 at 4:00 pm
Haha thanks everyone for your input - it seems we agree on the whole rich media - the rise of video on the net is phenomenal and YouTube is only getting bigger - I’m sure Google have a plan for user monetization just like Adsense ready and waiting.
@ Stu: Of course, I’m sure they’ll take your points into consideration, as I would get annoyed with ads in my ears without my control!
@ Dennis: Hey mate! Havn’t spoken in a long time! Yeah I saw and read about the legal dispute, but I really like your new theme and writing, so keep it up mate and hope to see you a lot more around the blogosphere!
@ webee: Lol yeah at least we can wait and see if I was right!
And finally Ray: yeah, there’s so many consultants cropping up, and they’re earning big bucks from Seminars and Online Chat session and the like. If you can find your own niche to dominate then you’ll be set!
Cheers again peeps.
6 Court // May 17, 2007 at 2:51 am
I agree in a major way with #5. More and more people who already have businesses are using the web to offer their services.
7 adnan // May 17, 2007 at 5:16 pm
Hey Court - nice to have a new guy on the block - so welcome
Yeah consultation is gonna become big - especially with the increase in communications services such as Skype and the like, which make it that much easier to give lessons and conferences.
Thanks for commenting.
8 ChrisJ // May 20, 2007 at 9:24 pm
I agree 100% with #2. The short time I have been involved in blogging and trying to find ways to monetize I’ve noticed how tempting it is to buy a simple 30 page pdf for pennies. There are millions out of them out there on any topic you can dream up.
I am currently partnered with a site that sells these type docs for $7 and then turns around and shows you how to do the same. You get out of it what you put in it.
I enjoy your blogs, keep up the good work!
Chris J
9 adnan // May 21, 2007 at 5:17 pm
Hey Chris - thanks for dropping by mate - and thanks for the kind words.
Yeah I did think about starting up my own information product, but the only barrier to entry here is time - everyone has knowledge of a particular field they’re interested in, whereas time is all that’s needed to take a PDF from start to finish.
Yeah the $7 is quite a phenomenon, because it seems like pocket change for the buyer, but for the seller, loads of $7 sales can add up very quickly. $19 and $47 are also great numbers for eBook sellers!
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14 Fiona // Aug 19, 2007 at 12:39 am
hi nice post, i enjoyed it
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