Unlike contextual ad, text ad and RSS ad programs which help you find advertisers, sponsorship is a kind of advertising where bloggers have to look for their own advertisers. The best way of succeeding with sponsorship is by targeting advertisers who are offering products or services which are closely related to the topic of your blog. You can offer them a wide range of advertising options, including buttons, banner ads, individual post sponsorships, text links or even mentions in newsletters. When writing a sponsored post, make sure your audience is aware that the post has been sponsored. Once your blog grows in profile and traffic, it will eventually get the attention of bigger advertisers who might be willing to pay more.
2. Affiliate programs
These are programs which pay you a commission whenever you refer someone who buys a service or product from a company. One of the most popular affiliate programs is Amazon, which features hundreds of products which you can promote. Other affiliate programs worth considering include Clickbank, Linkshare and Commission Junction.
To derive maximum benefit from affiliate programs, you will need to put in a lot of work. However, if you match the right topic/blog with the appropriate program, it can be a very lucrative venture.
3. Flipping/Selling blogs
Flipping or selling blogs is a very lucrative idea which few bloggers have ventured into. It involves starting a blog with the intention of selling it later for a profit. Blogs can be sold through auctions such as SitePoint and eBay, or via private arrangements. However, succeeding in this venture requires patience. It normally takes time to build a quality site which has a good income stream, as well as a sizeable readership.
4. Tip jars and donations
There are a few blogs that have been successful in earning an income through these strategies. To make money through tip jars and donations, you need to have a loyal and huge readership base.
5. Selling subscriptions
This involves charging readers a small fee to access your content. However, not many blogs have been able to succeed in selling subscriptions. For most subjects you would want to begin a blog on, there are probably already sites or blogs out there offering the same information for free. Therefore, to succeed in this venture, you need to come up with very exclusive/premium content or specialized knowledge on a subject.
6. Blog networks
Blog networks are becoming increasingly popular with bloggers as a way of making an income. You can earn money in two ways. First, you could join one of the many blog networks out there as a writer. This includes b5media, Weblogs Inc., Hubpages, Simply Good Media, 451 Press, Content Quake and Today.com. You will need to take time to compare the different networks before choosing one that suits you best. Alternatively, you could opt to launch your own network and invite other bloggers to write for you.