ATF 014: Are You One Revenue Stream Away From Becoming A Broke Blogger?

Hey everyone, Fabrizio Van Marciano here; welcome to yet another episode of the Above The Fold podcast show for bloggers and solopreneurs. In this week’s episode, we’re going to discuss making money from your blog, but moreover, if you’re only using one monetization method, how you could be one income stream away from being a broke blogger. Let’s get to it.

Hey there, Fabrizio Van Marciano here; welcome to yet another episode of the Above The Fold podcast show for bloggers and solopreneurs.

This podcast is all about me sharing with you my journey into the blogging unknown, as well as actionable tips for creating engaging content, growing your blog, increasing traffic, growing an audience, monetizing your blog, and a whole lot more.

In this week’s episode, I want to talk about blog monetization, but more specifically share with you my view on the one method strategy:

If you have no idea what I’m talking about let me explain –

If you’re only relying on one monetization method for your blog, right now, then you’re ‘one income stream’ away from becoming a broke blogger.

Sounds kind of scary when you think of it that way, right? Let’s get into it!

Welcome back to the podcast, thank you for joining me once again for another episode. I hope you’ve been keeping yourself safe and sane since the last show.

I want to talk about a specific topic surrounding blog monetization. If you’re currently not monetizing your blog, hopefully, you’ll find this episode useful for when you do decide to monetize your blog in the future.

So, if you are monetizing your blog right now, look at the overall income you are generating and ask yourself, where is that revenue coming from, mostly?

More importantly, you should be able to identify if you have more than one stream of revenue coming from your blog.

The reason I’m bringing this up is that I know from experience that it’s not easy making multiple income streams work for your blog. And I’ll share with you some tips shortly, or at least I’ll share the things that I’m doing that seem to be working for my blog.

But here’s the thing:

If you’re only relying on one source of income from your blog – That one source could be from anything:  Google AdSense, or selling eBooks or an online course, or publishing sponsored posts or promoting a few affiliate products and services.

It doesn’t matter.

What matters is this –

By only relying on one source of income from your blog you’re putting yourself in the high-risk category of being one revenue stream away from becoming a broke blogger!

Unless, of course, you have other streams of revenue coming from outside of your blog, in which case none of this matters.

But seriously, have you ever thought that way about your blog monetization?

Sounds kind of scary, doesn’t it?

And the truth is that as bloggers we can easily fall into this trap of heavily focusing on one stream of income from our blogs, especially if that revenue is good.

Sure, we may be working on other solutions, but we do tend to naturally gravitate towards the source that’s making us the most money and profit. I’ve been there too. You know, we’re only human.

But imagine this:

You put all your hard work into one monetization method for your blog, or rely on one source of income – and then a few years down the line, that source of income goes away.

Not great, right? It can and does happen.

There was a time when I only relied on one income stream from my blog too. And one day, that’s exactly what happened. That income ran dry.

I was so obsessed with promoting this one single product as an affiliate and making good money in the process, and then that product went away. And I was left scratching my head about what to do next.

Luckily, blogging isn’t my only business venture, so I was able to begin working on other revenue streams.

I don’t want that to happen to you, I don’t want you to make the mistake I made. This is why I wanted to bring this topic up and talk about it in this episode.

So now I have more than one revenue flow from Magnet4Blogging. And the other thing is, you don’t have to just use your blog, you know? You can create revenue streams from outside your blog even if you’re not already doing that, and I’ll explain how I do this shortly.

So, let’s skip back a little bit because I want to share some quick tips on how to make multiple income streams work for your blog in the long term.

One tactic I’ve found to work really well is to focus on one potential revenue stream at a time. Also, persistence is key. Again, I know how hard it is to make one stream of revenue work let alone many streams. But let me give you an example.

Payhip is a service that I love to use and promote. I’m sure you’ve heard me talk about this platform many times already. It’s a great place to promote and sell your eBooks.

But I don’t just promote the service on my blog, I also market it through other content mediums such as my YouTube channel, this podcast, social media, email, etc.

But when I started promoting Payhip, back in the day, and this goes for anything that I generally promote online. What I did was first make a list of all the things I could do to promote the service.

My list included things like –

Write an in-depth review. (Tutorial)Create a comparison post and video.Create a tutorial post and video.Interview the product creator.Write a case study post or page.Share my own experience of using Payhip through my blog and vlog.Provide a testimonial with my affiliate link on social media.Include Payhip on my Resources page, list posts… etc.

I still have many more tactics to explore, but I only want to share a few in this episode.

So how did I go about doing all of those things, you might be wondering?

Well, I certainly didn’t do it all in one go. That’s not the idea with affiliate marketing. Not to mention that it would be insane and way too tedious.

Remember what I said just a moment ago: Persistence is key. And to avoid boredom and procrastination, in order to be persistent, you have to spread things out over the course of time rather than try to do it all in one go.

Blogging is not a quick fix to anyone’s financial woes. If you’re in blogging just for the money then you’re going to be in big trouble if you think you can make this last.

So what I did was spread my promotion campaigns over some time. You know, I took a few days out of each month to work on promoting Payhip. And that’s it. That’s all there is to it. No more, no less.

This method is especially useful if you’re trying to promote multiple products and services through affiliate marketing and your blog.

So eventually, I had gotten through my marketing campaign list for Payhip. I’m still finding new ways to use and promote the platform, as I said, but my monthly revenue stream from Payhip has been steadily increasing.

In fact, as of the end of last month, I broke through the $1K from the Payhip’s affiliate program. I was able to make just over $1,200 from Payhip. Which is pretty awesome!

Once I felt comfortable that I’d done enough to promote a product or service, I would move on to the next.

So, yeah, that’s the strategy I’ve been using for a long while and one that has been working for me, especially when trying to create multiple income streams from my blog.

Give it a try and see what happens if you’re not already implementing a similar strategy.

For me, I feel that by spreading my monetization strategy and campaigns over time, I’m more likely to stay focused, productive, persistent, and get the results I want.

Remember, if you want to create a blog that will earn you income for many years to come, you cannot just settle for one income stream.

Selling eBooks might be great now, but there will be a time when that will stop. Or promoting one product from one company and earning huge commissions might feel awesome, but there will be a time when that stops too.

You have to create more than one revenue stream and focus on making each one work using a strategy similar to the one I shared with you earlier.

Right then, before I end this episode, I did say that I would share how I’ve been creating income streams outside of my blog. So hopefully, by doing so, it will give you some inspiration to do the same.

So, here’s what I’ve been busy working on in the last twelve months –

YouTube – I’ve had my YouTube channel for well over 10 years now, but I didn’t start putting it to proper use until around 2017. That’s when I started creating more meaningful content, tutorials, reviews for my channel, and early last year, I qualified for the YouTube Monetization Program to use Google AdSense. I know it’s not a big deal, but the extra few hundred dollars each month adds up over a year, which is nice.Selling eBooks – As you know, I’m a huge fan of creating and selling eBooks. I only have a couple for sale here on my blog. And, of course, I sell my eBooks through Payhip (Affiliate link). Last year I sold just over 100 copies of my Pro Blog Planner, once again, not a huge deal. You know, I’m not going to become a millionaire selling eBooks, but it all adds up.Amazon Niche Sites – I have several niche sites earning passive revenue through Amazon FBA. Those sites are mainly in the tech niche, photography, and office tech. If you have an Amazon Associate account, I strongly recommend using your blog to make extra money. You can start by reviewing books, or any technology that you use in your business, etc. It’s probably one of the easiest ways to earn money, even though the commission rate is relatively low these days, but it’s a good option if you have decent content and traffic.Crypto/Investments – This is kind of new to me; it’s something that I’ve started learning about late last year, but I know it’s not for everyone as there are risks involved in this tactic. I began investing in Bitcoin (BTC) and other cryptocurrencies such as Litecoin (LTC), Cardano (ADA), and Stellar (XLM) late last year. I started to see some income created from these investments. Nothing big, but again, it adds up. I also have shares in Tesla (TSLA) and Apple (AAPL) stocks, which I like to monitor closely, and those are more kinds of long-term investments.Selling Online Courses – This is my next big project, creating and selling online courses. There is a lot of need for online education right now, and I’m really excited about launching my course, hopefully, in a few months from now. This has been a project in the works for the best part of the last six to eight months, but with so many distractions during 2020, it’s been almost impossible to complete. But I will get there in the end.

So yeah, I  just wanted to share a few ways that I’m creating income outside of my blog. Some are working well, others are work in progress, and some in the growth process.

OK, so that it. It’s a wrap for this week’s episode, guys – Again, if you are seriously thinking about turning your blog into a profitable business, don’t get too caught up in the ‘single method’ strategy when it comes to monetizing.

And don’t even attempt to create multiple incomes in one go. You won’t achieve it in a few months even, I’ve been blogging for ten years, and this is still a work in progress for me, so take your time.

I know it’s not easy. It’s tedious work and can get boring and disheartening at the best of times. You have to do your research, then plan, then execute. But it’s well worth it because If one stream of revenue fails, at least you’ll have others to fall back on.

Right, that is it from me! I hope you found this episode useful. If you enjoyed the show, don’t forget to check out my other podcast episodes. And also, subscribe for future episodes; I much appreciate your time. If you’re feeling generous, you can also leave me a short review over on iTunes and Google Podcasts. Until the next episode, take care, stay safe, keep blogging and earning. Peace!

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