While at BlogWorld it was amazing to see how many people are not making money with their blog, or at least not fully monetizing their blog for a potential revenue stream. Though some of this information may seem basic to seasoned affiliates and bloggers, the purpose is to help and increase revenue growth and awareness for bloggers of all sizes. Here are a few ways that you can start making money with your personal or business blog.

1.)    Google Adsense
What has been referred to as many as “webmaster welfare”, is sometimes the best solution for beginners. For those just starting out with a blog, or unsure how to start making money, Google Adsense is a good way to start. As a blogger, all you need to do is place a simple line of code on your blog and Google Adsense will place relevant contextual ads on your web site based on your written content. However, since Google is doing all of the work, you will be receiving a small cut for the actual amount of advertising you are given.

2.)    Direct Advertising
One of the best ways (if not the best) to monetize your blog is to create your own on site advertising and to sell these spots yourself. Not only are you in control of what advertisements are on the site, but you are receiving full payment for each spot. The majority of blogs are implementing 125×125 ad spots on their pages for direct advertising.
- An excellent management system for selling ads on your blog is OIO Publisher. Many top bloggers are using this program to generate revenue monthly.

3.)    Paid Reviews
Once you have an established blog or brand, you may want to start offering services for exposure on your blog, such as a sponsored or paid review/post. The best way to offer paid reviews on your blog is to setup an advertising page for sponsored reviews, or you can also join “sponsored review” networks like ReviewMe and PayPerPost, which will feature your blog in their directory and send you new customers, in exchange for a commission percentage.

4.)    Contextual Advertising
Placing advertising on your site from Google Adsense is a form of contextual advertising, but it is also still also banner advertising and not displayed directly within your written content. There are many advertising networks out there like Kontera, which will find targeted keywords in your blog content and link them to specific advertisers. You are then paid per click to these advertisements.

5.)    Self Managed Content Links
Just like using any advertising network, the less work you have to do, usually the smaller margin you will receive. Instead of using  a company like Kontera, you can purchase a word press plugin (such as WP Affiliate Pro, which I also use) and manage your own content advertising. The best way to do this would be through affiliate networks and selecting offers that best match your content and linking up related keywords in your blog content.

6.)    Referrals
Depending on your blog niche market, you can earn commissions on referring your readers to other networks or web site. A great example of this is for affiliate marketing. If you refer an affiliate to a network, you can receive a percentage from all commissions they generate for the life of their account. Another example would be to provide your visitors to a service they are billed monthly for, some programs will then pay you a commission every month as long as they remain a subscriber.

7.)    Widget Based Programs
If you currently run a blog that is focused on product reviews or about any type of item sold in stores or online, you may find that “widget based” programs perform best with your blog. Programs like Chitika, WidgetBucks, Shopzilla and TZZ Media will all display relevant advertising on your blog, matching up with your content. Most of these programs pay on a per click basis. As most of these programs are widget based, you will have actual text and picture ads displayed on your blog, rather than just text within your content.

8.)    Contests & Promotions
Though you may not get paid for running contests or promotions on your blog, if you run them correctly, you can be compensated with a prize or additional advertising. Additionally, running contests will also increase your readership, as everyone likes free stuff! (Example: If you are running a niche blog on digital cameras and Nikon or Canon were to offer you a free camera to review and one to give away to your readers, this would be a great form of compensation, while offering great information to your readers.)

9.)    Consulting
One of the best ways for you to get exposure for yourself or your brand name, is through having a well known blog. As your readership and branding grows, you may be able to offer “consulting” services if you become a prominent and very knowledgeable in your niche area. There are many very big name bloggers out there who make all of their money off public speaking or consulting, and have NO advertisements on their blogs.

10.)    Self Branding
As cliché as it may sound, the “self branding” and exposure you can receive from your blog may end up being the most power asset you can receive. Not only are you building up your brand name, and people are rushing to your blog with every new post you write, but you are also becoming an expert in your niche area and advertisers will flock to you. As you gain a bigger presence online, you will also start networking more and more, which will only continue to grow your blog and your bottom line.

The most important thing to remember when trying to make money through blogging, is that it is NOT fast and it is NOT easy. It’s actually one of the slowest ways to make money online, and as a blogger you will need to establish yourself and continue to write quality content. It’s the long term value and connections you will establish over time that can make your blogging experience priceless.

Please contribute to the list with any other advertising options I may have missed or what you have found to be most profitable.