Learning how to create a product will help to create passive income for your blog or biz. This post is assuming that you already have a blog that you have just began to monetize, or are thinking about monetizing.
Blogging newbies I recommend starting HERE before you worry with monetizing your blog.
If you have ever considered creating a product or service as a way of monetizing your blog then you are on the right track. Here are a couple of things you should consider before you create your product or service.
Find out who is reading your blog
The easiest way to create a product or service is to pay attention to the traffic that your blog currently gets. If you are using WordPress it’s easy to pull up search terms right in your dashboard.
You can check your site stats for which blog posts and pages get the most views, and also find out what search terms are bringing people to your blog. It’s a smart idea to hook up with Google Analytics for your blog and Google Webmaster Tools. It will give you a more in-depth look at what kind of traffic you are getting and from where.
What need are you filling with your content?
Hopefully your audience is responding to your content. This will be evident in stats like a bounce rate, pageviews per visit, and also the number of return visitors. (All stats you can see in Google Analytics). If your bounce rate is fairly low, you have lots of pageviews per visit and lots of return visitors, then chances are, you are doing your job at engaging your audience.
Now, with that being said, what need are you filling? What information are you providing that is helping your audience? What problem are you solving? Hopefully you will be able tell by what content is being searched for and read the most on your blog.
How can you further fill that need?
Once you identify the specific need you are filling, or you see what people are mostly interested in your blog for, it’s time to think about monetizing that. For instance, I wrote this post about making money with your blog. I noticed a huge skyrocket in my traffic, all due to this one post. Literally, it still gets more views per day than any other page or post on my blog combined. I also notice that search terms about making money blogging are the number one terms that bring people to my blog.
I really had no intention of creating a product or providing a service surrounding this topic, but I have to adjust accordingly. It is what my audience wants, and I am in no position to refuse them or refuse to pay attention to what I am seeing. Obviously, my audience wants to know more about this, so I’ve got to give them what they need. Fill the need with an awesome product. Stay tuned for this product, it’s going to be great!
But I am exploring now how I can add more value to these people who are coming to my blog seeking these answers. Then I will create the product, launch it, and make some extra change from it.
You can create products such as books, courses, seminars, and services such as coaching and consulting, or some sort of management.
The Marketing Bit
Of course, with any good product, marketing will always be key. No matter how great your product or service is, if you don’t know how to market, you will not sell very much. Marketing is not sleazy. Today, marketing is about connecting with people, build relationships, establishing credibility, and adding value.
For more on making money with your blog, check out this tutorial: