Sorry for my absence. If you read my other blogs you probably already know but my son decided to ignore is proposed due date and come a few weeks early. Click here for pics. This, of course, has set my back a bit so you’ll have to bare with me as I adjust to life with a new baby.
How will I know if or when the right time to monetize my blog is, what numbers should I be looking at and what should they be?
This is such a great question and one I’m not sure I can answer on my own. Mostly becuase I don’t think there is a "right." In my opinion, there is no need to wait for specific numbers before monetizing. If anything one should have some monetizing opportunities in place to take advantage when traffic increases. For example, I have always fiddled with google ads. I know they aren’t for everyone but with a low barrier of entry they make experimenting with ads easy. About 5 years ago they were the only ads on my page. I had one in the side bar and one in the footer of all my posts. Then the unexpected happened. MSN linked to me. All of sudden I had an influx of traffic and coincidently an influx of ad income…
That’s my Google Adsense report for May- June 2007. The spike is the day MSN featured my story. As you can see the traffic bump didn’t last long BUT becuase I had ads in place I was able to take advantage, making over $150 in one day.
I’m a big believer that luck is preparation meeting opportunity. Was I lucky that MSN linked to me? Yes. However, I filled out their questionnaire and submitted my story. I had ads in position on the blog. My site was also updated and active with comments at the time attracting new readers and giving them a peek at what kind of blogger I was/am. So in addition to the increased revenue for that month, my RSS subscriptions jumped as well.
Of course ad income isn’t the end all be all when it comes to site monetization. You can also start to form relationships with companies, open affiliate accounts and test different monetizing strategies. All of these initiatives can be done regardless of current traffic. Of course the more traffic you have the more money you can make but there should be nothing stopping you for experimenting now.
That’s my 2 cents but I’m curious how others feel. Do you monetize your blog? Did you wait until you reached a certain number of page views before monetizing? How did you know it was the right time for you?