This is the final installment of a ten part series in boosting your blogging income. Over the last 9 days I’ve shared a variety of ways to boost your blog’s income over the short, medium and long term and if there was nothing there to inspire you or make you site up and go “yes!”, then it’s time for that difficult conversation – Is it time for you are your blog to break up?
It could be that you’ve lost your passion for your blog. It could be you’ve become so successful that you don’t have time to write anymore, it could be that you need the time spent blogging to do other things, it could be that you no longer have the same online lead generating objectives.
Whatever the reason (and it should be a good one) don’t just let your blog wither and die alone in the blogosphere, don’t abandon it so that it dies of a broken heart. There could be an opportunity to sell your blog and make money that way. If you have good traffic, good reader engagement and a monetization strategy in place, your blog will be very attractive to buyers and it may fetch a good price.
Steps to selling your blog.
Make It Saleable from the Start
If you think you might someday sell your blog, set it up from the start so that it can be easily transferred. Choose a domain name that doesn’t mention you specifically. Avoid names like www.yourname.com you will struggle to sell a site that’s branded you, and the new owner has the hassle of rebranding all the site. Try to keep from making your content overly personal, sure they must have a bit of your personality involved but not so much that if you stopped blogging the site would collapse. The person who buys the blog from you will need to be able to take it over and keep on blogging on the same topics and grow the site. That can’t be done if your site would die without you.
Your Blog’s Competitive Advantage
When selling your blog, you need to know its competitive advantage. What makes your blog unique among all of the other ones in your niche? Make your differentiation clear in your sales presentation. The uniqueness of your blog will add to its value. This aspect is quite tough, Birds was unique yet each month another copycat emerges from the woodwork. Not only does it make it difficult to sell my site, it makes it harder for them to sell theirs. The one thing in my favour is we’ve won lots of awards, proving the original is always more valuable than the copy
Make Your Blog Attractive to Buyers
Work on building traffic and earnings with your blog and keep track of all analytics. The value of your blog is determined by several factors, including earnings, traffic, age, links, design, quality of content, and rankings.
Often blogs are valued at ten times their monthly profits, adjusted using the other factors mentioned above. When you have the data, analyse it and decide whether you would invest in the site, if you wouldn’t… then you have some work to do. Start building your list actively – use a pop-up and set up an autoresponderto maintain contact with your readers. Marketing to your email list is another way of increasing revenue, but there’s a fine line between boosting your income and burning your list to zero. If you burn your list, you’ll struggle to sell your site.
Explore Flippa.com and see what sites are selling and for how much, what functionality they have etc. Research what blogs are selling and what buyers are looking for.
Don’t bother trying to sell your blog if it’s just a few posts that were written 100 years ago, update your content and make it relevant and if you can’t be bothered to do that, get someone in to do it.
The content on your blog needs to be high-quality, a ghost blogger or editor will help tidy things up for you. Make sure you get someone with experience in blogging and online sites to help you or you will waste hours training them how to format posts, add images and so on.
There should be a track record of frequent posting and make sure you own and have accredited all the images correctly. Make sure your content is original and isn’t scraped from other sites or spun using one of those tacky pieces of software – if anything isn’t as it should be, then edit it and make it better or remove it.
The amount of quality content on your blog adds to its overall value. If you are starting out with the aim of selling your blog then these tips are essentials and ways of keeping your blog on track.
Engagement Is Key
Reader engagement is one way of determining a higher price tag for your blog. You need as many comments, shares and other interactions (signs of life as I call them) as possible.
Lots of subscribers? Then you have the advantage over other blogs for sale, there is an existing, committed audience for the blog, and that’s a great sign. The new buyer don’t have to build a brand new following from scratch, they only have to build on the existing following.
You may also find a new buyer among your following, one of your readers might like the site and wish to buy it. Don’t keep the sale of your site a secret, word of mouth can help you reach the right buyer.
Keep Developing the Blog
If you can’t get the price you want for your blog, you need to consider investing more time in building it and then readying it to sell in the future is always better than abandonment. If it’s going to require too much of your time or you just don’t want to, then outsource your content creation and focus on building traffic and monetizing. You’ll then be able to put your blog out on the market for a higher price.