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Day: August 18, 2019

Making Money Online: Blogs versus Subscription Websites

What is the difference between a blog and a subscription website?

This is a question we are often asked.

Our answer usually goes along these lines:

There are some similarities and many differences between blogs and subscription websites.

Let us start with the similarities:

1. The majority of blogs and subscription websites focus on a narrow specialization. For example, fly fishing in Scotland or beer distribution in the US.

2. Both are usually driven by an individual's passion and expertise for their specialization.

3. Both involve writing about this specialization and posting this information on the web in a timely way

Now the differences:

1. Blogs are usually written by people wishing to share their opinion and expertise.

2. Very few blogs make money.

3. Even fewer allow their editors to do it as a full time job.

4. Subscription websites are usually setup as commercial businesses. Their intention from the outside is to generate income from providing access to unique and expert knowledge.

5. The single owner or small team are usually full-time.

6. Blogs give all their content away for free. Any revenues are generated by advertising revenues or referral to another business activity. Subscription websites typically require members to pay to get access to their premium content.

Today there are around 50 million active blogs. It is estimated that less than 500 of these make sufficient revenue to give one or more people a full time income.

There are probably less than 30,000 subscription websites on the internet, but we would estimate that over 80{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of these are generating a full time income for their owner or company. Some are making many millions of dollars.

For the more internet savvy, it is worth putting some numbers around the different revenue generation methods – Advertising vs. Subscription.

Assume a website publisher wanted to make $ 100,000 per year from their specialist content website. These are the rough sums:

A Blog with Advertising

The average revenue from advertising for a blog is $ 3 for every 1,000 pages viewed ($ 3 per CPM). To achieve $ 100,000 revenue a site would have to have roughly half million visitors each month each viewing an average of four pages a visit (2.7m pageviews / month).

A Subscription Website

For a subscription website to achieve $ 100,000 revenue they would need to have 834 subscribers each paying $ 9.95 a month.

Blogs need high volumes of traffic to generate advertising revenues. Subscription websites need a lower number of highly dedicated and committed members.

The type of content also offers to different.

Blogs generally provide highly timely news and opinions about their niche subject. Successful bloggers often post multiple times every day. Their goal is to get readers visiting a little and often. This tend to generate the most advertising revenues.

Subscription websites tend to have a much more diverse range of content including:

o Directories

o How-to articles

o Applications (eg online investment portfolio management)

o Forums

o Events calendars

o News …

Business Success Tip – Never Stop Learning

Business owners sometimes have a hard time with change. Setting up a business takes a ton of work to begin with and changing the way you've decided to do business means even more work. Chances are, when you set out to start a business, you did not do it because you were interested in making your life as tedious and laborious as possible. On the contrary, you wanted to do something you loved and were good at and make some money from it. Unfortunately, change is the only thing anyone can count on in the future. The good news is that the more open you are to changes, the better your business will absolutely be and the easier it will become both to do business and to keep adapting. Cultivating a love of learning and a willingness to apply it is the single best thing you can do for your business.

Learning new things everyday and staying on the forefront of technological and business trends will help you keep your business relevant and competitive. Learning as much as you can about your industry, business in general, and your customer's wishes may inspire you to make changes in your business, and making these changes might not be fun or easy, but every time you make a change and learn from the out, your business becomes a sleeker and stronger. Also, many of the technological innovations that appear every day are created to make business easier. So, if you can summon the motivation to make a change now, you can potentially save yourself a lot of time and effort in the long run.

Many of the largest companies in the world are able to remain viable because they are willing to make necessary and sometimes painful changes to their structure and business model. Bill Gates is the CEO of one of the largest and most successful companies in the world and he is a self-proclaimed lifelong learner. He attributes his success to his desire to learn new things all the time and his willingness to make changes based on his learning.

If you stop learning, innovating, and advancing, you fall behind; because the rest of the world is thundering on like a juggernaut and they have no problem leaving you and your silly little company in the dust – more cake for them.

If you can learn to love learning, your responsibility to stay on top of business trends will be met with ease. Then, you need to be humble enough to open your mind to the possibility of changing the way you live and work for the better. Easier said than done, I know, but not only is it helpful to your business to keep learning, it's absolutely vital.

Success Tip: Never Stop Learning (employees)

We've been admonished our entire lives to learn. From the time we enter kindergartens to the time we graduate from college, our main purpose in life is to consume information and regurgitate it on demand. The …