A blog business plan is what helps you navigate through the storm and keep you up-to-date, while achieving your most impactful goals. And at the end of the day, I am living proof that through blogging you can make your passions a profitable business.
In order to first of all transform your blog into a profitable company, you must build a strategic business plan for your blog.
What Blog Makes a Business?
Any blog can easily become a company with the right level of planning, care and time. The basic premise of a blog business is: a repeatable method for posting content has been developed. You’ve learned how to reliably traffic and how to monetise traffic through a variety of platforms. The monetization component is where much of the focus (soon) goes when the blog is a true company. You will encounter techniques such as advertisements, sponsorships, partner schemes, sales of your own physical or digital goods and many other blog monetization strategies.
And to incorporate these three main elements, it helps immensely to have a clear marketing plan for blogs that tell you what to do next.
What is a business strategy for a blog (and why do you build it)?
A business plan is a blueprint for the company in its simplest form. It explains your company goals and details how you can accomplish them. And to be successful, your business plan must be written down (so that you can refer to it frequently) and must include schedules wherever possible.
So why do you need a business plan for your blog?
Here are the four key ways to profit from developing a Blog Business Plan: a Blog Business Plan gives you a simple vision of what you want to accomplish. It helps you create a greater sense of responsibility. It allows you to set well established targets (that contribute to your global goals). If you follow it closely — and plan to spend some time exploring, sailing detours and humpy roads along the way — it will be a very satisfying journey and destination.
Let us now explore how to build a blog business plan which will lead you where you want to be in the weeks, months and years to come.
How to build a 6 simple step (free template) Business Blog plan Identify your Blog Business and Set Realistic Targets Do Strategic Analysis of Starting and Increasing Your Blog (a successful way to achieve profitability) Map Out of Your Traffic Generation Strategy Formulating your Blog’s Work Cycle Start (and Optimizing) I am paid to buy a product or service using my affiliate connection to make content like my final guide on how to start a blog free of charge for you. Know that I suggest only goods and services that I have used and am standing behind.
Now that we’ve discussed the fact that your blog should be viewed as an actual company (if you intend to take advantage of it), it’s clear that a blog business plan is imperative.
So let’s get interested in creating your own blog business plan that sets you on the road to revenue generation as soon as possible.
1. Defining your company and setting concrete goals The first step to creating a business plan for your blog is to determine what really is going to be your business.
Ryan Robinson, Blogger Planning at the Coffee Shop That means setting the groundwork for what you blog from which niche, who your target will be, which (tangible) goals are most important for you to achieve and at the most loose sense of how you plan to make the money from your blog in the near future.
Choosing a niche is one of the most critical measures to making an income created from your blog at the end of the day.
A niche is only a certain set of similar topics (market segment), on which you want to specialize your blog as a trusted tool. Examples of extremely lucrative niche subjects, such as: Photography Designing Design Parenting Personal Finance Career growth In selecting a niche, the sky really is the limit. When you have a subject that has enough interest — and you really want to create a blog company around it — then you have a potentially lucrative niche. See my guide for more: How to pick a Blog Niche About (+ Examples).
The reason for choosing a niche is that the way your blog works as a company is heavily informed by the niche you work in. It is only after you have landed in a specific niche that you can identify your audience and learn more about it.
Know about your customers The next significant business decision after your niche is to decide who will be your target market and to learn more about it.
In a world with billions of Internet users, the fact is that not everyone will discover or even engage with your blog, not to mention that they will buy something that you sell when you actually start monetizing your content.
You must study and consider your audience’s frustration and how you can help them with your blog.
Find your readers’ demographics and psychographics: stats: the objective features of your readers. Like age, sex, place, title of work.
Psychographic: More unmeasurable attributes, such as values, desires, behaviors and beliefs.
In summary, who are your target readers and what are your problems?
The answer to this key question also helps you to determine the content you are going to create and the best channels to monetize it.
Determine how you’re going to pay for your blog There are various ways to make money blogging, but it is important to note that only your blog will produce income — once you’ve begun attracting people.
It helps today to consider how you want to monetize your blog (ideally in ways that include your own specific strengths and experience).
The most widely tested blog monetization platforms include: Supported Blog Content Affiliate Programs Blog Ads offer online courses (like my blogging course and build-to-blog in particular) Physical Goods release a software platform to sell eBooks for own services (e.g. my blogging books) At this point, the most important task is to determine which outlets are ideally suited to your niche, the type of public that you want to attract, and the best way to promote your own interests.
Again, remember that the springboard of your blog will be your audience — so learning from them in the early days will be crucial for collecting valuable feedback on how to help them best. See my guide on how to make money blogging This year for a thorough look at my best blog monetization strategies.
Finally, when you describe your blog as a company, you must set specific business goals to start working towards.
It helps you to break down the bigger picture expectations into tiny tasks that won’t overwhelm you every day and every week.
Setting insightful targets allows you to stay ultra-focused on only doing things that get you closer to these objectives.
Some examples of targets you might consider setting your blog in the first year include: Getting to 10,000 monthly visitors (within 12 months) Working fifteen hours a week to create and promote blog content Attracting 1,000 email subscribers (within 6 months) Earning $1,000 in blog sales (in the first six months).
Having laid the solid framework for your blog business plan, we will evaluate rivals and learn more about how they work in your niche.
2. You need to learn from your competitors before you even launch your own blog (or transform an established blog into an acceptable business).
Yeah, that’s permissible. And no, nothing suspicious needs to be done — or Russian agents involved.
Competitor research and learning From competition and designing a strategy and gain feedback and knowledge from your rivals is a perfect way to test your own ideas on the best way to live a blog business plan.
It’s also a perfect way to know what it takes in your field to succeed. These are the three key things you want to do in the study of competitors.
Identify your key competitors Identify your competitors that allow you to see the value of your blog company in your niche.
Most importantly, it allows you to see clearly how much your audience enjoys and already pays for it (anyone else).
And how do you decide who your rivals are?
Do some keyword analysis in order to assess which of your blog’s top terms and phrases in Google searches