If you want to start an online magazine, it may be important for you to understand how you can make money with it. While I do not have a print magazine, M3 is a digital magazine with multiple revenue streams.
I love telling people about what I do at Miss Millennia Magazine. It does come with a bit of explanation about how it all works. I get questions like:
- What did I have to learn to start it?
- Do I work on it solo?
- How much time do I dedicate to it?
If you want to know more about how I got M3 started you can check out my post on my journey to entrepreneurship.
But there is one question I frequently get, way more than the other questions combined. “How do you make money with an online magazine?”
I'm going to be honest, the magazine has not made me a rich woman. But in the past, we have earned as much as $7,000 in a single month. In this post, I'd like to give you a peek into how Miss Millennia Magazine makes its income.
Let's start with our number one money maker: sponsored posts. Sponsored posts are when we make an agreement with a brand to write an article or post on social media about them.
This agreement can consist of giveaways, photography, videos, social media posts, and sometimes even attending an event. As our reach has grown, so has the price of each campaign. Over the years, we've made anything from $200 to $2,500 for a single campaign. Not a shabby a way to make money with an online magazine, IMO.
Regardless of our agreements with a brand we always stay authentic to how a product or service performs. We actually have a rule to give just as much helpful content in a sponsored post as we would in any organic posts.
As a matter of fact, if you saw a lineup of some of our article titles, I bet you'd have a hard time discovering which are sponsored and which are not. (That is, until you see the disclosure in the beginning.) Sponsored posts probably make up around 20% of our overall content.
How do you get connected with brands?
Ah, good question! Mostly through media companies who let us know about brands who are looking for blogs that look like ours. Some of our favorites include:
There are a TON of other sponsored post companies you can apply to. I actually have a list of over 100 below.
But if you want to save time and get only the BEST opportunities ranging from $50-$5,000 each, I highly recommend you sign up for my newsletter that delivers sponsored opportunities to your inbox three times a week!
Interested in how you can make some serious dough with sponsored content?
You should join my online program called Blogging Money Formula!
Blogging Money Formula is an online course that shows motivated bloggers how to go from making a few (or no) dollars to making consistent money with their blogs every single month. I show you how to set up the foundation you need to be able to make REAL income with your blog that will make a difference for you and your family in the long run.
The program will teach you:
How to establish yourself as a professional blogger: I’ll show you everything your blog needs to be recognized as a professional blogger.
How to properly apply for sponsored posts so you get selected for more opportunities: I will show you step by step how to apply so that brands choose you more often!
How to get brands to reach out to you: I’ll show you what you need to set up on your blog so that brands reach out to you, as well as where to go to put yourself on their radar.
How to build long-term relationships with brands: This way, you can get recurring business with brands instead of having to pitch new ones all the time.
How to write content that appeals to your audience and the brand: Because great content does not need to be either-or!
How to drive traffic to your blog posts: Great results produce repeat customers, and I will show you how to make that happen.
BLOGGING MONEY FORMULA HASN’T LAUNCHED YET, BUT YOU CAN JOIN THE WAITLIST HERE AND BE THE FIRST TO FIND OUT WHEN IT DOES!
This is the way many people assume we bring in income, and they are correct, but it is not a huge earner for us. We work with an advertising company, Mediavine, that sources and adds different brands to our ad spaces for us. And depending on the brand, our income for ads can really range. We typically make a few hundred bucks from advertising, but it can vary between $50-$3,000 dollars a month.
Advertising can consist of us receiving banner ads to display on the sidebar of our site, brands wanting to do an ad on our Bloggers Supporting Bloggers Facebook Group, or brands wanting to be featured in an article that is already written on our site. There are also video ads, native ads, and other ads you can do on your site. I am just grateful that Mediavine covers all of these different types.
Our favorite part of this process is how passive it is for us to manage. We do not really look for brands to work with in regard to advertising. They typically come to us. However, this is something we are working to change.
We've recently gotten more into the habit of securing ad space one brand at a time, which can be more lucrative for both you and the company since they get more exposure and we typically get paid more. I am still venturing into how to make a system out of this new process.
Products are another great way to make money with an online magazine. While this is a fairly new way to bring in income for M3, products currently bring in anywhere between $600-$3,500 a month for us.
While it can be difficult to determine which products will actually money for you and time-consuming to create, they can be very rewarding.
Once your product is created, all you have to do is create a marketing funnel for people to buy it and watch the money roll in, almost on autopilot. If your goal is to quit your job one day and only have income with your blog, creating products is the way to go to get there!
Lastly, my love/hate relationship that is affiliate marketing. Affiliate marketing is when you promote a product that says they will pay you if, and only if the readers clicks, buys, or signs up for that given product. Right now, we earn anywhere from $50-$1,200 a month with affiliates.
The benefit of doing affiliates is that you write an article with links in it, and so long as the article gets traffic, you earn income. SIMPLE! The best part of this is it can be passive too. Most of the work is done upfront, and the rest is just making sure it is seen.
I've recently taken a course on affiliate marketing by Michelle Schroeder-Gardner called Making Sense of Affiliate Marketing which is SO GOOD. This is the way to a long-term affiliate strategy. We add affiliate links in many of our organic posts on the site, and we especially make sure that our viral posts have affiliate links.
It took a long time for us to see affiliate income and when we did get it, it was hard to continue earning it every month. We don't make a ton of income from affiliates, but we are so glad to see some progress! We know in due time that it will grow. We hope that this will be a substantial way for us to make money with our magazine in the future.
Where Do You Find Affiliates?
Another good question! I go through affiliate networks. These networks are filled with well-known companies who are willing to pay you in exchange for getting sales from your audience.
A few networks we're on include:
So there you have it! Our overall income strategy for M3. While these are our ways of making income now, it does not mean that these are the only options we will ever have for affiliate earnings. Check with us in a year, and we may have new strategies!
Interested in creating your own blog now? Check out my step-by-step article on how to set one up!
What do you do to bring in income from your blog? Do you have other questions on how to make money with an online magazine? Let us know in the comments.