In this video Gary Vaynerchuk answers how to monetize your blog or video blog with a practical illustration.
Of course you need to have at least some traffic to pull in advertisers – but once you do, if the advertisers are not coming to you yet – go to them.
PS: this actually works. When I started my first camera blog I couldn’t attract big advertisers like Canon and Nikon – so even in the early days when I just had a few hundred readers a day I began to contact local and online small businesses with a photography focus. I was amazed at how many of them were willing to buy advertising. The money wasn’t massive but land a few of them and it adds up.
The beauty of this is that as your traffic grows you’re able to charge more to these advertisers (give them traffic and many of them will stick with you). It also shows other advertisers that you’re attracting advertisers (which can stimulate new advertising).