Whether you rely on blogging as your main source of income or merely as a means to earn extra cash on the side, you may be wondering how to appropriate your profits. Reinvesting is often a good option, but if you decide to reinvest, how do you do it? Simply put, it comes down to what you’d like to improve about your blogging experience. Here are a few ideas to get you started:
1. Upgrade Technology and Software
Regardless of your level of activity in blogging or social media, it never hurts to streamline the time you spend generating income. A tablet PC or smartphone are both great options for getting work done while on the go. If you use WordPress for your blog, there are a variety of upgrades available as well. You can invest in paid plugins to extend functionality, or you can pay for a premium or custom theme to improve your site’s look and user experience.
2. Get Promotional Items for Your Readers
In order to expand your blog’s presence and overall popularity, consider reinvesting some of your profits in giveaways for your audience. This has the potential to greatly improve participation and engagement from your readers. The prize could be as modest as a few inexpensive gift cards, or something more significant, such as a new iPad. If you choose something pricey, stretch out the time frame of your marketing initiative to get the most bang for your buck.
3. Hire Other Freelancers
As your blog expands, you may find yourself struggling to keep up. In order to maintain your momentum, invest some of your profits in a social media specialist, or outsource to freelancers a portion of your content production. Two good places to look are the websites Guru and Freelancer.
4. Invest in Yourself
Are you completely satisfied with your blog posts? Do you struggle to find a way to gain more followers? If so, consider investing in yourself. There are plenty of classes and webinars offered through websites like WritersDigest and Mediabistro on how to improve your writing and better market your blog. In the ever-evolving world of online media, keeping up with new strategies is key.
Deciding how and where to reinvest profits is an important part of expanding your online presence. If you’re talented enough to gain revenue online, it’s important to have a plan for that revenue. In order to make an informed decision on where to reinvest, take the time to identify what you’d like to improve and thoroughly explore your options.
How have you reinvested your blogging profits?
About the Author:
David Bakke is a contributor for Money Crashers Personal Finance, a popular blog that discusses topics such as money management, small business, lifestyle, and technology.