Why do you need a business plan for your blog?
If you are serious about your blog, then it is important that you have a business plan. Having a business plan basically keeps you on track with your vision for your blog. It is important that you review your business plan regularly in order to achieve your goals as a blogger.
What are the benefits from creating a business plan?
- It shows that you are serious about your blog
- It shows that you know what you are doing
- It helps you to keep track of what strategies work best for your blog
- It helps you to budget and prevents you from overspending unnecessarily
- It gives you a clear vision of how you will expand your blog
What do you need to include in your business plan?
Blog Summary – In this section, you will write a clear summary of what your blog is about. Also include any partners that are involved in the blog and how they contribute towards the blog.
Vision Statement – What made you create your blog? How can it be beneficial for an audience? Where do you see your blog in the future?
Goals – Write a list of goals that you have for your blog. Set a timeframe for you to complete these goals so that you are more likely to complete these goals. Include both short term and long term goals.
Plan of Action – What are the steps you need to take in order to achieve your goals?
Target Audience – Who are you writing for? What is your target audience’s age group and gender? What type of images will you use or what kind of tone will you use to communicate with your readers?
Monetization – Which methods of monetization do you intend to use for your blog? Which methods have you tried? Which methods would you like to try? What worked best for your blog? Which methods would you prefer to avoid and why?
Blogging Schedule – What is your posting schedule? Do you post on a particular day or time? Do you post a certain amount every week or month? Are you consistent when publishing your blog posts?
Products – Make a list of all products you intend to sell on your blog. Include item descriptions, pricing information and how you will advertise these products on your blog to get them noticed by your audience.
Services – Write a list of services that you will offer to your audience. How will they benefit from your services? How much do you charge for your services? What sets your services apart from the others?
Marketing Plan – What is your marketing strategy? How will you tell the world about the products and services that you can provide to them? Are you going to use paid advertising? Where do you think is the best place to advertise, in order to reach your target audience? How much are you willing to spend on paid advertising?
Social Media – Which social media platforms do you currently use? Do you plan on using any other social media platforms? Which one works best for your blog in terms of getting more traffic and interaction? What are the specific image dimensions for each of the social media platforms? Write these down as a reference.
Membership Subscriptions – What kind of premium content do you provide to paying users of your site? How long is the membership for? How much does it cost to become a member? What are some of the benefits from becoming a premium member?
Affiliates – Which affiliate programs is your blog participating in? Write down every program and commission amount that you will receive from every sale. How do they fit into your brand? Are there any other businesses that you would like to go into partnership with? How do you incorporate these affiliate links into your blog? Do you advertise a clickable image displayed in your blog’s sidebar? Do you include them in text-links within your blog posts?
Advertising – Which adverting programs are you involved with? For example, Google Adsense. Where do you place these advertisements? Do you place them in your blog’s sidebar or within your blog posts?
Your Competitors – Who are your competitors? List 5 of their strengths. List 5 of their weaknesses. What sets them apart from the rest?
Budget – Write down a list of all the expenses that your blog requires. Include the costs of the maintenance, hosting, domain name, advertising/promotion and membership fees (eg. Boardbooster and Tailwind etc etc).
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