Let’s be clear from the beginning. Both options are good, and there are millions of companies on both sides to prove the models are profitable. But, as you’ll notice through this post, one of them is better in terms of money earnings.
We’ll assume Joanna is offering web design services on her business blog, and Monica is selling ebooks teaching design for the Web. They can both offer services and products at the same time, but that’s not always easy to manage and not many bloggers will do it. So for the sake of simplicity, let’s skip this option.
What’s considered a ‘service’?
When in exchange for money you do some kind of service on behalf of a client. This includes developing websites, online marketing consultations, creating software, house painting, doing haircuts, you name it.
And how about a ‘product’?
That’s when you sell something tangible, a product your customers can use themselves to perform a specific task. For their money, you can send buyers ebooks, courses, mobile apps, cookies, shoes and so on.
Why is one better than the other? And which one?
When you offer services on your blog, your potential profit depends on the time and effort you and your team can afford to spend working on the project. If Sandra is designing a website alone, she’s limited by the number of working hours, and though we’d all want that, a day cannot last longer than 24 hours no matter how hard we try to extend it. (Do not overload yourself.)
On the other side, the potential profits from selling products on your blog depend on the number of people who buy them, which in the best-case scenario would be the whole wide World. If Monica’s ebooks are top quality and she markets them well, she can potentially make millions (the accent is on potentially :)).
Yes, Sandra can keep hiring more web designers on her team if the demand for her services increases, but recruiting, training and managing these people is usually more complicated and expensive than simply producing more products.
Money may not be the main motivational factor for many bloggers, and that’s completely valid. As we’ve said many times before, being satisfied and loving the work you do is crucial for your happiness in life. So if Sandra just wants to design she can definitely earn herself a good living if her works are good. But if she decides to write, and spends the next month or so writing a top-notch ebook on a popular web design topic, she’ll not only increase her revenues in that particular year, but this product will potentially bring her profit in the years that come without significant effort and expenses.
Bloggers who are still considering monetization are advised to read:
Those of you who already offer products and services on your blogs should probably evaluate your existing strategies to maximize your profits on the long run.
So how about you blogger babes?
Do you offer products or services on your blogs? Or maybe both? What’s given you better results in terms of earnings? Share your thoughts in the comments below…