First things first if you want to earn money from blogging, you should begin by writing above average quality (in other words real human), content rich posts on both your own blog or blogs, and of course you should carry out research on other popular blogs within your niche, and comment on those too.
Something to avoid is the use of comments that can be flagged or seen as spamming. So your comments should show you actually read the blog, and your comment is related. To monetize the first place you can start, is by adding Advertising, by far the easiest way to do this is by getting an account (you may already have one) with Google AdSense. AdSense is just about the fastest and easiest way to do this.
If you are creating a blog in a market that pays over $2 a click for AdSense, then this could be extremely lucrative for you. If you don't have an account yet, visit and sign up. Once you have signed up you can add AdSense ad blocks to your site in strategic locations. Depending on your blog software you can add some tags into your own postings too.
Another excellent way to monetize your site is by researching for products that you can recommend or advertise to your users for which the product maker or another source (for example Clickbank or Commission Junction) will pay you an affiliate commission per sale. Putting the quality of your content together with carefully selected advertising for highly relevant products (yes don't think you can sell Dog Training Course to people looking to Quit Smoking), will see your bank balance steadily grow. The importance of Search Engines and Content.
If you didn't know it already you should memorize this - Search Engines love fresh original unique content (they quite like duplicate content, but not as much as original). If the content is part of your blog first, the search engines will rank you first. Google, Yahoo, MSN search engine bots crawl the web and are looking for any new material or content that appears on your site.
Something else you will want to do is not to rush, and create hundreds of posts, rather start slowly and work towards building backlinks (they will come from posts on other related blogs, or from exchanging links with the blog owners or related blogs). Posting comments on their blogs will start to help you to appear as an authority in your market, and that is something you will need over time as you build not just a blog, but a business.
Chris Egan explains in simple words just how to make money blogging on his home page: http://www.youblogformoney.com
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