Let's consider that you have established a blog. It is popular and you are generating steady and regular traffic to your blog. But utilizing this traffic to generate revenue from your blog may need strategic thinking. The ‘Pay per Click' option does not always guarantee money and you must adopt an innovative way so that your readers are not crowded by a number of advertisements every time that they visit your site. The approach must be creative and at the some time generate interest among your readers.

Some innovative ideas of generating revenue through blogs could be:

Direct sponsorship from companies: Cut off the intermediaries and contact directly with the companies. If your blog is relevant then companies may be interested in advertising for their newly launched product directly on your website. You can work out some arrangement where the first reader to click on the new product gets a certain discount on a product. This will also ensure reliability and credibility of your website.

Making use of Affiliate programs: Large companies like Citibank, Amazon, etc. run affiliate programs with websites and blogs. This can also be a steady source of income from your blog.

Fund Raising: Help people donate money or goods for a good cause through your website and earn some mullah by the side. It's simple. In most cases, all you need is to have a space in your blog wherein people can enter a value and hit a button so that the money is transferred to the relevant cause once the user shares the basic money transfer details. This is becoming more and more popular among serious bloggers.

Diversifying: Once your blog earns its name, you can think of diversifying – something as simple as creating customized merchandises reflecting your blog, its nuances and quirky facts. You could design and create mugs, caps, T-Shirts etc and raise money by selling those.

Selling Blogs: Just as people have raised money by selling domain names, many have made good fortunes by selling off their established blogs to renowned companies. You can then move on to a different blog and share your expertise there, earning compensation in return.

Spreading the good word: You can use your blog and your readership to popularize an event or a cause. Reaching an agreement with the relevant parties, where your blog is used to sell an idea or a product can be a lucrative business proposition.

Share your knowledge: Share your learning and your knowledge with the rest of the world. Write a book on your experience of blogging, your advice and tips. Take part in seminars and give lectures to wannabe bloggers. Write in different online and offline forums and earn from sharing your knowledge.

Remember, there is no shortcut to success. If you are good, it will always be easy to generate money from your work – but if you lack the necessary skills to be a successful blogger and thereby generate revenue then probably this is not the field for you. Blogging is easy and fun and needs almost zero monitory investment – but the key lies in your ability to do it well.