Recommendations from the Pros: How to wisely invest in your blog

If I have X amount of dollars to spend on my blog, how would you recommend I spend it?

That’s the question I posed to a couple of the blogging giants recently.  I thought you might benefit from their helpful responses as much as I did.  After you’ve read what they have to say here, you’ll want to check out both of their blogs for even more information and tips on running a successful blog.

Alex Frasier of Blogussion

As busy as he is, Alex was kind enough to take a few minutes to answer my question.  Alex says:

The only things I would buy for my blog are:

Alex also referred me to his list of tools and products that he uses with his own blog.  You can check out that list here: From Planning to Earning.  It only requires an opt-in to access the list and this e-course is well worth your time reading!  Get all kinds of tips and advice for getting your blog off to a successful start (or for restarting it successfully)!

Daniel Scocco of Daily Blog Tips

Daniel’s response is a bit more specific as I had given him the specific amount of having $1500 to spend on starting a new blog.  Even if you don’t have the kind of money to invest, his response is well worth reading as he does a great job of listing the things that are a priority.

First of all I would recommend you to spend part of that money purchasing a good domain name. As a rule of thumb, look for something with 2 words, a .com extension, and with some branding potential. If you are going to start a soccer blog, for instance, think along the lines of SoccerHub.com, SuperSoccer.com, SoccerNation.com and so on. If you spend enough time looking around and negotiation with the domain owners you should be able to acquire a domain like these for $200-$500.

After that I would recommend you to get a decent hosting plan (such as Blue Host), install WordPress, and purchase a premium theme (which costs around $50).

The third step would be to get a logo for your blog. Investing in a good logo is important because it is a cornerstone of your online brand. A resource I like to use for my logos is 99designs.com. You basically create a logo contest there (for around $300), and designers will come up with concepts for you. You can give feedback and suggestions, and after one week or so you pick the logo you like best. It works like a charm, and the quality of the work is amazing.

We have spent a total of $860 ($500 for the domain, $10 for the hosting plan, $50 for the WordPress theme and $300 for the logo), so there are $640 to go.

At this point you could either use that money to purchase some traffic (e.g., Google AdWords, sponsored reviews and banner spots) and kick-start the traffic on the blog, or you could invest in an email marketing solution (e.g., Aweber.com) to start an email newsletter right away. You’ll want to have a freebie to give away to your subscribers, too, so part of the money could be used to produce an eBook, for instance.

What about you?  What blogging resources or tools have you found well worth your investment?  Share in a comment below!

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