The financial case for blogging

Yesterday we examined the business case for blogging. The other set of benefits of blogging are financial; not in the sense of earning money by blogging (although that is possible) but the benefits of blogging over other forms of communicating with the same stakeholders.

A decent blog should be getting an audience of at least 250 readers a day and often hit 500.

We've made a number of assumptions here (and this is largely meant to be thought provoking).

• a blog takes an hour a day to write
• this chief executive is paid £100,000 per annum
• our consultancy fees are included
• a redesign is necessary
• the blog is hosted externally

Based on this, a blog costs a maximum of £2000 per month, or 27 pence per reader.

Alternatively:

• If you had a daily newspaper column in a high circulation national newspaper, you would have a larger audience at a cheaper price.
• If you were on the Today programme each day, blogging wouldn't be worth it
• If you addressed a conference of 500 people, blogging would be more cost effective
• If you sent an email newsletter each day, blogging would reach more people
• If you brought billboard advertising, radio advertising or a TV spot, blogging would still be cheaper
• If you brought keyword advertising on search engines, blogging would still be cheaper

Some people have alternative access to a significant audience every day at a low price. If you don't, blog.