Monetizing any website, is a journey. It’s unrealistic to expect that you can make one change to your website and it’s going to provide you with the best possible results. The best way to approach monetizing a blog, is to focus on helping people.
As an example, let’s use a Photography blog. People visit the blog because they want to become better photographers. To get someone to visit this blog, you need to provide them with lessons, motivation, inspiration and so on. Now, the same applies to when you monetize a website. A reader wants even better ways to improve their photography, whether that is with better equipment or with even more training, either way, there is an opportunity to make money.
If the readers want better cameras or better equipment, you can promote other companies products and receive a commission.
If the reader wants better training, or more advanced training, again, you can promote other bloggers products, or you can create and sell your own.
I often think, the best websites are the ones that you can’t even see how they make money. And by that, I mean, you can see no visible advertising. Monetization doesn’t have to be obvious, in fact, I find it converts best when no one knows it’s there at all.