If you need sponsors to monetize your blog, KNOW what they're looking for!

sponsor - a person, fund-raising group or commercial organization that provides funds for an activity such as advertising, putting on a concert, sporting event, etc.; 

In the Blogging World sponsors will "pay" you a percentage or a flat fee for an advertising spot on your website. What they are looking for is to target your reading audience in the hopes to get brand recognition, awareness and more sales.

To attract sponsors, your blog needs certain key elements:

-must be family friendly
-must have a steady readership /followers
-must be visible in Google or Alexa
-must have an well organized layout
-no directories, link exchanges or hidden pop-ups /pop-unders
-current, relevant, authentic content
-must have social media access
-no excessive or conflicting advertisements
-regular content updates

There's a few different ways to implement sponsors into your blog:

-display banner or advertising graphic(s) for a monthly fee
-write a personal review of sponsor's product or service
-create short movie of yourself using/ promoting sponsor's product, service or event
-broadcast sponsored links for a pay-per-click return
-use sponsors' affiliate or referral programs to earn commission

Example of  banner or graphic advertisement:

This is usually a graphic logo of the company with embedded code that identifies your blog as the originator of the lead. These codes are generated for you with your member id number and when your readers click on this, they are taken directly to that advertiser's website. The link or graphic your blog reader clicks on to visit the ad, is recorded in your favor and you get paid for it.

Example of sponsored links for a pay-per-click return:

This type of programs don't use graphics or logos. Instead, you choose from a long list of suitable "link" ads and you broadcast the offer or sale via Twitter or by other means. You can sign up for Sponsored Tweets for free but you must first have followers who are interested in hearing what you have to say!

Example of referral programs:

Dear Friend,
I found something that I think you will like. The company's name is YouData (youdata.com). They are trying to convince consumers like us that we should be the ones controlling our own data and selling our own attention, not third parties like broadcasters, newspapers, and spammers. By creating a MeFile at YouData.com, I now control what ads I see and when I see them. Best part - I am selling my attention directly to interested advertisers, for real money. That's right, I get paid for giving them my attention. I can use the funds to buy music and video online, donate to charities, give to my favorite blogs and websites, or keep the change myself and do whatever I want with it.
It's real. They pay. You should check it out.
Click this link to sign up. My MeFile ID, chryssy67, in the "Referral Code" will tell them I sent you.
http://www.youdata.com/join/chryssy67  

Take care,
Chrysoula

When you refer a potential new user or new customer, the company rewards you for bringing them on board. There are many referral programs out there but you will be more successful if you use a service you know & trust. You don't want your referrals to disappear after a week, and you definitely don't want to get the reputation that you're handing out bad information or just in it for the money. Sure you want to make money, but so do your blog readers. So refer them to good, solid programs that you use yourself and tell them why they will benefit from your referral!