Yahoo I'm on MyLot to enhance my blogspot blog so I'll pop up in Google, Digg?

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I'm not new to blogging, but I am new to trying to monetize my blogging. I used to write only about the things that interested me, but I find that is not the most lucrative way to use my blogging time. I'm looking for suggestions on how to attract more people to my blog, but more importantly on ways to keep them there. While checking the google analytics for my site I found that 85% of the people that visited my site were coming to read one story and leaving. Obviously, this isn't a good trend. How can I make more blog more eyecatching, interesting, addictive or whatever it takes to get readers to read beyond page one? What has worked for you? What were your biggest missteps or failed ideas? THANKS EVERYONE IN ADVANCE - TJ