How To Make Money Online
Your business should have a blog for many reasons. And making money from it may or may not be a reason. You see, there are lots of ways to make money online and this article will look at some of them. But before we begin: turn down the radio in your car.
Well, not literally. It’s a metaphor, and it’s based on something that most of us do. It happens when we are driving somewhere that’s tricky to find. As we arrive, we turn our car radios down. Most of us don’t even realize that we do this. But when we need to really concentrate on driving, we turn the radio down.
When it comes to making money online there’s a ton of noise - just like when the radio is on. “Making money online” is a pretty popular topic on the internet. This leaves a big trap that a lot of people fall into – they spend all of their time reading about and learning how to make money online, without actually doing anything. They are listening to the noise and not concentrating on what is important.
What is important?
Turning down your radio (i.e. stop spending all of your time reading about how you can make money online). Instead pick one or two ways and then focus your energies on making that work.
Here are some ideas:
Make Money in Online Advertising
Just about any website can carry advertising on it, but the trick is creating a website that people want to visit. That comes down to the content that you produce, but if you have that sorted and you have a good amount of traffic, you should be able to make money by carrying advertisements.
There are two main ways you can do this:
- Sell it yourself – You can go directly to businesses to sell space on your website.
- Use an ad serving service – The most widely used ad serving service is Google AdSense. This is attractive because they handle the selling part, i.e. they get the advertisers. You put the ads on your website and when someone clicks on them, you get paid. You will not get much per click but if you have a lot of traffic it can add up.
Get a Piece of the Sale with and Affiliate Programs
An affiliate program is a 21st century advertising model that can generate more profit than carrying standard advertising alone. It works like this:
- You sign up to a program run by a merchant, often through an agency. Merchants can be anyone from small, independent retailers to big online brands like iPage or Amazon.
- You then post affiliate links on your website, email newsletter, or anywhere else you can. An affiliate link is a link that can be traced back to you when it is clicked on.
- Get traffic to your website or subscribers to your newsletter in order to get people clicking on those links.
- If a person goes on to make a purchase after clicking on your link, you get a cut of the sale. This is typically around 5% but can be as much as 40%.
So instead of making a few cents per click (like in the AdSense program), you can earn anything from a couple of dollars per sale to a couple of hundred.
Get Involved in Ecommerce and Sell Your Stuff
If you make things or have things you can sell, you can get involved in ecommerce directly. This generates bigger profits per sale than advertising or affiliate programs but the biggest benefit is that you are in control. You decide how much your products should sell for.
You have two main options:
- Setting up your own ecommerce store
- Listing your products on Amazon, Ebay, or Etsy
Sell Your Expertise
You can still sell directly if you offer a service rather than a product. You can do this through your own website or you can create something tangible for people to buy, like an ebook or series of video tutorials.
In addition there are some specialist online services that you can use as well:
- Google HelpOuts allow you to charge people for your time and expertise
- Or you can use one of the many freelance platforms to offer your services as a freelancer. Popular options are Elance, oDesk and Fiverr.
Use Your Marketing Skills to Sell Other People’s Stuff as a Reseller
A reseller fits somewhere between being an affiliate and selling your own stuff. As a reseller you have some control over pricing and profits. And when people make a purchase they will be doing it on your website, so you handle the transactions.
But the product is delivered by a third party. The iPage reseller program is a good example. It allows you to become a web hosting provider but without any of the technical setup or infrastructure – iPage handles all of it. Your job is to market your service and make sales.
Another example is drop shipping with services like Doba. You list and set the prices for your products and then make sales. A third party handles the inventory and shipping.
How To Make Money Online
There are endless opportunities to make money online. You need to decide which best suits your area of expertise, your skill level, the amount of money you have to invest, and the amount of time you have to invest. And most importantly, remember that you don’t need to go to 11. Dial the radio volume down a notch and focus on what makes the most sense for you and your business.