A topic like Make Money Online attracts attention and in fact as a keyword is searched 155,000 times per month, so it is also a fairly competitive keyword. There is a great appeal because it promises so many things:
- work from home
- work anytime, anywhere as long as there is a computer and internet connection
- freedom of time to be with your loved ones
- doing what you love
- very little start-up capital required
Best of all, some promise an easy way to create a source of passive income. I have been researching, taking courses and building websites so that I can make money online for the past 6 months or so, albeit part-time and whenever free and feeling like it! Therefore, let me share with you the hard truth.
The Dream of Financial Freedom
Many websites, Facebook sponsored Ads and courses promise at least a dream that you will make good money after joining their programs or attend their courses. I can appreciate that Ads, landing pages, squeeze pages need to attract and appeal. The story they are selling must immediately grab your attention and they are targeting people who are burned out from their jobs, people who are just retrenched, people who want more freedom of time etc.
Before you fire your boss (tagline used by some), please believe me that there is no such thing as get-rich-quick program. You get rich striking big from lottery, inheriting a fortune from your rich relative, or may be steal from a bank.
I am not saying all courses out there are scams but anyone who promises huge returns without much work, you smell a rat and please open up your eyes wide. If it is a training program, I always question the motivation of the trainer why they would like to impart their knowledge if they have found the perfect system to make a lot of money. I have reviews of good programs if I come across them.
Be sceptical but have an open mind to learn new skills and knowledge. The most important thing, however, is to manage your own expectations. Any venture and project takes time to nurture and with an online business, it simply takes time as well! You are building a business, remember that.
Ways to Make Money Online
There are probably a number of ways to make money online:
- doing online surveys
- paid to click through websites
- ebay sales
- online trading
- affiliate marketing
- ecommerce website for physical products which you sell
This is probably not an exhaustive list and I am assuming we are referring to individuals trying to make money online, and not the big enterprise organizations.
I have not tried 1, 2 and 3 myself and online trading probably should be classified under investment or trading.
This website is mostly about Affiliate Marketing and sometimes I do talk about value investing as it is a passion I have and it is another source of income generation. Affiliate Marketing is basically having a website and promoting products from other vendors and getting a commission out of it.
One key common element of 5, 6 and 7 is an online presence, and you want to somehow create awareness about your website and generate traffic to your website and convert into sales. I have written other articles on Keyword Research, SEO and Google Ranking which I invite you to browse around.
I want to focus here on whether you can actually make money online.
Monetizing Your Website
To make money online, you must first have traffic. And then your website visitors must buy something, what is known as the sales conversion.
If you are doing affiliate marketing, the two primary ways to driving traffic is keyword ranking and Pay-Per-Click (PPC) paid ads. There are however many other ways to generate traffic, like you can always supplement this with social media sharing through Facebook, Instagram, Twitter, LinkedIn, G+ etc and also build a Facebook page and do Facebook advertising.
In addition you can create a YouTube channel and create some interesting videos. You can also participate in forum discussions, join some Facebook groups on your chosen niche and promote your website for free.
With associated traffic, and if what you are promoting is compelling, there will be sales conversion and that’s how you make money online! PPC is surely going to get you traffic but you need to be careful to ensure what you invest in ads gives you the right yield.
If you do affiliate marketing, you will link to the vendors’ sales pages for sales conversion.
When you have your own products to sell, you are the vendor and the product house.
There are bloggers who don’t do affiliate marketing, and one way they monetize their website is Google Adsense. To get Adsense approved, you first must have a great website with solid contents though. I know of food bloggers, lifestyle bloggers with lots of readership followers who monetize through fees paid by merchants to “endorse” or “review” their products.
Blogging and Content Building
I can’t emphasize enough that your key online asset is the contents you build which comes from your blog posts if that’s how you choose to structure your website.
PPC may be effective driving instant traffic but you want to build a loyal following who counts your website valuable for the particular niche. That you are constantly updating your contents or posting new contents.
Contents are important as an asset as well as for SEO and website ranking. I do personally feel that for people who like writing/blogging and who have chosen a niche they have keen interests in, passionate about or already engaging as a daily routine, they are going to enjoy the journey of making money online.
The route is not a smooth one. Often you read of people who are already successful, but behind that success, I am pretty sure they have gone through much struggle. It may take three months or six months for you to make that first sales. Perseverance is key, so stay motivated and you know this is real!
I leave you with this YouTube video of an interview with Pat Flynn, a successful internet marketer whom I have mentioned before and he has a different story. The video is a bit long but I want you to know making money online is real but it takes efforts and time.
As usual, please drop me comments and suggestions.