The internet has evolved to be a lucrative medium to make money since the late 1990s. You might have heard about it all the time and you probably know it is. But how do you really make money online, I mean, make real big money online.
The truth is that millions of people try but only a few succeed. Why is this so? Because most people are seeking ways for a get-rich-quick system. But these people are not really to be blamed. Who wouldn?t want to be rich quick?
The hype about making money online overnight have been widespread on the internet that it?s become very hard to tell hype from the real deal. You probably heard about normal people like you and me, making 5 figure monthly incomes. While making this kind of money is very possible online, it doesn?t happen overnight. It involves effort, time and a bit of money. The truth is, the level of online income you make depends on how much and how smart you are willing to work.
So how to really make money online?
If you do a search on Google, Yahoo or MSN or read blogs and forums, you could find lots of information about ways to make money online.
But to make REAL BIG money online, there are only 3 main ways to do it
1. AFFILIATE MARKETING
Affiliate Marketing is the easiest and fastest way to start making money online. If you do not have your products or services to offer, then affiliate marketing is the one for you to get started with.
Affiliate Marketing is a very popular way of promoting internet businesses where an affiliate is rewarded for every customer provided by his efforts. It is a modern edition of compensating referrers with fees for the introduction of new customers to a business.
In Affiliate Marketing, you sell or promote someone else?s product or services. You just need to refer people to the merchant site and get paid a commission once a sale is made.
Promoting products or services as an affiliate have the following advantages:
- Don?t require to have your own product or service
- No troubles with payment processors
- No stock inventories or shipping expenses
- No troubles on treating refunds or returns
- No employees
- No customer service
You just need to drive traffic to the merchant site. The rest is taken care of by the merchant.
Affiliate Marketing is a ?pay-per-action? model. You are paid if the action is fulfilled. There are 2 main types of affiliate marketing models.
A) Pay-Per-Sale Affiliate Marketing
In this model, you, as an affiliate, send traffic to the merchant site in order to help him acquire new customers. You?ll receive commissions when a sale is made.
B) Pay-Per-Lead Affiliate Marketing
In this model, you send traffic to the merchant site in order to help him acquire new leads. You?ll receive commissions when potential customers fill out a form providing their contact information.
The wonderful thing about affiliate marketing is, you harvest a substantial share of the profit on each sale with lesser trouble. And while promoting them, it gives you hands-on experience on how things work in the area of ecommerce, and also get to apply the crucial marketing skills that would bring success in any online business you will be involved in.
2. SELLING YOUR OWN PRODUCTS OR SERVICES
Selling your own products or services, whether it?s physical or digital, is the other way to make money online. You?ll be a more successful Internet entrepreneur, selling your own products or services online.
When you have your own internet business selling your own products or services, you are in control over your business. You can twig and change things to make it more profitable. And in most cases, 100% of the sales amount goes to you.
Another significant advantage is that you are now the merchant. You can have affiliate program to get lots of affiliates to promote your products or services. That?s free marketing for you and only pays them commissions when they make a sale. Even, the internet big guns, like Amazon and eBay, have affiliate programs. They obviously know the value of affiliate marketing.
And as a merchant of your own product or service, you might need to hire employees when your business starts to grow. You also have more overheads, possible inventories to keep if its physical products and you need to have a shipping system in place.
A) Selling physical products
If you have offline business that sells physical products, having an online virtual shop will enable you to have greater exposure to more potential buyers from all over the world.
Even if you do not have a offline business that sells physical products, you still can make huge profits by being in the middle of the wholesalers and online customers. And also you don?t need to stock up inventory as you can use dropshippers to ship the inventory to the buyer.
Your online virtual shop can be on your own website or on mega online shopping portals like eBay and Amazon. The key to secure long term income is to source for in-demand products and sell them at a reasonable mark-up on the price that you yourself paid.
B) Selling digital products
Selling digital products, like eBook or software, is the most profitable internet business you can have. The good point about digital products is that it doesn?t require you to store any inventories as it can be downloaded instantly by customers. The only drawback is that it takes time to create your own digital products and requires good knowledge in your field.
When you are creating your product you will want to be extremely focused and create something of high value so your customers will keep coming back. If you spend some time planning and learning what your market wants and then give them the solution to their problem you will become very well respected in your field and it will help you make a whole lot more money than your competition.
Your goal is to make sure you are marketing to a market that has enough customers who will spend enough money so you can make a good income from your product launch. Keep in mind that if you are going to have any success in your internet business, you need to have a very high quality product to be able to sell copies of your product.
C) Selling your services
If you have specialised knowledge or skills like writing, copywriting, editing, transcription, website design, graphic design or computer programming, you can sell your services for a handsome profit through online freelancing.
Services such as Elance advertise outsourced remote working opportunities on behalf of thousands of businesses and companies looking to outsource the jobs they can?t or don?t want to do. It allows members to sign up to assignments according to their desired criteria. Depending on your skills and availability though, there is a lot of money to be made selling your services.
You can also market your specialised knowledge or skills through your own website or blog. The key to secure long term success is to provide excellent value and service beyond the customers? expectations.
3. SELLING ADVERTISEMENTS
The third way to make money online is through selling advertisements. The internet is the world?s greatest advertising medium, better than TV, Print and the Radio.
And Google is a perfect example for that. They make billions in revenue every month by allowing other website owners to advertise on their search result pages through a program called AdWords.
There are two ways to make money through advertisements. You can do it by earning commission from contextual advertising or advertising banners placed alongside your website or blog.
Contextual advertising is using ads based on the page content of the website or blog. The ads shown will always be relevant to the page contents. An array of third party tools is available for contextual advertising, but Google AdSense remains one of the more popular choice and easiest to use.
Through Adsense, you can earn a share of the revenue that Google earns from AdWords by displaying the same text ads on your site. In other words, you?re helping Google advertise and they pay you a percentage of what they earn.
You don?t have to have your own Web site or even figure out how to set up the advertising. At Blogger you can set up a blog for free in less than five minutes without knowing a thing about web design. Blogger even automates setting up Google AdSense so you can make money off your blog by displaying ads and getting paid when people click on the ads.
Banner advertisements are also a great way to promote products. Affiliate programs have banners that are designed especially for their affiliates. They come in different sizes to better fit in the website or blog.
If you can generate high traffic to your website or blog, internet business will be waiting in queue to pay you to have their banners on your site. You can earn a handsome monthly income by charging a premium amount to have their banner advertisements in your website or blog.
These are three main ways to make real big money online. However, the real key to successfully make money online is to get massive traffic to your website or blog. You can have the most beautiful website or blog. But you?ll never make a single cent, if there are no visitors.
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