Are you aware that 95% of those starting internet businesses fail? And that the main reason is that they launch their money making venture without clear business models?
Tempted with the promise of quick and easy money, no experience required, people wanting to make money online come in droves. And they fail. Without a clear business model, you will, without doubt, fail.
I have gone over to many business models and found that there are basically 4 models that you can pursue. And these are the top ways of making money online:
1. Affiliate marketing – You get a commission from every sale of the product you promote. Sounds easy. But many failed following this route. Why? There is no plan. Who are your buyers? How do you attract them? How is the competition? And many more questions have to be answered. I talked about this extensively in the article 6 steps to money making affiliate marketing. I make money from home thru affiliate marketing.
2. Adsense – Advertising program invented by Google where a website display ads from Google’s advertisers. Very easy to start. Put up a website, write content, say 5-6 articles, then sign-up with Google. A publisher ID will be provided to you. You can then put the code provided by Google in your site.
When a visitor clicks the ads, bingo! you make money. How much? It varies from $0.01 – $87. Your eyes popped? $87. Yes, that’s for the keyword mesothelioma attorney utah. But don’t get fooled. Google’s technology called smart pricing insures that unknown sites don’t get that much per click. You can check the cost per click by using this link :
The strategy here is not to pick very high paying keywords. Well, those keywords have only a few searches per month and the chances of those visitors landing to your site are next to nothing. Personally, I target keywords within the $5-$10 range. I then put up a website targeted for those keywords then drive traffic. Then repeat. Make as many websites as you can targeting a different set of keywords. The more sites, the better. It would be easier to earn $600 per month for 20 sites (equivalent to $30 per site) than making $600 for one site. Unless you’re a stevpavlina.com site which is earning thousands.
The key to higher Adsense earnings is tons of traffic. You can tweak and tweak your adsense ads position, colors and whatever, to your heart’s content but it won’t matter much if you only have a handful of visitors. I have one site which has a 40% CTR, but because of the very low traffic, that site won’t make me rich. I have sites doing well with only 1-5% CTR but the traffic is enormous.
How do you drive traffic to your site? I have identified 4 sources of traffic namely:
a) Search Engines
d) Social Sites
In my experience the best adsense converting traffic is that which came from the search engines. The chance that visitors click the ads is high if they come from Google, Yahoo or whatever search engine.
Those coming from the social bookmarking sites like digg, stumbleupon, reddit and a bunch of web 2.0 sites have an extremely low CTR. You’ll have to employ a different monetization strategy to profit from web 2.0 traffic.
3. Making your own digital product. An ebook or a downloadable audio. I figure this would a big strategy considering the hundreds of possibilities for the type of product that you can make. I haven’t personally tried this money making route.
This is the strategy followed by the big guns in internet marketing. They who make millions a month. Armand Morin gets $300K a week. Andy Jenkins and Brad Fallon earned $12M? or even higher when they launched StomperNet. Shawn Casey sold 100,000 copies of his $47 ebook “Mining Gold on the Internet” Mike Filsaime made $1M in less than a week with his Butterfly Marketing.
There are literally hundreds of niche markets that you can write about. Don’t just look at the make money online market. This field is full of smart, shrewd and experienced marketers. It’s extremely hard to compete with them.
Ha you tried the personal development niche? or the health market? These two areas alone would bring you a sizable amount of monthly income. There are still hundreds of niche topics which have not been explored or discovered by internet marketers. Why not start with your area of expertise? You can try the keyword tool to search for these.
4. Advertising/Sponsorship – Another easier way to make money at home. Set-up a website. Put contents. Drive Traffic. When you have consistently attracted hundreds of visitors per day, advertisers start to come in.
Engadget, Boingboing, Gizmodo, Techcrunch, Lifehacker are technorati’s top blogs drawing in hundreds of thousands of visitors daily. Engadget has more than a million pageviews daily.The main business model of these high traffic sites is selling advertising space and sponsorship. Some high trafficked sites have CPM as their monetization model. With CPM you get a few dollars per thousand impressions. It could range from $0.85-$3.5 per thousand views. Errand Services
With the mushrooming of social bookmarking sites, I think your traffic should not be limited to less than a hundred per day. You can try experimenting with some of the social bookmarking sites and see the sudden surge of visitors to your website.
There are still dozens of ways to make money online, there’s the Amazon. Chitika, Kontera (ditch this one!-very low paying), there’s the Reviewme,Textlinks, Payperpost, but what I am zeroing in on here are the most popular make money makers.