I’m back with another lesson in trying to get out of the rat race. FYI, I’m still in the rat race, but I want out!
There are a ton of ways to make money online, but in the past year, I’ve really only had experience with a couple and that’s what I’m going to talk about.
First off, there’s Google adsense. What’s that? You never heard of it…. Well, it’s really simple. If you have surfed the web, then you’ve seen adsense ads on webpages. They are the ones that usually say “Ads by Google.” This has got to be one of the easiest, although really slow, ways to make money. If you write a blog or own a website, you can place adsense ads on there. Google pays approximately 68% of the CPC (Cost per Click) for the keywords located on that particular page. Basically, in a numbers perspective, if you have a keyword that has a CPC of $1.00, you get $0.68 if someone clicks on it. I don’t know how they manage it, but you can’t go and cheat the system either. That means that you cannot click on it yourself several times or have people you know click on it several times. That will get you banned. The coolest thing about adsense is that it can be a source of passive income. You do all of the work initially and then just let it sit. The trick to it is in the keyword research, but I’ll go into that in another article.
There are two ways to set up to earn adsense income. One is to set up a lot of micro-sites that provide good content with about 4-6 articles. The other is to have one website that is constantly updated with content and has a lot of traffic. Here’s a numbers example of the micro-site way to make adsense income. If you have one site that generates about $1 per day, that works out to $30 per month. If you have 10 websites that generate $1 per day, then that’s $300 per month. 100 websites = $3000 per month. With the other method of having one website that’s constantly updated, you might see $5-$10 per day with a ton of traffic. I know that $150-$300 per month doesn’t sound like much, but that would only be one way to monetize that one website.
That brings me to the second way to making money online-affiliate commissions. This way has the potential to generate a pretty penny online as well. Affiliate commissions work like this-you get a visitor to your website to buy a product through a link on your webpage and get paid a percentage of the sale. All you have to do is sign up for different affiliate programs like Amazon.com. The trick to making good money as an affiliate is to sell high priced items. If the retailer is only willing to pay you 6% on an item, which would you make more money from, selling 100 $10 items or selling 2 $1000 items? You’d make twice as much money from selling the more expensive item. From there the math it like it was for adsense. The more websites you have promoting big ticket products, the more money you can make. Unlike adsense, affiliate marketing requires outstanding niche selection. The niche is basically the market you plan on entering. There are so many different ways that people go about niche selection, it’s hard to narrow down which one is best. It usually boils down to common sense. Would you want a small piece of a huge pie or a large piece of a tiny pie? I’ll be covering my perspective of niche selection in another article later.
Finally, you have your own products. This is where the real money is made. You have the potential to keep 100% of the money that comes in when someone purchases your product. What’s great about making your own product is that it does not have to be a physical one. It can be what people refer to as an info product. A product based around delivering good information to the user. It is usually in the form of a method or system to do something like make money online. It could also be educationally based like how to set up a website. Whatever it is, it’s information based.
This actually keeps overhead costs relatively low. There is no physical product to deliver to the customer. If the method or system is thorough, then there really isn’t much customer support. You can do everything yourself or hire just one or two people.
Well, I hope that this shed some light on the subject of making money online. I’ll go into more detail at a later date for the three methods that I mentioned here.
Until next time, keeping grindin’.
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