These 6 creative ways to make money online is going to expose you to some facts you have probably overlooked. This post will show you some of steps you can begin to take increase your online earnings or income.
Related: How to Master Miracle Money
Attracting multiple streams of income
Your Web page is the portal through which you will attract multiple streams of income into your life. Some of these streams will be gushers. Some of them will be tiny rivulets mere trickles of cash flow.
What makes these income streams possible is a steady stream of people. No people, no money. If you want to make money on the Net, having your own Web page is just the beginning. It’s like having a billboard in the middle of the Nevada desert… if nobody sees it, it’s as if it doesn’t even exist. It’s worthless.
Traffic is the real deal on the internet
If the three keywords in real estate are, location, location, location, then on the Internet, they’re traffic, traffic, traffic. Your most important task is to drive traffic to your site.
If you have no traffic, your site has no value. I repeat: A Web page is nothing. Traffic is everything. By traffic, I mean visits by people. The more visits, the more valuable your space.
Think of it this way: Before Las Vegas became the “hot spot it was nothing but a few lonely buildings in the middle of desert. Along came gambling and attracted a few people. The casinos needed to attract more people, so they needed famous entertainers and glitzy dancing girls.
Traffic increased. They offered cheap airfares and inexpensive food. Traffic increased even more They staged major boxing bouts. and people flew in from all over the world. Traffic increased again
They added a major convention center. Traffic zoomed. Then they added attraction for kids and families. Traffic exploded. With traffic flowing (people circulating) throughout the city, everything else in the city became more valuable – the commercial street corners, the office space, the restaurants, the retail stores.
Newspaper ads, the magazine space, billboards, television and radio spots-all increased in value. However, if the traffic were to stop flowing, the buildings would stand empty, the stores would have no customers, the population would leave. It would become a ghost town.
Related: Free online business resources
Ways to make money online: traffic to your website
Your website is like an imaginary city in the middle of the desert. If you can attract people to it (traffic) and encourage them to come back again and again and bring their friends, then everything on your site will increase dramatically in value.
You own all the real estate -the digital property. You own the commercial corners, the malls and shopping centers, the residential apartment buildings. You own the television stations, the newspapers, and all the billboards on every street corner.
Without traffic, all of these assets are worthless. With traffic, you can rent out this assets for a fortune! It’s all about traffic.
Ways to make money online: Internet marketing machine
In this article, let me show you how to build an Internet marketing machine. A machine that not only drives traffic to your site but gets people to leave money as they are passing through.
Think your webpage as a convenience store. Joe Customer walks in with the sole purpose of buying a gallon of milk. On his way to the coolers, he grabs a box of donuts. At the cooler, he remembers that he also needs some orange juice.
Walking back toward the cash register, he spots some batteries. At the cash register, he adds some breath mints. He came in to buy one thing and leave with five items. These impulse buys make up a large percentage of the profit of that store.
How to make money online: Newsletter sign up
Don’t forget the main purpose of your site. All of your traffic generating activities have one purpose in mind – to entice your visitor to sign your guest book and give you permission to contact them again. If you don’t accomplish this simple goal, you have failed to build yourself an asset that will generate your prime source of long-term wealth.
I know you want to make money now but before you sign up for a hundred affiliate programs, stop and make sure you have accomplished your most important task. By gathering their e-mail address, you have introduced potential customers into your reservoir of interested-but-not-yet-committed customers.
Once you have obtained permission, you should send an immediate autoresponder email congratulating your prospects on their wise decisions and rewarding them with special goodies for reading your first message to them. I call this an ethical bribe. You are rewarding them for granting you permission to contact them. In other words, you are paying attention.
In addition to gathering the email address of every visitor to your site, let’s explore the many ways you can induce your Web visitors to leave money. There are at least six main streams of income.
Profit Centre 1: The Main Product Of Your Site
After you have gleaned the permission to continue to communicate with your prospects, the next most important task is to satisfy their primary reason for visiting. Something in your advertisement attracted them.
They’re interested in your offerings. During this very first visit, you may have only three clicks’ worth of time to convince your curious strangers to linger long enough to find something they want.
You should design a first-time buyer’s reward a package of incentives that tip the scales toward a yes rather than a no, An example is that of discount airline tickets. If all the tickets are priced about the same, I’ll go for the one that gives me the extra discount.
What can you come up with that differentiates you from all other options? Could it be a gift certificate for a book or some other valuable premium?
Could it be a coupon or a huge discount on a future order? Could it be a frequent- flyer miles? Could it be a bundle of free reports? Could it be placing your customer’s name in a monthly raffle to win one of your catalog items? Could it be a telephone consultation with you about the customer’s area of interest? Could it be free placement of a classified ads in your newsletter or on your Website?
If possible, try to make the value of many of the items in your catalog. Remember, if you treat customers right, they will be back again and again with an increasing volume of purchases. You need to invest in your customers so they will invest in you.
And that brings us to the SECOND STREAM OF ONLINE cash flow from your website.
Profit Centre 2: Joining Affiliate on Programs
The Web is teeming with affiliate programs, the most famous of which is Amazon.com. The Amazon.com link has been added to hundreds of thousands of Web pages all across the Internet. Each of these links represents a mini partnership between the site owner and Amazon.com.
The host site (Amazon.com) agrees to pay the referring site (you) a small fee to provide a link on your site to Amazon.com. If someone clicks on the Amazon.com link on your site and ends up purchasing anything, you will receive a commission for that referral.
There are now hundreds of thousands of satellite partners who have an ongoing self-interest in the continuing success of the Amazon.com mother ship.
I start with Amazon.com as an example because this strategy is one of the prime reasons for it’s incredible growth in gross revenues.
The more affiliates the host site has, the better for spreading the message. Copying this successful strategy are thousands of other businesses marketing a myriad of products, all of which are trying to accomplish the a same goal: increased traffic and thus increased business.
Eventually, you, too, will want your own affiliate program to market your own products through hundreds or thousands of partnering sites. But before you launch your own affiliate program, you need to experience what it is like to participate in several affiliate programs.
Online Affiliate Programs versus Traditional Network Marketing Programs
Similar to affiliate programs are network marketing opportunities. They operate on the same model-at referral fee for steering someone to an existing business. But network marketing has more complicated compensation plans that reward you more extensively for the efforts if people recruited into your organization.
Because this extra layer of complexity and the extra effort required to build and maintain a growing downline,I highly recommend that you participate in only a single, excellent network marketing opportunity.
Both affiliate programs and network marketing companies base their existence on the concept of rewarding people for their positive word-of-mouth advertising.
Have you ever been to a great movie or a great restaurant and told a friend? That’s called word-of- mouth advertising. Businesses love word-of-mouth advertising because it’s more effective than all the money they spend on any other form of advertising, promotion, or marketing. Network marketing is a way for businesses to leverage the power of word-of-mouth advertising.
Let me give you a hypothetical example. Suppose you recommend a great restaurant to your sister. Let’s call it Chez Bob. Your sister and her husband make a reservation for dinner, and during the meal, the waiter asks them how they heard about Chez Bob. They mention your name. How would you feel if the owner of the restaurant sent you a thank-you letter and a coupon for a free meal in
Chez Bob has gained a new long-term customer. This customer didn’t come as a result of a Yellow Pages ad or a radio and newspaper campaign. Therefore he wants to reward you for this new word-of-mouth customer. Any time your sister visits his restaurant in the future, he will send you a check for 10 percent of the value of the meal as a continuing thank-you
Sure enough, every several months you receive a small thank-you check. You’re so impressed that you encourage others to visit Chez Bob.
This generates more free coupons plus more 10 percent word-of-mouth checks. After a year, you are receiving several small checks a month. After several years, you’ve helped to create dozens of monthly customers that generate hundreds of dollars of extra, no-hassle income to you. That would be nice, wouldn’t it?
This is the theory behind network marketing, as it is now called. I prefer to call it relationship marketing because it is as a result of relationship that word of mouth derives its power.
Businesses these days spend up to 50% of their goods for advertising and marketing expenses. Instead of sending these advertising dollars to wealthy newspapers, magazines, and television stations, several smart businesses have begun to share this money with their best customers. Every time one of their customers influences someone to buy products, they sent this loyal customer a check as a sort of referral fee.
Eventually, these residual income streams flowing from dozens, hundreds, thousands, even tens of thousands of customers can become substantial (as in my personal case).
But as I said earlier, it takes time, dedication and commitment to build substantial network marketing income streams, so I recommend that you choose only one network marketing opportunity and focus on it until you are successful.
While I know of many people who earn income from a variety of associate programs, I know of no one who has successfully built and more than one network marketing business simultaneously. In other words, pick a company and stick with it.
Profit Centre 3: Opening Your Own Bookstore
No matter what your product is, you are ultimately in the educational business. Your customers need to be constantly educated about the many advantages of doing business with you, trained to use your business more effectively, and taught how to make never-ending improvement in their lives.
Each of your regular e-mail newsletters should be designed to continue the education process. Therefore, each e-zine becomes content that goes into your archives.
Each detailed question you answer in your e-mail becomes a template for the Frequently Asked Questions (FAQ) section of your site. Eventually, the contents from your FAQs and e-zines will end up as a series of special reports (which can be combined into a full-length book), which you can either sell or offer as a premium bonus in your marketing efforts.
What should you offer in your bookstore? The following four major items:
- Your own special reports
- Your own books
- Resource materials from joint- venture partners
- Your own selection of traditionally published books.
The fastest way to stock your bookstore with books is to become affiliated with a major online bookstore. You can display on your site your own private selection of books that pertain to your industry or product line. It stands to reason that if a person is interested in your product line, he or she should also be interested in any related Information. Why not profit from this special interest?
The disadvantage to this approach is that (1) profits earned from these minor sales will be minimal (3 to 7 percent of the purchase price) and (2) it drives traffic away from your site, perhaps never return
A more profitable alternative is to research self-published authors online who have created information content that would be suitable for your visitors and arrange to buy their information products on consignment.
The price you can charge for such content is generally higher with correspondingly higher profit margins, and you don’t have to lose the traffic to Amazon.com.
Of course, the highest profit margins are for information products that you create yourself, such as books and special reports. If you plan carefully, a series of special reports can actually be organized into a full- length book
Dr. Jeffrey Lant, in his impressive book. How to make a Whole Lot More Than $1,000,000 Writing, Commission, Publishing and Selling “How-To” Information, reveals that one of his most powerful profit centers is the creation of five page special reports. He sells each special report of for $6 (three of them for $14). Rarely at does anyone order fewer than three at a time.
In the back of his book he lists over 100 of these special reports and I defy you to read through the book and not end up wanting a half a dozen for yourself
What is so incredible about these reports is that they can be created from recycled material such as your FAQS and newsletter articles, thus providing an ongoing cash infusion to your business. Here is what Lant says about profitability.
Special Reports are very profitable. Because people tend to buy in multiples of three Special Reports have become a very important profit center for me. No wonder. Consider the cost.
Direct costs include the value of my time in creating them (which may mean recycling material from other sources) or getting other specialists to create them for me. Factoring all expenses, including postage, the individual Special Report costs about 45 cents to produce. I sell them for $6 without any problem.
Of course, Lant’s book was written in 1993, before the Internet really exploded. The costs associated with digitally producing and delivering a special report has now been reduced to almost zero!
Lant boasts that he creates 24 to 28 of this five-page special reports per year. (The magic number of five pages keeps the postage down to one first-class stamp.) Each report is personally individualized with the purchaser’s name and current date. Another benefits of creating the special report is the publicity value.
These special reports can become the basis of your PR campaign. Submit them as is to newspapers, magazines and e-zine to help spread your message. Each special report should include a resource box at the end, with details about how to reach you for more information (for a fee, of course).
Your special reports become a sophisticated marketing vehicle. In time, your resource centre can become one of the most profitable profit centres on your entire site.
Now for the next source of site cash.
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Profit Centre 4: Advertising
In an analogy at the beginning of this article, I described how Las Vegas was converted from a desert ghost town into a thriving metropolis because of the traffic flowing through it.
Where there is traffic (i.e eyeballs), there’s potential to rent this traffic to other businesses. People want to rent this eyeballs, and other businesses will pay you upfront for that privilege.
The downside is that this eyeballs may be siphoned off to another part of the online universe, never to return. Of course, your eyeball asset has no value until you have enough eyeballs to make a difference to someone. But with the future in mind, let’s explore at least four ways to profit from advertising.
First, let’s start with an important policy: Never rent, give, trade or sell your email names to anyone.
Never. Period. And state this in your email acquisition policy. In the offline world, renting a mailing list can be a juicy source of extra revenue. But online, the aversion to spam(unsolicited email) is so intense that you need to make a decision never to violate the goodwill of your “fish in training”. This doesn’t mean that you can’t include a paid ad or two in your periodic newsletter.
Four ways to Generate Advertising Revenues
- Selling, renting or trading banner ads on your Website
- Selling, renting, or trading classified ad space on your Website
- Selling, renting, or trading links from your site to another site
- Selling, renting, or trading advertising messages in your periodic e-zine.
Profit Centre 5: Selling Picks and Shovels
The fifth major way (there are dozens of minor ways) to earn income from your site is to profit from other people who are coming online. It has been widely reported that the only people who made any lasting money in the California and Alaska gold rushes were the people who supplied the picks and shovels and auxiliary services to the miners themselves.
Hundred of millions of new Netpreneurs will join the online gold rush in the next decade. As in previous gold rushes, the majority will be disappointed in their prospecting. Not because there isn’t gold in them but because these prospectors simply don’t know how to go about finding it. That’s where you come in. Yo can provide the picks and shovels for them.
What are the picks and shovels of the Internet?
• Web-hosting services
• Website designed and consultation
• Marketing device
• Education and training
• Advertising services
• Affiliate programs to help new businesses get started
• Computer hardware
• Computer software
• Credit card services
And many more. Just think of kind of products, services, and information that it took and continues to take for you to get up to speed in your online business. You can provide the products, services, and answers to hundreds if not thousands of prospective miners. Why not profit from your education in the school of hard knocks?
Profit Centre 6: Establishing Your Own Auction
Have you ever bought something at an auction? What is there about auctions that is so seductive? Answer: It is a perfect formula for creating a feeding frenzy!
Popularity+scarcity+ urgency+curiosity= feeding frenzy
The auction model applied to the Internet is one of those rare business ideas that looks, in retrospect, to be a stroke of pure genius: When millions of people focus on a single item for a limited time frame, those who wouldn’t even consider buying such an item in an ordinary department store fight with total strangers to out bid each other over the Internet.
Why shouldn’t you participate? Don’t you have some stuff in your possession or in your business inventory that would be perfect for an auction? Here are the three major benefits of setting up your own auction:
• It can generate extra income for you.
• It’s a great way to advertise your Website and expose more people to your ongoing business.
• It’s the hip thing to do.
Summary of ways to make money online
These six ways of creating cash flow will take time, effort and investment to incorporate into your Website, but they could become powerful ways if creating multiple streams of income for you. We will explore each in more detail with the goal of not just learning what to do but actually doing it.
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