Ah !! Now that’s my favorite topic. I love to make money online but I love sharing the tips and tricks with others too. Guess what? It actually pays. Today I am going to write some articles to compile a running list of methods to make money online. Let’s get started:
- Flipping – That’s one of my favorite methods. Flipping works with domain names, websites and even apps. Domain flipping is a very lucrative business. But at times one needs to invest in good domains which may mean a good amount of seed investment. Therefore I personally like Website Flipping. It means buy / sell websites. Most of the times creating a website and selling is more profitable. Often one has to keep the website with him till it matures and starts giving results. There are a lot of buyers in flipping market for a good website or web business. However be genuine about your product. Giving false revenue or traffic information about your web asset not only hurts your credibility but also puts the buyer in loss & is very unethical. There is a big marketplace for flipping mobile apps too. One such popular marketplace is Flippa.com.
- Become an affiliate marketer – This method earns great amount money online & there are several niches in this method. You should pick up a niche where you think you can outperform or have domain knowledge.
What’s affiliate marketing?
In simple words, it means selling for someone else and earn a commission on what you sold.
This method works for Physical products (retail goods) and Info products (ebooks, web tools) equally. What makes this method a very lucrative one is the rate of commission. Typically Info Products offer a commission of 40%-70%. Sometimes even the rate is bumped up to 100% for the front end product. So a question might come up as what’s a front end product? I will probably cover it in a separate post. But just for the sake of completeness, front end product is the product which is offered for sale on the main sales page. Typically with Info products, there are upsells, downsells & OTOs. These are value added products and sometimes high tickets too. Typically a successful sales funnel of an info product provides a chance to earn $100-$300 to the affiliate marketers.
Some important networks in this business are JVZoo.com & ClickBank.com
For Retail Goods, the concept is very much same. An affiliate marketer creates a website and lists products from various retailers. If a user visits his store & decides to buy a product, the visitor is redirected to retailer’s site. Due to tracking in-built in the redirection link, retailers know that the visitor is coming from the affiliate marketer’s site. Now if the visitor makes a purchase, affiliate marketer is paid a commission. Typically this commission is 4% – 10%.
There are several tools or wordpress plugins available to setup an affiliate website. The best so far we found is Magic Store Builder. (http://magicstorebuilder.com) This software helps to churn out an affiliate store or a niche specific store in literally minutes. It needs a little bit of server setup but their support team helps you out with it.
- Sell a eBook – This is kind of related to Method 2 above but it’s actually the other side of the coin. Instead of selling someone else’s eBook, this method suggests to write your own. It typically needs a good amount of time, effort and domain knowledge. Noobies should probably stay away from this until they pick up some experience on the way.
- Sell Stock Photos – I think the name says it all. If you are passionate about photography, you must try this method. Fotolia, iStockPhotos.com & ShutterStock.com are great places to start exploring this option.
- Sell Online – Ebay, Amazon, Buy.com & even other retailers allow users like us to list and sell our own products. One can list their used products or buy in bulk and sell retail on these marketplaces. Amazon offers a program called “Fulfilled by Amazon (FBA)” which is very popular technique of selling things online. Combine that with Drop Shipping and Voila !! I will write a separate article for just that some day.
There are many other methods like fiverr, social marketing, SEO, outsourcing, Virtual Assistants, fill up surveys, create graphics, do a voiceover, mystery shopping etc. However I don’t have enough details about them with authority. I am sure the methods I listed will trigger some curiosity in your minds and you will start looking for more information. Post your questions or write comments and we can get those answered here and now!!
Enjoy… Make lots of money online!!