Ways to Make Money Online
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.“Always bear in mind that your own resolution to succeed is more important than any other.” ~
Abraham Lincoln
In my brief research I have uncovered a few ways to make money online. They are not equal at all – some require much more set up work than others while some are likely to make you much more money than others.
In this article I am just going to list and give a brief explanation of the different methods to make money online that I have found. In subsequent articles, as I research each topic in detail and try my own experiments, I will really evaluate these methods of making money online and list the pros and cons.
Selling products online – eCommerce
Well we have all heard the term eCommerce and it basically refers to selling products online for visitors to your website (called an eCommerce store by the savvy) to buy. Probably the most well known example of this type of eCommerce is Amazon.com, which sells literally millions of different products online. But for you and I we can start off selling a small number of products – either things we make ourselves or buy from others to resell. We can buy products up front to re-sell or use dropshipping in which you don’t have to buy the products upfront. I will explain how you can use dropshipping to make money online in detail in an upcoming article.
Auctioning items on ebay.com
Another way to sell products online, rather than having your own website on which your products are listed for sale, is to auction them off on an auctioning website. The most famous auction website is ebay.com. The big advantage of this is not having to build your website and process payments yourself, which can be an involved and costly if you want to accept payments online through your website (But don’t worry I am going to research this one and give you all the info too if you want to do this). When you use ebay.com though, you don’t have to worry about this. Ebay.com sets up all the payment methods and most times your buyer goes through the Ebay checkout facility. No extra work for you. You do have to pay ebay.com fees when you list an item for sale and when you actually sell it, but the fees seem reasonable and still allow you to make decent money online. More about that in the detailed ebay.com review. As to what products you choose to sell on ebay.com, again it can be products you build or buy or even used stuff from around the house – its like an online garage sale. This last one is going to deserve a special article as it can help you to launch your online business.
Affiliate Marketing
Affiliate Marketing is similar to doing sales on commission. Basically, large, and some not so large, companies who do business online need to get the word out to potential customers about their products. So they ask people who have a website of any kind, whether it is personal or business, to show url links back to specific products on their website. For example, on the lieslnet.com website we have links under certain product names that link back to Amazon.com. If a visitor clicks the link and it take him to the product page on amazon.com. If he then buys the product lieslnet.com gets a small percentage of the sale – it is usually quite small, like maybe 3% but if you have enough of those clicks and purchases you can make some money online. Also, I like the fact that I can help my readers to purchase a product from a reputable source even though I don’t sell anything on my website. Many people will build websites designed to showcase affiliate links. We will talk about how to do this in a future article.
Pay-per-lead Affiliate Marketing
A subset of affiliate marketing is pay-per-lead or lead generation affiliation. Basically, some online companies will pay you just to lead a visitor to their site, provided the visitor takes some specific action at their site, such as sign up for an account. And they will also pay you additional regular affiliate marketing if they purchase products through that account. How much money they pay out to you varies by company and affiliate plan. How do you find these affiliates and determine which is the best ones and the most relevant ones to your website? Well, I am researching that now, so keep tuned in.
General Advertising
The final method that we are going to discuss today for making money online is the familiar advertising techniques. I know that you have all seen “Ads by Google” because there are some listed right on this very page. Basically you can place google ads on your website and whenever a visitor clicks them you get paid a small amount of money. It is very simple to use. You sign up with Google for an Adsense account – they give you instructions on how to create the type of ads you want to show on your page and give you the code to embed in your website. It sounds complicated but I do it with one click. The nice thing about this, is that once the ad is on your site you don’t have to do anything else. Again it is not huge sums of money you will be making with this technique but every dollar counts when trying to make money online.
Almost all of these methods for making money online assumes that you have a website and you have people visiting your website (traffic to your site). Creating a website can seem overwhelming but the products available online have made it really simply and easy to do with just a few clicks. Getting people to visit your website is another story – or rather another article. All my research says that these methods for making money online are not complicated and you don’t have to be a technical wizard to do it. We will see as I experiment and delve further.
“A fool is a man who never tried an experiment in his life.” ~ Erasmus Darwin
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A New Start, Affiliate Websites, Make Money Online, Motivation, Research, Self Discipline |
5 Comments »
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August 8th, 2010 at 2:01 pm
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