12 Ways to Make Money Online

It’s not impossible to make money online. My website, Good Financial Cents, has been helping me do this for almost a decade. There are thousands of people online who make money with unique marketing strategies, websites, and courses.

Here’s the good news. Most online revenue strategies don’t require too much effort. Your online income will take time to grow, just like any other business venture. It is important to put in the effort to help your idea grow, even if it takes a while.

Here are some of the most realistic and effective ways to make money online.

12 Ways to Make Money Online

1: Google Adsense

Google ads are everywhere if you visit any website. Google ads are ubiquitous, and with good reason. These ads are easy to place on any website. However, they can also be very lucrative once your website has a steady flow of traffic.

Google AdSense’s simplicity of setup is one of its best features. You can register for a Google AdSense account if you own a website or blog. Google will then give you a unique code which you can paste onto your site. Google will track your page views, traffic and earnings for you. This requires no maintenance or upkeep, so it’s a simple process if you already have a website.

What is your potential income? My best month with Google AdSense was probably $5,000. This is a ten-year span. This amazing month was near the start of my blog journey. It’s amazing to see how you can go from zero to $5,000 per month. It was also exciting for me because I knew that there were other ways to make money.

2: Affiliate Marketing

Affiliate marketing is a great option, regardless of whether you already have a website or you are just starting to think about a blog. Affiliate marketing allows you to partner with businesses and brands within your website’s content. You can link to a product or service by mentioning it in your website using an affiliate code that you were given when you signed up for the program. You’ll earn money every time someone purchases a product or services through your link.

You should partner with affiliates who are closely related to your blog idea. As a financial advisor, I focus a lot on affiliate marketing for financial products such as savings accounts, credit cards, investment accounts.

You can sign up for affiliate programs individually or join an affiliate network that has many different affiliates. This allows you to see over time what works and doesn’t.

Michelle Schroeder Gardner, a friend and author of Making Sense of Sense, is the best source of inspiration for affiliate marketing. Michelle makes more than $100,000 a month through her blog, and the bulk of that income is from affiliate sales. Michelle has enjoyed so much success in affiliate marketing, she has even created her own course called Making Sense of Affiliate Marketing.

Michelle has many affiliates working in the financial industry. Bluehost, a blog hosting company, is one of her largest affiliates. This shows that almost any product or affiliate company can be profitable if you are able to identify your audience and generate enough traffic to make sales.

3: Consulting

Consulting is another way to make money online. You might be able to find people who are willing to pay you to help them with their business or personal goals if you’re an expert in any area. Although you might not believe you are important enough to be consulted by large companies, you may be surprised at how much people will pay for your expertise.

Robert Farrington, my colleague at The College Investor, is an excellent example of someone who has consulted online in an unorthodox industry. Robert explained to me that after blogging for several years, a few brands reached out and asked him for his help with online marketing and social media.

Robert stated that he averaged 4-6 gigs per year depending on the work involved and his schedule. He charged a flat fee, usually around $100 an hour. This is the best part. Remember, this was his income to help people grow their brands using social media tools such as Pinterest and Facebook.

Clarity.fm offers a free account for anyone who wants to get started in consulting. Anyone who is interested in consulting can create a profile on this website. After your profile is created, people will be able to find you and book sessions for you.

4: Online Courses

It’s possible to create an online course that you can sell online if you have any skills you are able to teach others. Online courses can be found that cover everything from marketing to cooking and freelance writing. You can even find my course, The Online Advisor Growth Formula for financial advisors looking to grow their business online.

My friend Joseph Michael from Easy Course Creation was profiled last year. Michael offers several courses including one on Scrivener, a writing program. Michael has made six figures annually from selling courses that help people achieve success.

Many people create their online courses through platforms like Teachable.com. Teachable allows you to upload your course materials, manage customers, and receive payments.

5: Podcasting

Hosting an online podcast is another way to make money online. To go with my blog, I have the Good Financial Cents podcast. I use this platform to find new sponsors or advertisers every day.

It was still a good memory to get my first sponsor for the podcast. They were willing to pay $8,000 to have a brief clip included at the beginning of every podcast for 90 days. It was a moment that I found extremely exciting, as I was not sure I could monetize my podcast so much.

But there are many podcasters who make a lot more than I do. John Lee Dumas hosts the Entrepreneur on Fire Podcast. The show’s latest income report shows that the podcast earned over $400,000 in March 2018. Now, that’s crazy.

Finding your niche and growing an audience are the keys to podcast success. Next, you need to find ways to monetize and partner with sponsors. Although this isn’t the easiest method to make money online, there are many logistics involved in recording, editing, and publishing a podcast. However, it is worth looking into.

6: Book Sales

Although publishing used to be dominated by print media, it is possible to publish, market, and write a book online. You can upload your book and have it printed without the need for a publisher.

Joseph Hogue, a blogger I know, has a popular blog called My Work from Home Money and a growing book publishing business. Hogue has published several books online, which he says has created a steady stream of passive income. Hogue estimates that he sells an average of 685 books per month, which equates to $1,857 in monthly revenue. Not bad, huh?

This strategy is worth considering if you believe you can write a book that people will want to read. The start-up costs are minimal and you likely already have word processing software and a computer.

7: Lead Sales

Collecting leads is another way to make money online. To make lead sales work, you must first set up a website and get traffic to it. Then, you must ensure that you are only collecting leads that people will pay for.

Here’s an example of lead sales in action: Life Insurance by Jeff is my second website. It attracts tons of traffic from people searching the internet for answers to their life insurance questions. Although I had the website setup so that I could sell life insurance to these people, it was difficult to handle all the requests and clients. So I decided to sell the leads that I had gathered.

Lead buyers will pay me for the information that I collect from visitors to my website. It’s a win-win situation for all: I get paid for leads and my website visitors get connected with someone who can assist them.

You can sell leads in many industries, not just life insurance. You just need to find a niche and build a website. Then, see what you can do with the leads that you have.

8: Freelance Writing

It’s possible to make online content if you have creative talents and writing skills. Although I don’t do it as often as I used, I know how lucrative this income stream can be.

Holly Johnson, a blogger I know, makes more than $200,000 a year writing content for other websites. This is in addition to the six figures she makes with Club Thrifty, her blog.

Holly said that she began writing content in 2011 Holly told me she started writing content in 2011. She was able to increase her rates by doubling and triple them over time until she was able quit her full-time job to become a freelance writer. She is now a freelance writer, and she teaches other writers via her online course Earn More Writing.

Johnson says that the key to success as a freelancer writer is to find a niche and network with people who may hire you. Johnson also recommends that you deliver high-quality content 100% of the time. Although there are many writing job boards that can help you get started in your career, Johnson says it is easy to find starter writing jobs through websites such as Upwork.com.

9: Sponsored posts

Sponsored posts and ads can be a great way to make money if you have a website. How does this work? Companies will pay social media influencers and bloggers to promote their products. You can make a lot of money if you have a social media platform.

I was completely blown away the first time I received a sponsored post from Good Financial Cents. Although I believe I was paid $100, it was quite a sum at the time. However, I discovered that companies who wanted sponsored posts really only wanted links from my site to theirs. I increased my rates as a result.

Today, I charge $4,500 per sponsored post. To ensure compliance with Google’s terms, I clearly label all sponsored content as an #ad. I only endorse companies that I believe in or use.

However, I know of bloggers who get $20,000 for sponsored posts. It’s quite crazy, but it just shows what is possible.

Remember that sponsored content doesn’t have to be on a website. You can still get paid for your social media followers. My wife is a big Instagram follower, so she receives all sorts of sponsorships. We also get lots of free stuff. We have received free rugs and lights as well as carpet cleaners. This strategy works well for her because she only promotes items that she loves.

10: Webinars

Want more ways to make money online. You can also use webinars to promote your product, service or course. To promote my financial planning practice, and to generate interest in my online course for financial advisers, I have done webinars. A webinar is basically a free way to offer a lot more tips and advice, usually in a live format. You will pitch your paid product or services at the end with the aim of closing a few deals.

Grant Baldwin, a professional speaker, uses webinars to promote his courses on public speaking such as Get Booked or Paid to Speak. Baldwin provides many tips and tricks during the webinar. However, he also offers his course at end for those who wish to learn more. His sales pitch is very effective, and he often delivers.

It doesn’t matter what product you sell, it’s easy to create a webinar and get people to sign up using a lead magnet or via Facebook ads. If you’re willing to look, you might even find a free webinar about how to make your first webinar.

11: YouTube

YouTube is another platform that makes it easy to make money online. YouTube has a lot of channels on almost any topic you could think of. Most of these people are making money off their videos and the time they spend.

Antonio Centeno, a former Marine Officer and men’s fashion expert has made a million dollars from his YouTube channel Real Men Real Style.

Forbes published a profile last year of some of the most prominent YouTube stars. The study found that the top ten YouTube stars with the highest revenue earned $127 million between June 2016 and June 2017. DanTDM, a video gamer, was the most popular and earned $16.5 million.

What are your chances of making that much money? It’s unlikely. You can make money on YouTube by using its own advertising network or getting sponsored posts. You can make videos on YouTube and earn money.

12: Create an Online Community

You can also make money online by creating an online community. However, the strategies that you pursue depend on your goals. A blog is one way to build a community. A forum can be set up online and members can pay for it. You can even create a Facebook group to promote and sell products.

Jocelyn Sams and Shane Sams, my good friends, have become experts at building online communities. Flipped Lifestyle is their current website. This community teaches people how to start an online business, and connects entrepreneurs with similar goals.

They had an online community that was open to teachers searching for lesson plans before this group. Although it may sound strange, you’d be surprised at the types of communities that you can create and rally people around. An online community is something you should seriously consider if you are passionate about it and want to connect with other people who share your passion.

 

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