So Many Different Ways to Make Money…..

| October 4, 2015

Q. I’m new to online marketing and slightly confused. There seems to be so many different ways to make money – can you help me clarify them down to the basic methods?

A. Interesting question. Yes, there are many methods and millions of variations, but really it boils down to these few:

Affiliate Marketing – promoting products that are made by others in order to earn a commission on sales. It could be one time sales or memberships with recurring payments. Amazon, Warrior, JVZoo and Clickbank are examples of places you can find products to promote.

Review Sites – this is still affiliate marketing, but if you do it right, it can be quite lucrative. You set up a site on which you review products, either tangible or digital, and make recommendations on what to buy and what to avoid. If you put your readers first and your profits second, you can build up a very nice following who rely on you to tell them the truth about products in your niche.

Earnings Per Click – usually done by displaying ads on your website from an advertising network such as GoogleAdsense or any of these 415 Adsense competitors:

Creating Your Own Products – you create the products, and you and / or your affiliates sell them. You could sell them through Clickbank, JVZoo and so forth. The products are typically info products or software – something you create once and sell many times over.

Kindle – this really falls under creating your own products, but it’s so huge it can have its own category. The good thing about writing books for Kindle is Amazon does a lot of the heavy lifting in promoting your work once you get some sales rolling in. The bad thing is you’re charging less than you would for, say, a video course you sell yourself, so you’re also making less per sale.

Memberships – again, this can fall under the creating your own products category, but it’s so important and profitable it deserves its own mention. You can create newsletter, memberships, software or anything for which people subscribe and send recurring payments. The benefit here is clear – you get paid monthly rather than one time, so you have some fairly steady income coming in.

Services – performing a service for others that you sell. Easy to get into if you have a skill, but difficult to make real money since you can’t scale it. You’re basically still getting paid by the job or by the hour.

The clever reader will no doubt notice there aren’t really 7 categories here, but just two: Selling the click and selling your own product or service. Yes, online marketing is that easy, at least in theory.

And of course there are many variations of the above. For example, blogging. You might think blogging is about writing, but it’s actually about selling the clicks or selling the products.

I suppose I could have answered this question like this: The only online business model is the same as the only offline business model – something, somewhere, somehow, needs to be sold.

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