The key to financial independence is learning how to make money in online marketing to earn consistent monthly passive income.Financial independence is the dream for most online marketers. Once your monthly passive income from your online marketing efforts exceeds your monthly expenses you can say you have achieved financial independence and met your goal.
Of course you know that in order to truly achieve financial independence you must discipline yourself to spend much less than you earn and set aside the excess for saving and investing back into your online business.
There are many ways to make money in online marketing. In this post, I will outline a few of those ways. Some of the ways I will show you will require directly trading time for dollars; others will be passive, e.g. work hard to set up automated online systems and then reap the rewards of your efforts 24/7 without high-maintenance.
But let me help you with something. I used to think that there was one path toward making money with online marketing–set up a niche website, monetize with ads and affiliate partners, drive traffic and put money in the bank.
That’s not a bad strategy except for the fact that affiliate partners can change commission payouts and Google and other search engines often change algorithms which can seriously impact advertising revenue. Some affiliate partners like Amazon pay a few dollars for every sale which means you must have massive traffic to make enough money to quit your 9-5 job, or you must create multiple niche websites.
After a few years of experience, I learned that the best way to make money with online marketing and achieve my goal of financial freedom required an online strategy of earning multiple streams of passive income coupled with a disciplined savings program.
Smart investors use a similar strategy for building security into their investment portfolios. It’s called diversification. The basic principle is simple, “Don’t put all your eggs in one basket.”
So, just as you would build a smart investment portfolio, you can build a smart online marketing portfolio and make money online by earning both passive and active income with multiple streams of income coming from several sources.
If your goal is to earn a few hundred dollars online, a simple niched website or two will do. But, if you are looking for a way to earn a more substantial income and transition yourself into a life of financial freedom, take a close look at my Time Rich Money Rich™ coaching model.
Notice how you can move from being a time poor, money poor “wage-slave” working a 9-5 job for an employer into being self-employed and earning active online income. Earning active online income as a self-employed independent contractor is a secure way to make extra income and start your transition from trading time for dollars from an employer to earning passive income online where you make money as an online business owner.
The big difference between Phase 1 & 2 of this model and Phase 3 is the emphasis on marketing products as opposed to trading time for dollars with service you provide. The more service you provide personally the more time constrained you are and, unless you can command a very high rate, the less income you are likely to earn.
The reason for that is simple. Trading time for dollars requires your personal one-to-one attention. By automating an online business and learning to leverage your time by managing outsource workers to create products, website content and serve customers while learning to utilize automated email systems, you can create unlimited streams of online passive income as an online business owner.
Listed below are a few of the best ways for how you can make money in online marketing. I have divided the list into Active Online Income Opportunities (e.g. trading time for dollars) and Passive Online Income Opportunities (e.g. building a website platform to market products and make money 24/7).
But again, I must caution you…there is no instant success formula…no one click miracle. It takes a smart strategy, training and patience to earn money with online marketing.
Make Money in Online Marketing: Active Income Opportunities
-1- Market your expertise for work as a Virtual Assistant
www.flexjobs.com-is a one stop source for a variety of legitimate work at home jobs. If you are unemployed and have a decent resume, Flex Jobs would be a good place to start your work from home career.
www.Arise.com-is a virtual solution B to B company that provides technical support and customer service to businesses. They hire work at home agents for sales, technical support and customer service calls.
www.CloudCrowd.com– If you want to earn money at home including writing, site reviews, graphic design, web design, etc. and get paid the same day you deliver work, CloudCrowd is your best option. Any work done by 5pm is paid on the same day. They usually have an abundance of work. You will need a Paypal account to work with CloudCrowd but that is easy to get.
www.WestatHome.com-this company offers paid training for becoming a work from home customer service agent for major corporations. Pay is based on a per call or per minute rate.
-2- Market your expertise for work as a Freelance Writer or Editor
Do you like to write? Are you a great proof reader? Many companies like Odesk, Elance, iWriter, TextBroker of iNeedArticles are some of the best places to start. I have engaged content writers from each of these sources and been pleased with the articles they sent although I did do some rewrite and formatting on all of them.
-3- Market your expertise for work as a Web Designer, Social Media Expert, SEO Expert
If you have skills for building websites, optimizing websites and creating social media pages, you will always find the work you do in high demand. Build your platform to feature your skills and market your service online as well as locally. Local business owners need quality local marketing expertise.
-4- Sell your professional services on your website
Professional services like accounting, coaching, consulting, financial planning, insurance brokering, investment counsel, legal counsel, tax preparation, real estate, and health care are always in high demand. Any expertise that you have can be marketed with a well-written sales page on your own website.
If you want to market your professional services and become highly paid for the service you offer, I recommend that you start by building a good website. In addition to my coaching services, I offer website design and optimization through one of my strategic partner alliances. Please send me an email or fill out a contact form if you are interested in learning more.
Make Money in Online Marketing: Passive Income Opportunities
-1- Market Affiliate Products
I’ve been earning money with affiliate marketing for the past several years. Affiliate marketing is one of my favorite ways to generate income with online marketing.
I listed affiliate marketing under the category of passive income opportunities because once you set up your website and get your affiliate links, all you need to do is market affiliate products on your website pages and posts. Money from affiliate marketing sales comes in 24/7 making it a solid source for earning passive income online.
While it sounds pretty simple and straight forward, you need to learn to do more than pop a few affiliate links on your Twitter and Facebook pages. By using a more strategic approach like learning to build trusting relationships with your website audience, you can make a more consistent income.
To really learn the ins and outs of affiliate marketing, I highly recommend Wealthy Affiliate University. Of all the learning platforms I have reviewed and experienced, Wealthy Affiliate is my top choice. Read my review here.
Listed below are a few top Affiliate Networks:
ClickBank.com: ClickBank is one of the largest online affiliate networks. Tens of thousands of product sponsors and promoters offer affiliate marketing opportunities on ClickBank.
CommissionJunction.com: More than 3,000 prominent brands choose Commission Junction to promote their brand. Top named brands include H&R Block, Home Depot, Turbo Tax and many others.
DirectNetPartners.com: DirectNetPartners is a CPA (Cost per action) network that offers both perfume and cosmetic affiliate programs in addition to other popular items with a relatively high commission for Affiliate Marketers.
PayDot.com: Paydot is a free to join affiliate network built on transparency and trust to help affiliates to monetize their traffic through the use of affiliate links, banners and call to action graphics. Paydot offers a wide selection of merchants for Affiliate Marketers.
Share a Sale.com: ShareASale has been in business for 13 years, exclusively as an Affiliate Marketing Network. With multiple merchants in major industries and fair commissions, ShareASale is a top pick for many Affiliate Marketers.
Many affiliate marketers start making money with online marketing with Amazon. I have not listed Amazon here because although Amazon pays affiliates for any product purchase that customers buy when they click on an affiliate link, the link is only good for twenty four hours and the commission payout is much smaller than other affiliate networks. Also, there are several states in the U.S. that Amazon does not allow because of their state tax code.
For an alternative to Amazon, try LinkShare which is now Rakuten Affiliate Marketing.
-2- Online Advertising
It goes without saying that if you have a website with several pages and posts, a good way to make money in online marketing is with online advertising. While online advertising is simple to set up, don’t expect to earn a big paycheck until you learn how to drive a lot of traffic to your website.
Here are a few top ways to make money with online advertising.
Google Adsense– Online marketers often have more than one website set up with Google Adsense which allows them to earn consistent monthly revenue. I developed two websites and monetized them primarily with affiliate links and Google Adsense. Once they got to where I was consistently earning between $600-900/month, I sold the sites and pocketed a nice profit to put into developing other websites.
Media.net-As Adsense is to Google, Media.net is to Yahoo and Bing. Be prepared, their application process is stiffer and they require a certain number of page views before allowing you to set up an account.
Chitika-Chitika is another source for online advertising revenue. It is similar to Adsense and Media.net although the pay-per-click is lower.
-3- Sponsored Advertising
Once your website is generating consistent monthly traffic you can make money online from home by selling ad space on your website. Getting sponsors to your site is one of the top ways to monetize a website.
Most website owners who monetize with ad sponsors set up a separate page for sponsors that includes advertising guidelines and costs for placing an ad on the site. Charges vary from website to website.
The good thing about that is you get to determine your own rates. Most website owners charge between $25 to $250 per month for ads that vary from small, medium or large.
Check out BuySellAds.com for locating potential website advertisers.
-4- Sell Your Own Information Products Online
Once you get to this stage, the sky is the limit in terms of how much money you can make in online marketing.
I love selling my own products to make money online is because it keeps me in total control. I don’t have to worry about Google changing it’s advertising guidelines. I don’t have to worry about sponsors leaving. And, I don’t have to worry about affiliate networks changing their commission structure.
Once you do the work of creating your own product and writing the sales and marketing copy for it, you can earn money passive income online 24/7.
Let me give you an idea. To make $5,000 per month of passive income, all you need is 185 sales each month for a product that you sell for $27. To get 185 sales a month all you need is 6 sales per day. Not too hard considering that over 3 Billion people are searching the internet daily for solutions to their problems.
-5- Market products to your email list
If you really want to make money online, build a website as your communication hub and add an auto responder and email capture system. Your ability to communicate and follow up with website readers will help you establish trust with your target audience.
When people know you, like you and trust you, they will buy from you. If your audience does not buy from you, you need to work on building a solid relationship with them first. High-quality website content will help you do that.
Check out these email auto responder companies.
As you can see, there are a number of practical ways to make money in online marketing. The best advice I can give you is this…
- Avoid “shiny new objects” internet hype. Making money online consistently is a step-by-step, steady marathon. Be patient. There is no way to sprint a short distance and make life time, steady income within a few weeks of launching a website.
- Hire a coach. You may not need a coach for a long period of time. Sometimes all you need is some quality 1-2-1 time with a business coach who knows the ropes to get you over the short-term hurdles you will face with your new online business.
If you liked this post, be sure to add your comment below and share it with your social network.
I Believe In Your Success!