This article follows on from my previous article '3 Ways to Make Money Online'. If you have read the previous article, you will know that I have been earning an income online since 1998 and the Internet has provided my only source of income since 2001. The first two ideas have been 'tested' by me extensively and do indeed make money online when executed correctly. Idea three is a new one to me but I think it has potentialâ€¦
Build a newsletter list
Building a newsletter mailing list will usually be something which you have to combine with an existing website. For example if you run a site about selling on eBay, you might have an option for visitors to the site to subscribe to your weekly newsletter which will offer further tips about selling on eBay.
The beauty of having a mailing list is that you have a list of contacts who are interested in your chosen topic and with whom you can build a relationship. Assuming you do this correctly and build trust and confidence, it is possible to end up with a list of people who you can market to with very favourable results.
Of course, when someone visits your website for the first time, you won't have a relationship with them and therefore they have no reason to trust you or even be interested in what you have to offer them. You may therefore have to 'bribe' them into subscribing to your mailing list by giving them an incentive. You can see an example of this on my own site (link in my profile to the right) where I give away a 6 hour audio package to new subscribers.
Once you have a new subscriber, the key to building a good relationship is to send them interesting and helpful emails. If you just bombard your mailing list with sales pitches people will unsubscribe faster than you can say 'junk mail'! I personally recommend just a handful of products a year to my subscribers and they know this so when I give them a recommendation, they take notice and sales follow.
Mailing lists are perfect for product launches etc and over the years most of my new business websites have covered their set up costs within 48 hours purely because of the power of my mailing list.
Sell affiliate products
Selling affiliate products involves marketing someone else's products in return for a commission on sales. These days almost everything you see for sale online will have an affiliate program lurking in the background and this includes anything from eBooks to software to clothes to electrical goods to healthcare products.
As is often the case, there are countless different ways of marketing affiliate products but one of the quickest and easiest ways is to set up your own website marketing just one or two products. You can find companies offering affiliate deals at websites such as Clickbank or Commission Junction. Personally I like the digital products offered by Clickbank purely because the commission on sales tends to be higher but you may prefer something with a lower commission which sells in higher quantities.
Once you have your product, build a website and drive traffic to it. If you don't have any existing sites which you can divert traffic from, you can buy advertising from Google Adwords or similar. If you choose to go down this route, keep a very close eye on costs as they can rise very quickly especially if you are advertising on popular keywords. The good thing about using Google Adwords is that you can see very quickly if your advertising campaign is going to be effective. If you make $50 commission on one sale and you spend 25cents getting each visitor to your site, you must make a sale every 200 visitors just to breakeven.
The main benefit of marketing affiliate products is that you don't have to spend time developing the product yourself, you can put all of your effort into marketing and getting the sales.
Writing articles for Info Barrel
As I mentioned at the start of this article, I am a complete newbie to writing on Info Barrel or similar sites but I can see the potential and I am hoping that in a few months time I can recommend this site as a great online money maker.
The idea behind Info Barrel is simple. Writers contribute articles (such as this one) and Info Barrel makes them available for viewing on their website. When someone views the article, they are also shown a selection of adverts ranging from Google Adsense to Amazon adverts. If a reader decides to click on an advert or make a purchase, Info Barrel shares the resulting commission with the article writer and the writers share can be up to 90%.
Why is Info Barrel such a hot prospect? Well, there are other similar sites around but Info Barrel is currently growing at a rapid rate and their top writers are earning very worthwhile amounts of money each month. As the site receives better rankings in Google and other search engines and as traffic grows, this income should continue to increase. Fingers crossed!