Discover the simplest way to make money online: promoting affiliate programs. Get your free report here and find out how to make money promoting affiliate programs. It’s free:
There are so many different ways to make money online. In fact, each business is unique, and the way each person who starts a business online is unique. There are, however, only about five basic models you can use to make money online, and each business is built on one of these models. I’ve narrowed them down to five.
You can combine these models into your own unique combination based on your lifestyle. Many programs, especially selling affiliate programs, can be done part time. Regardless of which one of these models you choose, I highly recommend you consider email marketing as the core of your internet marketing plan. Even if you do build a website, only about two percent will visit your website more than one time. Email marketing allows you to recycle your traffic and earn more money with very little extra effort.
Before choosing your business model and building your business, it’s important to make sure that there is a market for what you want to sell. Although it’s beyond the scope of this article to show you how to choose your niche and market, just be aware that you want to make sure that there is a market for your product before creating a product. Otherwise you’ll end up with a product or service you can’t sell.
The most lucrative way to make money online is through either digital or physical products. This way you have a unique product offering that your potential customers can’t get anywhere else. You also take all of the profits for the sales you make minus any expenses you have.
If you sell digital products, you get much higher profit margins. The disadvantage of offering digital products is that digital products are a smaller portion of the overall online business market. Most of the sales made online are for physical products, so you may want to consider selling physical products if you have a good idea for a physical product. Your online offerings can also be an extension of your offline offerings if you sell offline. The internet offers you an opportunity to expand your market.
Even if your service is limited to a certain geographic location because it is offered offline, having a presence online can help you get more customers. Google has replaced the Yellow Pages as the place to find a business, and so if you want to be found now, make sure you set up a Google+ page. Getting listed in Google will go a long way towards helping you promote your services no matter where you are.
If you are a freelancer, it’s even better because you’re not limited to working in one particular area. Instead, you can work from the comfort of home while working with clients from all over the world.
Services work well with product businesses, especially if you perform high ticket coaching, consulting or services because you can offer a low cost product on the front end and then lead your potential customers through a product/service funnel for ever increasing profits. It’s much easier to sell to customers you have already sold to than it is to make cold sales.
3. Affiliate Programs
An affiliate program is where you promote the product of a merchant and share in the commissions. There are many different types of affiliate programs you can promote.
Cost per action allows you to get paid for making referrals to the merchant. This can be as little as 25 cents for referring potential customers to a newsletter to hundreds or even thousands of dollars for getting a lead to take action.
Other affiliate programs include pay per sale where you get a certain percentage of the sale. The best affiliate programs for this model are memberships of some form because you can earn commissions on a monthly basis after referring a customer one time. As long as the customer stays a customer, you will continue to get paid. Work once and get paid over and over.
Multilevel marketing (MLM) is where you build a downline of members into your business. Not only do you get paid for sales you make, you also get paid for sales that your members make, and you get paid for referrals.
Although this can be a lucrative business model, it’s probably my least favorite because the products offered aren’t always high quality and the commission structure can sometimes make it difficult for anyone but those on top to make any money. It’s a great opportunity for those who like connecting with others and sharing an opportunity. It also helps if you find a great product you enjoy sharing.
Licensing is where you pay a fee to sell the product of another vendor. This is a lucrative opportunity too because it allows you to sell someone else’s product as your own under what is called “white label.” Although the product appears to be yours, you don’t have to go through all of the product development and testing that is involved. It doesn’t take as long to set up an opportunity like this one because most of the work has already been done for you.
Depending on the opportunity, it may require a large fee up front and then paying a monthly fee. It really depends on the opportunity. It’s important to take the time to research these opportunities and do your due diligence
With affiliate programs you can negate your risk by using affiliate networks like JV Zoo and Clickbank. These sites handle much of the work so they’re an excellent solution for businesses because you can focus on building your business and product offerings. If you want to sell the products of others, it allows you to find products to sell. These sites offer a lot of data on what is selling so you can find proven sellers and not have to worry about getting paid.
Although there are many ways to make money online, these are the most common, easy and lucrative, especially of you want to start a business online. If you’d like to get started earning money online, and you want the simplest model of all, then consider affiliate marketing. It doesn’t cost much money to get started, and it’s easy to start making money quickly. You can get my free report to help you get started today:
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