If you’re angling to earn money online
but aren’t sure where to start, here are several of the best and most realistic
strategies to consider:
Google Adsense
If you've visited any website, you've
seen Google ads. These ads are everywhere, and for good reason. Not only are
they easy to set up on any basic website, but they can be lucrative once your
website starts bringing in a steady amount of traffic.
One of the cool things about Google
AdSense is that it's so easy to get set up. If you have a blog or website, you
can sign up for a free Google AdSense Account. From there, Google will give you
a unique code that you will paste onto your website. Google takes it from
there, tracking your page views, traffic, and earnings on your behalf. There is
no upkeep or maintenance to get this thing going, which makes it a no-brainer
if you have a website already.
How much will you make? I think my
best month with Google AdSense was almost $5,000 over the last ten years. That
amazing month blew my mind since it was actually near the beginning of my
blogging journey. When you go from making zero to $5,000 in a month that will
rock your world. For me, it also got me even more excited because I knew there
were other ways to monetize.
Affiliate
Marketing
Whether you have a website or are
still dreaming up ideas for a blog, you can also look into affiliate marketing.
With affiliate marketing, you partner with brands and businesses within the
content of your website. If you mention a product or service, you link to that
produce or service using a unique affiliate code you received when you signed
up for that particular affiliate program. From there, you’ll make money any time
someone buys a product or service through your link.
Generally speaking, you’ll want to
partner with affiliates that are related to your blog concept. Since I’m a
financial advisor, I have focused a lot of my affiliate energy on financial
products like savings accounts, credit cards, and investment accounts.
In addition to signing up for
individual affiliate programs, you can also sign up for an affiliate ad network
that offers a ton of different affiliates in one place. That way, you can see
what works and what doesn’t work over time.
If you’re looking for inspiration, my
friend Michelle Schroeder-Gardner of the website Making Sense of Sense has
become the expert on all things affiliate marketing. Michelle earns more than
$100,000 per month from her blog and the bulk of her income comes from
affiliate sales. Michelle has had so much success with affiliate marketing that
she even has her own course called Making Sense of Affiliate Marketing.
While Michelle works with a ton of
affiliates in the financial services industry, one of her biggest affiliates is
a blog hosting company called Bluehost. This just goes to show that you can
make money with nearly any affiliate company or product if you know your
audience and build up enough traffic to create sales.
Consulting
Another way to make money online is
via consulting. If you’re an expert in any field, you could potentially find
people willing to pay you to counsel them on their personal or business goals.
You might think you’re not important enough to consult for big companies, but
you could be surprised at the types of expertise people will pay for.
My colleague Robert Farrington of The
College Investor is a good example of someone who consulted online on the side
in an unlikely industry. Robert told me that, after he had been blogging for a
few years, a couple of brands reached out to him to ask him for help with
social media and online marketing.
Robert said he did an average of 4-6
of these gigs per year for a while depending on his schedule and the work
involved. The best part is, he charged a flat rate that usually worked out to
around $100 per hour. And remember, this was pay he was earning to advise
people on the best ways to use social media tools like Facebook and Pinterest
to grow their brands.
If you want to start consulting but
aren’t sure what steps to take next, you can also set up a free account through
Clarity.fm. This website lets anyone who wants to offer consulting set up a
free profile. Once your profile is set up, people will find you and book a
session you’ll get paid for.
Online Courses
If you have any skill you can teach
others, it’s also possible to set up an online course you can market online.
You can find online courses that teach anything from cooking to marketing or
even freelance writing. Heck, I even offer my own course for financial advisors
who want to take their businesses online— The Online Advisor Growth
Formula.
Last year, I profiled my friend Joseph
Michael of Easy Course Creation. Michael offers several different courses,
including courses on a writing software called “Scrivener.” Over the years,
Michael has earned six figures or more annually selling courses that help
people achieve the kind of success he has earned.
Most people set up their online course
through a platform like Teachable.com. With Teachable, you can upload your
course materials and use the platform to manage customers and accept payments.
Freelance Writing
If you have writing skills and
creative talent, it’s also possible to get paid to create online content. I
don’t do this as much as I used to, but I am very aware of how viable this
income stream is.
One blogger I know, Holly Johnson,
actually makes over $200,000 per year creating content for other websites. And
actually, that’s on top of the six figures she earns with her blog, Club
Thrifty. Holly told me she started writing content in 2011. At the time, she
still worked a full-time job but created content online part-time to supplement
her income. Over time, she was able to double and triple her rates until she
could quit her full-time job to write. These days, she makes bank as a
freelance writer and teaches others to do the same via her online course, Earn
More Writing.
According to Johnson, the key to
making it as a freelance writer is figuring out a niche, networking with people
who might hire you, and delivering high quality content 100 percent of the
time. While there are a ton of writing job boards to help you get started, she
says it’s fairly easy to find starter writing jobs on websites like Upwork.com.
Webinars
Need more ideas on how to make money
online? Another strategy is using webinars to market your product, service, or
course. I’ve done webinars to promote my financial planning practice and to
drum up interest in my online course for financial advisors. With a webinar,
you’re basically offering a lot of tips and advice for free — usually in a live
format. At the end though, you pitch your paid product or service with the goal
of securing a few deals.
Professional speaker Grant Baldwin
uses webinars to market his courses on public speaking, including Get Booked
and Paid to Speak. While Baldwin offers plenty of free tips during his webinar,
he offers his course at the end for people who want to pay to learn more. And,
a lot of times, his sales pitch works.
No matter what you’re selling, it’s
not that hard to set up a webinar and attract people to sign up with a lead
magnet or Facebook ads. Heck, you can probably find a free webinar on how to
create your first webinar if you look hard enough.
YouTube
YouTube is another platform that has
made it possible for people to earn money online. There are a ton of YouTube
channels out there on any topic if you can think of, and most of the people
with a big following are earning some money in exchange for their videos and
time.
Marine officer turned men's fashion
expert, Antonio Centeno has built a million dollar business from his YouTube
channel, Real Men Real Style.
Last year, Forbes profiled some of the
biggest players in the YouTube scene. According to the study, the top ten
biggest grossing YouTube stars brought in $127 million from June 2016 to June
2017. The most popular, a gamer named DanTDM, earned $16.5 million of that on
his own.
Will you earn that much? Probably not.
However, you can start making money via YouTube using the platform’s own ad
network or by getting sponsored posts. If you like doing videos, starting a
YouTube channel can a fun way to earn some cash on the side.
Build an Online
Community
Last but not least, you can also earn
money online by building an online community, although the monetization
strategies you can pursue will vary a lot depending on your goals. You can
build a community with a blog, for example. You can also build an online forum
and charge people for membership. You could even build up a Facebook group and
use your influence there to sell and promote products.
My good friends Shane and Jocelyn Sams
have become experts in building online communities. They have one right now for their website –
Flipped Lifestyle. This community shows people how to create an online business
and connects entrepreneurs who are pursuing similar dreams.
There are a ridiculous number of ways
to make money online and the ones I’ve covered here are just the tip of the
iceberg. If you have time, a passion for almost anything, and at least some
creative skill, you may be able to build an online income stream — or several —
if you give it enough time.
But, don’t just take my word for it.
If you look online, you’ll find thousands of success stories you can use for
inspiration.
One day you could even create a success story of your own. But you’ll never know unless you try.
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