Why Is Making Money Online Compelling?
The search terms “Make Money Online” and “How To Make Money Online” have huge search volumes. I guess the reason is simple, e-commerce is gaining huge traction, online adoption is prevalent and technology is enabling people to easily try out online presence to “sell something”.
And while you are googling, you may come across many websites and internet marketing gurus touting huge successes from doing internet marketing and perhaps “selling” you their secret blueprint and programs.
There are definitely many true success stories to tell.
What I want to caution against is the get-rich-quick promises, promising that you only have to follow a proven formula and very soon you will be enjoying life at the beach, with totally passive income coming from your online venture working 24 x 7, 365 days for you. That comes later, you need a system to do it right.
Proper Online Business Structure
The starting point for any business (be it offline or online) is the same. You have a product or service, there is a market demand for it (be it a want or need) and you try to create awareness and establish your branding such that people do business with you.
Making money online you need to know the marketing techniques though (and it is called internet marketing or digital marketing quite interchangeably). You can refer to the Essential Guides, a few skill sets knowing website design, Google ads, Facebook ads, search engine optimization (SEO), social media marketing, email marketing etc are required.
It begins with identifying the niche market you are going after in a 5-step IEAP process.
Market research refers to understanding the niche target segment, who are the customers, their demographics, how big is the market, the keyword research etc. This is a crucial step and sometimes at this stage, you may decide to abandon the project because the niche may not be profitable.
You then need to plan your website or sometimes all it takes is a good Facebook page, or a YouTube channel or an Instagram account, though a website is usually a necessary element.
Next you design your marketing plans, in terms of paid ads, blog articles to build subject matter authority, SEO to generate organic traffic, develop Facebook page followers, email marketing to build up a good database etc etc. Not all have to be done, while there should be emphasis on some as your business develops.
Below is a screen-shot of leads coming to a landing page of one of my websites, where I promote as an affiliate marketer for a financial education course through just SEO (organic Google search traffic) which is totally free of charge after you set it up properly. I only need 1 or 2 sales conversions from these highly qualified leads to earn extra thousand dollars per month, and quite passively.
Finally, in order that internet marketing income is more like passive income, you should automate your sales funnel and activities. For example, email campaigns can be set up once and be put on auto-pilot (read How To Do Email Marketing).
I should emphasize that the most important step is identifying your niche market. As you take some time building up your online business, hopefully the product or service you are promoting is an area you are familiar with or a hobby or interest area you are passionate about. I have an article Affiliate Marketing Niche Ideas you can further refer to.
You may encounter obstacles along the way, but have the perseverance to do one niche well and as you build up your customer database, you may target the same base for similar or related products and services.
A Proven & Systematic Success Formula
Making money online is both easy and difficult. It is difficult if you don’t have a mentor or coach and you have to pick up the knowledge and figure out the key success factors on your own.
It is easier if you have a proven success formula or blueprint to guide you along.
An internet business also offers a number of benefits:
- start-up cost is usually lower
- you can sell other vendors’ products through affiliate marketing or drop shipping without taking on inventory and product development
- you can take care of your online business literally from anywhere, any time
- after initial work, efforts can progressively become more passive and maintenance mode
There are also a number of ways to make money online:
- e-commerce website selling your own products
- e-commerce website selling other vendors’ products, known as drop shipping
- niche website doing affiliate marketing
- blogging website earning advertising revenue, monetizing blog traffic
- YouTube channel or Instagram account, becoming influencer and monetizing through sponsorships
Launch of SkillsFuture Credit Claimable Internet Entrepreneur Accelerator Program
My name is Liong Hai and I have been involved in online business, internet marketing and digital marketing for the last 5 years. I have invested thousands of dollars in a few courses (some are good, some are practically useless). With successes, I started to teach my circle of friends first free of charge, then had a soft launch.
Please read more details of Internet Entrepreneur Accelerator Program (IEAP) and the student testimonials. We are also happy that IEAP is SkillsFuture credit claimable.
We only have 5 more seats left for October intake, so please leverage on SkillsFuture credit OR sign up before 15 September 2018 to enjoy 20% discount.
My aim is to assist the students succeed and I have great confidence in the quality of the materials taught. I have also lined up superb post-course support for you so that you know you will get help after the 2-day hands-on course.