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Five Ways to Make Money Online

Updated: Nov 28, 2022



Author: Barbara Barilová

Connect with Barbara

Date of Publication: 26/11/2022




There are five strategic ways to make money online.

The Internet is one of the world's most revolutionary inventions. Not only because it puts all the world's information at your fingertips, but also because it provides opportunities that previous generations only dreamed of. One of them is the freedom and opportunity to make money through the Internet. However, the only remaining question is how to make money on the Internet and what all you need to do it.


1. Start blogging and monetize your blog

Understandably, in any list about how to make money online, blogging shouldn't be missing. In particular, the important thing when you start blogging is monetizing your blog. The truth is that blogging as such won't earn you a lot money, because nobody will ever pay you for the articles you publish on your site. But, there are important things that you will earn. For example, it’s selling your own products and services. This is what will primarily earn you money when blogging. All you will need is to come up with a product or service that is in demand and sells well over the internet. You can also sell advertising space. This is one of the oldest ways of earning since mass media has existed and you can also use it because your blog can be a highly visited medium with a specific target audience. This means that companies interested in reaching that target audience could pay you for advertising space. You can also use affiliate marketing. Yet you don't only have to sell your own products/services, but also products/services of other companies as long as you get a certain commission for them. Last thing that you can do is sell premium content. If you have something to write about and can provide valuable information, you don't have to give it all away for free. Actually, you can make specific advice, techniques or advanced strategies available to paying customers whether in the form of subscriptions, online courses or ebooks. When selling, however, be aware that some forms of earning will earn you more, some less, and some not at all. You can take inspiration from abroad, but not everything has to work equally well for you.


2. Become an influencer

An influencer is a person who has the power to influence people's buying decisions because of many reasons. For example, some of them are their authority, knowledge, position or the relationship they have built with those people. Influencers often have their own platform (blog, YouTube channel, fanpage with a large number of subscribers) and their fans trust them enough to give them a recommendation. Compared to traditional (mass) forms of marketing, influencers have the advantage of being able to reach a targeted group of people. Thus they increase the effectiveness of the marketing activities of various companies that approach them with an offer to collaborate. The sectors that are most worthwhile for you are: fashion, beauty, fitness, travel, lifestyle. As an influencer, you can make a lot of money. For instance, for one Instagram post, influencers routinely charge between €100 and €400. If you're in demand, you can get 5000+ euros for bigger collaborations.


3. Adsense advertising

Adsense is Google's advertising system where you can show Google advertising on your website, blog or YouTube channel. Of course, Google will pay you money for it. However, it's important to note that you won't earn much with this form of monetization. This is unless you have a huge amount of traffic to your site or viewership of your YouTube channel. And by huge, I mean in the hundreds of thousands to millions of views per month.


4. Selling your services (freelancing or consulting)

Compared to other forms of making money online, this is the fastest, easiest and can be quite profitable. You can even make money from home this way. You just need to create a website, put subpages of your services on it, promote it a bit and hope to get your first clients. You don't have to create a physical product, as the service primarily depends on your know-how and expertise. Actually, you can tailor it to the needs of a specific client. It can be anything, for example online marketing consulting, website development, coaching, interior design or wedding planning. If you're starting from scratch or miss portfolio samples or a website, try to compensate with an interesting way to reach them. Don't be afraid to do something for free to get started.


5. Affiliate marketing

If you have your own site with good traffic or a database, affiliate marketing will help you monetize your website. This involves recommending products or services of other companies, for which you receive a certain commission. The amount of commission can be either individually agreed or determined by the company in its affiliate program. So, if you want to get started with affiliate marketing, you basically need:

  • an overview of web development and traffic generation (SEO, PPC, email marketing)

  • search for affiliate programs and choose the appropriate area


Something will work for you more, something less, something not at all. The important thing is to quit what is just a sucker for your money as soon as possible and strengthen what works. If something works less, that doesn't mean you should stop it. Even smaller earnings, such as from Adsense advertising, can be used to fund your effective marketing activities and not just be taken as a form of earnings.


 

Reference List:

1. https://www.shopify.com/blog/make-money-blogging

2. https://wpastra.com/blogging/make-money-with-a-blog/

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