How to Make Money Online

Flip domain names. Domain names are valuable internet real estate and some people actually make a nice living off of buying and selling them. One strategy is to use Google Adwords to find keywords that are trending and use that information to buy domain names that you think may soon be in demand. However, since short, snappy, or straightforward domain names have already been mostly snatched up, you can also get lucky buying domain names that are random acronyms, as you never know when a person or company with those exact initials will decide to set up a website. (CPC.com, for example, sold for over $200,000 when Contract Pharmaceutical Corporation decided to go online.

Become an affiliate marketer. This is a great way to make money for promoting someone else’s products or services without having to carry any inventory. Affiliate advertisements are usually incorporated into your website/blog/page via linked articles (great when your content is strong and compelling, but must be done carefully to avoid looking spammy), product-placement videos (great if you’re funny or have performance talent), or, less and less commonly, banner ads (pretty ineffective, as most people avoid these like the plague). If necessary, you can also become an affiliate marketer without a website (by posting videos on YouTube containing links to the product, for example). Check out a site like Commission Junction for possible products and services.

• If you have a lot of traffic, you might want to do cost-per-click advertising, which doesn’t earn you much per click but banks on the fact that the sheer number of visitors will build your revenue.
• If you have very strong content, you might want to do cost-per-acquisition advertising, which makes you a decent commission (either a fixed amount or a commission, depending on what you’ve pre-agreed to) every time someone on your site makes a purchase with your affiliate company.

Make a good first impression no matter which type of online endeavor you attempt. As with any business, your brand (web site, store, virtual portfolio etc.) must grab the prospects attention, enticing and encouraging him/her to learn more. A strong brand should include intelligently and insightfully written copy, a description of your offering, product overview, news and information and numerous opportunities to respond (call to action).

• Differentiate your product/service from the competition. Consider what makes your business unique by focusing on the brand, the specific suite of services and how the product or service will solve the customer’s problem. Punctuate these differentiating factors in order to set your brand apart from the rest.
• Maintain a friendly, approachable tone. You want to invite your customer to interact with you so be sure that while the copy on your site or portfolio should be informative, it should also communicate a friendly tone that will motivate communication and interaction with your customers.
• Have a solid contract with your partner company. Enlist the assistance of an attorney or have a lawyer review your partner company’s contract so you know how you will be paid and the basis for payment (for example if it based on produced work, solid sales, sign ups, conversions, referrals, etc.).
• Follow up with clients after an initial interaction. Because you haven’t had the benefit of face-to-face meeting, you will need to be proactive (but not a stalker) online. After an initial meeting with a client, send a thank you email a few days later to remind the client about your meeting. Open the floor to additional questions and let your prospective client know you are excited about the possibility of serving him/her.
• Make sure you have the dedication and focus to work independently. If you plan to make your online money making endeavor a success, you must have what it takes to manage your time and be dedicated to your craft.
• Examine your financial needs. Do you need to make a large income or are you interested in making money online just to have some mad money? The level of required income will most likely dictate the amount of time and effort you’ll need to spend making your online business a success.
• Evaluate the amount of time you can dedicate to your online business. Are you a stay-at-home mom with two small children and a demanding school and housekeeping schedule or are you single with no strings attached (or somewhere in between)? Identify the hours during the day you can commit to your business and compare those hours to the amount of money you need to make. Typically, especially with some businesses, the earlier months and years are considerably more time consuming, especially if you are building a client list.
• Be honest about your work habits. Are you a self starter, motivated enough to stay on task and work without having a boss check on you, or are you easily distracted by the phone, kids or other environmental disturbances? Working online takes a tremendous amount of motivation and focus in order to reach your cash generating goals.

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