What are practical ways to earn money online?
Payments
Asked by Question Bot07/Apr/20131 answer
1 Answer
F
Faisal Khan
Answered 07/Apr/2013
Making money online is the question that everyone is asking themselves in some form or another. Everyday.
People do make money online. Some start with Affiliate Marketing, some people sell their own products/services, other try to get into the CPA, or arbitrage market. Do all such people make money? honestly, in my opinion no. Many will spend a lot of money, in the quest to make a sustainable online business. Some give up, others keep up at it. Easier said then done is the lesson learned.
Perseverance does eventually pay off. Some people who opted for affiliate marketing, end up setting up a store to sell their own products. Some end up as service providers, providing content (writing) services or SEO, or ebooks authoring, etc. Many people I have talked to make an income alright, but is it serious income (as you put it)? For most - it is anything but serious.
Very few people actually succeed in making mega bucks online. Those who do, are very quiet about it and keep on working at it. Economies of scale are in their favor. They have deep pockets of money to spend, to acquire/hire the resources they need to keep adding to the overall bottomline. You and I usually do not have such a luxury.
I wrote an answer on Quora Can you really make significant money using affiliate marketing?, that does not go well with many so called pundits who are trying to befool people in believing that Affiliate Marketing is where the money is. You can read it and draw your own judgement.
Coming to your reference, so in the PPC/Arbitrage/CPA game you have to be quite smart to make money. Google and others, keep changing the rules, so that the spread is minimal. CPA is a highly competitive market these-a-days as the barrier to entry are low.
The highest success rate I have seen for people who do make money are those that have honed their skills into a service (article writing, SEO services, Backlinking services, content writing, PLR based ebooks, etc.) or those that have settled down on a few products and sell them online (be it their own products or ones they have drop shipped).
If you want to do CPA, be cognizant of the fact that literally 1000s of people will try to sell you a tool/foolproof solution on how to make $1000s / day with their software / system for $27 only. Doh!
The notion that it takes money to make money is true, but as I cited the barrier to entry in this market is so low, so anyone with a few $100s or even a few $1000s thinks he/she can crack the system and have a go at it. The fact of the matter is, you may be a very astute business person in real-life, but the sheer number of business oriented people from all over the world, makes it an extremely competitive playing field.
In the online world, it is all about traffic. You get traffic, you get sales. You can have the best product / service, etc. - - - but if you don't have traffic (read: targeted visitors), you will most likely not see any earnings at all.
Sometimes spending $100 in PPC to make an affiliate sale of $120 make sense and seems like a no brainer, but the fact of the matter is, the system doesn't quite behave the way we think it ought to behave. Demand drives up the PPC rates and your income model is all blown to hell.
There is a book recommended by David S. Rose recommended called "Get Rich Click" (a great book to read). One sentence in that book got my attention and I thought I should pass it along:
"Be wary of the so-called experts"
Loosely translated - don't be conned.
Research, and I mean lots of research and understanding is the key to making money online. Experiment with what you can lose. It will surely take quite a few iterations to get it right (a point where many simply give up). However, if you have a nose for finding / sensing opportunity and act fast, money can indeed be made. Decent money.
Very few would actually be blessed to make serious money (IMHO).
People do make money online. Some start with Affiliate Marketing, some people sell their own products/services, other try to get into the CPA, or arbitrage market. Do all such people make money? honestly, in my opinion no. Many will spend a lot of money, in the quest to make a sustainable online business. Some give up, others keep up at it. Easier said then done is the lesson learned.
Perseverance does eventually pay off. Some people who opted for affiliate marketing, end up setting up a store to sell their own products. Some end up as service providers, providing content (writing) services or SEO, or ebooks authoring, etc. Many people I have talked to make an income alright, but is it serious income (as you put it)? For most - it is anything but serious.
Very few people actually succeed in making mega bucks online. Those who do, are very quiet about it and keep on working at it. Economies of scale are in their favor. They have deep pockets of money to spend, to acquire/hire the resources they need to keep adding to the overall bottomline. You and I usually do not have such a luxury.
I wrote an answer on Quora Can you really make significant money using affiliate marketing?, that does not go well with many so called pundits who are trying to befool people in believing that Affiliate Marketing is where the money is. You can read it and draw your own judgement.
Coming to your reference, so in the PPC/Arbitrage/CPA game you have to be quite smart to make money. Google and others, keep changing the rules, so that the spread is minimal. CPA is a highly competitive market these-a-days as the barrier to entry are low.
The highest success rate I have seen for people who do make money are those that have honed their skills into a service (article writing, SEO services, Backlinking services, content writing, PLR based ebooks, etc.) or those that have settled down on a few products and sell them online (be it their own products or ones they have drop shipped).
If you want to do CPA, be cognizant of the fact that literally 1000s of people will try to sell you a tool/foolproof solution on how to make $1000s / day with their software / system for $27 only. Doh!
The notion that it takes money to make money is true, but as I cited the barrier to entry in this market is so low, so anyone with a few $100s or even a few $1000s thinks he/she can crack the system and have a go at it. The fact of the matter is, you may be a very astute business person in real-life, but the sheer number of business oriented people from all over the world, makes it an extremely competitive playing field.
In the online world, it is all about traffic. You get traffic, you get sales. You can have the best product / service, etc. - - - but if you don't have traffic (read: targeted visitors), you will most likely not see any earnings at all.
Sometimes spending $100 in PPC to make an affiliate sale of $120 make sense and seems like a no brainer, but the fact of the matter is, the system doesn't quite behave the way we think it ought to behave. Demand drives up the PPC rates and your income model is all blown to hell.
There is a book recommended by David S. Rose recommended called "Get Rich Click" (a great book to read). One sentence in that book got my attention and I thought I should pass it along:
"Be wary of the so-called experts"
Loosely translated - don't be conned.
Research, and I mean lots of research and understanding is the key to making money online. Experiment with what you can lose. It will surely take quite a few iterations to get it right (a point where many simply give up). However, if you have a nose for finding / sensing opportunity and act fast, money can indeed be made. Decent money.
Very few would actually be blessed to make serious money (IMHO).