Thursday, August 17, 2006

Making Money Online

Would you like to increase your income? Are you looking to expand your clientele base? Thousands of small businesses have been, and are still turning to the Internet to build their companies. True, there have been many dot com failures over the years. However, many of these companies share common marketing and management mistakes. In this article we cover why so many online stores fail and how to avoid such failures, and more important, how you can make money online.
Avoiding the dot com scare
In the late 90's, investors were in a frenzy, investing in dot com businesses. It seemed as if dot com businesses were they wave of the future. However, upon entering the 21st century, investors began pulling out. The profits that they were hoping to receive from their investments did not come. Even big dot com businesses such as Yahoo! began struggling in 2000. To show two of the downfalls of these dot coms, we will use the example of Yahoo.
According to the May 21, 2001 cover story of Business Week, Yahoo’s problems began with poor management decisions. As Ben Elgin worded it in the article, "it [was] the arrogance of success. The Three Amigos [Yang, Koogle, and Mallett] felt invincible and had little incentive to seek talent or advice from outside their brain trust." This leads us to mistake #1 made by so many dot com businesses:

  • Overconfidence and
  • Over looking outside advice

Overconfidence and over looking outside advice has led many a company to its demise. Believing that you can do everything for yourself, is oftentimes a deadly trap. With the large number of other dot com companies succeeding, there is much competition. You need an edge, and the knowledge of how to market and create a hearty revenue online. There are many companies that instruct small businesses like yours on how to improve online business dealings. These companies even offer such services as:
Online marketing assistance, custom professional web site design, and much more. These services, along with a will to make it to the top help businesses like yours to grow and succeed online.
Business Week continues by saying that another of Yahoo’s mistakes, was refusing a merger with eBay. Which according to Elgin, would have been Yahoo’s "second chance." They were too unwilling to look to other companies to help create revenue for themselves. This is mistake #2 made by many dot coms. They do not rely on the many free online services available to create extra revenue.
Unwillingness to rely on other online businesses to make you money is another downfall of those seeking to make a profit online. Too many times, online businesses want to "make it on their own." This is a fallacy that could keep you from tens of thousands of dollars. There are several methods to employ other businesses in your aid, at no cost to your company. Three of these that offer you free marketing or a nice side income are: Google AdSense, Banner ad programs, and Affiliate programs.
Besides these two pitfalls, there are also the usual dangers that all businesses face. Budgeting, managing, offline advertising, customer service etc. have also resulted in the crumble of many online stores, as many of these businesses do not think that normal business practices apply to online sales. Now that we have discussed some of the stumbling blocks of integrating your business online, let’s discuss how you can make more money.
First, a dot com business like any other business needs a stable business structure and strategy. Many businesses going online start up thinking that the Internet automatically makes money for them. This is a fallacy that you cannot fall into. Just as any other business, Internet businesses require time and dedication. In some respects, this is easier if you are an already well established small business. Establishing a strong infrastructure is very important to your company. An organization useful in finding up-to-date business structure information is the SBA (Small Business Association).
Once you have a stable business structure, integrating your company online is much easier. Although selling products online is a major goal of most businesses looking to the Internet for profit, there are also many other online money making methods. Some of these are:

  • Google AdSense
  • Affiliate programs
  • Banner ad programs

So, what is Google AdSense? It is a mutually benefitting offer provided by Google. As Google continues to grow, they are looking to reach more and more people. They are now turning to online businesses to help in this effort. Google offers certain incentives for you to place their ads on your site. Each time that one of your visitors clicks on a Google ad while on your site, you earn money. As marketers everywhere have begun using this great feature, they have found many secrets to receiving more clicks. This relates to more money! One of the tricks to making money with Google AdSense is to direct more traffic to your site. This can be done well through Affiliate Programs and Banner Ad Programs.
Affiliate programs can help you to make money from other companies, as well as direct more customers to your site. Affiliate programs can not only be beneficial to join, but also to create for your own online store. So, how do they work? To be short, if you join an affiliate program, you will generally post your affiliate’s banner on your site, and send out information in your newsletters about their great services. Each time someone clicks on the banner on your site or link from your newsletter and buys a product, you make money.
Although there are thousands of affiliate programs on the Internet today, only a small percentage of them are of worth to you. It is important to find the best affiliate programs available. There are many websites with searchable directories, filled with affiliate programs of all sorts. However, you don’t usually find enough information about the programs from these sites. The key to having success with these programs is to send out as much information about, and as many links for the product/s or service/s offered by your affiliate as possible. Banners, newsletters, and other marketing should always include links to your affiliate.
Now, to create a successful affiliate program, you need to know that it must be worthwhile to those who will sign up. The competition is intense, and other online merchants want to join the best programs. For example, the program for JMSB Web Solutions offers a 10% sales commission on their services. For services that range from $100 to $500, affiliates stand to make $10 - $50 per sale, and just for placing banners and links for their customers to see. To receive the great marketing that having an affiliate program offers, you need to be a little generous without breaking bank.
Banner ad programs are another great way to receive free online marketing. Although online visitors are not quite as apt to click on banners as they once were, banner ad programs can still drive traffic to your site. In a banner ad program, you work through a company that places your banner on other sites, while they place banners from those other sites on your website. There are many of these programs, and some are better than others. It is important to know what you are looking for, because you may not want certain banners posted on your site. Search these programs’ rules and procedures well.
As you can see, there are many ways to increase your revenue through an online store. It is important to remember that you are not only online to sell products, but to take advantage of the exchange of information and services available on the Internet.

As a recap:

  • Avoid thinking that you don’t need outside advice and
  • Avoid thinking that you can do everything on your own
  • Take advantage of other companies online expertise
  • Look into Google AdSense for your business
  • Find an affiliate program or two to make you extra income
  • See if starting an affiliate program for yourself is right for you
  • Learn more about banner ad programs

How To Earn Or Make Money Online?

A little over two years ago I began to look for alternative ways to earn money. This being the age of the internet I of course began my search online. One of the first things I noticed is that there were all sorts of web sites and ads telling me how to earn or make money online. Everything from filling out surveys online, to MLM, to creating websites that earn money. The possibilities were overwhelming and endless.

So how did I come to a conclusion about what I wanted to do? I did some research about the different money making routes available and I finally decided on doing Affiliate Marketing using Google Adwords. The reason I decided on this path was I came across a downloadable e-book called Google Cash by Chris Carpenter. At the time there was an excerpt available that explained how Adwords worked and how I could make money using it.
I went ahead and bought Google Cash and my quest to earn and make money online had begun. The first 3 to 4 months I lost some money but after that I slowly began to see daily and then monthly profits. In 2005 I profited a little over $23,000 and my return on investment (ROI) was just over 100%. That means that for every dollar I spent I made two dollars in return. Not a bad addition to my income from my full time job.
That brings me to today and my quest to earn a living online continues. I have found that there are a few good resources out there to help anyone interested in earning money online. The online business environment is constantly changing and while you can still make money it is hard to keep track of all the changes.
I have found two extremely valuable resources that I highly recommend. Both are from a two man team who has created one of the best affiliate membership sites on the internet today.
Beating Adwords - an up to date e-book that gives step by step instructions and examples on how to successfully set up a Google Adwords campaign.
Wealthy Affiliate - The membership site for Beating Adwords that includes even more information including keyword lists, case studies and a user forum that can’t be beat.
The two guys in question are Carson and Kyle. They are successful affiliate marketers who have taken it upon themselves to help anyone who becomes a member of their Wealthy Affiliate membership site. And by help I mean they will personally coach any member that asks for it.
You will also get invaluable advice from other members who are more than willing to help in the Wealthy Affiliate user forum. These are all people who have succeeded at or are continuing to learn how to earn or make money online.
I joined Wealthy Affiliate back in October of 2005 and bought Beating Adwords soon after that. Since that time using the methods I learned in the e-book and on the Wealthy Affiliate membership site and forum my ROI has increased to the tune of nearly 200%.
If you want to know how to earn or make money online then you can’t go wrong with Beating Adwords or a membership to Wealthy Affiliate. Your success with their help will only be limited by how much work and effort you put into these programs.


Best Internet Marketing Tips

When marketing your business, it is important to have a marketing plan that would spend as little money as possible but get the most benefit. Below are some of the most effective best internet marketing tips to market your business:

You should know what you want. To have inspiring and clear results, decisions can be constantly measure whether it gets closer to the results or not. Your business will be much stronger and enjoyable when your acts, outcomes and your business all come together with a single focus converge around single focus.
Define your entity. When engaging to a business, you are marketing not only your product/service but also your company. It is important to show what do you offer and your vision must penetrate your business and your product/service.
Benefits should be articulated. The most important of your marketing plan must be clearly giving education to your clients about the benefits you offer. These are the most important aspect of any communication that should be explained clearly.
Target Markets should be analyzed. The proper analysis of Target Markets of potential clients will help you focus your marketing.
Review your current marketing tactics and materials then improve them. You have to list all your current process, review your materials, remember the steps you have gone through and identify the common errors that may be present in your materials.
Marketing resources should be built. To build your market, you develop a follow-up system, build a file of testimonials and develop a powerful website. It is important time management priorities be reviewed and reshuffled so that marketing can become central because it is the lifeblood of your business.
Outline your action plans. To outline your action plans, you must have specific goals such as strengthening your relationship with your current clients and gain new clients. Develop ways to connect, deliver benefits and educate about the value of your company.
By implementing these best internet marketing tips you should be able to grow your internet business greatly.