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Different ways to make money online

Today I’m going to detail some of the different ways to make money online, which will hopefully give you a better understanding of several different methods and enable you to choose one that best suits you.I’ll list them according to different categories and in no particular order, but please keep in mind these are just a few methods and there are many, many more out there!

(1) Affiliate marketing

the art of seperating people from their money! Affiliate marketing is simply selling someone elses product for a commission.The biggest platform used by affiliate marketers and product creators is clickbank.

You can simply join,find a product to promote then get paid when people purchase that product. There actually is a lot of money to be made from affiliate marketing, however most people don’t understand the effort that needs to be put in to succeed.

The problem most people have with this method is they do not understand how to promote it effectively. You need to understand about many methods of traffic generation, testing and tweaking ads, and understand how to calculate how much your traffic is earning you against how much it is actually costing you. The smart operators will build a very effective sales funnel, some of which involves capturing leads in their autoresponder (so they have a list of subscribers they can email any offer to in the future), setting up blogs or even blog networks, testing ads using PPC (pay per click – google adwords is an example) and scaling everything up when they find something profitable. These people often go on to create their own courses and products which other affiliates promote and end up earning more. Unfortunately it seems to create a vicious cycle where people who want to get into affiliate marketing and learn more about it end up always buying products instead of actually selling them!

(2) PTC (Paid To Click) sites

This is where I make a lot of my money. Advertisers pay to have their ad shown on a PTC (paid to click) site and that revenue is shared with the members who view that ad. If you are conscientous about it, you could probably make 50 cents per day! Yes you read correctly, 50 cents per day. This is why a lot of people don’t think it’s worth their time because they are simply looking at how much they make from their own clicks without seeing the bigger picture. If these sites are willing to pay us a little bit each time someone we refer clicks an ad, then the income can easily surpass 4 figures each month.

Think about it – it’s easy to recruit because people don’t need to spend money, you can get paid to show people how to earn money AND most importantly if you set up your advertising and promoting in an effective manner, then you can be building a large email subscriber list too. If you have built a list of subscribers it opens up a world of possibilities because you can email them about any opportunity at any time. It’s important to establish a customer base in whatever you do and you can see exactly how I did it by looking at mypromoting page.There are many PTC sites on the internet at the moment and it can be very difficult to sort through which are good and which are bad.

I wrote a post about PTC scam sites not so long ago and also one about How to choose a good PTC site. The ones I use are listed throughout the blog.

(3) Paid Surveys

For some people “Online Survey” is a smart ways to make money online and for some it is a nightmare. Yes it can be a nightmare if you are not careful in choosing survey sites that are legitimate. There are notorious sites that would charge you subscription fee and will disappear. Always remember any fee as up front have chances of being scam sites and they just want to run away with your money. On the other hand, you might come across sites that will ask you fill the survey and shop online to get rewards, remember such sites only require new leads and you would have to extract a lot of them to get to the ones that would really pay you.

But the real question here is, are their legitimate sites? Yes, there are definitely genuine online survey sites that pay you in cash or rewards. The best way to avoid scam is just not to get registered with sites that ask for signup fee. With genuine sites you are sure to make money, but bear in mind you cannot make a living taking up surveys and no site would pay you XXX money for just filling out surveys.
But of course, you can make handsome supplementary income of 1$ to 10$ in an hour time. So to make your work easier in locating legitimate site, I have taken a comprehensive list of Top 20 Online Survey Sites that actually pay and is worth your time!

(4) MLM (Multi level marketing)

Multi level marketing is where you receive commissions not only from the sales your recruits generate, but also on their recruits and their recruits recruits and so on down the line according to that particular companies pay plan. Some examples of MLM opportunites around at the moment are GDI (Global Domains International), Global NPN and Trafficwave.

If MLM works, then why do so many fail at it? Becuase they struggle with promoting and recruiting. A lot of people will join hoping that their sponsor does all the recruiting for them and then quit a few months later when they haven’t made money. The more enthusiastic will join and quickly build a large number of recruits to their chosen program, only to watch those recruits do nothing. Mr. Enthusiastic can’t recruit enough so that everyone gets a downline so it reaches the point where more people are leaving than there are joining. Now if Mr. Enthusiastic knew how to show his referrals how to do exactly what he did, then you have a very successful formula.

Do team builds work?

They can if done correctly. A team build is where a team of people will all be promoting for the team. As new recruits sign up they will be assigned to a particular team member according to the team rules. A lot of teams use the NIL (next in line) method, meaning each new sign up goes onto a waiting list and as more recruits join they move up the list.For the most part, team builds benefit those higher up (ie. the first ones to join) more than anyone else. Team builds also do not overcome the inherent problem with MLM which is they need a constant flow of new recruits in order for everyone to make money. Momentum gained can quickly be lost as people start to drop out because it has taken a few months to get sign ups. Often they end up with more people dropping out than there are joining.

How to be successful with MLM ?

The first thing to look for is the product offering. If people are getting value for their money from the product alone, they are less likely to drop out. If we use Trafficwave as an example, I would happily pay $17.95 every month for the autoresponder whether I had recruits under me or not.The next is to look at how long the business has been around, their history of paying on time and also the reputation of the site owner(s). Once something has ticked all of those boxes, then it’s time to look at the compensation plan. The best thing to do here is simply compare it to other similarly priced opportunities and have a look at how much of the incoming money is returned to members in the form of commissions.As far as recruiting goes, my personal preference would be to start an advertising co-op. This is where all members money is pooled together to purchase advertising for the team. New recruits are distributed according to team rules, and as more recruits join, more money will be put into the advertising pool. This method does involve a bit of work for the team leader as far as collecting money for the co-op and finding, testing, tracking and tweaking advertising methods and places. This is actually something I may consider doing in the future.

(5) Blogging

There are millions of blogs on the internet and it is a great way to earn additional income. Simply find a topic you know a bit about and start writing…….well not quite. First you need to understand how SEO works, you’ll need to do keyword research, you’ll need to know about social media and how to integrate it into your blog and THEN you start writing! Of course this is after you’ve sorted out domain names, hosting, wordpress etc.

All of the above is why so many people simply give up too soon with blogging. I actually class myself as a rookie blogger. I did a bit of research for a week and then started to put my blog together. It’s still a long way from where I want it to be and I still have a lot more to learn about SEO and other things such as social media, but the difference is I didn’t give up. At the time of writing my blog has only been online for less than 2 weeks and I certainly don’t expect to be able to make a cent out of it for several months yet.When I say making money out of my blog I am not referring to people signing up for my programs. I’m actually talking about selling advertising space on my blog. I don’t plan to do it for a little while yet as I need to build up my content, page rank, traffic and expand my knowledge a little further. When I do start to sell advertising space, it will probably still be some time before I crack 3 figure monthly earnings with it. That’s also where a lot of people give up, they put in all the work and don’t make money fast enough so they quit. It is like any business where you need to build it, refine it and grow it and your earnings will slowly grow with it as well.

(6) Investment programs and software

I’m sure you’ve seen several advertisements for different FOREX (foreign exchange) programs, systems and software. These are the most common of the investment programs. Some of them want you to buy their fully automated software and others want you to send them money with the promise of some very attractive returns.There is no substitute for a good education. No investment should be entered into without first having a reasonable understanding of it. For this reason, I advise to be very cautious if you are looking to get involved with this. Sure, you could buy some software and invest some money and have the software makes all of your trades for you. But what if you need to deviate from the strategy the software is set to? Could you even recognise when you would need to do this? Does the software take into account your risk profile and how aggressively you wish to trade? It actually creates more questions than answers. Probably the biggest question is why is somebody willing to sell me their software which makes them $2746.83 per day? And why are they willing to sell it to me for $50?I’m not saying all FOREX and investment software is bad. I’m sure there are some decent ones out there that are just a victim of the way the others are advertised. I believe however, that having the knowledge and understanding of FOREX markets before investing is the most important thing. A good software program should be able to work in conjunction with your own knowledge, and should also be highly customisable to your particular investment approach.

What about the investment programs?

Most of these will fall into the HYIP (high yield investment program) category. These are very high risk and you have a strong chance of losing your money before realising the promised gains. If someone is offering to double your money in a month with their “secret investment strategy”, then why do they need your money? Surely if they are able to double their money in a month they would be living very comfortably in their palace by the beach without any financial concerns whatsoever. Some of these programs will pay for a short time before eventually succumbing to the over inflated returns they promise. Most of them rely on new people coming in and investing money with them because they simply cannot keep up with their promised returns otherwise. This is effectively a ponzi scheme which can last, but will eventually reach a point where there is not enough new money coming in to pay the returns to the other investors. If you do choose to get involved with any of these type of programs, do so only with money you can afford to lose because there is a good chance you will lose it. Make sure you get your seed money (original investment) back as soon as possible so after that if you wish to continue gambling you can do so with your earnings rather than your own money.

The bottom line

Whatever type of online business you decide to join, you will need to do research and understand how everything works and how best to utilise whatever tools or software you decide to use. All businesses need time and money to be built into something profitable and there are very few exceptions to this rule. In most cases if some slick advert is telling you they will give you the recipe to make easy money overnight then you are about to spend money to learn a valuable lesson, which is that it just doesn’t happen that way too often. Time, money and learning will get you success. Stick with whatever you decide to do and learn how to get better at it. Build an email list so if you do change strategies you have customers ready who you can promote to.

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