The best way to make money online is to have multiple streams of income, so if one falls away, you still have the others.
The easiest route to making money online is to sell information that people want and need. There are no product creation costs apart from that of your time, or paying someone else to do it for you. And there are almost no delivery costs.
These can be combined, and also include offline products and services.
I’m presuming you’re starting from scratch, with enough money for initial expenses such as hosting, domain name, and autoresponder, and maybe some for buying cheaper digital products such as products with resell rights.
Again, there are 2 approaches to this and again you could combine them.
Sell in many smaller and different niche markets. You need to keep on doing your research as to which niches are best for the products you want sell in them.
You can be in a whole range of niche markets. You might be selling in a health niche, dating niche, pet niche, website traffic niche, and so on.
For each niche you choose, find out what is selling well by your competitors, and what the gaps are in the market. To start with choose a niche you know something about or are prepared to learn about. Let’s take aerobic exercise for the over-50s. I know nothing about this market. I’ll presume there’s a gap in video demonstrations of exercises for that age group. There may be some you see from your research but they’re not very popular and are limited in scope in some way.
You create or have created a video course of specific exercises that are useful for that age group. You set up a website with your keyword in the domain name. You put 10 or more pieces of content on the site, all keyworded to attract traffic. Interlink them, and also to the sales page for your videos.
If you don’t want to create your own products, use affiliate marketing products that fit what people want. Do review articles about them.
Create backlinks from other websites to your content to get the search engines to rank your pages.
You can also build a list of visitors if you have some way of keeping emails being sent to them. Or simply have a short campaign to end up with being sent to your sales pages and/or affiliate offers.
Get this site generating some revenue, learning from any mistakes, and move on to the next niche.
As you can see, there is a lot of work here which might not end up with much revenue from one website. Also, revenue may be limited by affiliate offers giving you only a percentage of the selling price of their product.
You have to build a lot of websites, in different niches to generate a decent income. And it takes time to do that.
Focus on one niche. Choose something you already know something about, if you can. Go into one of the big markets such as health, internet marketing, relationships, and so on. Choose an aspect of it you can aim to be an expert in, in that niche. You do not have to be a total expert, but know more than the average niche member or aim to know more than 90% of them.
To do that read the top books on the topic: print and digital. Get all the information you can by searching for key related ideas in forums, on related websites, and any materials you can buy. There might also be offline magazines you can use.
Now, with one niche you have the power of focus. You can build a list and find out from them what their niche problems are. Then create a product or products to solve them. You can also proactively keep in contact with emails and sell more products later on. Because of that, people are much more likely to buy from you.
This is different from having to have lots of individual sites generating small amounts of revenue, while it’s almost impossible to keep in that sort of contact with so many different niches.
Also, with this focus it is easier to create your own information products. The more you help your subscribers and customers with your informative and practical information, the more they’ll look to you to provide answers and products for them, unique to yourself.
Now, remember we said the best way to make money online is to have multiple streams of income. You can have these in the one niche by:
1 creating a range of stand alone information products covering all aspects of the niche or a focused topic in it.
2 creating ongoing memberships, providing information people need.
3 have a variety of formats for your products, including videos, audios, webinars, instagrams, and combinations of these.
4 create offline products you can send to customers: home study courses, printed ebooks and reports, and all kinds of information sheets and diagrams. In fact, anything you can convert to a hard copy that some people prefer to have offline.
5 services online or offline: any kind of digital support, forums, any done-for-you service such as website set up which can be done for any niche; or a local service, as in dog training, or face to face niche coaching offline.
Therefore, you still have the streams of income but enabled by the niche focus.
Of course, either way, it takes time to build up. In addition, you need enough niche knowledge to be able to provide for customers what they want.
A key is to think long term, and start small but building as fast as you can within any limits you’re working in.
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