We’re visiting this topic again since it’s one of the more useful topics I’ve written about. The interest in how to make money online fast probably won’t wane anytime soon. The market for online products and services is still fluid and very profitable.
You have probably realized that web traffic is the “raw material” for any online business. As with any raw material, once you have enough of it you can convert it into income. How you convert it depends on your skills and creativity.
Take Google for example. They basically “harvest” their earnings from the ads displayed to the people who use their free service. Social Networks also earn from the traffic generated on their site. They’ve gone a bit further though by creating a “walled garden” – or what’s known as a captive market.
1st Step: Choose your Target Niche or Market
- Pick an area of knowledge where you have usable expertise or experience
- You can choose to sell a specific software, online app or product that will cater to your chosen niche.
2nd Step: Choose your monetization plan or business model
- Create a mailing list for sales purposes.
- Sell your software outright or go the “Freemium” route – the software or service is free but availing more advanced features and premium services will require a purchase or subscription.
- Advertise on your site via AdSense or other ad serving companies.
- Affiliate Marketing through your site.
3rd Step: Build your Website
- Furnish it with content relevant to your niche/market or customers.
- If selling a product, include a way to contact support and a knowledgebase.
- Setup your shopping cart or merchant system.
- Register with your chosen ad company and embed it on your site.
- For affiliate marketers, ensure that your product links are configured properly so you don’t miss a sale.
4th Step: Grow your Traffic Fast
- Ensure that all popular social sharing buttons are available on your site.
- Buy Solo Ads.
- Apply all acceptable SEO strategies on your site.
- Do keyword research on your niche and base your topics on the most searched terms with the least competition.
- Purchase pay-per-click ads on Google and Facebook.
- Avail of targeted traffic promotions.
5th Step: Apply monetization plan or business model
- Start marketing to your mailing list or if you have a large enough list, sell solo ads.
- Introduce new products periodically on your merchant site.
- For freemium software or services, provide consistent updates and additional features.
6th Step: Review & Fine tune your overall strategy
- Always keep on top of your sales figures.
- Monitor your traffic and find out which channel is the most profitable then increase your investment in that method.
- Don’t be afraid to try out new methods of generating traffic for your site. Just make sure its compatible with your customer base.
- Keep tabs on the conversion rate too. You might be getting a ton of traffic but none of them maybe interested in what you’re offering. If this is the case try to source more targeted traffic.
7th Step: Automate or Delegate
- As much as possible, document all your processes especially the ones that can be delegated.
- Hire staff that can assume the day to day running of your online business.
- If you’re primary selling point is content then hire reliable and knowledgeable writers for your blog.
- The time you free up by automating your operations should be used for more important tasks like business development, product improvement or marketing.
8th Step: Expand and repeat process
- Study which steps work for your online business and apply the lessons to your new one.
- You might want to expand to markets that are related to your initial niche. Food equipment is a logical choice if your first successful site focused on food.
- For software vendors, you might want to offer your it on different platforms.
Traffic to your site is the fuel that keeps it profitable. So you should be focusing on getting the number of visitors up. The more traffic you get the more opportunities for you to sell, gain a follower or a referral.