9 Ways to Make Your Online Business Make More Money
9 Ways to Make Your Online Business Make More Money
If you’re an online marketer, you’re probably a self-starter who takes pride in being driven as you try to build a successful business. But even people who are very productive and have no trouble learning the ropes can have trouble making as much money as they could.
Usually, niche marketers will throw themselves into the tasks given to them in order to finish a business model. For example, they might start by starting a blog as an affiliate marketer or making an information product that they sell on a third-party platform.
What they don’t know is that there are other ways for them to make more money and put it in their bank account. Most of these options don’t take much extra work, but you have to turn them on for them to help you.
Here are nine different ways to quickly make more money and get ahead of the competition. With this extra money, you can outsource or delegate tasks you no longer want to do, reinvest in your business by buying new tools and taking new classes, or just use it to improve your lifestyle in any way you see fit.
Continue to recruit affiliates.
There are a lot of people who make digital info products online because they want to share what they know with other people. This is a good way to make money in a lot of different business niches.
You can make a digital course about how to grow tomatoes, how to lose weight, how to start an online business, how to take care of your pet, how to keep your body from getting old quickly, and many other things.
Most people who make digital products focus on coming up with ideas that will sell, making sure the information is complete and useful for the buyer and learning how to put the pieces together technically so that the course can go live and people can buy it.
What you might be missing is one of the most profitable parts of your job as a creator of information products. Just having a JV (joint venture) page is not enough to give you a strong affiliate marketing strategy.
You need to find the best affiliates in your niche and keep in touch with them so they’ll sign up to promote your product when it comes out. This not only makes you more money right away, but it also adds a lot of people to your list from whom you can make money in the future.
For this simple tip to work, you need to be strategic about how you look for and talk to potential affiliates. You should look at leaderboards, and launch lists (which are made up of your competitors), and ask other people who they think would be the best affiliates to work with.
You need to spend a little time getting to know what they promote, how they promote (so you can give them all the ready-made materials they need), and what kind of perks they want if they agree to send their list to your offer. Then you need to give them what they want.
Don’t think that making a JV page and hoping the right people sign up will be enough. Unless you have built an amazing reputation for your brand, chances are it will get ignored unless you are proactive in targeting the right affiliates.
Set up a contest for your new products
If you want to make more money from your online business, you can also make sure to hold contests every time you release a new product. Affiliates who work online have access to launch calendars that let them choose which promotions to take part in based on whether or not the vendor is giving away money.
If you’ve never held a launch contest before, there are a few things you should keep in mind so that you don’t ruin your reputation. First of all, you should always make sure you have enough money to pay out the prize money at the end of the launch.
There’s nothing worse than an affiliate working hard to promote you and help you make sales, but not getting paid because you spent the money that should have been their reward.
You can stop this from happening by setting minimums for the prizes. For example, the prize for the first place might be $500, but the affiliate must have made at least 100 sales.
Make sure you leave enough money in your online accounts to pay out the prizes as the money comes in. So, if you know you need to give out $750 in prize money and have already received $2,000, you should only take out $1,250 and leave the rest in your account to send to the winners.
Don’t have a contest where the only prize is bragging rights. Both you and the affiliate will feel bad about this. The prizes should ideally be cash, but sometimes vendors will offer things like laptops, smartphones, or even a trip somewhere.
If you do offer vacations or products, you should also have a cash prize that is the same value as the other prize if they don’t want it. You will have to decide if your contest is based on the number of sales someone makes, such as 100 total sales, or on the amount of money they make, such as $2,500.
Because they pushed the upgrade offers in your funnel hard, you could have a winner with fewer sales but more money. All of this can be determined when you technically set up the contest on the platform of your choice.
You want the prizes to be worth it for an affiliate to sign up. Most of the time, a $25 prize for first place is not enough to get top affiliates to join. At the same time, you don’t have to give away $10,000 for a simple eBook course that you sell for $17.
During your launch, you can have more than one contest. You could have one for the first 24 hours, the last 24 hours, or in the middle to help boost sales that aren’t going as well.
Check old posts for links that lead to sales.
If you want to make more money from your online work, you might want to spend some time going back and making sure that every piece of content you have published for your brand has the best chance of making money.
Chances are when you first started out, you forgot to add things like links to your own products, offers that you are an affiliate for, and even banner ads that could be strategically placed in the content to help you make more money.
Some people might only want to go back a week or two to check their content, but for SEO, you will want to go all the way back to the beginning.
Older content may have had a better chance of being indexed and ranked in search engine results pages (SERPs) than newer content that may not have been crawled by search bots yet.
Now is a good time to check for broken links or old links that lead to products you may no longer want to promote. Sign in to your blog’s dashboard and start with the very first post. Then, work your way up to the most recent posts.
You should make sure that each blog post has links to your own products or those for which you are an affiliate. If you don’t see any ways to make money on that post right now, you might need to add a little text.
You want to do the same thing with any kind of online media. This could mean going back to old YouTube videos or podcast episodes to add information about how they could make you money.
You can also double-check your social media posts on Facebook, Instagram, TikTok, Pinterest, and other sites to make sure they are all monetized and that you haven’t missed anything.
You should also check your email autoresponder system if you send follow-up emails to your subscribers in small amounts over time. Make sure the information in all of your emails is current and up-to-date, and find a way to make money from each one, whether it’s a link to one of your own products or an affiliate link for someone else’s.
Make sure your subscribers get special deals.
If you want a quick and easy way to make more money online, all you have to do is look at your competitors. In your niche, your competitors will be putting out products that you can promote as an affiliate.
Most people who make digital information products launch a course or membership program, which may or may not do well at first. After the first release, the product is often put on the back burner, where it doesn’t make as much money if any.
Many people who make digital information products have to keep putting out new ones to keep making money. You can look through their back catalog to find products they’ve made in the past that you think will help your subscribers.
Talk to these vendors and see if they can set up a special deal for your list. This can be for a promotion that lasts forever, like a blog post review, or it can be a temporary promo code that they set up for you that you can email to your list.
Sometimes, they’ll put the price back to what it was when it first came out for you, which can be a big deal for your subscribers. Sometimes, they’ll take more than one of their products, bundle it with others they have, and give a discount on the whole thing.
Some people who make digital information products take them off the market once the launch period is over. They might take it out of the vault for a short sale every so often, and they might be able to set up something similar for you and your list.
Allow advertisers to use your content.
You can make money from your online business in another easy way by letting sponsors use your content to promote themselves. You should choose carefully who to let sponsor your content.
It’s clear that you don’t want to let anything bad or offensive in. The sponsor should fit with the niche market you are in, if possible. If your niche is all about how to stay young, it wouldn’t make sense to have a sponsor in the toy niche.
When you let sponsors put ads in your content, they can do so with text, images, videos, or words. All of this depends on where your content is hosted and what makes the most sense.
For example, if you have a podcast and want sponsors to advertise on it, that will be a verbal ad placement that is spoken at the beginning, middle, or end of the podcast.
If you let someone sponsor your TikTok account, you’ll usually make short videos for their brand and upload them to your channel. You can let people know it’s a paid post by adding text and hashtags to the video.
You can do the same on other social media sites, like Instagram, Snapchat, and even YouTube. You might be able to charge different amounts depending on where the sponsored ad is or how long or big it is.
Turn on Creator Funds as often as you can.
Many social media sites have built-in funds for content creators that you can use if you are good at making content. Not only do you need valuable content that people want to watch, listen to, or read, but you also need to put out content regularly.
If you have a lot of followers on social media, they will usually ask you to join their creator incentive program. Most of the time, these don’t make money right away for small accounts, but if you have a big following, you can make a lot of money.
Instagram is now owned by Facebook, but both sites, as well as Snapchat, Pinterest, TikTok, YouTube, Spotify, and Twitch, offer rewards. Go to the social media site of your choice and look to see if they have a program to reward creators. If they do, find out what you need to do to join.
You should also make certain that you are adhering to any rules they have established so that you do not lose your account and are no longer able to earn money on their platform.
Then, start looking into strategies that are legal and honest (and allowed by the platform) that will help you get more views on your content on these social networking sites and, in the end, make more money.
Host live events and make money from your knowledge.
If you like hosting live events on your social media channels, you might want to use this skill to help you make more money with them. TikTok is probably the best example of a social networking app that lets creators go live and make money from it.
With at least 1,000 followers, you can start going live on this app to your followers and end up in the feed of people who don’t know you yet as they scroll through their “For You” page.
If you are hosting a live event that is fun or interesting, they can send you gifts or give you tips at that time. You can also put strategic, monetized links in your bio that people can click on when you tell them to check out something.
Many people make a lot of money with live TikTok streams by doing nothing more than making arts and crafts, scratching off lottery tickets, eating in front of the camera while talking to a friend over lunch, or giving great insight about a specific niche topic.
Before you start making your own live events, make sure you check out what other people are doing on the app. That way, you can beat the competition by making something more interesting for viewers and knowing how to avoid trolls.
With the goal of making pure money, you can flip private label rights.
If you have space online, like a blog on a domain you own or profiles, pages, and channels on social media, you can use what is called “private label rights” (PLR) content to make money without doing the work yourself.
You want to find a PLR producer whose style is similar to what you already put on your accounts. So, you won’t have to change much, if anything. You can get a great return on your investment by using the content and adding your own affiliate links or links to your products.
The cost of private label rights is low, and you can find content in many different media formats. Text PLR is the most common, but you can also find images like social posters, video PLR, and even audio content that you can claim as your own and sell in any way you want.