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Hello Wealth Builders!
You will find a lot of articles about budgeting or how to save money here at WealthBuilderTips because they are the foundation of financial freedom, but having a budget that is in tip-top condition is only half of the story.
I Don’t Make Enough Money – Help!
Sometimes, no matter how good our budget is if our pay is simply not enough or we don’t have any then we will still struggle big time.
I remember the time when we migrated to Canada from the Philippines. My parents can’t get a job because Canada does not recognize their diploma and job experience. As a result, we end up “homeless”. We first live with our relative but we rented a really small basement where I and my 2 siblings share one bed later. We try to live as frugal as we can yet our living condition didn’t improve.
I know single moms in my local church doing 2 to 3 jobs just to support their kids. I have friends who became parents unexpectedly before they are financially ready. I have relatives who got into a big debt forcing them to file for bankruptcy and although they change their lifestyle, they still can’t get a break because their income is just not enough. And there are my college classmates who incurred huge student debt yet can’t find a job so they settle working on a minimum paying job.
In these cases, just being frugal or having a good budget is not enough on these situations. We need to create multiple income streams if we truly want to get out of the rat cycle, from living paycheque to paycheque.
Earn An Income Using The Internet
One huge advantage we have today here in North America and other developed countries is the internet technology. It honestly boggles my mind that we use the internet in almost every part of our lives imaginable except on generating income. When it comes to generating income, we still prefer to use primitive methods: earning a wage through manual labor.
There are many ways to make money online but today let me teach a simple way. Writing a blog on a topic you are passionate about and monetize it.
Now, the big questions are, “Can people really make money from the internet?” and “How do people make money from blogging?”
Allow me to explain how!
Blogging, An Excellent Source of Income
Luckily, blogging is an easy way to generate extra income. A blog has come a long way since its inception. Blog started to be just and an online journal that people share in the world wide web. However, companies like Google and AOL saw the potential of a blog, and they slowly develop an online economy where blogs became the centerpiece when marketing a product.
What is the Purpose of A Blog?
The goal of a blog is to attract readers by providing them the information they need on a topic that they are interested in. A properly written blog should be able to give first-time readers a reason to come back to the site to consume more contents eventually turning them into subscribers . Each blog should also be able to convert readers, both old and new, into customers by effectively guiding them through the different stages of a sales funnel.
How Do People Make Money From Blogging?
Bloggers make money by advertising and selling niche-specific products and/or services on their blog. They usually write contents to inform or entertain their readers then share to them what products and services they are using to achieve the results that they got. Finally, they do a “call to action” asking their readers to buy the product that they used.
Bloggers give out a link, affiliate link, of the product or services they are selling during a “call to action”. Readers are re-directed to an online store where they can buy the product when they click the link. Bloggers earn a commission for every successful transaction. This type of business model is affiliate marketing.
What is Affiliate Marketing?
Affiliate Marketing is the bread and butter of bloggers, actually bread and butter for most online entrepreneurs. Believe it or not, even online-rebate-site giants such as Ebates, Swagbucks, and JoinHoney uses affiliate marketing models in their business.
Affiliate marketing is defined by dictionary.com as, “a marketing arrangement by which an online retailer pays a commission to an external website for traffic or sales generated from its referrals”.
Affiliate marketing is a commission based business model just like the one you encounter in the mall, car dealership, real estate, etc
You can say bloggers are just sales people that make money when they sell a product except they do their business entirely online. Other differences between a traditional salesperson and an affiliate marketer are as follows:
- Affiliate marketers have more than a billion potential customers! Basically, every internet users are their potential customers.
- Affiliate marketers can target the people that they will do business with using Search Engine Optimization (S.E.O.) and/or Search Engine Marketing (S.E.M.). Usually, they will engage those who are already interested in the product or services they are selling.
- Affiliate marketers do not need to say their sales pitch over and over again. They just need to publish their articles once and make it reach to the people who are interested.
Still Confused How Affiliate Marketing Works? Check Out This Explanation From Wealthy Affiliate
How to Become An Affiliate Marketer?
Method 1: Signing Up With Big Online Stores
The best and most effective way for traditional or “offline” companies to sell their merchandises is through their salesmen and saleswomen. It is no different for companies selling their products online. They need people to market their product and in this case, they rely on bloggers, YouTubers, and social media influencers to market their product.
Amazon and eBay are two of the biggest players in e-commerce in the United States. They have millions of buyers and sellers here in North America and they sell countless merchandises and they all rely on affiliate marketing to sell their products. Both companies have their own affiliate program that bloggers can sign up for. Once registered, all they need to do is to find items that they want to sell then post the affiliate link on their site. As said earlier, they get a commission when their reader buys the using their affiliate link.
Examples Of Big Online Stores With Affiliate Programs
eBay Partner Network
eBay partner network is the affiliate program offered by eBay. It provides bloggers an affiliate link of items they wish to advertise and sell in our blog. eBay pays commission to bloggers when their readers buy an item using the affiliate link that they give.
You think eBay Partner Network is amazing, well let me break this for you – it is only icing on the cake, a cherry on top. Most of us know that Amazon is similar to eBay in terms of business model except it dwarfs eBay in every aspect of the business imaginable.
Amazon has exponentially more merchandise, better customer service, larger customer base, etc. and the great news it is possible to get a commission on all the items you can see in Amazon if you’re able to sell it using Amazon affiliate link provided by Amazon Associates, Amazon’s affiliate network.
Method 2: Signing Up with Affiliate Marketing Network Companies
Companies with smaller online presence rely on affiliate marketing network companies to handle their affiliate marketing. Affiliate marketing networks such as Rakuten, Clickbank, and CJ affiliates curate companies that have affiliate programs. A blogger can sign up to one or all of these sites then look for companies in their niche then apply to become an affiliate partner. Once a blogger meets the minimum requirement of the company they are interested in, affiliate marketing networks will provide the links and banners needed to advertise the product. They will also handle all the transaction. This is convenient because bloggers can be an affiliate to 12 different companies, but they will just need to log into one site, get all the resources they need to market a product in one place and do all their transaction in one account.
Examples of Affiliate Marketing Network
Other Ways To Make Money From Blogging
Method 3: Google Adsense
Google Adsense is owned by Google. It played a major player in shaping how blogs are used today because they are the one of the first company to give compensation to bloggers by showing advertisements to there page.
Unlike affiliate marketing where we only get paid when buys our product, Google Adsense pays us based on how many people saw or how many people engage in the ads Google posts on our site.
Signing up is easy is easy. All we need to do is to head to their site (click here), click the sign-up button and follow the instructions.
Once you finish doing everything that is required, Google Adsense will finally check if your site meets their requirements. If it did then Google Adsense will ahead and start posting ads to your site. At this stage, we do not need to do anything else other than making sure to drive traffic to our site. Google Adsense will hold our payment until it reaches a certain threshold after which we can choose to be paid via our preferred method.
Method 4: Look For Partnership
Another way bloggers monetize their site is to contact individual companies that are in their niche and make an agreement to show their advertisements on their website in exchange for monetary compensation.
This method is better than Google Adsense because the ads that they will show is more streamlined to their niche thus it has a higher rate of conversion. In addition to, the ads are not an eyesore to our readers. The disadvantage of this method is finding a company who is willing to post their ads on a blog site especially if the traffic of the site is still low.
Method 5: Sell Your Own Merchandise
Some bloggers use their blog as a landing and information page. Basically, bloggers will write niche-specific articles that are S.E.O. friendly so targeted people will be able to search the article, read the article and more importantly convert them into buyers. Some bloggers also have different social media accounts that they use to build a large following then they point their followers to their blog to advertise and sell their merchandise
Do You Know Other Ways to Monetize a Blog?
That is all I have for you today. I hope that you have learned something new. Again here are the ways for bloggers to monetize their site:
- Apply for eBay’s or Amazon’s affiliate program then advertise and/or sell their merchandise.
- Apply for Affiliate Network Programs and look for companies that are selling products/services related to your niche. Apply to the company’s affiliate program and advertise it.
- Apply for Google Adsense.
- Look for companies that are willing to pay to advertise on your site
- Sell your own merchandise
Join The Community!
That is all I got for you today! I hope that this article is informative and added value to your life. If you like what you read then please join our community and LIKE our Facebook Page or pin my Pinterest boards
Finally, if you are really serious at making money online, then I recommend that you read my article about Wealthy Affiliate! I love wealthy Affiliate because of the intensive step by step how to become an affiliate marketer training materials and a community that truly responds to questions and encourages others to achieve success. Premium members can also build 25 websites and Wealthy Affiliate can host all 25 websites for as low as $29/month for yearly members.