Since I started doing online marketing, lots of my friends are curious and still have no idea what it is all about. In this post, I would like to take this opportunity to elaborate more about online marketing and run through a few of the popular monetization business model.
What Is Online Marketing?
Online marketing is a type of marketing that is done online via internet. There are tons of big offline companies such as Walmart, Apple, etc…heavily involving in online marketing to complement its offline business. I know, we are just a normal human instead of those big companies. So, how does a person make money online? There are a number of business model as shown below:
1. Sell Your Own Product
The easiest way to create your own product is to create a digital product. This can be a video, audio or ebook. The key is to create a product that can help people to cure their pain. In other words, you need to identify a market where tons of people are actively looking for solution to their problems (pain is better as they need to cure it immediately). The more people you can help, the more money you will generate. If you know ways to lose 10kg in 30 days you can create an ebook and that becomes your product. The great thing is you now can sell unlimited copies (hey it is digital copies), as long as your ebook is in demand.
2. Affiliate Marketing
I know you might say that you are not a good writer and have no specific knowledge in any subjects (well, I really doubt that though) and hence product creation is not your cup of tea. Well, that’s why I would like to show you the 2nd type of model, which is affiliate marketing. It involves marketing of products that belong to others.
All you do is to identify a great product that converts well and help to market the product. When people buy the product via your link, you will get paid a commission that can be up to 100%. Yes, the commission can go up to 100% and I am not kidding. The reason for the product owner to give out 100% of the commission is that they would like his affiliate team to market his product like crazy while he can build a list of buyers and sell them via his back end funnel.
So, by now you should know that product owners have the advantage to tap on tons of affiliates to help marketing his product while he can focus on others. However, still it is a win-win situation for both affiliate and product owners.
Apart from digital product, you can also market physical products belong to others while you can paid via commission.
I’ve listed out a number of the popular platforms for you to join to promote as affiliate below:
The first 3 platforms are mainly for digital products, CJ contains a mixture of physical and digital products and amazon only focus on physical products.
You can sell advertisement space if your websites attract lots of traffic. Some of the long banner at the high traffic sites can cost a few hundreds dollars a day. If you are just starting out, your website might not compete to those high traffic sites but still you can get an account with Google Adsense or Kontera to have some ads displayed on your site. When visitors click the ads, you will get paid. You can easily start a blog with WordPress. If you would like detailed step by step learning to master WordPress, you can check out these 30 WordPress Tutorial videos.
4. Sell Your Online Asset – Website
Site flipping is getting popular nowadays. If you head down to flippa, you will see the total sale is close to 60 Million and the total sales in the last 7 days is around 0.5 million. The websites you build online becomes your asset. If your site generates income every month, you can expect to sell it at around 10 times of the income generated. The price to earning ratio is about 10 (but in months instead of years as you have seen in the share market).
The above mentioned are the popular monetization methods in online marketing and that is how you can make money via online marketing.
Which monetization methods are you focusing on? Or which type would you love to focus on? Feel free to drop me a comment below to share your experience.