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Affiliate Marketing Vs. Selling Your Own Product

August 28, 2008

Affiliate marketing involves advertising and selling someone else product. You agree to share the profits of the sale based on a percentage that the product owner decides. There are many advantages to affiliate marketing, but there are also disadvantages. The primary advantages of affiliate marketing are that you don’t have to spend money or time on product development. The owner of the product has already done that. They have already paid for someone to create the sales page and all the graphics. They have either written the book themselves or they have outsourced this to someone as well. This allows you to quickly start selling a product that is already finished and ready to go to market. You also do not have to deal with returns, product complaints or angry customers.

The owner of the product has to do that. You will however, have money deducted from your affiliate checks if people ask for refund. But you will not have to actually worry about getting them their money back or dealing with their complaints. This may not always be the case. People may complain to you if they didn’t like a product that you endorsed. Simply refer them to the product owner.



There is a down side to affiliate marketing. The major disadvantages are that there is a real possibility that you can be ripped off. You can spend a lot of money advertising a product, only to never receive an affiliate check. You are forced to share the profits that you generate with the product owner. You also can not make changes to the sales page in order to increase conversions. You might find a product on a hot topic, but the sales page sucks which cuts into your conversions. There is really nothing that you can do about it short of contacting the owner and offering to help them with their sales page.


The advantages of owning your own product are that the money that you earn is all yours. You don’t have to share it with anyone else. You can also recruit affiliates to sell your product for you. This allows you to make money without doing any work if you have recruited a sufficient amount of affiliates.


Some of the disadvantages of owning your own product are that you do have to pay for product development. You will have to write, create or outsource the writing of the e-book and the sales page. You also have to deal with refund requests, and complaints.


There are benefits to both being an affiliate marketer, and selling your own product. When deciding which is right for you, consider the money and time that you have available to create your own product if you’re thinking about going that route. For Internet marketing newbies, it is generally best to start with affiliate marketing and to only work with top affiliate companies such as Clickbank, Linkshare and Commission Junction. These affiliate portals have a great reputation for sending out timely payments.

Five Simple Ways to Make Big Money Online

June 28, 2008

Trying to make money online can be a frustrating and humbling experience. All of the advertisements and rumors of making fast cash with minimal work, are well, a bunch of crap. Sure, a few people may have hit pay dirt not doing much but I don’t know any of them. Most of the people I know that are successful online, spend time researching their options, creating a plan and then working that plan. With that being said, there are various ways to earn online. I will discuss some of the best ways below.

1. Affiliate Marketing: Affiliate marketing is a fast way to start making money quickly. Because you don’t have to worry about creating or designing your own product, you can get started quickly. You are a given a link to a completed website and the only thing that you have to do is to promote it. While this used to be far easier a few years ago, it can still be very profitable. It will just take a little bit more work. Consider creating a simple website that provides information on the same topic as the affiliate product you are trying to sell. Be sure to collect email addresses, as you may be able to market other products to this same group. Market affiliate products using articles, social networking sites, forums and pay-per-click.


2. Selling Your Own Product: Selling your product is another great way to make money online. Depending on how you go about your product development, this could be a fast or slow process. One way to speed it up, if this is a concern, is to purchase PLR rights. Often times Private Label Rights come with a ready made website. For a few bucks, you have your very own e-book and website to sell it from. However, this method has its’ disadvantages, namely, other people will be selling the product and perhaps for cheaper. To combat this, consider, re-writing the sales letter and purchasing new graphics. Also add special and unique bonuses to make your offer appear more attractive.

3. Ebay: Many people are still making money on Ebay. Ebay has cracked down on digital products. However, you can still sell them, just put them on CD and send them out. You can also use the classified ad format listing to sell digital products. I use it and have had some success. If you want to sell physical products, find a good drop shipper or wholesaler.



4. Offering Services: If you have a marketable service, this is a good way to make money. Many people make money by writing articles, Press releases and site reviews for other webmasters. Other people offer coding and web design.

5. Blogging: Blogging can be a fun way to make a lot of money. The way to accomplish this is to first, monetize your blog. You can do this by selling affiliate products, your own products, selling advertising space or placing Adsense like ads on your blog. Also be sure to optimize your blog for the search engines just like you would a website. Next you need drive traffic to your blog and develop a following. Writing press releases, articles, joining forums and pay-per-click, are all ways to get traffic to your blog.

Can I Still Make Money By Selling Domain Names?

June 24, 2008

The internet domain name, or the internet website name, is seen as a key success factor for any organization dependent on the internet medium for direct business or marketing purposes. The importance of a good domain name is underlined by the fact that the “right” domain name can not only enhance the brand and prestige of a business enterprise, in much the same manner as a good logo or jingle in the traditional marketing world, but also directly influence the ease of accessibility of a portal by the average customer – thus influencing the probability of earning more business, in much the same way as a well-decorated storefront.

 

Needless to say, the importance of domain names makes them an important commodity in the world of online commerce.

Factors / Forces:

The value or demand of an internet domain name is mainly driven by the following factors:

  1. intuitiveness: thus, “pizza.com” is more attractive than “breadwithtopping.com”

  2. precision: thus, “pizza.com”, as opposed to “this-is-a-pizza-site.com”, is expected to be more valuable

  3. universality: an interesting difference in the forces driving the market for internet domain names, as opposed to traditional markets, is that the value of a domain name likely to be in common or universal demand, as opposed to a niche area, is higher – thus, “pizza.com” is likely to be a good investment!*

 

*In fact, the domain name of www.pizza.com , bought by Chris Clark in the 1994 for $20, fetched the investor in excess of 2.6 million USD in 2007!

 

Strategies:

The strategies employed in this area are primarily dependent on the status of the enterprise – i.e. whether the seller is an individual or a commercial enterprise.

  1. Individual: Typically, an individual will act as the middleman, and may choose to buy a small number of domain names, based on and banking on one’s understanding of future demand. This is similar to the strategy of an individual trader in the world of stock markets, but is relatively less risky as the prices of individual domain names bought are typically not high. The success of this strategy is dependent on the individual choosing a few but high Quality domain names. An example of a successful instance of this individual strategy is that of www.pizza.com mentioned above.

  2. Commercial Enterprise: Commercial enterprises involved in this space act as primarily as wholesale dealers. Thus, these enterprises typically offer a large number of domain names, often multiple variations on each category of domain name or subject, for sale to both individuals as well as organizations. The success of this strategy is dependent on Quantity – the commercial enterprise that is able to acquire and offer a vast permutation of domain names for a given subject is more likely to succeed.

 

The keys to success in the area of selling domain names and making money in the process are, thus, quite like those in any other commercial area, and are greatly influenced by the market forces of supply and demand, not to mention the quality of the entrepreneur’s foresight and ability to predict future trends.

Making Money through Blogs Ideas

June 17, 2008

Let’s consider that you have established a blog. It is popular and you are generating steady and regular traffic to your blog. But utilizing this traffic to generate revenue from your blog may need strategic thinking. The ‘Pay per Click’ option does not always guarantee money and you must adopt an innovative way so that your readers are not crowded by a number of advertisements every time that they visit your site. The approach must be creative and at the some time generate interest among your readers.


Some innovative ideas of generating revenue through blogs could be:


Direct sponsorship from companies: Cut off the intermediaries and contact directly with the companies. If your blog is relevant then companies may be interested in advertising for their newly launched product directly on your website. You can work out some arrangement where the first reader to click on the new product gets a certain discount on a product. This will also ensure reliability and credibility of your website.


Making use of Affiliate programs: Large companies like Citibank, Amazon, etc. run affiliate programs with websites and blogs. This can also be a steady source of income from your blog.


Fund Raising: Help people donate money or goods for a good cause through your website and earn some mullah by the side. It’s simple. In most cases, all you need is to have a space in your blog wherein people can enter a value and hit a button so that the money is transferred to the relevant cause once the user shares the basic money transfer details. This is becoming more and more popular among serious bloggers.


Diversifying: Once your blog earns its name, you can think of diversifying – something as simple as creating customized merchandises reflecting your blog, its nuances and quirky facts. You could design and create mugs, caps, T-Shirts etc and raise money by selling those.


Selling Blogs: Just as people have raised money by selling domain names, many have made good fortunes by selling off their established blogs to renowned companies. You can then move on to a different blog and share your expertise there, earning compensation in return.


Spreading the good word: You can use your blog and your readership to popularize an event or a cause. Reaching an agreement with the relevant parties, where your blog is used to sell an idea or a product can be a lucrative business proposition.


Share your knowledge: Share your learning and your knowledge with the rest of the world. Write a book on your experience of blogging, your advice and tips. Take part in seminars and give lectures to wannabe bloggers. Write in different online and offline forums and earn from sharing your knowledge.


Remember, there is no shortcut to success. If you are good, it will always be easy to generate money from your work – but if you lack the necessary skills to be a successful blogger and thereby generate revenue then probably this is not the field for you. Blogging is easy and fun and needs almost zero monitory investment – but the key lies in your ability to do it well.

Making Money Online Business Ideas

June 11, 2008

With Internet reaching every door, the world of opportunities have broadened. The sky is literally the limit. If you have time to invest, there are opportunities to earn money from the comfort of your home and do business with setups across the world and across continents. The avenues seem easy which in turn means you need to step cautiously. You would not want your time or money that you’ve invested to be futile. So before you explore the money making opportunities, remember to weigh your options and take your pick.


Since there are many options for making money online, it often gets confusing on which option to go for. What would be the best option for you? Would that earn you enough money? So here are some ideas that will come handy when you venture into online businesses:


  1. Create a blog on a topic that you are comfortable with. Give people hints, ideas, reviews and information. Generate regular traffic to your blog and you will be able to get advertisements on a regular basis.

  2. Create a website. Keep it open to people and their ideas. Again the key is to generate traffic. Once you have a steady traffic, earn revenue through advertisements.

  3. Once you have your blog or website up and running, sign up with Google AdSense and pick up relevant advertisements for your website.

  4. You can also explore the pay-per-click business opportunity to generate revenue for your website or blog.

  5. Are you into gaming? There are many websites that give away money daily to winners. From card games to arcade games to puzzle, the winner takes it all. This could also be a good opportunity where you enjoy doing what you are doing and also earn some cash.

  6. Then there are the paid survey options, where you are paid for doing some online surveys for companies. Often they pay you in cash and often in kind. So at the end of the survey, you may have a free laptop or a television.

  7. Dabbling in the field of domain names is also a very lucrative option. People earn hundreds of thousands of dollars by registering domain names at nominal prices and then selling those to companies at high rates. Again deciding on a domain name that may have future requirement is a tricky business and must be well-thought out.

  8. If you are good in numbers, then why stay away from the stock business and trading. From the comfort of your home, play with the finance market and earn your money. It is after all statistics and numbers and if you are good at it then you can look at making some serious money out of it. Remember to learn the tricks of the game first.

  9. Internet mailing and data entry are also common online business ideas.


Whichever option best suits you, is the one you should go for, but remember to learn the tricks of the game before investing serious money.

Do You want to Prosper?

June 1, 2008
I recently joined Prosper, and I don’t know why I did not find it sooner.I am Making Money by giving people $50  loans. The best part is I borrowed the $1000 I am making the loans with.

I could have invested my own money but I wanted to see for myself how the program worked. I plan to pay off
the loan way before the 3 years they are giving me to pay it back at $33 a month.

If you have not heard of Prosper here is the rundown

Prosper, America’s largest people-to-people lending marketplace, was created to make consumer lending more financially and socially rewarding for everyone.

The way Prosper works is intuitive to people who have used an online auction. Instead of listing and bidding on items, people list and bid on loans using Prosper’s online auction platform.
 
People who register as Prosper lenders set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit scores and histories, Prosper lenders can consider borrowers’ personal stories, endorsements from friends, and group affiliations.
 
Borrowers create loan listings for up to $25,000 and set the maximum rate they are willing to pay a lender. Then the auction begins as Prosper lenders can bid down the interest rate. Once the auction ends, Prosper takes the bids with the lowest rates and combines them into one simple loan to the borrower. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrower and lenders.
Prosper is an  online community for lending and borrowing money, with over 720,000 members and $146,000,000 in loans funded on Prosper.

Borrowers enjoy fixed monthly payments, no hidden fees and no pre-payment penalties.
 
Borrowers create a listing and set the interest rate they are willing to pay. Prosper facilitates personal loans, home improvement, auto loans and more.

Lenders place bids as low as $50 toward the loan at the rate they are willing
to receive.

 

Bids with the lowest rates are combined into one simple loan to the borrower.
 
Loan proceeds are deposited directly into your bank account.
Featured on

 

 

Forbes
 
Wired
 
Time
 
Cbs News
 
Economist.com
You  get $25 back as soon as you fund your first loan

Prosper.com

How Not to Make Money

May 28, 2008
There are plenty of ways not to make money on the internet.
I will mention a few but I am sure you can think of many more.
The first One that is a very popular is building a website, submit it to a few places
and you sit back and wait,and you wait,wait some more and get upset
because the sales are not coming in.
It does not work that way, you have to constantly find ways to promote
your site. But you don’t and your site just sits there stagnant.
Another Popular away to not make money award goes to the group of people
who signs up for that great business opportunity and pays their
signup fee and feel so excited because they know the money will
start rolling in. This last on the average for about one month. Then they
quit. Some get upset with their sponsor because they did not make any money.
Hello……The sponsor can’t do your work for you to make the money that you
dreamed of making, you did not put in the work. You thought just signing up
would be enough. It does not work that way.
Not setting goals and establishing a routine can cause you not to make money also.
You have to picture where you want to be in the next 1,5,or 10 years. Be patient
and stick with it and your goals will be realized. Make a list of things you want
to do and follow that. I stick a note on my computer to let me know what I plan
to do for the day.
Remember success will not happen overnight, If there was a get-rich-scheme out here
believe me, I would have found it by now.
To Your SUCCESS!