27/11 5 Ways To Make Money Online

Today is my last day as a 19 year old. It made me reflect on how much I’ve grown as a person and what I’ve accomplished in my life so far. I hate birthdays. They are just a reminder that I’m a year closer to the grave. How many times have you heard someone say “life is too short” but they don’t do anything about it? Well all of us have got bills to pay…so being financially stable is important too.

If you have been reading through some of my posts, you would’ve noticed the inconsistency and flow in the content. I am constantly learning and taking action only to move on to a completely different thing when I find it challenging to continue. So here are 5 ways you can make money online. I’m contemplating on which one to focus on.

1.Affiliate Marketing

All you have to do is promote other people’s products and earn a commission for each sale you make. There are plenty of affiliate networks that you can join for free.

a) Clickbank

Pros: Affiliates earn commissions as high as 75%, anyone can promote the product. No approval required. It is a good starting point for newbies in internet marketing.

Cons: A lot of crappy products. You need to filter through the junk on Clickbank to find something with a high conversion rate. Some of the sales pages look like they were made in the 90s.

How to make money from Clickbank: 

  • Your own website – For example, you have a website in the Golf niche. Post a review of the product and include your affiliate links in the post.
  • Direct linking – Use paid traffic (Bing Ads) to promote the product. Use your affiliate link as the destination URL. Bing Ads is more flexible than Google Adwords and less costly. However, you will not be able to build a list and if someone clicks on your link and decides not to make a purchase, you just wasted your money.
  • Squeeze Page – Instead of sending the visitor directly to the sales page, create a squeeze page to collect their emails and offer them something free in return like  free eBook or report. If they don’t make a purchase the first time they see the product, you would still be able to send out emails to them to promote the product.

My experience with Clickbank: 

  • I created a niche site solely to promote a Clickbank product. I had zero interest in it and I moved on to something else.
  • I tried using the direct linking strategy. It was a waste of time and money. However, it might still work for some people if they find a good product on Clickbank that converts well.
  • I used Get Response for the autoresponder and Instapage to create the landing page.  ClickFunnels is too expensive for my liking and Lead Pages is a better alternative in terms of pricing if you are on a tight budget. If you use ClickFunnels or Lead Pages, you do not have to pay for hosting since they will host the pages for you. This didn’t work out well for me either. I guess it had something to do with the product I was promoting.

In some courses and books, I learned about how to get FREE traffic to your affiliate link and people teach you to do things create a Youtube video to review the product, post on Facebook groups, contribute regularly on Quora/forums and so on. Free traffic seems like the way to go if you’re first starting out but it will take you much longer to see results. I do feel that posting video reviews on Youtube can be effective if your video is ranking well on there.

b) Warrior Plus / JVZoo

Pros: There are a lot of products that you can promote. You can also earn commissions up t0 100%.

Cons: You need to send a request before you can promote any offers on Warrior Plus. The vendor will either approve or deny your request. If you do not have a proven track record, it will be harder for you to get approved. It is highly recommended for you to purchase the product yourself and see if it’s worth promoting it. I like reading the sales pages of WSOs. I can learn a thing or two about writing sales copy. I often find that the sales pages are misleading and they make too many overpromises. Well, there’s always a pool of people who are desperate to learn how to make money online and who knows maybe they can find some value from $10 WSOs. There are also a lot of upsells when you purchase a WSO so that the sellers can make more money on the back end.

As for JVZoo products, they can be very lucrative. Keep an eye out on launches on Warrior Plus and JVZoo by going to muncheye.com

How to make money from Warrior Plus & JVZoo

  • Your own website – Review the WSOs and include the affiliate link in your post
  • Post video reviews on Youtube. Solo ads. Email marketing etc. There are plenty of ways you can promote the offer.

My experience with Warrior Plus

I’ll give this a pass. The MMO niche is too competitive and I am not successful myself. I think promoting products on JVZoo can work really well if I have my own list. I created a separate email account just to receive emails from internet marketers promoting the latest products on JVZoo. The vendors organize contests on JVZoo where they will give out cash prizes to their top affiliates and you can see those IM gurus will battle it out on the leaderboard.

c) Commission Junction / Shareasale

I have never used both of them but they do have a lot of offers for just about any niche.

You can also look out for affiliate programs in your niche by searching in Google “keyword + affiliate program”.

d) Amazon Affiliate Program

Pros: There are a lot of products that you can promote and they tend to have higher conversion rates.

Cons: Commissions are low.

How to make money from Amazon Affiliate Program

  • Your own website – Niche or Authority websites. There are pros and cons for that too.
  • Paid Traffic – Run Facebook ads to a landing page before sending them to the Amazon product page.

My experience with Amazon Affiliate Program

I was reading up about how niche sites are dead and why authority sites are the way to go. Of course, there are other posts out there made by those who favor niche sites more than authority sites. Be it a niche or authority site, if you are making money, that itself is an achievement! The problem about setting up a website to promote Amazon products is the costs of outsourcing content creation which will take up most of my budget. I think that this model might work if

  • The niche is something that I’m passionate about. IMPORTANT
  • I can offer something that sets me apart from my competition
  • I’m willing to put in a lot of effort into this website. From link building to building a presence on social media, it is definitely time consuming at first.

2. E-Commerce

Shopify

a) Drop Shipping

Pros: It is easy to set up a website on Shopify. There are a lot of useful apps (Free & Paid) that you can install to your store. If you do drop shipping, you do not have to pay for inventory upfront and you won’t have to deal with unsold inventory lying around your house. Customer places an order and you receive the payment. You order from the supplier and enter the customer’s shipping information. The supplier will ship directly to your customer. You are just a middle man and all you have to do is drive traffic to your store.

Cons: Slim margins. Long waiting times if you are drop shipping from China. ePacket delivery can take longer than expected. I will always include the shipping times in the product description and that itself can potentially reduce conversions on the site. Would you rather have someone not make a purchase because they are aware of the shipping time or deal with refunds/chargebacks because the product they ordered take too long to arrive?

You do not have control on your inventory so quality issues can arise. Even if you know how to drive traffic to your store, you just won half the battle. The next stage is to convert visitors into buyers. Be prepared to spend most of your money on Facebook advertising. Anyone else in the world can sell the same product you are selling so how can you stand out from your competition? The only way you can do that is to build a brand and creating a brand requires a lot more investment in advertising. Free+Shipping used to be a popular strategy and I think it’s not as effective as it used to be. You also need to have a good understanding on Facebook ads.

How to make money from Dropshipping

  • Profit = Revenue – Costs
  • Costs may consist of the Shopify subscription plan, paid Shopify apps, Facebook advertising/paid traffic, refunds and cost of goods.

My experience with Dropshipping

My customers did not complain about the long shipping times. It took about 2 to 3 weeks for the product to reach from China to US. I picked the wrong niche. I have another post on that topic.

b) Print On Demand

Pros: You can stand out from your competition because of the unique shirt designs. Also, you can expand your product line by selling mugs, necklaces, leggings and so on.

Cons: Slim margins, especially if you are using Printful. You have to pay someone to do the designs if you do not want to do it yourself. It can be costly. By all means, you can find a designer on Fiverr but you get what you pay for! Don’t expect so much from a $5 design.

How to make money from Print on Demand

  • Profit = Revenue – Costs
  • Costs may consist of the Shopify subscription plan, paid Shopify apps, Facebook advertising/paid traffic, refunds and cost of goods.

My experience with Print on Demand

I subscribed to Tee Spy because I thought that it was a good tool for me to spy on what is selling well in my niche. IMO it was a waste of money. I wasted money getting someone to do the designs for me as I didn’t run ads to those shirts. Poor planning on my part.

I have no experience in using Woo Commerce. Shopify makes it a whole lot easier to set up your store.

c) Amazon FBA

Pros: You can sell on one of the largest online marketplaces in the US. You can also sell on Amazon UK, Germany and so on. Leverage on Amazon’s traffic. Once you ship your goods to Amazon FBA, they will do all the work for you. You have to optimize your listing to rank on Amazon

Cons: You can use Amazon’s PPC to drive traffic to your listing but it can be costly if you do not break even. Amazon FBA is not as easy to get into as compared to a few years ago. Stay away from oversaturated items like garlic press, BBQ gloves, chopping boards etc. You also have to buy GS1 certified UPC codes and that will cost you an addition USD$250 for 5 codes.

How to make money from Amazon FBA

  • Retail arbitrage – Suitable for those who live in countries where Amazon FBA is available. If you don’t have a big budget to go into wholesale/private label, retail arbitrage is the way to go.
  • Online arbitrage – Keep an eye out for deals and promotions. For example, go to slickdeals.com and buy stuff when their prices are low and sell them at a higher price.  You can also do flips on Amazon. Use browser extensions like Keepa, Camel Camel Camel, Invisible Hand and so on. There are paid tools like OAXray and Tactical Arbitrage but their monthly plans are quite costly. However, this method is not a sustainable long-term model. It is not scalable. Plus online retailers may cancel your order if you ship your goods to a prep center. Also, finding a prep center that is located in a sales tax-free state can be a challenging. For instance, Prime Zero Prep has a setup fee.
  • Wholesale – If you are in the US, you can apply for a resellers certificate. However, if you are an international seller, you need to have a business license. In order for me to go into wholesaling, I need to register a business here in SG and the last time I checked it cost about $SGD 200. Some wholesalers might not want to work with you too if they find out that you are selling on Amazon.
  • Private Label – Source your products from Alibaba. Customize the packaging and add a logo to the product. Add value to it if possible. For example, you can go to your competitors’ listing  and read reviews with less than 3 stars to find out what customers are unhappy about and see if you can do anything different with your product. Private label also requires a greater upfront investment to keep the cost per unit low. You can always negotiate the minimum order quantity (MOQ) with your supplier. You might also want to hire a third party inspection company to check your shipment before shipping it to the US. Shipping by air is faster but more expensive.

d) Etsy

I don’t know much about Esty but I found out recently that you can sell digital downloads on their platform. I always thought that Etsy is all about vintage and handmade stuff.

3. CPA Marketing

Pros: You can earn commissions without having to make a sale. For example, you can get paid for each lead when someone submits their email or complete a survey etc.

Cons: Affiliate networks like Max Bounty and Peerfly require a phone interview before they can approve your account.

How to make money from CPA Marketing

  • Free traffic – Youtube, posting on forums, solo ads
  • Paid traffic – Facebook ads but you have to ensure that the commissions you earn is higher than your ad cost
  • Your own website
  • PPV – Some networks require you to make a deposit. They are not cheap.

My experience with CPA Marketing

I have no experience in CPA Marketing. I signed up on Offer Vault to look at the offers available and some of them caught my attention. However, you have to sign up on the respective affiliate networks before you can promote the offer.

4. Kindle Publishing

Outsource the content writing to a ghostwriter. Publish it on Amazon. You get paid royalties of $2.99 per sale. I do not want to read up more about this. Just focus on ONE THING at a time!

5. Stock Trading / Options / Forex

2016 has been a good year for me when it comes to stock trading. I’ve still got lots  to learn. Maybe one day I can be as good as my father 😉 It’s just that I don’t put in much time and effort like he does. So I can’t complain about it either.

There are many other ways you can make money online such as:

  • Freelancing on platforms like Upwork, Freelancer, Textbroker, 99 Designs etc.
  • Paid surves like Toluna, Yougov, Surveyon
  • Fiverr
  • Ebay
  • Grow an Instagram account and be an influencer in your niche
  • The list goes on..

I hope you find this post useful! 🙂

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