Searhing for “how to make money online” on Google is probably the most common way for people to start their online money making adventure.
I know it was for me 🙂
Trouble is there is so much misleading content out there to lead any new marketer astray and suck the newcomer into a black whole of Shiny New Object and Push Button Magic.
And unfortunately many, many people has lost their way in the black hole and given up.
The truth is making money online is
…really simple in theory but very complicated in reality. There are a lot of moving parts, that is one thing, but there are also the whole how to think and act in the online marketing world to actually reach your goals.
They say 80-90% is mindset and I think that is very true. There is a learning curve to master making money online and you need to know what you are up against in you own mind. If you want to get clarity on how your mind learns read: How To Learn online marketing
But that being said, this blog post is about giving you the simple theory of what it is all about. What options/roads do you have and how you should evaluate which one is for you.
Then in an upcoming post we can dive into the marketing mindset and skillsets so you get the inner tools to get where you want to go.
The Simple Theory of Making Money Online
There are only 3 parts to making money online:
1) A product to sell
2) People who want to buy the product
3) A means to present the product to the people in a way that makes then buy
Not that complicated, right?
Now, to break it down a bit further…
The product can be:
A) A physical product (like a dress or an iPad)
B) A virtual product (something you can’t touch like software, a service or an online course)
C) It can be a product you have created yourself and sell for a profit
D) Or, it can be other people’s products that you promote for a commission (affiliate marketing
It becomes a bit more complicated when it comes to who wants to buy the product
First you need to determine what niche or category the product belongs to (like Technology for bike lovers or the pet category). Even those can be broken down into sub niches.
The most profitable niches online are those that solve a big pressing pain or problem for the person (like how to lose weight, how to be a better parent or how to make money online)
Why is that important? Because when you know the niche, you can find who has the pain or problem the product solves and then present the product to the people (the right target market)
The means to present the product to the right target market is also a bit more complicated
We need 3 things to make it work:
1) You need a platform to showcase the product (like a web shop, a sales page or an online marketplace e.g. Amazon.com). The platform needs to be able to collect the payment, deliver the product and pay out a commission if you are not the product owner.
2) You need to address the right people (target market) and send them to the product/offer via links directly to the sales page or shop or via your affiliate link – if you chose the commission based road (a traffic system like Google or FB ads or blog posts etc.)
3) You need a way to contact the same person more than once, because people most often need to see an offer several times and in different ways before they decide to buy (like an list of emails for potential buyers)
So… Now that you have the big overview of how money is made online (and of cause there are many more details under the hood)
What do you do from here?
First you need to decide if making money online is actually something you want to do. Knowing there is not quick fix get rich overnight magic push button – it actually takes time and work. Do you still want to do it?
Then you need to decide what kind of product you want to sell – physical or virtual.
You also need to decide if you want to create the product yourself or you want to do commission based selling (e.g. affiliate marketing)
That is How to make money online in a nutshell, if you want to know what to do from here, I suggest subscribing to this blog as I will go into depth of the rest of the moving parts in the posts to come.
Put your name and email in the lets connect box at the top right of the page and I’ll send you an email whenever I create a new blog post with a marketing story you can (L)earn from.
Also, let me know in the comments below if you choose to move forward learning how to make money online and what type of product you would like to sell – I’ll make sure to read and reply with a tip or two to get started.