In todays current situation, many people are starting to look for ways to make extra money.
This may be due to job loss, or simply due to them trying to earn extra money each month to help with bills or even just to live a little better in life.
The internet is full of all kinds of ways to make money, but some are, quite frankly, not all they are cracked up to be.
Many pages on this topic will recommend all kinds of side gigs and business models that are already completely saturated with people or pay a pittance in comparison to the effort required.
The truth of the matter is that making money online takes a certain skill set.
It is all well and good for pages to say, “just do this” or “just do that”
50 ways, 100 ways, to make money online, but how many actually tell you HOW to do it?
Just signing up for a service and expecting money to roll in or to be able to compete with people already established, is quite honestly a pipe dream.
I say this because I did a quick search before starting to write this post and that is all I saw.
You can do this or you can do that.
But I didn’t see any information on exactly how to make money online.
Just a list of links to various services, some of which have already earned a very bad reputation.
Those posts were written simply to rank for keywords.
They don’t actually help people.
They just refer them to other sites.
This post will really tell you how to make money online.
The internet is full of ways to make money online
The basic concept is simple.
Create content —- Find a way to monetize that content —- Get the content in front of as many people as possible.
Attention = Revenue
Below we will look at various types of content, monetization, and promotion, but for now here is a basic example.
Ways To Make Money Online – YouTube Videos
A person may create a YouTube channel focused on a certain topic.
Let’s say a video games channel.
The person will make various videos (Content) based around video game reviews, game play streams, trailers etc.
So long as the channel has at least 1000 subscribers, the video will then be opted into the advertising program and pre-roll ads will be shown at the beginning of the video (Monetization)
The content creator will earn money from the ads. (Usually it is an amount of money per 1000 views, $3 per 1000 views for example)
The content creator will then promote the video by posting it on social media, such as Twitter, and also by asking for likes on the video.
The “likes” help with the video getting even more views from YouTube suggestions.
The more likes the video gets, the more likely YouTube is going to show the video to more people, who may trigger more likes and so the cycle goes.
Some YouTubers will also add sponsored product mentions and also affiliate links to their videos.
Sponsored products are when a company pays the video creator to mention or showcase their product in the video.
Affiliate links are simply links to products in the video description.
So, a video game review may also put an affiliate link in the description that links to Amazon where the viewer can buy the game.
If viewers click on the link and purchase the game from Amazon, the video creator will receive a commission percentage of the sale.
These kind of monetization methods can be applied to many other forms of content besides YouTube videos.
Below we will look at various methods.
Here is a video from the YouTube Creators Channel
Ways To Make Money Online – Content Platforms
There are plenty of people, and even businesses, that earn money online from solely using social media.
There are twitter accounts that post affiliate links all day long.
*I will detail affiliate marketing below
Usually shopping based, these accounts will tweet affiliate links to their followers and utilize hashtags to get those links in front of as many people as possible.
Such an account may be based on home furnishings for example.
The account will tweet out affiliate links to products from places such as Amazon.
Anyone that clicks the link and ends up buying something earns the link poster a commission.
Another method is setting up an account and becoming an “Influencer”
Influencer’s build up large followings and then charge companies for sponsored posts.
For example, a lot of fitness models on Instagram will post a picture of a health supplement every few posts.
It may just be a picture of the supplement or it may be of the model posing with the supplement.
The post text will usually read something like.
“Every morning I have such and such protein powder supplement”
That’s all there is to it.
The post will get shown to their followers and if they hit like then Instagram algorithm will show it to even more people as it trends.
The company wins because their product is being shown to huge amounts of people.
The model wins because they get paid significant amounts of money each time they post.
If you do a google search you will find that some fitness models earn $30k per post and others are paid on a monthly basis for x amount of posts per month.
Think I’m joking?
Look into it.
The key to social media is building a following and promoting products to them.
It might be Twitter, Facebook, Instagram, or any other social media platform.
The concept is the same.
Content — Monetize — Promote
A tried and tested method of making money online is a blog.
A blog is simply a website with dated posts rather than just static pages.
A blogger may create content every day, once per week, or whatever they feel like doing.
A static page site tends to be uploaded and then left unaltered for long periods of time.
A news site or daily fitness topic site would usually be in blog form.
A restaurants website would usually be a static page site that only changes slightly and occasionally, perhaps things like updates to the menu.
The concept for blogging is to create interesting content, monetize it via affiliate links, ads, or custom products, then promote it on social media.
The good thing with blogs is that, besides social media exposure, the content can also rank in search engines such as Google.
So, someone can search for information on a topic and the blog will appear in google search results.
Again, the more people that view the content, the greater the chance of earning money from the monetization that has been implemented.
I have written an article on how to start a blog and the things you need to consider
I covered this in the example above so I will only briefly touch upon it again here.
A person creates a channel and starts creating and uploading videos.
They develop a following via subscribers to the channel and also by promoting on social media or on a blog.
They monetize the content with pre-roll ads and things such as sponsored content or affiliate links.
Types Of Monetization
The type of ads will vary according to the platform the content is posted on.
Social media is typically sponsored posts or pre-roll ads in the case of video channels.
Blogs usually have ad panels that display ads on their sites.
But they can also do sponsored posts in some cases.
Video platforms usually have a advertisers program that the content creators can opt into.
YouTube has the YouTube partners program.
A channel opts in and is accepted into the program.
They can then opt to monetize their videos with ad revenue.
YouTube will then show ads at the beginning of the videos, during, or afterwards.
The content creator does not have to go looking for advertisers or deal with them directly.
YouTube takes care of all of it.
Typically the advertiser is charged a rate based on topic and the content creator gets a cut of the revenue and YouTube also takes a cut.
An advertiser may be charged $7 per 1000 views to run their ads on YouTube.
YouTube may then give the creator $5 per 1000 views and YouTube keeps the difference (Purely example numbers)
The content creator would then earn $5000 for every million views of the video.
Some of the top YouTuber’s are earning $1 million plus per month to put this in perspective.
Is that common?
No, but there are plenty of people earning a living from creating video content.
A content creator would be either contacted by, or choose to reach out themselves, a company who wishes to advertise their product.
Typically the company would reach out to the creator if they are interested.
The content creator is then offered a rate to advertise their product based upon their follower base.
A social media influencer with 200k followers is going to be offered, or can charge, more money than someone with 20k followers.
The larger the following, the larger amounts of money advertisers will pay for sponsored content.
It is not only videos and social media influencers that can use this model.
Bloggers can also do sponsored posts on their blog and then promote them via social media and search engine results.
Some content creators will promote their own products.
This might be merchandise such as T-shirts, or it could be a book, download, fitness supplement, an app, whatever they are selling.
A person may start their own fitness supplement brand. (Yes this is possible, there are companies that will manufacture the supplement, package it up with your logo, at factory pricing)
They would then promote their brand via videos, social media, and blog posts.
The content would include a link to the sales page of the product.
Other people write books, upload the files to places such as Amazon.
The book is then for sale on amazon, and if anyone purchases the book, digital or paperback, then amazon takes care of delivering the digital file or paperback to the consumer.
The writer will set the price, and after amazons costs, they will receive the difference.
The writer does not have to worry about dealing with the shipping or file delivery.
They simply promote their book using social media, blog, video channel, include links to the sales page on amazon, and amazon will take care of the rest.
This is simply the practice of posting links to product sales pages on third party websites such as Amazon and receiving a commission from any sales generated.
To do this, a content creator simply joins an affiliate program for a company.
To join, they usually either go direct to the companies website and look for the page that contains the details and application for the affiliate program.
Others may join an affiliate network where they can find 1000’s of companies affiliate programs all in one place.
This is one of the easiest business models if you want to make money online from home.
Jim may have a video channel about hiking.
He joins an affiliate program for a company that sells outdoor gear such as hiking boots and tents.
He would then create his videos as usual and may mention that the gear he uses or recommends is available from the company using the link in the description.
If anyone clicks through the link and ends up purchasing something then Jim would get a commission.
So, lets say the program is paying 10%
If 100 people go through the link and end up purchasing a total of $10k of goods between them, then Jim would earn 10% or $1000.
Now if Jim is producing 4 videos a week and has a channel with a back catalogue of 70 videos so far.
I’m sure you can imagine the potential for making money.
Affiliate links can be posted on social media and also on blogs.
Pretty much anywhere so long as the platform allows.
Almost any company you can think of has an affiliate program now, and as I mentioned in the why now is the time to learn affiliate marketing article, this is set to grow immensely as companies move online to counter the post lockdown economy we all now face and the trend towards online shopping.
Those are just a few examples of how to make money online
Here is another article that describes ways to make money online
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