Thursday, February 28, 2008

Top Tips For Making Money Online

There are almost as many ways to make money on the Internet, as there are sites online. One of the best things about online businesses is that they can be extremely inexpensive to set up and run. You are able to avoid overheads such as premises, stock, staff and equipment.

The first thing to do when you are considering starting an online business is how are you going to make money from your site? There are several options and we will discuss a few of the most common here along with some of the pros and cons of each type.

Adsense – Adsense are the ads run by Google on your website, people pay to have there ads displayed on various sites and the site owner gets paid when the ads are clicked on.
Pros – Easy to set up and the payments are coming from a very well respected company so your payments should be safe and guaranteed.
Cons – Unless you are in a very competitive market such as legal services, loans or insurance the amounts earned per click can be quite small.

Affiliate marketing – This is where you promote someone else’s products or service and you then get a percentage of each sale.
Pros – You can send an unlimited number of potential clients to a site to make purchases and the percentages earned can be large, so the profit potential can be excellent.
Cons – You are sending people from your site to make a sale, there is often no follow up contact between you and the client so you can not build up a relationship with them and sell to them multiple times.

Drop shipping – This is where you sell goods from your site, but you pass the order to some other company to send out the goods.
Pros – You do not have to hold stock, so your cash flow is freed up for further promotions not in stock.
Cons – You are relying on another company to send the goods purchased to your customer, if they are not as professional as you the customer may not be happy with the service and it is you who will have to issue a refund.

One thing you will need is a website, although there are even some opportunities that do not require you to have one, but a good standard site can be produced using free or very inexpensive software, you can also find free templates on the internet that you can use to build your site around.

The one thing I would never save on is good SEO(Search engine optimisation). With good SEO work, you will benefit from having your site higher in the search engines whatever way you choose to make money from it. You can try and optimize your website yourself or you can hire an SEO company. Why not try typing in SEO followed by the area you live in into a search engine to try and find a company near you. For example "SEO Wiltshire" or "SEO Salisbury".

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