Have you ever wished you could simply wake up every day to see that your bank account has grown by hundreds of dollars overnight with no effort from your side? It may take some work to create multiple streams of income that literally make you money even as you sleep – however, the results will always be worth it, so long as you are prepared to work hard to get your online empire up and running.
How do you create multiple streams of income online? Firstly, you will need to choose whether you want to become a vendor or an affiliate. Vendors create their own products and sell it to the end customer, while affiliates promote vendor products in return for a hefty commission from every sale. As a vendor, you can set up an affiliate network and leave it up to them to do all the marketing; as an affiliate, you can create a small, search engine optimized site that will automatically promote the product and earn you money with no intervention from your side. In both cases, you will be able to create multiple streams of income online that can be sustained without continued efforts.
Once you know what form you want your residual income to take, now is the time to get serious! Whether you are a vendor or an affiliate, Clickbank is a great place to either find or set up affiliate programs. If you are an affiliate, pay close attention to the Gravity of the affiliate program, which indicates how well the product “converts” (how easy it is to promote and make a sale). In general, you should stay away from topics such as Internet marketing, affiliate revenue and weight loss – they are all extremely popular, meaning that you will find yourself dealing with a tremendous amount of competition.
In fact, choosing the right niche is the most important thing you will ever do, either as an affiliate or as a vendor. A niche is a market that has steady demand but insufficient supply – for example, a hypothetical hair-growth product called “FastGrowth Plus” might have a market niche for a book or a site reviewing its effectiveness. Niches are extremely important to the success of any effort to create multiple streams of income, because they allow you to focus on a market that has virtually no competition and yet provides steady demand for your products or services. It is precisely for this reason that all professional Internet Marketers guard their niches and never reveal them to the general public.
How do you find a good niche and bypass all the competition? Wordtracker provides an excellent free tool that lets you see how many people search for a particular keyphrase a day. For example, let’s say you are interested in promoting your “FastGrowth Plus” product. Google search for “hair growth” returns 1,160,000 results – clearly more than you can compete with! However, let’s say you check Wordtracker and find out that a lot of people search every day for “FastGrowth Plus hair loss product review” – chances are, there will be only a dozen of sites competing for this keyphrase, and most of them will not be optimized around it. For you, this presents a great opportunity to make a small website with content built around this long keyphrase – and whenever someone looks for it on Google, they will see your site as of the first ones. Using this simple method you will effectively bypass all the competition and if you picked your niche correctly, you will have the market all to yourself.
Of course, simply setting up sites like that is not enough to create multiple streams of income. You will need to do a lot of search engine optimization and promotion to maximize your exposure and earnings. Remember, the more targeted visitors you receive, the more money you will make from affiliate sales. In general, you can expect that 1% of all people who visit your site will actually buy the product (although there are ways of increasing that).
As you can see, it is not at all difficult to create multiple streams of income online – and although it will take a lot of effort to get started, you will generally find the going to be a lot easier once the money starts coming in. Keep in mind that you will eventually be able to outsource some of the more time-consuming and labour-intensive parts of your work, enabling you to concentrate on what you’re really good at – making money!
You can find 6 best ways to make money online at George Blackwell's Home Income Opportunity Online website here!
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