Making Money Online in 2010
moneyrelations :: Jan.01.2010
Well, well, well. It’s a new year and by the look of things, it’s been awhile since I updated my blog. While the personal finance blog was woefully neglected, my other ventures on the Internet were rounding into shape quite nicely by the end of 2009.
If my readers are still around, you’d have known that I always had a fascination with internet marketing (that’s making money online). It’s only natural given the financial nature of this blog. Well, I started getting more serious about it and I have to say that I’m getting the hang of it. Within a year, I hope to equal my real life job income and following that, who knows. Maybe an early retirement is in the near future? I’d have to make 5 times more than my current salary to even contemplate quitting my regular job given the security that it gives me but I see a possibility of escaping the daily grind. I just have to have the discipline to go through with it. Yes, it’s another type of grind but on the bright side, I am my own boss and I control my earning potential. I have my goals and all I have to do is create enough sites that meet my income targets. It sounds simple enough, right? Yes and no. Once you truly grasp how IM works, it’s a repeatable formula – sorta. The Internet is constantly evolving and you’ll have to make minor adjustments along the way. That being said, you’ll need to dissect the extraneous and erroneous information that other internet marketers provide.
There is a LOT of people who want to make money online but don’t know how. Unfortunately, they are looking at the wrong type of “celebrity” make money online bloggers for guidance. These gurus are only there to pad their own wallets by selling you their products. Basically, they tell you to keep on writing to become an authority in your area of expertise. If you write it, they will come and so will the advertisers. You can also leverage your credibility to recommend products. I never truly believed this method of monetization (for me) because it seemed like a whole heck of a lot of work to blog and to keep up the constant traffic. Actually, I don’t mind the work, but I just don’t like being tied down to anything. Sure, with this blog I actually had quite a few visitors judging by the analytics and some even bothered to comment. But it is damn hard to sustain the momentum for a long time. Oprah has her research team for topics but on my blog, it’s only me. It is also difficult to sell to your readers without losing a lot of integrity. A regular blog gig wasn’t the business model for me. Also, this ain’t broadcast TV, and we know how well commercials are tanking because of PVR. Take this to the online world and the equivalent is ad blindness.
So, I turned to little niche sites that were search engine targeted. These sites talked about mundane stuff – like household products and stuff. People who want solutions to their problems looked for these items and were already interested buyers before even landing on your site. That’s practically a guaranteed sale.
You might be thinking that search engine traffic is a little old school compared to the new social networking phenomena. And I do admit some apprehension in not embracing Twitter and Facebook, etc. I have ranted before about my dislike of social networking given the fact that they can’t turn a profit because social traffic is not interested buyers traffic. If they can’t turn a profit, how am I expected to create a long term business plan? However, Facebook is seeing a positive cash flow for the first time and foresee profits sometime in 2010. Well, it’s about time. Perhaps I will regret in the future for not jumping on the bandwagon when I had the chance (I had some interesting comments about Google and Twitter in my previous post). Things are constantly evolving online. I love it and yet I hate it because of its unpredictable nature. And yet, this is my ticket to early retirement? That’s a scary thought. Even though this is not an MMO blog per se, I’ll keep you posted in how I make out in the new year. I promise.
Blogging, Making money online ::
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