Often people ask this question “Can I Make Money on the Internet Without Spending Money?” Well the answer is “Yes”. Theoretically, you do not need to spend money to make money online. But there are so many riders to it.
Possibly, you can make money online at no cost, but in reality it is difficult. Only a small group of people who have special talent or are just lucky will be successful in this way. Average internet marketers should spend money to make money online.
Most of the times, people who are new to the online internet business are trying to make money without wanting to invest money in their online business.
Common Strategy of Most People Trying to Make Money Online
The common path used by average people who want to earn FREE money online is:
- They find online resources that offer free websites and sign up for one or more.
- They get a free website template, although it usually does not give the website good professional looks.
- They display their products or services on to the website.
- After some time, when they learn a little more about the internet business, they get a free optin form and an auto responder to capture leads from the visitors of that free website.
- Once they have the free website ready, they try to generate internet traffic only through free methods like social media posts, blog commenting, free classifieds pages, forums, and free advertisements that they can find on the internet.
After having put in so much efforts and time, they hope and pray for success. Usually they will keep repeating the process with other products and services also hoping they will strike gold one day.
However, the sad part of the picture is that most of the people who have tried a free way to make money online ultimately failed. Unfortunately this part is not highlighted well or people chose to ignore it.
What is the right strategy to make money online?
Getting the web traffic and the converting the website visitors to buyers are the key factors in making money online. To get targeted traffic and a good rate of conversion, you might need to spend money on:
- getting the right tools and
- setting up a professional, content-rich website
that can monetize your traffic to convert it into sales and generate income from multiple sources.
In addition, you may also like to refer to: Most Profitable Internet Business Models
Spend Money to Make Money Online
Here are the basic steps you may need to spend money on:
1. Keyword Analysis
You need to register a domain for your online business. But before getting a domain name, it is advisable to perform keyword research and analysis for your online business.
Firstly, this will help you select a niche and decide on the related business.
Secondly, you will find a set of specific keyword group that is important and relevant to your business. This will help you tremendously in SEO, SMO – which in turn will help you to drive more traffic to your website. All this will ultimately lead to more money and more profits.
Please see all my Recommended Tools for Bloggers
2. Make a list of preferred domain names
The initial benefit of doing keyword research before registering a domain name is so that you can include your top keywords in your domain name.
This can give you a search engine optimization (SEO) advantage. Therefore, you may need to spend some money to buy a good keyword analysis tool to help you find an effective keyword list. Consider this as a long term investment rather than simple expenditure.
The idea of making a list of domain names is that the domain name you are looking for may have already been taken. So instead of doing a back and forth exercise, it is suggested that you make a list of about 10 to 20 good domain names on the lines discussed above.
3. Get a domain name and web hosting
Once you have identified a couple of suitable domain names for your online business, register one of them you like the best and if it is available otherwise go to the next.
It may be mentioned here that while there is no difference in the search engine view of the domain extension, it is recommended that you search for a dot com if the name is available.
Next get a web hosting package for building a website with the domain name booked by you.
4. Professional website with informative content
At this stage, your website should have two important components.
First build your website which should look professional.
Second provide useful information and engaging contents which may be required by your website’s visitors.
Therefore, you may need to spend the money to get a good web design or buy a professional wordpress template that suits your niche or business theme.
Recommended reading: Write A Great Blog – Blog Writing Techniques
Regarding content, you may hire the services of good professional writers and / or you may spend money to buy PLR (Private Label Right) content for your website in case you are not a good writer.
Even if you may be good writer but you may not have the time or patience to write 50 to 100 articles quickly. This again justifies spending money to earn money.
5. Generate Traffic to your website
So now you have a nice blog or a website but you are not getting enough traffic.
You can generate traffic with free and paid methods and you should use both the methods.
While you may always continue to drive traffic with free methods, do consider using paid methods like pay per click (PPC) advertising to get immediate traffic to your website.
This will require you to create a specific paid advertising strategy. For executing paid method of driving traffic, you may want to consider allocating a marketing and advertising budget to your online business.
6. Convert Traffic
You need to invest into a paid auto responder and e mail marketing system.
Not all visitors who come to your website will spend money upon entering. Only a small percentage of people are impulsive buyers.
So, don’t let this traffic go waste. You can build up an email list by having your website visitors fill up signup form or optin form. Next use a paid auto responder to capture leads and follow up with them continuously through your regular e mails.
They can be turned into buying customers subsequently.
7. Different Ways and Methods of Earning Money from your blog
If you have reached so far, you deserve to be complimented for your efforts. Congratulations!
Now consider yourself fortunate, as there are plenty of ways to make money while helping your audience in the form of website visitors.
Here are some of the different routes to making money with a website
Earn through Advertising
As a publisher you can now associate with Ad networks like Google Adsense and earn revenue by running ads.
Specific organisation may sign up with you to hire advertising space on your blog and pay you for that.
Sell own Digital Products / Physical Products or services
This is one of the most profitable business models as you are selling the products or services produced by you. For example, you may be a Soft Skills Coach or manufacturer of Bed Linen or selling a software created by you
Here you just give a link in your relevant article or on your website. If the visitor on your website buys through your link, you get paid a commission.
This is another form of banner advertising. Instead of advertising on your site, a manufacturer or service provider may ask you to write an article about his product and services and provide links so that the visitors are excited to learn more and they visit the website of the advertiser.
8. Build a Successful Internet Business Company to make money 24 x 7
Once the wheels start moving fast enough, making money online can be very exciting. You can leverage this experience to become a bigger success to make your working more meaningful. Therefore, you may consider creating an internet business company.
For example, to begin with you may consider:
- Starting a YouTube Channel based on the niche your website is already in
- Teach others how to earn money online, digital marketing etc
- Start a digital marketing agency
- Become a social media influencer
- Start a Social Media Management Agency
Video 1: Do You Need to Spend Money to Make Money Online?
Video 2: How To Write A Great Blog – Blog Writing Techniques
What are the advantages of creating an internet business company?
This is the right way to create and execute a design that pays you continuously.
At this stage, you should have a multitude of programs that provide a steady stream of recurring income.
To Sum Up about Spend Money To Make Money Online
To make money online, you have to spend money. Those who understand that – it takes money to make money online, will eventually be successful.
Are you interested in other online money making ideas also?
- Freelance Jobs Online For Beginners
- Easy Ways to Earn Money through Internet
- Best Passive Residual Income Ideas
- Best Freelance Writing Sites To Get A Job
- Best Passive Residual Income Ideas