Making Money Online

stevecl · #1 08-31-2007, 05:03 AM

I spend a lot of my time reading threads on this forum. There are numerous people looking to earn an honest income online and are tempted to buy almost every money making ebook going.

I was one of those people, hell, i even promoted some of this stuff (Unfortunately as most newbies do)

So if any of you want to know about making money online here are the cold hard facts.

#1 Most money making products give you the very basic facts

#2 You need a website or blog

#3 you need to be able to write

#4 You need to do keyword research

#5 you need to find a market

#6 you need to find a product

#7 you need to find customers

You will need to find a niche. You need to research that niche. How many competeing sites are there? how many searches are conducted for that niche? are there any products you can sell to that niche? If so, you need to build your content rich website/blog. This takes time.

Once you have done this you need to get traffic -More traffic = more sales. You can use google adwords to get traffic - this costs money - You can use article marketing - free but boring. There a numerous ways to get traffic.

all this takes time to do.

Do not expect to make money from doing nothing.

some food for thought.

Most people buy a money making ebook and instantly try to sell the ebook to others. The make money online niche is one of the most competitive you will find.

Example

You have just bought the ultimate wealth package and got your free website. you decide to put your website to good use. You sign up to google adwords and bid in the Ultimate Wealth Package keywords.

Currently there are 100 other adwords bidding on this keyword. To get on the first page you will be bidding an average of $1

The ultimate wealth package sells for around $49

You will need to convert 1 customer in every 49 to break even. The basic conversion rate benchmark is 1 -100 so, for every 100 visitors ,you should expect to get 1 sale. So you are now losing money. Of course you may get lucky and make 2 or 3 sales, then again you might not. How much are you prepared to lose???

my 2 cents worth

steve

katiescorner · #2 08-31-2007, 05:27 AM

Quote:

Originally Posted by stevecl

Currently there are 100 other adwords bidding on this keyword. To get on the first page you will be bidding an average of $1

The ultimate wealth package sells for around $49

You will need to convert 1 customer in every 49 to break even. The basic conversion rate benchmark is 1 -100 so, for every 100 visitors ,you should expect to get 1 sale. So you are now losing money. Of course you may get lucky and make 2 or 3 sales, then again you might not. How much are you prepared to lose???

steve

Excellent post! I just want to clarify for those who don't understand adwords... that "$1" you are bidding is PER click..

Dawud · #3 08-31-2007, 05:32 AM

What about "Xtreme Millions"?

I read good reviews about it. I am an internet newbie. So all of it sounds like it would work.

pcwork · #4 08-31-2007, 06:45 AM

Xtrem Millions - the name itself sounds like a get rich scheme

ChristineBLossom4sure · #5 08-31-2007, 06:47 AM

just curious, what is the highest bid you have ever had for a campaign?

Daniel_Shop · #6 08-31-2007, 06:56 AM

If you are looking for an ebook about how to make money.

Please! don't buy any "Wealth package"! better go to I've Tried That and download John Chow's Ebook. It's Free.

This book is so valuable and free. This is the type of books that other jerks are selling online.

stevecl · #7 09-03-2007, 03:24 AM

Daniel,

Thanks for the Link. I will read it when i get time. Currently working on a number of projects :-)