The fastest way to earn a million dollars (legally) is to sell a product or service of value to the widest possible customer base in the shortest time possible. The best tool we have at our disposal to achieve this is the Internet.
There are millions of niches through which you can make tons of money online, without spending a penny on advertising or even creating or managing a product, service, or inventory. The good news is that the Internet is a great way to diversify your sources of income so that you can earn consistent income even during an economic downturn.
All you have to do is join an affiliate program, join a drop shipping program, or create a blog, and launch an advertising campaign using one of the many free advertising mediums out there today, such as email marketing. articles, participating in discussions. Free online forums and classifieds.
The more traffic you can drive to your website, the more money you will make. For example, if you have a goal of making $ 100,000 this month (which is roughly $ 1.2 million per year) and you join an affiliate program for a product that pays you 25% of every $ 100 product sale. That means you will earn $ 25 per sale. At that rate, you would need to generate 4,000 sales in a month to make a net profit of $ 100,000.
How much traffic do you need to generate to get those 4,000 sales? Suppose that for every 100 people who visit your website, only 10 people click on your affiliate ad and buy the product. That effectively means your odds of getting a sale are 1 in 10.
This is no different than a traditional retail store in the mall. Not everyone who passes your store will actually buy something. Some people are only there to window shop.
So if you need 10 visitors to make 1 sale, and you need to make 4,000 sales, then you would need 40,000 unique visitors to your website each month to reach your goal of $ 100,000 per month. That’s around 1,333 visitors per day.
How do you get those 40,000 unique visitors to your website every month? You can use free advertising methods as described above, or you can use pay-per-click advertising where you link directly to the affiliate product you are trying to sell, rather than your own blog. For example, if you could pay 5 cents per click so that every time someone clicks on your ad as seen in search results from services like Google, then it would only cost you $ 2,000 per month in advertising costs. That $ 2,000 investment in advertising costs would yield $ 100,000 in profit!
It sounds too good to be true? No, it’s not. People are making a lot of money on the internet all the time. Even during the recent economic downturn, as we speak, people are earning full-time income on the internet. Is it as easy as it sounds? No, it’s not. That’s where innovative ideas, creating a good product, and a good marketing strategy come into play.
If you have relatively little internet marketing experience, you can expect your costs per click to be much higher and your click-to-sales ratio to be much higher as well.
Of course, you don’t need to spend money to make money online. There are ways to advertise for free and get the same wide exposure too.
