The fastest way to make a million dollars (legally) is to sell a valuable product or service to the widest possible customer base in the shortest amount of time. 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 you can earn a steady income even during an economic downturn.
All you have to do is join an affiliate program, join a dropshipping program, or set up a blog and launch an advertising campaign using one of the many free advertising venues out there today, such as article marketing. , participate in the discussion. free online forums and classifieds.
The more traffic you can drive to your website, the more money you will earn. For example, if you have a goal of making $100,000 this month (which is about $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? Assume that out of every 100 people who visit your website, only 10 people click on your affiliate ad and buy the product. That 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 by your store will actually buy something. Some people are just there to window shop.
So if you need 10 visitors to make 1 sale and you need to make 4,000 sales, you would need 40,000 unique visitors to your website each month to reach your goal of $100,000 per month. That’s about 1,333 visitors per day.
How do you get those 40,000 unique visitors to your website each 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’re trying to sell, rather than to 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, it would only cost you $2,000 per month in advertising costs. That investment of $2,000 in advertising costs would yield $100,000 in profit!
It sounds too good to be true? No, it’s not. People are making tons of money online all the time. Even during the recent economic downturn, as we speak, people are earning a full-time income on the Internet. Is it as easy as it seems? No, it’s not. That’s where thinking outside the box, 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 clicks to sales ratio to be much higher as well.
Of course, you don’t have to spend money to make money online. There are ways to advertise for free and get the same wide exposure as well.