Importance of Multiple income streams
There is a wise saying that “never put all your eggs in one basket”, and this can be implied to Internet marketing also, what this basically means is that never depend on one method to earn online.
There are many ways one could earn online, free ways and paid ways, but none the less you can definitely earn, most top online marketers these days make sure they have multiple income streams, they never depend on one source to make money online.
Let me put it this way, consider that you earn 1000$ form affiliate marketing every month and you dedicated yourself to that program, now you make a blog or website just to promote this program, now imagine if all of a sudden the owner of this program decides to stop selling it, or it turns out to be a scam, it gets old or something better then this launches, now all the hard work you put in this site is gone to waste, and all your traffic goes away, your sales fall and your expenses keeps increasing, your affiliate marketing has come to an end
Now let us consider if you had multiple streams of income, along side that 1 affiliate product what if you promoted another product of the same type? you could show your visitors or prospects the advantages or disadvantages of both or all those you promote, you could put up a comparison and let your users decide what they opt for, alongside that you could monetize your website with google adsense and CPM advertising, you could start a blog on the same site and contribute posts related to the products you promote, you could offer other people a chance to advertise their products on your site! along with that you could start a mailing list and maintain it from people who are interested in products form that particular niche!
Now in case one of your affiliate product goes off, you can introduce another one immediately to your visitors, the possibility is endless and you can never run out of earning from these streams! Now you may ask what are the different possible income streams that you could possibly rely on?
well ok, i will tell you some different income streams that you could start and maintain and keep earning while doing the same thing you do usually!
below are the top income streams you could maintain:
1. Google Adsense/Other CPC networks – this stream earns you on every visitor that clicks on the displayed ads, mostly you need a product site, or blog to display these ads which you can create related to your niche!
2. Affiliate Marketing - yes the power of making money by selling other peoples products is immense! and the best part about it, you can promote anything and everything that has a affiliate program. One such network is Clickbank which i use myself, others include CJ (commission junction), Amazon, etc.
3. Forex – If you think you want to make huge money by investing some then forex if the place for you, forex trading are done on daily basis and the market is HUGE! but yes their is the risk factor. I recommend you to check out forex megadroid, which is an amazing software to automate forex trading.
4. Your own products - what better way to earn if you have the tools and skills to make your own products?and far better is if you set a affiliate program, then you make money on auto-pilot! Once you create your own product you can sell it on clickbank (like most people do) & also have an army of affiliates ready to promote it.
5. Selling advertisements – Do you have a blog/website that carters to the needs of a specific niche? well you could be making money if you sold some advertising space to others on it, this type is different from the CPC and CPM methods, since you decide the price, check out buysellads.com if your interested.
6. CPA Networks: CPA stands for Cost Per action & is a big time earner. You get paid whenever someone completes a offer, which can be as simple as submitting email field or zip field. I have been earning constantly with one such network called CPALead & the best part about them is i can offer ‘incentives’ to my visitors in order for them to complete FREE surveys, downloads, email submits, mobile offers, etc. Join CPALead if you want to get started in CPA as it is the best CPA incentive based program ever.
I won’t go further because their are tonnes of income streams you could create! its all up to you and the niche where you make money online, in fact you can earn even in multiple niches!
so go ahead and explore your possibilities and don’t hesitate to experiment around and see what fits best for you.
Don’t forget to share this post, subscribe to my RSS feeds & follow me on twitter @sameerjoad till then have a good day,
SJ
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