With the economy down the drain, many people are looking for additional income sources, or in some cases, an income source period. The Internet is a great tool to use to not only find a job offline, but to make a living online. More and more people are turning to the Web in hopes of making some money.
My friend Darren was laid off two months ago from a design firm in California. He had worked there for three years and thought he had a solid career lined up. As the company began losing money, cuts needed to be made and he found himself out of a job.
Darren came to me for some advice and information on Internet marketing and blogging. He was a complete newb when it came to that sort of stuff, so I showed him a few things and got him set up. Two months later Darren isn’t making nearly what he was at his design job, but it’s enough to hold him over while he finds another job.
Although Internet marketing is a lucrative field, it too, can have its downturns. I’ve noticed a slight decrease in profits over the last six months or so, especially when it comes to the consulting services I provide on another website and in my web hosting business. Profits haven’t dropped drastically enough for me to begin to worry, but I was making more at this time last year.
The one thing that has remained strong though, is affiliate marketing, particularly CPA offers. The user doesn’t necessarily have to take out their credit card, but provide their information to receive a free offer and more details about an offer — which in turn pays you. These kind of offers are more popular today than ever, converting higher than others that only pay you when a sale is made.
Chris Jacobson’s Financial Update
The economy is affecting everyone and I’m not excluded.
- Ad revenue on the blog is down by about 15% from this time last year.
- Traffic has dropped a little bit, by about 4%.
- Affiliate earnings are up by 14%
- Consulting and web hosting profits are down 22%
Like I said, CPA offers are where it’s at right now. If you’re losing money by only relying one a few methods of income, including advertising sales or product sales, you may have already seen a drop. If you’re one of the few to weather the economic storm and are making more money than ever, I applaud you.
Exploring New Income Strategies
The Internet marketing field is an evolving one, especially now more than ever. I’m currently working on a few additional income methods that I’ll keep under wraps for you, but I will tell you that social marketing is very hot right now too. John Chow posted an experiment this week on making money with Twitter. While I haven’t done any Twitter marketing recently, Facebook is still relevent and can provide you with thousands of potential customers.
Tweet This Post!