Why You Need To Diversify Your Online Income Streams

By | December 8, 2008

Multiple Streams Of Income Means More Money For You

If you want to make the most money possible online then you absolutely need to diversify your income streams. What do I mean by this? What I mean by diversifying your online income streams is that you need to branch out and make money with more than just one method. For example, you might be making a killing as an affiliate marketer with Clickbank and think you have everything figured out when it comes to promoting Clickbank products and earning commission. But what if everything goes to shit one day and you are out of your only income stream? The smallest of problems can make a huge difference when it comes to making money online and internet marketing which is why you can’t just rely on one method of making money.

Multiply Your Online Income Streams And Make More Money

Why Am I Telling You This?

I know what you might be thinking while reading this. “What the hell is the point of you telling me to diversify my income streams?”. “And why should I listen to you?”. I’ll be honest with you. This post is pretty damn useless if you just read it and move on. But, if you realize after reading this post that you shouldn’t get to comfortable with your current campaigns or methods of making money online and make an effort to find more sources of income, then this post can make a difference.

Believe me, striving to find more ways of making money online is worth it in the end. I speak from experience. I like many people starting out making money online came across the method of affiliate marketing. After finally getting through all of the bs and hype that comes along with internet marketing and making money on the internet I eventually got an understanding of the process behind affiliate marketing, and more specifically promoting Clickbank products. I started using a free method of marketing known as “bum marketing” and soon I was making some decent money by promoting Clickbank products. At first, I would only get about 1 or 2 sales a week but with some persistence I was able to work my way up to 1 sale a day and sometimes even 2 sales a day. And things continued to get better and better until boom! One day I just hit a brick wall and the sales literally stopped. The same amount of traffic as before yet for some reason I just wasn’t converting.

It turns out that many other people were experiencing this issue as well. And even worse was that it seemed like the problem was on Clickbank’s end having to do with tracking issues. I couldn’t do a thing about it but work my ass off and hope that things would improve.

Long story short, this experience opened my eyes. It showed me that I should never rely on one system of making money online and that I should always be expanding my options. Don’t let yourself make the same mistakes. Learn from mine and start expanding your online sources of income now.

What Are Some Good Online Sources Of Income?

I plan on covering in detail specific ways to make money online in a future post so I will not be covering any particular networks right now but I will give you some good information as to where to get started. Here is a short list of some of the best online sources of income.

  • Affiliate marketing is one of the most popular ways of making money online and for good reason. Doing a quick Google search of “affiliate networks” should give you plenty of options to start with. Remember, you don’t have to stick with just one affiliate network. There are plenty of huge affiliate networks as well as affiliate programs for individual companies. Do your research and you’ll find any type of affiliate program you need.
  • CPA networks are also a good place to make some money online. However, most CPA networks aren’t as easy to get started with as affiliate networks. If you are a complete noob to making money online then might want to stay away from CPA networks at first.
  • Google adsense is a great way to earn some money from your websites or blogs if you have a nice amount of traffic to them. You can make good money with adsense but you need a lot of traffic to do so. It is a very reliable source of income if you can get traffic to your site or blog but you need to put in a lot of hard work if you want to make a nice sized income.
  • Selling ad space on your website or blog is another very reliable source of income. If a company or advertiser purchases a block of space on your site then you receive the money right then and there. But as with adsense you need to have a good amount of traffic before you can make a decent amount of money with ad space. Advertisers aren’t going to be interested in a site that only gets a few uniques a day.

Now, this aren’t the only ways of making money online but these definitely leave you with a lot of options. Just remember to always look for new streams of income and to never rely on just one online income source. If you can do this and are willing to work hard then you will be able to make a lot of money online.

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Thanks For Reading,
Max