Passive Income From Running a Website in Nigeria
The best way to make passive income is to sell a digital product. This simply requires that you make or find a digital product to sell, build a ‘sales page’ from which to promote said product and then use advertising or marketing strategies in order to drive more visitors to that sales page.
This is a very ‘hands off’ method of earning an income that will generate money while you’re sleeping – and you don’t even need to worry about delivering a product!
But the problem is that this is limited in scope. Eventually, you are likely to exhaust the market for your product and find that the cost of advertising starts to outweigh the profit from your sales.
You aren’t delivering any value to the end user, you aren’t building a relationship and at the end of the day, this is a technique that won’t last forever.
And that’s why a lot of people are interested in making money from a website. That way, they can build their own brand, build a big audience and then sell products that they’re really interested in and proud of.
But is it possible? Can you really generate the same kind of passive income from a website? How long will it take? Let’s find out…
The Challenge
There are a number of challenges that make it harder to make a passive income from a website right from the offset.
For starters, you will immediately find that the money you make from adverts such as Google Ads is not truly comparable to the money you can make from a digital product. Ads will typically pay out a few cents per click and most of your visitors are not going to click them often. This is especially true these days with so many people running ‘ad blockers’ and the like.
The other problem is that it can take a long time and a lot of work to gain a big audience on a website. You’re going to be competing with the rest of the web and many of the creators you’re going up against will have gigantic advertising budgets.
The Strategy
But as with most things, the secret is to work ‘smart, not hard’.
That means picking the right niche to begin with. By selecting the right niche to enter into, you will be able to avoid going up against huge competition (as you might do if your niche were something broad like ‘fitness’ for example) while at the same time ensuring there is enough of a demand for what you’re selling.
Choose a niche that has clear products to sell to a specific audience and one that will allow you to avoid the hugest competition.
The next strategy is to recognize that you need enough content to climb the ranks of Google and that this content needs to be high quality. This is where it can be hard to keep your model ‘passive’ but the solutions are either to hire someone who will create the content for you, or to spend a while writing lots of content so that you can post it gradually over time.
5 Top Ways to be Successful Making Money Online
Making money online is certainly possible. Just ask the many that are already making their income off the web. The trouble is tons of people are attempting to make money online working from home, and only a fraction of those people have headed down the right path. Let’s look at 5 top ways to be successful at making money online.
These 5 top ways have been proven as highly successful so consider jumping on board.
1. Consulting Business
There are all kinds of consultants in our modern world, and that certainly applies to online. There are all kinds of businesses online that need the services of a top consultant. As a consultant you can offer all kinds of services such as search engine optimization, website design, writer, and more. You get paid for expertise, and generally speaking the earnings are above average.
2. Offer Your Services
This is not the same as consulting. In fact, it is much different. If you are an expert in a field, such as being a journalist or writer, you can charge for your services that you offer under contract. Your services should be top quality because when they are you will quickly build a reputation and become in demand. Word travels fast online where top notch skills are in high demand.
3. Affiliate Marketing
Affiliate marketing is popular because it does not require you to invest in any product inventory. With this type of business you are marketing and promoting the products of another company. There are some huge affiliate programs online such as Wal-Mart or Amazon, and there are tons of smaller ones too. Before committing to any affiliate program you should take the time to read and understand their policies, procedures, and pay scales.
4. Blogging
We hear a lot about bloggers and how they make excellent money blogging. There is no question that this is a highly lucrative business opportunity. If you have expertise in any area, it’s a great topic to blog on. For example, perhaps you breed Chinese shar pei, or maybe you run a border collie rescue you could blog on these topics and build a following. There is a great deal of opportunity here.
5. Writing Articles
A highly lucrative source of income online, that is often overlooked. It’s a well known way to build significant profits working as a freelance writer writing articles for clients. Although writing your own articles for the article banks and then driving traffic to your website through the resource box is even more lucrative.
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