Spread your income over multiple industries
Jan 10th, 2009 | By knup | Category: Affiliate Marketing, Make Money Online, My Feature
Is your online income solely centered on one niche? Or how about on one website? Or maybe even one offer? What happens to your revenue if that offer goes away or the site you are promoting gets banned. You are up a creek without a paddle. Putting your eggs all in one basket can be devasting to online internet marketers. So really think about how you can diversify a little bit. Here are a few ideas for diversification that you probably know – but might spark some action for you:
1) Get into another niche completely.
2) Check out google adsense and earn a little bit each month.
3) Promote an ebook or make some money via clickbank.
4) Pay per lead programs can be a nice little extra revenue stream.
5) Partner with other sites as joint ventures.
I know, these are not breaking news ideas. But think about where your money is coming from and how you can expand that. Turn the $2000 per month from one or two programs into $3000 a month spread across 5-10 different revenue streams. In the end, you will be much more comfortable with your online business plan.
How am I taking action on this myself? Currently I make 50% of my money from Google Adsense, 40% from private advertisements and 10% from Affiliate marketing. This is solely in the sports and celebrity niches. The first thing I’m going to do is branch out into one more industry – gambling. Secondly, I plan to promote affiliate programs heavily and make that more like 25%-50% of my income. Sportsbooks, casinos and poker rooms pay massive amounts of revenue sharing to promote their sites. I also plan to heavily incorporate email marketing into my bag of tricks. I’ve been building lists over the years but never really did anything with those lists. IF I can manage another few hundred a month via email marketing, thats good. I took the step and subscribed to aweber.com to manage all my email lists. This is a little pricey, but without taking that step I know I’d sit on my hands again and do nothing. So now it’s on.
What are you doing to bring in your income in 2009? Anything different?
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Hello Knup,
I think there will be no differences to make money in 2009. Perhabs I will try out to promote an e-book.
Good reminder to those who aren’t diversifying adequately. Unless you’re going whole hog with one massive product or business you own (i.e. affiliate marketing isn’t your focus), it only makes sense to spread your effort across niches. There’s just too much risk when you sink all of your time and effort into one area.
Like you said, it might not be breaking news… But it’s still good advice.
Agreed! No one should put their eggs in one basket. Even if you’re primarily operating a single site, it makes a lot of sense to spread the earning opportunities around within it. Nice post and a smart reminder for those who might be leaning too heavily on one method of monetization.
Yeah I have also similar thinking about my earning or you can say that I am bit worried as this is not my part time. This is my full time job and my and my family’s bread and butter depends on this.
So I have started One tech site, One Funny site and one celebrity sites. Funny and Celebrity will get more traffic but less money through adsense.
Do you have any other idea how can I monetize my celebrity related website except from adsense.
sounds very interesting – but how do I find a good niche?
I think the same second comment. there will be no differences to make money in 2009…
wow, thanks for tips
we hope that global recession doesn’t impact online business opportunity
Always sound advice. It’s just like your investments in the stock market. The hot niche of today could tank tomorrow.(Water to Gas anyone???)
Amen, brotha.
I’m about to get a unique GPT site going, along with my blogging network. 09 is going to be the year of diversity.
This is an excellent article and advice which one should take really seriously. Many people / companies have already realized this and have decided that they will not put all their eggs into one basket and have decided to go with multiple websites. However, this puts additional burden as you need to put extra effort promoting your other sites too.
Diversifying is a great idea. Our company is still trying to develop our niche for a specific genre of customers. To expand right now, might be out of our time league, but we will certainly think about it. Thanks for the tips. -Nate
Sorry my english firstly, i read well but i cant write
, So its useful post for me and i bookmarked your blog.
I have been testing a lot af different markets, to find one or more to build upon. I have created 10 websites and then I have put some content on them og created some backlinks. I have found that some of them are not preforming that good, but I haven’t decided anything yet what to move on, and what to skip.
THere will be some difficulties to make money in 2009, people are scared of financial crisis and will be more suspicious, they will pay their money only for reasonable services
IIt is a good idea to spread your source of income, because not all sites are created equal. soem do pretty well with adsense, some other are great for affiliate. It takes time, and a lot of errors, to fully understand if a site can be monetized and how.
yeah adsense is probably the best bet for passive income
I hate betting on one horse. You are absolutely right about diversifying!
I have just found this site, and have already found it very interesting.
I am now off to read lots more.
Many thanks.
sounds interessting, but its often not so easy to find an niche where you still can earn money.
Yes you need to have a hold in a variety of fields, so that even if one goes wrong, you do not suffer loss. One needs to learn to be creative and explore new avenues instead of just following what the whole world says you need to do.
I tend to disagree, People will be looking for an out of the box ideas to make their income now with all the people losing jobs. They will be desperate and willing to try anything that gives a glimmer of hope for some regular cash flow. The online business and affiliate market is going to boom with this economic crisis.
focusing on only one niche is really good.
but sometimes it can be boring too if we have lack of ideas to write
how to overcome this problem?
Or as everybody calls it, don’t put your eggs in one basket. Although it sounds a little bit cliche, it is completely true. If your site relies on organic traffic for instance and something happens, what do you do? This is where your point comes into play.
Can someone help me figure out how to create multiple industries such as a steel mill? Can you use multiple tracks in the same industry?
I have just found this site, and have already found it very interesting.
Going to read more,and subscribe.
I agree too, don’t put your eggs in one basket. Gambling is one area I have not looked into yet but I’m currently looking into affiliate marketing alot more
There are lots of online businesses today but make sure you’re not wasting your money, time and effort. You have to do your own research or feasibility study about the certain business before investing your hard earned money.
Just got the same advice from my financial advisor. Makes sense I suppose
Nice article! You are absolutely correct – it is best to try various niches / different things…
It’s quite true, it’s an old business rule, you should never put all your eggs in one basket.
It’s good to get into a different niche that compliments an existing one. An example is having a movie review site earning off adsense, with another site for movie rentals earning with affiliate revenue.
I strongly believe in niches, but developing them in diverse industries
What has worked for me is to focus on clients in niche industries, then using that knowledge to write, design, and optimize my own websites in that niche, then sell them as turnkey online businesses once the websites are mature and generating inquiries/conversions
Yes sir; So its useful post for me and i bookmarked your blog. Thanks..
Thanks for the tips Ryan, some valuable information here. I hope to make a real effort in affiliate earning in the near future.
Niches are good but you have to put a ton of upfront research into them to determine what keywords you want to attack and who the competitors are for that industry. I did this research and formed a material handling site that has been working out well. Find keyword info by googling “keywords, niche” good luck
I am currently having one blog, earning from adsense. I heard that selling ebooks makes a lot more money than adsense. Will be going on that direction.
That is nice idea to earn. Earning through adsense is really good idea. But i have no idea to earn from ebooks.
Make Money Online has been the focus for people who want to earn money online. Thanks for sharing this… your tips are very useful to us.
Thanks for the tips.. Actually I’m using adsense.
Yea this is the way to goo, but for me it is hard because I don’t have a motivation
Nice post.Thanks!
Hello Knup,
You mentioned clickbank in your ideas, but you are not using it, or at least is not one of your source of incomes. I have been thinking to register an account with clickbank. Does anybody know if it works well? Thank you.
Spreading your business across other industries is a great strategy. You can increase your winnings if you are concentrating on other niches instead of just one.
Practically speaking all of us wants to earn right? We will do everything just to monetize our blogs. We gather resources from the world wide web to get more useful resources to earn money. As a newbie taking this as another resources that I could use to make money online.
Thanks a lot Knup!
Great post and nice blog. Got an answer from here. I will bookmark this for reference.
my main concern is losing customers to adsense :p
Wow, I wasn’t aware that Adsense can be that powerful. I got put off by the measly few cents that I earn per day; maybe I should try this again with more passion. Thanks!
Wow,nice post.Thanks for the infomation.
focusing on only one niche is really good.
but sometimes it can be boring too if we have lack of ideas to write
how to overcome this problem?
working with different niche – there are two sides of the story- your income comes from different sources- but if working with one- u can be more informative
Adsense is the best bet passive income………
Making money was always like digging with a needle. Spreading the income generating ability across various industries should help making money a trifle easier.
i think working with CPA is excellent, but this so ddifficult for a newbies
I know we should focus on finding different niches but I have difficulties with finding niches where people will actually click on ads. I have 20 websites and a total of 300 visitors a day but I have a terrible click rate of about 2%. The most difficult part about finding niches is not that you can not find new niches, but finding niches that will earn money.
finding niches- u see- mostly very competitive niches are difficult to reach-very difficult and impossible with a new sites- not competitive- who cares- u wont get any clicks
I agree with one of your lines there, “Putting your eggs all in one basket can be devasting to online internet marketers”. Somehow this is quite true. Unless you are the kind that really do alot of work, keep driving traffic to the particular website non-stop. But of course, your that website should be able to collect leads so that you can “resell” over and over again.
Developing domains and websites is just another type of investment and in the investment world you have to diversify, the economy is now on a unified global stage and to stay domesticated (in one niche) is just asking to have that little carpet swept from right under your feet!
Good post – thanks for sharing!