Everyone now wants to have a side hustle – a way to make additional, passive income. If you could find a way to get more money in your pocket, without having to expend too much additional time and effort, wouldn’t that be a dream come true?
Earning some additional money isn’t actually as hard as some might think – but it does take some time and patience. Any overnight solution isn’t going to be the dream it may seem to be. There are quite a few solid strategies to help earn more money online through a passive income stream. In a lot of cases, earning money online can be a way out of the 9-5 life. If you’re able to create several passive incomes, you could use them all as a primary source of income.
What often stops a lot of people from looking into new online revenue streams is that they think it’s too complicated. This really isn’t the case though. A lot of ways to make money online involve time and effort but are generally easy to figure out. As well, if there is one revenue stream that seems too complicated, you can always try out another.
Below we have listed out some of the more common ways to make money online.
#1 Google AdSense
Google’s Ad Network is one of the most vast online advertising mediums. You’ve undoubted seen their ads on most websites that you visit. These ads are easy to setup for website owners, and if you’re website has enough traction, they can make you a lot of money.
For website and blog owners, AdSense is very easy to set up, and is free as well. Once you have an account set up, Google will provide you a code to install on your website / blog. Once the ad space and tracking code is set up, Google does all the work. They track traffic, impressions, and clicks, and your earning percentages.
There is no upkeep to be done on your part. Once the ads are setup, just run your site like usual and let the dollars roll in.
#2 Affiliate Marketing
If you’re not interested in running ads on your blog or website, affiliate marketing is another avenue to make some money. With affiliate marketing you team up with other brands and products to promote through your content. There are quite a few companies that have automated affiliate marketing programs, like Amazon’s Associate Program, which are free to sign up for. If you’re not looking to partner with a big company or automated affiliate service, you can also strike deals with smaller companies for compensation for purchases that came in from your traffic.
Generally speaking, you’ll want to make sure that any company that you partner with is related to your blog content. Otherwise you won’t drive too many sales, which won’t make you any money.
#3: Podcasting
Have something to say? Podcasts are more popular than ever, and if you have a good opinion, and can get a good number of followers, you can make some real money. Monetizing a podcast works in a very similar vein to standard TV product placement and promotions. Often companies will pay money to have you rep their product on the air. The amount of money you make per product placement will always be directly related to how many listeners you have, and also the amount of time given to the ad.
#4: Freelance Writing
This online money-making method may not seem the most glamorous, but it is a solid strategy. Building up a website with a following takes time, and dedication that some people can’t commit to. Freelance writing can be done in your spare time, and thanks to services like Freelancer and UpWork, it’s easy to find work. Depending on how much extra time you have to devote to this writing, there’s really no limit to what you can make. What you charge for you service will have to depend on your level of creative writing, though services like Grammarly can also help to increase your writing level so that you can charge more.
#5: Sponsored Posts
If you have a solid social media following or a website that gets a decent amount of traffic, you can make some extra money by selling sponsored posts. There are a lot of companies that are picking up on the influencer marketing movement, and they are looking for channels and online figures that have large following who are willing to promote their products. You can make some serious money by selling sponsored posts on your channels.
The amount that you can charge per post is dependent not only on your following, but also by post engagement. Companies have caught on to the fake followers, so just having a million followers won’t cut it anymore. You’ll want to know what your post engagement stats are and use both the quantity and quality of your followers to sell your posts.