May 20, 2013, 9:57 am

Making Money Online is Dead

by: The Financial Blogger    Category: Make Money Online
email this postEmail This Post Print This PostPrint This Post Post a CommentPost a Comment

 

 

I probably knew this a while ago but it just punched me in the face last night

 

Every Monday night, I meet-up with three other guys producing websites for my Master Mind Group Meeting. Each week, a different member is in the “hot seat” where he shares a problem or project he is currently working on. It was my turn last Monday. From time to time, I have a spark in my mind and the urge for creation haunts me down until I build a new site.

 

These urges have created sites such as my EMT resource. They are relatively small niche sites generating roughly $30 to $50 per month. I put about 25 hours of work on it and I’m getting 1 hour per month worth of my time back since then. It’s been a year, so I’m still short on this project. Not sure it’s the right way to do business though… Anyways, back to my Monday Master Mind Story:

 

My project of the week was one of those sparks resulting in another small niche site project. I had researched keywords using Market Samurai, built the site structures (topics, categories, etc) along with traffic and monetization strategies. The discussion went well until we hit the nail; my traffic and monetization strategies were obsolete.

 

Making Money Online As You Have Read It On So Many Websites Is Dead

 

I’ve been in this industry for too long I guess. Long enough to have experience, but so long as to get cozy in a single business model without looking outside of it. I have been using pretty much the same strategy for the past 6 years on most of my websites and this is probably killing my business.

 

I’m well diversified and the business model has been proven to be stable. However, I have lost the connection to the “new waves” and am realizing that I’m falling behind. Most people talk about link building, keyword research, web 2.0 properties and other SEO strategies. The trick is that everybody uses the same strategy and Google knows it.

 

So if you are starting your site today, all the reading you do and the courses you take won’t lead you to anything. It will definitely work over a short period of time but your site will crash and burn upon a Google update. Therefore, most link building strategy is probably useless over the long haul. It is useless because Google will sooner or later find your pattern and then, your site will be penalized. Their latest techniques were based on looking at an abnormal amount of exact keyword match use for anchor text. When you think about it, what are the odds that 200 links to your site all use the same 5 keywords? So much for link building, huh?

 

The traffic building techniques are changing and the monetization strategies have evolved as well. The no brainer ways were to optimize your adsense blocks, write a few affiliate reviews hope to make conversions. It is still working (I’m still making a lot of money with these techniques), but this is not where the money is.

 

So How Do You Make Money Online In 2013?

 

Ahhh…. That’s a great question… which I don’t have a direct answer for yet! But this is what I’ll be working on in the next few weeks! I’m not out of resources for the moment and I’m already working on other ways to make money so far…

 

Newsletter

 

I’ve been repeating this for at least a year now: the money is in the list. The main reason why I focus so much on my newsletter strategy is because I can attach my reader to my site without the help of Google. My subscribers follow my blogs and will come back to read an article each time I send them an email. The key here is to catch as many readers as possible that come to my site through Google the first time.

 

Membership Website

 

This is another of my projects that will look like a “real business model” and a more classical way of making money. I still have the target to launch my membership website by the end of the year. It will be coupled with another investing book which I should finish in the next six weeks. Using Amazon has been a great strategy to boost our income in 2012 and we will continue on this route.

 

Build Smaller Sites With Greater Content

 

Instead of focusing on keyword research and link building strategies, I’ll try something completely different for my future sites: create an awesome user experience. This is how I can make sure my readers will come to my site, bookmark it, subscribe to my newsletter and follow my suggestions for affiliate programs. Instead of trying to make a quick buck from Adsense and have visitors leave as soon as they come in, I will try to make them stick around and read 3, 4, 5 pages of my sites and have them take an action. I’m not reinventing the wheel here but I think the future of making money online will go there.

 

Using Different Media

 

Another important point is to use search engines other than Google. Using Twitter, Facebook, YouTube, Podcasts are all ways to generate traffic towards a site that are independent of your keyword ranking abilities. We got our mic and software to do screen captures so we should be entering into the production phase shortly.

 

I’ll probably start with a 5 minute market review podcast for my investing sites. Since I follow the markets with passion, it won’t be hard to produced a 5 minute show weekly! I hope to build my brand and gather more loyal readers that way.

 

What Else?

 

So this is where I’m standing at right now. I don’t have a clear answer nor a clear strategy but I’ll be working on my structure first and then, implement different things. What are you doing different now for your sites? Have you used any of these strategies yet?

 

image credit

Similar Posts:

You Want More? Sign-up! ->
TFB VIP Newsletter


If you liked this articles, you might want to sign for my FULL RSS FEEDS. If you prefer to receive the posts in your email, subscribe CLICK HERE


Comments

I am working on building my list. I waited too long to do it, but now is the time. The money is always in the list, but few people (including myself) actually invest the time in building one.

I think you are right Mike, about user experience being an important factor. This will naturally lead to better Time on Site and Bounce Rate statistics, which seem to be more important to Google these days. The problem is, for users to be able to get that experience they need to get there in the first place. Some of the white hat link building and SEO techniques might still be necessary. I am finding this out through my own experience.

Mike – Did something specific happen to cause you to write this besides meeting up with your group?

I think focusing on niche sites is becoming more and more a losing proposition. With every update, niche sites seem to lose out over Prime Sites.

by: The Financial Blogger | May 20th, 2013 (12:06 pm)

@Grayson,

building a list requires a lot of time but it’s definitely worth. Nobody can take away your list once it’s done 🙂

by: The Financial Blogger | May 20th, 2013 (12:06 pm)

@Matthew,

I know, it’s the biggest catch-22 of the internet! you need traffic to provide a good site and a good site needs traffic to be proven a good a site!

by: The Financial Blogger | May 20th, 2013 (12:08 pm)

@Financial Samurai,

I did my meeting with the group, it’s during that time I realize I need to work more and create bigger niche site (now called authority site) in order to make money from those.

Technically, I still consider them niche site (after all, Pat’s home security guard training site is called a niche site) but good niche site are now considered as authority site. This is definitely where the future is.

These methods changes a lot. What might work before is not effective anymore. So what we can do is adapt and create unspammy strategies as we can.

by: Financial Samurai | May 21st, 2013 (2:09 pm)

I call a bigger authority site a Prime Site.

The term authority sites have become very dilutive IMO. Is the income earned based off the topic on the niche site, or products on how to make a niche site, that is the question.

Hahaha! too many names for the same thing 😉

in the end, what will really work is sites providing a great experience to visitors and answer their questions / fullfill their need.

I see that this post elaborates on the most recent post’s list. I appreciate that as I was in need of some clarification earlier.