There are many ways money can be made on the internet. In my own opinion and experience, these are the six (6) major and the best ways to do so in their order of importance:
- Freelance Writing,
- Affiliate Marketing/Advertising e.g. Amazon Affiliate, Google Adsense, etc.,
- Digital Product Creation e.g. eBooks,
- Products Reviews (on your Blog)
- Taking Surveys Online
- Online Courses
If you want to make money either as a blogger or as an author, the best bet still remains having a self-hosted website, though you may start as a free website, there are many platforms to do this: WordPress, Hostgator, BlueHost, SiteGround, Blogger, Tumblr, SquareSpace, TypePad, MovableType, Drupa, Joomla, Wix, Weebly, WPEngine, Blog.com, SimpleSite, Blogger, etc.
Note: The experts recommend WordPress as the best.
In this Part – Part 1, I will speak majorly on making money online as an Author.
If you are an author, you have chosen the overall best money making path. Why?
Authoring books generates the highest income.
- Book Publishing generates income 50% in Online Money Making ventures.
- Affiliate Marketing generates 25%.
- Online Courses generates 12% of the income.
- Speaking generates 10%, and
- Sponsorship generates 3%
Note: I think it is very conspicuous, of all the listed paths by Joan Penn, that Book Publishing generates the highest income generally.
Now, get these more facts to make the best of your choosing path to make money online
- Income by Formats
- eBooks sells 88% of the total income from all books formats.
- Print Books generate 7%.
- AudioBooks generates 5%
Note: What is this saying, you should make your books available in all formats. But, if you are asked to produce it in one format, obviously, that would be EBook.
- Sell on Multiple Stores
- Amazon KDP sells 62%,
- Kobo sells 12%,
- CreateSpace sells 7%,
- Apple iBooks sells 7%,
- Amazon Audible sells 5%,
- Nook sells 4%, and
- Others sells 3%.
- Fiction or Non-fiction
|Publishing Platforms||% Fiction Sold||% Non-fiction sold|
Note: Amazon owns CreateSpace, KDP, and ACX.
- We can deduce that Fiction (Imaginary stories – Novels) generates more income than non-fiction (Christian books, Memoir, autobiography, etc.), but this does not stop you to be a non-fiction writer.
- I would also suggest that, if you are a fiction writer, you should stay with KDP Select. If you are a non-fiction writer, you can diversify and use as many publishing platforms as you like.
Don’t forget to sip your tea when you are writing. Just playing!
Further resources and Readings on this Topic
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© 2017 Peter F. Adewumi
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