Freelancing is a great way to make a living independently or to supplement income from another full-time job. However, the work can be quite unpredictable, and revenue can be sparse at times. Finding ways to make extra money can help you through the lean times. Here are five easy ways to make additional money online:
1. Affiliate Marketing
Start with your own blog or Web site. Affiliate programs allow you to earn a commission on sales generated through advertising links on your page. Some programs pay a percentage of the sale, while others pay a flat fee based on each sale. The key to success with affiliate marketing is to choose a reputable program — Amazon is a popular choice for many bloggers — and to feature quality products that have some natural connection to your site. For example, if you blog about health, you should feature health products. The more organic the affiliate ads appear to be for your site, the less they will appear like ads, which can be a turn off for many readers.
Whether you choose pay-per-click advertising or to sell ad space directly, your blog or Web site offers a lot of opportunities for you to make money with advertising. Programs like Google’s AdSense are very popular, and they pay bloggers a set rate based on how many clicks the site generates for a particular ad. If you build a lot of traffic to your site, you will eventually be able to sell advertising directly to other companies and to set your own rates.
There are many ways to make money writing reviews of products and services. You can write sponsored reviews on your own blog or Web site (which you will have to disclose), or you can start a Web site dedicated specifically to reviews. Many sites will also pay for your opinions through surveys or reviews written specifically for them.
4. Stock Photography
You don’t have to be a professional photographer to make money selling photography online. Web developers and bloggers always need photos for their Web sites and posts. You can make money by taking photos of everyday objects and situations and making them available for sale on sites like istockphoto.com. You earn a commission each time your photo sells, without ever doing any more work after your initial upload.
5. Domain Flipping
Domain names are like real estate for the Internet. You can purchase a domain name for about $6.99 (sometimes less). If you get lucky, or if you are fast enough to register a domain that becomes in demand, you can then resell it for hundreds or possibly thousands of dollars. Imagine if you had registered www.walmart.com or www.makemoneyonline.com early — those domains would be worth quite a bit now. The key is to research terms that are popular and timely to determine good potential domains and then to buy them quickly. You can park them and collect ad revenue while you wait to resell them.
Freelancing is a great way to make money online. However, when business is sparse, these simple strategies can help you supplement your income. Some savvy individuals can even turn these strategies into a full-time income. The amount of effort and talent you put in will determine your ultimate success, just like with your freelancing.
About the author:
Amanda Tradwick is a grant researcher and writer for CollegeGrants.org. She has a Bachelor’s degree from the University of Delaware, and has recently finished research on grants for college women and college housing grants.