Reddit is one of the most popular websites in the world and it’s definitely gained a lot of popularity since it was founded in 2005. Reddit is the third-largest social media network in the world, only after Facebook and Twitter. It currently has over 600 million active monthly users who engage with content published by different users across the social media platform. Pretty cool!
Since its inception, Reddit has been a significant source of affiliate revenue for its founders Steve Huffman and Alexis Ohanian, who now serve as Co-CEOs of Reddit. These days, the website focuses mainly on promoting products and services relevant to its massive audience and has a store called Reddit Enhancement Suite (R.E.S) where users can buy discounted or promoted products to help them improve their experience on the platform. R.E.S. has also become a place where entrepreneurs can come to establish connections with potential customers, earn some extra money, and maybe even gain some social status by contributing useful content.
One of the most popular ways to make money on Reddit is through affiliate marketing. Simply put, affiliate marketing is when an online business earns revenue by promoting a product or service that is relevant to their niche. When a person clicks a promoted link or buys a relevant product, the business owner earns a commission. Pretty cool!
Since 2014, Reddit’s affiliate program has paid out nearly $60 million to businesses.
Due to its broad audience and popularity, it’s a great place for businesses to promote their products and earn some extra cash. This course will teach you the basics of how to make money online in a short amount of time with little to no experience. You’ll learn how to leverage affiliate marketing to promote products that you know are relevant to your niche and make money online.
Top 5 Ways to Make Money Online
There are several ways to make money online, whether you’re a natural born entrepreneur or looking to get into the industry for the first time, knowing how to play the game is essential. Here are the top 5 ways to make money online without any previous experience.
1. Create a Blog
If you’ve been reading my content for a while, you know I’m a big fan of blog monetization. Why? Well, creating a blog is a great way to make money online and establish yourself as an expert in your industry. If you want to do this, you need to follow 3 basic steps.
STEP 1: Join Blogger Networks
There are a number of affiliate networks that will pay you to promote their products and services. Simply find a relevant blog in your niche and you’re good to go! Within those affiliate networks, you’ll find hundreds of relevant blogs that you can choose from. Some of the top-paying networks include:
- Amazon Associates
- Google Affiliate Marketing
- CPA Marketing
Once you’re in the network, look for affiliate programs relevant to your niche. Once you’ve joined those platforms, you can get to work promoting products and services that you know are relevant to your audience.
STEP 2: Create Great Content
If you’ve ever read a Grant Gilmore book, you know that he talks about creating “premium content” that is beneficial to your audience. Essentially, premium content is any unique, authoritative, or entertaining content that is not available free of charge.
Since your content will be hosted on a third-party website, you want to make sure that the quality is there. Otherwise, readers may experience a poor user experience and ultimately leave your content.
To ensure that your content is engaging, add value, and of high quality, you need to follow these steps:
- Research the topic well
- Find a unique angle
- Create a step-by-step tutorial
- Annotate the content with a clear call to action
- Use images that are relevant to the content
- Break up the text into paragraphs
- Add sufficient supporting evidence
- Use a mixture of prose and visuals to grab the attention of your readers
- Never, ever use material that is available free of charge
Once you’ve followed these steps, you’ll be able to create an authoritative blog that provides value and entertainment to your audience.
2. Start An Online Store
If you’ve read my blog for any length of time, you know that affiliate marketing doesn’t just relate to making money from blogging. In fact, you can use the same techniques to establish an online store that sells physical products. The difference is that instead of making money from a blog that someone else owns and manages for you, you’ll be able to sell and manage your very own eCommerce store.
To get started, you need to pick a profitable niche, join the relevant affiliate networks, and then find a high-quality source of products that you can promote. The key to eCommerce success is consistency and there’s no one-stop-shop that can teach you how to be successful. That comes with experience. However, you can get access to countless online stores, tools, and resources to get you started.
3. Start An Affiliate Marketing Agency
If you’ve been following my blog for any amount of time, you know that I always recommend that entrepreneurs seek out affiliate marketing as an avenue to explore. Why? Because it’s one of the easiest ways to make money online. Simply find a relevant blog in your niche, sign up for an affiliate network, and then promote products that you’ve researched are relevant to your audience.
The best part is that you don’t need a lot of funds to get started. Simply invest in domain names, online stores, and affiliate tools. From there, you can scale up and operate your agency profitably.
4. Start An Investment Club
If you’re looking to make quick cash, you can start an investment club where you pool your money to buy high-quality physical products or crypto assets that you can then resell for profit. While this doesn’t require a lot of experience or knowledge, you do need to be able to follow set routines and protocols to ensure that your investment club is set up legally and you’re not risking any of your personal money.
One of the easiest ways to make money online is to promote affiliate products that generate sales for other companies. Simply find a relevant blog in your niche and you’re good to go. For example, if you’ve been researching the lifestyle and habits of millennial shoppers, you could start a blog dedicated to helping other businesses understand and reach this audience. Or, if you’ve been analyzing the market share and preferences of gamers, you could start a blog that teaches other companies how to better market and sell their products to this audience. In these cases, you would simply be acting as an online marketing associate for other companies. Not only will this earn you money, it will also allow you to learn first-hand about your target audience’s needs and interests.
5. Join A Startup Incubator Or Venture Capital Group
Last but not least, we have startup incubators and venture capital groups. These are business accelerators that provide startups with the tools, networks, and money needed to grow a business. Since they are venture capital groups, they typically work with early-stage companies that they believe have the potential to grow significantly.
Joining a startup incubator or a venture capital group doesn’t require a lot of experience or knowledge, but you must be able to follow set routines and protocols to ensure that you’re effectively using the resources available to you. These business accelerators and venture capital groups can help get your business off the ground by providing you with the funding necessary to grow.
If you’ve been following my content for a while, you probably know how important it is to have a passive income stream. Not only will this allow you to enjoy a better life, but it also means you’ll be able to fund your future ventures or investments. In 2020, you could look into joining a startup incubator or a venture capital group to gain the resources necessary to grow your business.