4 Smart Ways to Create Multiple Streams of Revenue in 2018 (For Digital Marketers)
Everyone knows that self-made millionaires have multiple streams of income. As a digital marketer, you might be wondering how to make money in various ways. I have summarized the possible ways below.
4 Smart Ways To Create Multiple Streams of Revenue
1. Digital Marketing Agency
You can make a six figure income with an online business. Every business needs marketing; in this modern world, traditional marketing is fading away. You can’t track the money spent or find the conversions using traditional marketing in the same way as you can using digital marketing. This is just one of the reasons so many businesses have shifted priority to digital marketing. Social media marketing, email marketing, SEO, and PPC advertising services are all in huge demand at the moment. Make sure you offer all of these services.
To ensure your success, You can use SWEPS to guide your digital marketing agency. Pricing is an important factor that determines your profits. You guys always ask me about pricing, and you can watch this video where I talk about pricing your SMMA services.
2. Digital Marketing Consulting (Calls/Meetings)
You can offer your consultation via calls and meetings. As a consultant you have to be able to provide strategies and solutions to your customers’ problems. Do a detailed audit of their business and offer your recommendations.
Let your clients schedule a time using services like Calendly to reserve their slot. One great thing about offering consultation service is that there is a possibility that these clients may hire your agency for other services, since you know their problems already.
3. Speaking Events
If you want to grow your business you have to expand your network. Events are the best place to meet like-minded people, and you may even find potential clients.
You can share your views and experiences with industry experts at speaking events. Additionally, the latest technologies enable you to attend various events without having to travel. Webinars get a ton of reach, even more than real events nowadays.
To turn speaking events and webinars into another income stream, reserve a few days every month for your events. By offering these events, you are not only earning, you are also helping your community grow.
4. Vlogging and blogging
Videos and podcasts are in high demand. As a marketer you might already be using platforms like YouTube for advertising, but a great way to increase revenue is to start your own vlog or blog and monetize it. You can be an affiliate or use ad services like Google Adsense.
Make sure you follow a definite pattern in your posting schedule and mix up the content using a content calendar. The most engaging content will drive more traffic—which will get you more ad revenue. You can use your blog content to create videos and generate ad revenue from both your blog and YouTube.
Blogging or vlogging can also help you establish yourself as an authority in your industry. Let your prospects know your views through your blog while generating revenue at the same time.
Note: You should never ask the reader or viewer to click on the ads. These ads are one stream of your income but you should not compromise your quality.
If you are interested in reading more about making money from vlogging, read this article.
Do you have multiple streams of income that we haven’t covered here? Share it with everyone in the comments below.