How to Make Money with Digital Marketing
Want
to learn how to make money from digital marketing?
Whether
it's starting your own online business, selling freelance services, or finding a
salaried job, there are many ways to make money using digital marketing.
In this guide, I'll present the 12 most effective ways to make money with digital marketing and some practical steps you can take to get started with each one. Let's dive right now.
These
are the most popular ways to make money with digital marketing.
1. Work as a social media manager
Working as a social media manager is a great way to use your skills to make money through digital marketing. As a social media manager, you will seek to grow a brand's online presence through a variety of marketing tactics
Your responsibilities can include everything from writing and scheduling posts, creating graphics, running ads, and responding to followers' comments.
There are several ways to find a job as a social media manager. You can take a salaried position at a company (we'll discuss how to find digital marketing jobs later) or work as a digital marketing freelancer.
Like selling consulting services, you need to build your network and build your reputation to gain a consistent flow of clients. Building a website with a portfolio of previous clients and case studies of your results can help you win new business.
How much can you earn as a social media manager?
Paid social media managers earn an average salary of $62,000 per year, with experienced managers making up to $75,000.
Your earnings as a freelancer will depend on the number of clients you have and your level of experience. New social media managers can earn anywhere from $15 to $50 per hour, while experienced managers can earn $50 to $100 per hour or higher.
Resources to become a social media manager
Social Media Marketing Courses – the 10 best courses to teach yourself social media marketing.
2. Earn money by selling ads
Advertising on your site is a popular way to monetize your website traffic. Keep in mind that your website must have a lot of traffic to reasonably monetize ads.
When
you're first building your audience, it's a good idea to support your
monetization efforts through affiliate marketing or by offering your own
digital products.
There
are many advertising programs you can use to monetize your web traffic, the
most popular being Google AdSense.
When you sign up for AdSense and add the appropriate code to your website, Google will start serving ads on your web pages.
Your
ads can generate revenue through views and clicks. However, Google pays very
little for views, if anything.
The
amount you earn will vary significantly depending on your website category,
audience demographics, and more. Regardless of these factors, you need to plan
to generate significant traffic to generate meaningful revenue.
Apart
from Google AdSense, there are ad networks with popular options such as Ezoic,
Media.net, and Propeller Ads.
If
your website is already getting a steady amount of traffic and you want more
control over the ads that appear on your site, you can sell ads directly on
your website.
Create
an Advertise with us” page for your blog that details the different ad formats
available and their costs. You'll want to include important traffic statistics
so buyers know the value they're getting.
If
you don't want to sell the ads yourself, there are several online marketplaces
where you can list your ads for people to buy. Some popular options include
BuySellAds and Blog Ads.
How many ads can you sell on your website?
Regardless of the ad network you use, you need 100,000 page views per month to generate meaningful revenue.
Google AdSense RPM (revenue per 1000 impressions) can range from $0.25 to $3.
3. Create and sell your own digital products
You
can make good use of your digital marketing experience by creating and selling
your own digital products.
One
advantage of digital products is that you can create them once and then sell
them again and again without having to keep buying new products. This results
in extremely high-profit margins and the ability to automate your business with
ease.
There
are several different types of digital products with more popular options,
including:
EBooks
EBooks
are one of the simplest digital products to create, and you can often use previously
published content on your blog to quickly put together the product.
Lessons
E-learning is the future of education as more
people turn to online resources to
expand their knowledge. Creating online courses allows you to share your
expertise with others and is a great way to meet that demand. In addition to
selling through your own website, you can list your courses on marketplaces
like Udemy to reach an even wider audience.
Web Templates
If
you have web design skills, you can create templates for platforms like Word
Press or Shopify. You will be able to offer your products on your own site and
other marketplaces such as ThemeForest.
Marketing
your digital products will involve using the same primary channels as a store
that sells physical goods. You will want to create a blog to drive traffic to
your website, collect emails and leverage email marketing and actively engage
with your target audience on social media.
One
thing to keep in mind when selling digital products is that you will be competing
with all the free content available on the internet. You want to make sure that
the product you're creating provides enough value to entice people to buy, and
that you've done an extensive research to make sure you're priced appropriately.
How much can you earn by selling digital products?
Selling
digital products online provides an opportunity to earn substantial money. You
can easily price your products for hundreds or even thousands of dollars. At
these prices, you won't need a lot of sales to generate meaningful revenue.
4. Become a YouTube advertising partner
If
you want to make money with digital marketing through videos, you can create a Youtube
channel and become an advertising partner.
The
process of making money on YouTube is simple. You create and post videos on
your channel and promote your videos to build an audience. A different range of
ads is shown each time your video plays.
When
someone views or clicks on an ad in your video, you earn very little revenue.
To be approved as an advertising partner, you must meet the following minimum requirements:
- Comply with all YouTube monetization policies.
- You live in a country where the YouTube Partner Program is available.
- You have more than 4,000 current public watch hours in the last 12 months.
- Your account has more than 1000 subscribers
- You have a linked AdSense account.
Introduction to Monetization on YouTube
As an advertising partner, you get paid for ad views. To determine your potential revenue, you need to estimate the number of video views you expect to receive. Because not everyone will watch the ads, your ad views will be lower than your video views.
How much can you earn as a Youtube advertising partner?
On
average, Youtube partners earn between $0.01 and $0.03 per ad view. This equates
to somewhere between $3 and $5 per 1000 video views.
Needless
to say, to generate a substantial income with Youtube, you need to generate a
significant amount of video views.
5. Become an e-commerce expert
As
e-Commerce continues to grow rapidly, the need for e-Commerce experts grows
with it.
An
e-commerce specialist is responsible for creating and executing a marketing
strategy to help businesses sell products online.
Some of the day-to-day activities of an e-commerce professional include:
- Website management
- Managing marketing campaigns
- Optimizing the store's SEO
- Adjust on-page elements to improve conversion rate optimization
- Setting up email marketing funnels
- Executing upsell and cross-selling campaigns
Being
successful as an e-commerce professional requires a variety of vital skills,
including communication, analytical and critical thinking abilities.
Here are some practical steps you can take to develop the skills necessary to become an e-commerce professional:
- Understand the ins and outs of e-commerce
- Become an expert in eCommerce SEO
- Get to know popular e-commerce platforms
- Learn how to run PPC ads
- Master conversion rate optimization
- Develop content and email marketing skills
How much can you earn as an e-commerce specialist?
Earn
Money Working as an Ecommerce Manager.
The
average salary for an e-commerce specialist is $58,000 per year, depending on
location and experience. Salary for eCommerce Managers can go up to $103 per
year.
Resources to learn about e-commerce
Top Ecommerce Courses – List of top courses and certifications
to follow.
Best Ecommerce Strategies to Increase
Sales
– Learn how to use digital marketing to increase sales for your eCommerce
store.
6. Manage
PPC campaigns for other companies
As
more companies turn to digital marketing channels to reach their target
customers, the need for effective ad campaign managers increases.
PPC
(pay-per-click) ads are one of the most popular forms of online advertising and
can bring instant results to a business.
PPC
platforms such as Google Ads and Bing Ads allow advertisers to bid for ad
placements on a search engine's results page when someone searches for a
relevant keyword.
Managing PPC campaigns comes with a number of responsibilities, including:
- Finding PPC Keywords
- Add negative keywords
- Testing ad groups
- Write ad copy
- Set bids and campaign budgets
- Reviewing expensive keywords
- Optimizing Landing Pages
Earning
certification from Google and Bing can help you hone your skills and increase
your credibility with potential customers.
Being
able to show the results of previously successful campaigns is crucial to
gaining a steady stream of customers.
Like
other types of services, you'll want to create a website to highlight your
skills and create content that can help generate traffic.
How much can a PPC campaign manager make?
The
average salary of a PPC specialist is $60,000 per year.
Also Read: 9 Reasons why Digital Marketing is effective for business
7. Get a digital marketing job
If you want to gain valuable experience before working independently or starting your own business, you can find a job in digital marketing.
There
are all kinds of digital marketing jobs, some of which we've covered in this
guide.
Some of the most popular places to search for digital marketing positions include:
- Actually
- Angel List
- Glass door
- Google for Jobs
- American Marketing Association
- com.tr
- WeWorkRemotely
- ZipRecruiter
How much can you earn with a digital marketing business?
The amount you will earn from a job in the digital marketing business will depend on your location, location, and experience.
Resources to learn more
How much do digital marketers make – a detailed breakdown of how much money you can make working in the digital marketing industry.
8. Build your own digital marketing agency
Now
is the time to start a digital marketing agency as companies are spending more
money on digital advertising than ever before.
To
start your agency, you'll want to develop a well-rounded set of digital
marketing skills so you can provide quality services to clients whatever their
needs.
Acquiring
customers will be absolutely critical to your ability to generate revenue.
You'll want to find the clients we mentioned earlier and take steps to
implement them at scale.
Managing
an agency has its advantages in this context because you can use your team
members to handle most of these tasks for you or outsource the work to
freelancers.
When
you set up a digital marketing agency, there are several ways to bill your
customers:
Hourly: With
hourly billing, you change your clients for the number of hours you work on
their projects. This method is easier when you spend a lot of one-on-one time
with the customer, as complex service offerings can be more difficult to track.
Servant: This
is the simplest payment model as you determine how much work to do for the
client and you both agree on a flat monthly fee. This model is often easier for
customers as they know how much they will pay upfront.
Percentage of marketing spends: With
this pricing model, your agency charges your clients an agreed percentage of
the amount they spend on marketing. This is an attractive model if your
customers are growing rapidly as your revenue will increase with their
business.
How much can you earn by starting a digital marketing agency?
The
amount you can earn from an agency will largely depend on how many clients your
business has. The average cost of digital marketing services for small
businesses in 2020 ranges from $2,500 to $12,000 per month.
If
you can find 10 stable clients, your agency can generate a solid income.
Key Learning’s
There
are many different ways to make money with digital marketing.
You
can learn a variety of skills and sell these services to customers, including
SEO, PPC management, e-commerce, content marketing, or social media management.
Creating
a website with a blog helps you hone your skills and can be used to attract new
customers to your services.
If
you want to sell products, you can create your own digital products or join
affiliate programs and sell products from other companies. You can use your
website as the center of your business and add extra monetization by running
ads on your site.
If
you want a permanent job, there are plenty of companies hiring for digital
marketing positions, and there are tons of job postings to find open positions
quickly.
If
you want to start your own marketing business, you can create a digital
marketing agency and sell a range of services to your customers.
Digital
marketing will only grow. Taking the time to improve your skills is worth the
investment and will open up more opportunities for you.
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