We could begin this article by asking ourselves that is it real and not a fallacy of the old, that people actually make money online. Do people make money sharing their idea like those who are into presentation, public speaking and the likes? Do people make money by teaching what they know online like teaching Excel, Powerpoint, Programming, Music and the likes? Well, the answer is a definite YES.
The internet is a veritable tool in the hand of discerning individuals who knows how to leverage on it, and create a steady source of income for themselves. If you have been a good teacher and you could teach people how to do certain things, or you teach a subject and you have a track record of student passing their examination successfully under your tutelage, then expect that you could do the same and more online. When it however comes to doing it online, you could leverage on the power of technology to create your course/subject and make it available to larger audience, outside your own very geographical boundary and even beyond the shores of your country. It is not uncommon to have people who teaches online, who have had like 5,000 student who have taken their course/tutorial/subject within a year.
Let’s do a simple maths, if the course is an average course and you are charging like ₦2,000 for each student to access it and assuming you even have half of the number I mentioned above, then your income for that year should be 5,000 X ₦2,000 = ₦10 million. Wow, that is an income, which some people will not be able to make in 15 – 20 years as their total income. No exaggeration intended.
But I know so many people have been cajoled that they could make money online in the past even while they are sleeping, but while this is not far from the truth, the fact is that what they are trying to sell then are unrealistic strategy like affiliate marketing, Google adsense and the likes. Do you really know some people are making a ‘kill’ on the internet day-in day-out, but who are those that are making the real money? Is it the marketers or the product owners?
Do you really sit down to think about it, when a marketer prides himself or herself that he/she made a thousand dollars, for whom are they selling and who is determining how much they make, and how much do those people make when the marketer makes that much. The content or product owner in order to sell more of their product what strategy do they employ? They recruit people like you to sell for them, they will give you analysis of how much you can make by selling so much for them, imagine if they employ the services of 10 marketers and with the promise of 20% commission for each sales made. Let’s go and do another simple maths;
Assumption: Each marketer made a sale of ₦100,000 and each made ₦20,000 as commission, while the product owner will make 10 X ₦80,000 (₦100,000 less the ₦20,000 commission) = ₦800,000.
Though everybody made money but somebody made more money with little or no effort than the others, which happens to be the owner of the product with ₦800,000 cool cash.
What is the lesson learnt, it is actually the content or business owner that makes the more money online, hence the same way it is in the real world, so also it is on the internet. So, do not be deceived that you cannot make money online, though I must admit that it takes time, but it can surely be done and once you have achieved that, you could replicate other success and multiply your revenue.
A search through some of the people that teach online will reveal that some have had more than 10,000 students who have taken their course while some other have had just less than 5. The difference is in the below factors;
- How relevant is your course(s): If you create a course that people do not really desire, please expect no sales.
- How beneficial is your content: Some people have hungry customers for their courses but they have bad or inappropriate content. If what you covered in your content is not satisfying the needs of your users or, it satisfies but it is inadequate and cannot meet or fulfill their needs, please expect poor sales. May be one or two people who made the mistake of buying initially and would now pass a bad review concerning you and your product. And that would mean a red flag to other buyers.
- How often do you respond to their question/complaints: Feedback is very important in any business and it enables you to take actions which will benefit your users and yourself eventually, after all, they are the reason why you created the content, and it must be fashioned along side what they require. Keeping in touch with your users is very important, as this is one of the factor recognized by the high income earner and it separates the losers from the winners. Even with a not-too-superlative content, some people recorded amazing sales because of the relationship they have built with their customer. You can continue building and spending serious money on branding your business, but with disgruntled customers you will never get far, before they pull you down.
- Advertisement: Exposing your content or courses to the potential users or students is very critical, if you have the best content in the world and the people who needs it do not know it exists, please expect little or no sales. There is the need for you to have a little understanding of social marketing tools, internet marketing skills and even offline marketing strategy such as using word of mouth, handbills, and others.
- How often do you keep your content updated: Keeping your content fresh and updated is very essential if you want to be making the money regularly unless you are just creating a one-off product/courses/subjects. The more relevant and up-to-date you make your content, the more the trust and loyalty of your customer to you and your business, afterall nobody want to dwell on no-longer relevant ideas or knowledge, for example teaching people how to use typewriter in this computer age is useless.
Though the factors enumerated above are non-exhaustive, yet having a foreknowledge of them could set you out clearly and ensures you could create for yourself a sustainable source of additional income or perhaps a business that you could expand upon.
So re-phrasing my question, I will like to ask “Do You Really Want to Make Money Online by Sharing Your Knowledge/Skill/Expertise?.” It is really a million Naira question and the decision to follow through, could set you apart from others not overnight but with time.