So you are cruising along, making a good buck from your internet marketing efforts and then, BAM, all revenue ceases as your traffic source has changed things up and you get nothing from there or your monetization network has decided that you and they are not compatible.
Man, does that feeling ever suck.
I know the feeling as that has happened to me more than once and the first time was a killer… after seeing that happen a couple of times I realized that if I am going to stay in this industry in a positive cash flow situation I needed to diversify my online income revenue streams. Not a bad idea if you have more than one skill set but that can be a bit challenging if you are not loaded with abilities and training. There is actually a way around the lack of skills if you put your mind to it.
I’ll use my low level skills as an example and share some of what I do to keep my revenue steady as well as keep me from sweating it in the event that my traffic sources, or my advertisers, are no longer working as they have been.
Those that know me know that the lion’s share of my personal revenue (excluding my SEO Services) comes from larger sites that rank for thousands of keywords that are largely informational. That has served me very well over the past 8 years or so and the revenue from those sites is relatively steady for the most part. There are some issues as they are mainly business and finance sites and thus I have some dips in revenue at certain times due to the kinds of people that I attract to the sites. My target does not usually look for the kind of information I share on those sites on weekends and on Holidays as you can see from the revenue graph below.
As you can see there are some serious fluctuations in revenue there (monthly view of revneue) and that is mainly the weekends where my traffic drops very heavy and that is reflected in my revenue. Those peaks are pretty nice revenue times but those valleys can make a grown man weep. My challenge would be to find some diversification in my types of sites, my methods or income, my traffic sources or all of the above.
IMers Need to Diversify Their Income Streams
Almost all internet marketers have the same issue… their method of income is not as consistent as they would like it to be but many of us are complacent and just go with the flow. That is fine in some instances but in all reality, if you are not making money at certain times with some of your passive income methods, and are not doing something about it, I consider you lazy. I’m pretty anti-lazy so I have made some adjustments after seeing how my income was not a steady stream.
I looked at what I had in place; a bunch of larger sites that were largely informational that centered around business and finance. I looked at what I could do that was the opposite of that in a sense and started on a few different processes.
First thing I did was to build a large site that was recreational. I figured that recreational was the opposite of business and finance and would attract a different crowd at a different time so that my income stream would be a little more steady. I did the proper keyword research, wrote a bunch of content, looked at a different way to monetize and went to work. I still had not changed the variable of a large site targeting many different keywords in a broad niche but I did diversify my income stream. That gave me revenue on weekends which was nice but that site did almost nothing during the week.
I still had peaks and valleys, just at a different time during the week (weekly view of revenue from new site). That gave me a little more income diversification as to when I was generating income but the adjustment was really minor as it was essentially the same method using different a different broad niche and using different keywords; a niche with keywords that would attract a different crowd at a different time. Those that are server conscious would realize this is an easy way to increase revenue without a strain on your hosting servers as the traffic does not all come at once. I took my keyword research and writing skills and built an alternative online income… it was not rocket science but it did make a difference as to when the money was actually hitting my accounts.
That is a step in the right direction for me and would be for many others as to diversifying their online income. I have since ventured into other areas as well in order to make my income streams a broader base and those include building and ranking MNS sites, building an eBay business as well as a few others that are in the embryonic stages of development.
It is not all that hard and you do not have to go to foreign areas to develop a diversified online income if you just take a look at what you know and apply that in a way that is slightly different than you have been with your other successful online enterprises.