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Making money online

posted 2 Sep 2009, 05:27 by Mario Pedroli   [ updated 3 Sep 2009, 02:55 by Jeffrey Visser ]
Are you in the communications business? Than you must be swaffled to boredom by people telling you that online, social media or web 2.0 stuff is what will lead you to success. At what cost and at what immense personal effort is not part of the message. Fact is that blogging, dialogue marketing, launching virals, and all that, takes a lot of your time and does not give you any garantue on return of investment.

So who is making money online and what can we learn from them? Here are some results (net revenues) of companies that do only use the online channel: - 12 billion dollar; - 225 million euro; - 8,5 billion dollar.

Two examples.
Dell uses Twitter to announce the sell of refurbished products. Because these products are unique and have no scheduled release Twitter is a good medium to keep posted on opportunities. And the rumour spread fast and easily. Dell made 2 million dollars in 2008 and will make 3 million in 2009. Not bad for something that didn't require much investment. Not to mention the million Twitter followers (customers).

Istock is a stock image broker: they sell images to the communications branch. If you pass a pretty severe test you can submit and sell your own images on their site. Istock needs high quality images in order to meet their promises and keep their credits. Checking the technical quality of thousands of images submitted every week is a hassle that would increased the price beyond competition limits. Therefore contributers are asked to become a quality guard. The more and the better they work, the higher the price they get for their own pictures. Istock set up a system of self paying self control.

If you like to make money on the internet your core would be selling, but the tools to boost that could very well be social media based.