The Need for Online Marketers to Diversify - Why, How, and When
To demonstrate the utmost importance of WHY, as an Internet marketer, you should diversify, here's a popular case - Squidoo.
Since 2006, Squidoo was the go-to site for marketers. It is the brainchild of a famous marketer named Seth Godin, and according to seasoned Squidoo lensmasters (or members), Squidoo was built for affiliate marketing.
At Squidoo, you create articles which are called "lenses" over at the site. Because Google loves Squidoo, your lenses are almost sure to achieve top rankings in just a few months.
Many marketers have profited greatly from Squidoo and its authority in Google, and one of them is PotPieGirl.
Over at the Warrior Marketing Forum, some members were warning everyone against using Squidoo from the start. Their argument is valid. You don't control Squidoo. One change in their TOS is enough to unpublish your content, or worse, close your account.
True enough, in March 2013, Squidoo started implementing BIG changes. This is in response to an alleged "Google slap" that shoved Squidoo lensmasters away from the top spot of Google SERPs.
With Squidoo's effort to gain Google's trust back, many lenses and accounts were locked. To save their earnings, many lensmasters did everything they could to comply with the stricter requirements. Those who couldn't keep up gave up or moved their content to other sites.
From that alone, it tells you that there is no "stable" source of income online. But if you need more convincing, here are other popular cases.
- Several years ago, several states implemented nexus tax laws. In response, Amazon terminated their contract with affiliates residing in these states. Many lost their income.
- In May 2014, Google was accused of closing accounts of their Adsense partners right before they get paid. According to Lisa Irby, she has received close to 300 emails about account termination. Some of these accounts have been with Adsense for years and were making at least $10,000.
The takeaway is that you shouldn't be complacent you shouldn't rely on only one source of income online.
When should you diversify? The moment you realize that you are dependent on one or two of the following:
- source of income,
- mode of payment,
- registrar and web hosting vendor, and
- marketing channel.
Ask yourself this: If one of these gets terminated or has issues, will it leave you paralyzed? If your answer is yes, then you need to diversify.
How can you diversify? Here are some suggestions.
1. If you're dependent on affiliate marketing, consider other sources such as Google Adsense and e-book creation.
2. Enroll in programs that pay you via Paypal, check, wire transfer, and direct deposit.
3. Create multiple e-mail accounts. This is also true with other sites (e.g., Blogspot, Weebly, and social media).
4. Godaddy may be cheap, but don't put all those eggs in one basket. Consider other companies / registrars.
5. Create self-hosted niche sites, and at the same time make use of free hosts such as Weebly and Blogger.
Since 2006, Squidoo was the go-to site for marketers. It is the brainchild of a famous marketer named Seth Godin, and according to seasoned Squidoo lensmasters (or members), Squidoo was built for affiliate marketing.
At Squidoo, you create articles which are called "lenses" over at the site. Because Google loves Squidoo, your lenses are almost sure to achieve top rankings in just a few months.
Many marketers have profited greatly from Squidoo and its authority in Google, and one of them is PotPieGirl.
Over at the Warrior Marketing Forum, some members were warning everyone against using Squidoo from the start. Their argument is valid. You don't control Squidoo. One change in their TOS is enough to unpublish your content, or worse, close your account.
True enough, in March 2013, Squidoo started implementing BIG changes. This is in response to an alleged "Google slap" that shoved Squidoo lensmasters away from the top spot of Google SERPs.
Why Should You Diversify?
From that alone, it tells you that there is no "stable" source of income online. But if you need more convincing, here are other popular cases.
- Several years ago, several states implemented nexus tax laws. In response, Amazon terminated their contract with affiliates residing in these states. Many lost their income.
- In May 2014, Google was accused of closing accounts of their Adsense partners right before they get paid. According to Lisa Irby, she has received close to 300 emails about account termination. Some of these accounts have been with Adsense for years and were making at least $10,000.
The takeaway is that you shouldn't be complacent you shouldn't rely on only one source of income online.
When to Diversify
When should you diversify? The moment you realize that you are dependent on one or two of the following:
- source of income,
- mode of payment,
- registrar and web hosting vendor, and
- marketing channel.
Ask yourself this: If one of these gets terminated or has issues, will it leave you paralyzed? If your answer is yes, then you need to diversify.
Ways to Diversify Your Online Activities
How can you diversify? Here are some suggestions.
1. If you're dependent on affiliate marketing, consider other sources such as Google Adsense and e-book creation.
2. Enroll in programs that pay you via Paypal, check, wire transfer, and direct deposit.
3. Create multiple e-mail accounts. This is also true with other sites (e.g., Blogspot, Weebly, and social media).
4. Godaddy may be cheap, but don't put all those eggs in one basket. Consider other companies / registrars.
5. Create self-hosted niche sites, and at the same time make use of free hosts such as Weebly and Blogger.
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