The Digital Marketing industry is booming as businesses leverage more technical assets for advancement. People are curious to know how to make money with Digital Marketing and open a path to passive earning.
According to LinkedIn, the global Digital Marketing market size was estimated at around USD 321 billion dollars. Marketers are highly anticipating it to evolve at a (CAGR) compound annual growth rate of 13.1% approx.
It may reach a market value of around USD 671.86 billion by 2028–giving opportunities for more financial growth. If you also wish to earn money with Digital Marketing, we will discuss 10 ways in this article.
Can You Make Money With Digital Marketing?
Yes, Digital Marketing gives plenty of opportunities to make money online. In today’s highly competitive environment, this may be the quickest way to earn passive income.
However, you should stay up-to-date with the latest trends and marketing practices to maintain a steady income flow.
One must learn its best practices, tools, and strategies to make money with Digital Marketing. Given that, here is what you should know:-
- Latest Trends
- Marketing Scope
- Blogging
- Social Media
- Data Analysis
- Management and Resource allocation
- KPIs (key performance indicators)
- Proven Strategies and SEO skills
Let us learn what digital marketing is and its importance to understand better how to make money with digital marketing.
What is Digital Marketing?
In the 1990s, “Digital Marketing” was first used in merchandise and sales. Coupled with the launch of the search engine “Archie” and the clickable web ad banner in 1993, it quickly gained popularity.
However, back then, many people did not know how to make money with Digital Marketing. The development of the Web 1.0 platform in the 1990s fueled its concept. But, it only allowed searching for information but not sharing it over the web.
The umbrella term took a transformative turn with the inclusion of online marketing tactics such as SEO, CRO, PPC, blogging, and web design.
Today, it is actively used to promote brands and reach more people across the web via the internet. Its other digital communication channels include:-
- Email Marketing
- Social media
- Web-based advertising
- Text and multimedia messages
- Mobile apps
- Landing pages
Many different types of strategies and approaches are used in Digital marketing. Some of them are listed below:-
- Content Marketing
- Search Engine Optimization (SEO)
- Social Media Optimization (SMO)
- Search Engine Marketing (SEM)
- Social Media Marketing (SMM)
- Affiliate Marketing
- Email Marketing
- PPC Advertising
- Video Marketing
Why is Digital Marketing Important?
Digital Marketing has become an integral part of the business industry. Businesses can connect with customers online and make money with Digital Marketing.
Given that, here is why it is important:-
● Reach A Wide Audience
Digital Marketing lets companies and brands reach a wider audience, including international or offshore people. It allows businesses to scale and build loyal customers across the globe.
● Target Potential Customers
Unlike traditional marketing, you can segment and target an audience that may have an interest in your business, products, or services. Demographic factors, such as age, gender, and location, affect how, why, and where customers shop.
Businesses may use these factors to improve sales with segmented audiences.
● Improve Brand Awareness
Improve brand awareness, increase sales, and make money with Digital Marketing. Its proven approach to establishing a positive brand reputation and awareness in the market helps businesses scale.
Furthermore, it nurtures the producer-consumer relationship, generating more sales and profit.
● Increase Customer Engagement
Digital Marketing increases customer engagement, which is really important for businesses to drive sales and build a loyal customer base. Its key practices, such as social media, email marketing, personalized websites, and mobile apps, provide routes for customer engagement.
● Provide Real-Time Feedback
Businesses can have consumer feedback with real-time data analytics, conversion tracking, social proof, online surveys and feedback forms, and more. Businesses can access data and analytics, which allows them to analyze the progress of their marketing campaigns instantly.
● Increase ROI
Return on investment, or ROI, is a marketing aspect that indicates how much profit a business is making in the market. Digital Marketing practices improve content quality, use data analytic tools, and streamline budget allocation and audience targeting for increased ROI.
Now that you know what digital marketing is and its importance for the business industry let us see how much digital marketers earn.
How Much Money Can You Make With Digital Marketing?
How much money you can make with Digital Marketing entirely depends on the scale you are working, what resources you are using, what audience you are targeting, and whether you are outsourcing services, working as an employee, or generating revenue for your own business.
The average earning of a Digital Marketer depends on the location, company scale, expertise, knowledge, and more. On average, Online Marketers in the US earn about $77,381 annually or $37.20 per hour.
Digital Marketing also fuels financial growth for businessmen and freelancers. We will now discuss in depth some ways to make money with Digital Marketing.
How to make money with Digital Marketing?
Here are some ways to make money with Digital Marketing:-
Make Money As a Content Writer
The content writing field is highly regarded to make money with Digital marketing. You can start publishing articles, web content, blogs, and more for other companies and online channels.
Content Marketing requires unique, plagiarism-free, readable, and engaging content. Typically, articles, posts for social media, and scripts for videos are required in it.
To become a content writer, you must have:-
- Writing skills
- Keyword research skills
- SEO skills
- Analytical skills
- A college degree in a related field such as journalism, marketing, or communications.
How much money can you make as a content specialist?
How much money you make as a content writer depends on several aspects. Whether you work as a freelancer salaried person, or run your own business. On average, the base salary for content writers is $57,900 yearly.
SEO Service Executive
SEO is probably the most important part of Digital Marketing. It is one of the key areas that can help you make money with Digital Marketing.
You can offer various services as an SEO executive, including:-
- Technical SEO
- Keyword research
- SEO audit
- Consultation
- Local SEO
- Off-Page SEO
- Case Studies
- Link building
- Competitor analysis
However, to do this, you must learn how search engines work and what the latest algorithms and trends are following.
You can learn SEO from online-based web courses or enroll in a program that gives you an SEO certificate.
How much can you make as an SEO expert?
The moderate salary for SEO consultants per hour ranges between $75 to $100. This amount is highly variable and depends from country to country and the expertise of the consultant.
Earn Money With Affiliate Marketing
Affiliate Marketing may be the most adopted method for earning a passive income. It is a business module that allows you to earn commissions by selling other people’s products/services.
It is a straightforward process where you search for trendy products that you can promote, create a website, and drive traffic by Digital Marketing means.
There are two types of affiliate partnerships–Standalone programs and Affiliate networks.
In Standalone programs, you establish an account directly with a company, and in affiliate networks, you join and handle numerous partnerships on a single platform. Given that, here is how affiliate marketing works:-
- Add affiliate links to your online platform
- Customers click on your affiliate links
- Customers visit the merchant site
- They make a purchase
- The affiliate tracking system records the purchase
- The company verifies the sale as a valid purchase
- You receive the commission
Here are a few things that you should focus on while doing affiliate marketing:-
- Enrolling in a good affiliate marketing course
- Building an online presence on various platforms such as YouTube, Instagram, Pinterest, and TikTok.
- Adding the best affiliate links by joining programs and selecting trendy products to promote.
How much can you make from affiliate marketing?
Affiliate marketers can earn between $100 and $500 per month as beginners, $ 1000 and $10000 as experienced, and $10000 and $100000 as top marketers.
Sell Consulting Services To Companies
If you have some digital marketing skills and experience, you may level up to be a marketing consultant.
Here are some steps to get you started:-
1. Define Your Area Of Expertise
Gain skills and knowledge in Digital Marketing practices with a high demand for services. Some of the most popular options include:-
- Social media marketing
- Branding
- Video Marketing
- Influencer marketing
- Local marketing
- Email marketing
- Web analytics and reporting
2. Start Blogging
Create a website that acts as a venue for your business. Post testimonials, content, client reviews, and more. Try to make your website informative and user-friendly.
3. Grow your network
Lastly, grow your network as much as possible. Establish a professional reputation for your business in the market. This will help you drive potential clients and build connections as you move forward.
How much does a digital marketing consultant earn?
The fees of digital marketing consultants run between $50 and $150 per hour, but it depends on their area of expertise, project scope, and level of experience.
Google Adwords
Running online ads on your website is probably the easiest way to make money with digital marketing. You can do this by:-
● Use Google AdSense
Google AdSense is a free program through which you can earn a commission by showing Google ads on their sites. Based on your content and traffic, Google AdSense will match ads to your site. You earn a percentage of the income generated by each click.
● Use display ads
These ads include text, images, and videos that are generally displayed on websites or mobile apps. You earn a percentage of revenue every time someone clicks on an ad.
● Use sticky ad units
Sticky ads, sometimes called anchor ads, stay at their position when a user scrolls down the page. They result in higher viewability and increased ad revenue for publishers.
How much can one make selling ads on a website?
You will need to get at least 100,000 page impressions per month to generate income.
Google AdSense RPM (revenue per 1,000 impressions) ranges between $0.25 to $3.
Become a Social Media Manager
To generate income as a social media manager, you must have expertise in a variety of marketing tactics.
Basic Digital Marketing practices, such as writing and scheduling posts, creating graphics, and running ads, play a vital role.
You can either work as a salaried person or as a freelancer position to make money with digital marketing. Create a diverse portfolio of previous clients and case studies to justify your expertise.
How much can you make as a social media manager?
On average, social media managers make around $55K to $83,000 annually.
Sell Your Own Digital Products
Another method to make money with Digital Marketing is to sell your own digital products. Here, you can create or import products once and then sell them repeatedly. This results in higher profit margins.
Given that, here are some options that you can include:-
eBooks
Ebooks are the simplest digital products to create and sell online on various platforms. Still, many people do not know How to make money with eBooks. Amazon Kindle Direct Publishing, Smashwords, and Apple Books provide a good opportunity for this.
Courses
You may sell online paid video classes and e-lectures for students. Creating and selling online courses allows you to share your expertise and earn a good income. You can sell courses at:-
- Udemy
- Coursera
- Alison
- SkillShare
- Udacity
Web Templates
You can create and sell web templates for platforms such as WordPress, Shopify, and ThemeForest
How much can you make selling digital products?
The amount you make by selling digital products depends on your level of expertise and how much you create and sell.
Become a YouTube Advertising Partner
One of the most popular methods to make money with digital marketing is to become a YouTube advertising partner. Its mechanism is simple and straightforward.
You create a YT channel and post videos to build an audience. After reaching a specific subscriber count, you become a verified creator. Now, whenever someone plays your video, a different set of ads will show.
If they view or click an ad on your video, you’ll generate revenue.
Here is what you need to become a YouTube Advertising Partner:-
- Follow all YouTube monetization policies
- Over 4,000 valid public view hours in the last 12 months
- Have more than 1,000 subscribers on your account
- Account connected to AdSense
How much can you make as a Youtube advertising partner?
Videos with 1,000.000 views on finance and productivity make about $3000 – $5000.
Videos with 10 million+ views on trending topics can make about $10,000.
Videos on non-commercial topics can generate about $1000 per 1 million views.
Blogging On Paid Platforms
Another method to make money with digital marketing is to do blogging on paid platforms. Some of the best options for this are:
- Medium Partner Program
The Medium Partner Program is a free-to-join content-posting platform where you can earn money by delivering high-quality blogs and articles.
- Clubhouse
Clubhouse’s Creator First Accelerator Program allows content creators to create an audience and monetize their content.
- HubPages
This platform lets users make money by posting articles and blogs. The amount a blogger earns here depends on the number of viewers of their content.
- NewsBreak
Joining and creating content on NewsBreak is free, but in order to monetize your posting, you must have 100 verified followers and post at least 10 articles.
- Steemit
Steemit is a social media and blogging platform based on blockchain technology. Users can earn cryptocurrency, called STEEM, by posting content, commenting on posts, upvoting posts or comments, and more.
Personal E-Commerce Store
Opening a personal E-commerce store is a great way to make money with digital marketing. Here, you have to sell products on various platforms such as Shopify, Etsy, Facebook Marketplace, etc.
You just have to simply register on the platform using the ready-to-use templates available on each side and start selling. Use digital marketing practices to generate awareness about your E-commerce store and attract more potential customers.
You may add affiliate links to your products and promote them on websites such as:-
- Amazon Associates
- Rakuten
- ClickBank
- ShareASale
- CJ Affiliate
- Shopify
- eBay Partner Network
Takeaway
Online Marketing is not just a way to attract customers and boost sales, rather, it has opened various gates to make money with Digital Marketing practices. Its market size is increasing rapidly–giving more opportunities to people who wish to earn a passive income. Popular options such as affiliate marketing, content writing, Blogging On Paid Platforms, Becoming a YouTube Advertising Partner, Google Adwords, and more generate good revenue.
