Making Money Online

Online technology has not only created a platform for enhanced promotional activities, but also provides the means to do business. The potential seems boundless, with entrepreneurs and large corporations alike thinking creatively about ways in which the virtual arena can create a financial success that can be enjoyed in the physical world. But taking those first initial steps can be daunting. If you are struggling to make the most of digital technology as part of your sales and marketing strategy, here are our views about the key lessons you can learn from those that are achieving exponential success.

1. Build alternative revenue streams. While Facebook enjoys the largest market share in terms of online advertising, don't be fooled into thinking that it's a revenue stream that is only available to big corporations. By day, Tom Ridgewell is a 20 year old student with a passion for comedy. Online, YouTube has provided a means for Tom to build up his portfolio and showcase his work, as well as create an income of somewhere between £3500 - £7000 per month through advertising revenues. Not bad, given the current pressure on student finances.

• Explore investment opportunities. Gone are the days when a bank or building society was the only source for a much needed business loan or injection of cash. More and more entrepreneurs and inventors are turning online to seek funding. Sites such as Kickstarter allow people to upload videos to demonstrate the features, benefits and value of their products to prospective investors, and pride themselves on supporting quirky, creative projects that might not have seen the light of day had they taken a traditional funding route.

1. Extend your Live Events. We all know that running a client event, or attending trade fairs and conferences can be costly affairs. Online technology enables you to stretch your investment, offering greater opportunities to interact with attendees both before and after the big day. Establish a hashtag for your event, and use it on Twitter to gain build interest and followers in your plans. Record speaking slots and share these on your own YouTube channel, Facebook or website to re-engage with your audience, or promote to a larger population beyond the live event. Many Business to Consumer (B2C) brands excel in terms of combining online and offline marketing activities, offering special incentives and discounts online, that can be redeemed at the live event. Take a look at websites and social media channels, particularly those for restaurant chains and large consumer exhibitions (such as Chelsea Flower Show, The Ideal Home Exhibition etc...) for inspiration and ideas.

• Explore Guerilla Marketing Tactics. Some of our favourite viral marketing campaigns, most of which are done on a shoestring, can be found here. Low cost but high impact are just two of the benefits of taking time out to think differently about your promotional activities. As always, starting with your key audience in mind is the first step to creating a compelling, and value adding campaign.

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