Friday, January 18, 2013

Money Hack #12 - Google Adwords

We all see the Google ads on the right side of the screen when we search for something and never click on them.  However, if millions of people see them - eventually someone does.  Good click through rates are typically 3% and above.

I only say this because there is a way to create a few quick revenue streams with adwords by leveraging referral programs.

So it goes like this:  Referral program #1 offers you $10 for every customer you refer and also gives $10 to the new referee.  That's not bad.  Only ... how do you get people to use your link?

Well .. Google Adwords is a fantastic way.  Pop an ad on there that says "Use this link and get $10 off of your first order".  Who won't click on that?  In my experience, about 10% do indeed click on the ad.  Referrers sign up and you get your $10 each time.

In the end you'll probably spend about 20 cents on Adwords to make a dollar, but that's an 80% margin.  Imagine if you had 50 referral sites going on at once?  Pretty decent income.

They also give you $100 credit for new adwords accounts ....