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How to Find New Revenue Sources for Your Online Business

How to Find New Revenue Sources for Your Online Business

Not only is your online business up and running, you’re doing a good job of selling what you have to offer and—most importantly—you’re actually turning a profit doing it. Kudos to you, and that’s not a reference to the delicious cereal bar. Making money with a startup is no easy feat, so that’s really something to celebrate.

You’ve probably learned a lot in the early going, like how to figure out who your core audience is and why it’s more important to have a website that’s easy to use than one with all the bells and whistles (unless you sell bells and whistles, of course). Maybe you’ve even discovered that the Pareto Principle applies to your business, with 20 percent of your products or services accounting for 80 percent of your sales, and used this knowledge to focus on your strengths.

While your business was still in its infancy, these were all important things to learn but now it seems like you’ve plateaued. Growth is stagnant and you might even be feeling a financial pinch from trying to expand before your revenue streams were ready for it. What do you do to get more money and keep growing?

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Easy: find new revenue streams.

Okay, okay. Admittedly, “easy” probably isn’t the best word to use, but there are a number of ways that online businesses can do to add revenue sources, such as…

Add products or services.

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add products

    Maybe your online tea business is selling hand-crafted tea cozies like crazy, but people don’t seem to be as interested in the tea kettles or the tea itself. You rightly focused more on the cozies because they were working but it’s not enough. Ever thought that perhaps you don’t have a tea business, but a cozy business? Try new products like coffee cozies, beer cozies, or toaster cozies and see how they do. A service company like a junk removal business could think about offering a separate moving service because it still involves hauling things.

    Expand your customer base.

    write a guest post

      If could be that you’ve hit your revenue ceiling with your current customers because they don’t have any more money, or they’ve already bought everything you have. Get new customers (i.e. revenue sources) by marketing yourself to a wider audience using new SEO terms, guest posting on different sites, joining more social networks, using PPC advertising, and more. Of course, that doesn’t mean you can stop appealing to your core audience; you just have to find ways to reach out to others without alienating them.

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      Join an affiliate ad network.

      Most businesses don’t like the idea of putting up ads for other companies, and especially fear driving visitors away with banners and pop-ups that are intrusive and annoying, but it doesn’t have to be that way. Amazon’s Associates Program lets you link to anything on their site in a contextual way and make money doing it, while Yahoo Publisher Network, Google Adsense, and others pay surprisingly well for ads that do little to disrupt your site. Perhaps the best part is that you can typically choose the kinds of ads that you want to display. In this way, you ensure that they reflect products and services that interest your customers. Some people have had amazing success using affiliate marketing.

      Get outside investments.

      Kickstarter

        This one works best with companies that are “big ideas” but don’t have a plan on how to monetize the business. Business ideas like Facebook and Twitter, or even companies that want to create something like a video game and sell it but don’t have the necessary money to create the game themselves. Kickstarter and websites like it provide you with one option but you can also utilize your own network to find people willing to invest money now for a piece of the profits later.

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        These suggestions are only the tip of the iceberg when it comes to finding new revenue sources for your business. You just have to be creative—some companies even make money by outsourcing their employees to other businesses when things are slow. The key is to keep the money coming in while you work on growing the company.

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        Last Updated on February 11, 2021

        Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

        Want to Get Free Product Samples Like Bloggers and Beauty Gurus Do? Read This.

        Imagine receiving a regular supply of free samples through your letterbox?

        These free samples by mail could include things such as cleaning products, cosmetics and packaged food.

        Free samples are a great way to try out some of the latest products. One week you may have a new toothpaste to try – the next week you may be snacking on a delicious chocolate cookie sample.

        As the saying goes, variety is the spice of life. And by requesting free samples by mail (I’ll show you how shortly), you’ll have not just variety – but fun too!

        Tell Me More About Getting Free Samples Sent to My Door!

        So, it looks like I’ve caught your interest. That’s great news!

        Just before I introduce you to 10 places where you can get free samples by mail, let me clarify a couple of things.

        Firstly, all the places I’ll talk about are currently active in sending out free samples to consumers. (In other words, no links to out-of-date or dead pages!)

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        Secondly, location is key. If you live in North America, then you’ll have a wide selection of places to sign up to. In other locations (for example, Africa, Asia and Europe), you’ll have fewer choices – but free samples by mail are still a possibility.

        Lastly, to whet your appetite for the freebies, here’s a short list of product examples:

        • Pet food.
        • Beauty products.
        • T-shirts.
        • Greeting cards.
        • Wallets.
        • Snack bars.
        • Vitamins.

        Free Samples by Mail… Tell Me Where to Get Them!

        It’s now time to share my recommendations for the best sites to claim free samples from.

        Let’s start with…

        #1 SampleSource

          This company sends out boxes of 6-12 free samples about four times a year. Products include baby wipes, cereals and tissues. Register with SampleSource to be notified of the availability of their free samples. (Canada and U.S. only.)

          #2 Influenster

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            As their name suggests, Influenster wants to send free samples to you in exchange for you sharing about the products on your social media accounts. Once you’ve become a member (join for free!), they’ll send you a box of free goodies every few months. The more you share pictures and reviews of the products – the more free samples they’ll send you! (All major territories.)

            #3 PINCHme

              This organization will send you free samples in the hope that you’ll then go out and buy the equivalent full-size products. To receive regular boxes of free food, drink and cosmetic samples (and sometimes coupons), then sign up and create your profile. (U.S. only.)

              #4 House Party

                Thinking of throwing a house party? If yes, then be sure to sign up with this company. They’ll send you a box of ‘themed’ products and services that you can hand out at your party. Register with House Party. Wait for the fun freebies to be mailed to you. And then start sending out your party invites! (Worldwide.)

                #5 YoFreeSamples

                  This site is a great resource for a whole host of free samples that can be mailed directly to your door (with no survey requirements!). You’ll find anything from books to perfume, with new offers listed daily. Head over to their site to see what’s currently available. (Mostly U.S., with occasional offers for other countries.)

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                  #6 Magic Freebies

                    The U.K.’s most popular freebie site. Register for their email newsletter, and they’ll send you a daily email with eight free sample offers. These include products such as disposable razors, dog bowls, and even fake tan! So, what are you waiting for? (U.K. only.)

                    #7 SweetFreeStuff

                      Since 2002, this simple site has been linking to the best free sample offers currently available. To get started, sign up to their daily email newsletter, which contains links to the latest offers. As well as free samples, SweetFreeStuff also gives information on coupons and deals. (Worldwide.)

                      #8 Sample A Day

                        Would you like to receive a notification of a new free sample every day? Well, that’s the promise from this site. They claim to thoroughly research all offers, ensuring there are no catches or hidden surveys! From baby products to socks, this site is sure to have something for you. Registration is super-easy. Simply enter your email address. (Australia, Canada, U.K. and U.S. only.)

                        #9 Pretty Thrifty

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                          This site specializes in free beauty products, but also lets you claim free samples such as energy drinks, snack bars, and even magazine subscriptions. Pretty Thrifty has more than 85,000 followers on social media, so clearly knows how to attract free sample hunters. One thing that makes Pretty Thrifty stand out from most of their competitors, is that their email newsletter is available in daily, weekly and monthly formats. (Mostly U.S., with occasional offers for other countries.)

                          #10 CrazyFree

                            My final tip for getting the best free samples by mail, is Australian company CrazyFree. Their funky website offers big brand free sample offers, which currently include items such as Dolce & Gabbana perfume, Coke Zero, and Happy Dog pet food. To claim the offers, select the free samples you would like, and then complete their registration form. (Australia, U.K. and U.S. only.)

                            Receiving regular free samples by mail is a fabulous way of testing out the latest products on the market (and some that aren’t even on the market yet!)

                            You’ll impress your friends and family with all the free stuff you’ll be receiving. And take it from me… it’s a fun, free and rewarding hobby.

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