If you've Google searched on ways to make money online, chances are you've been bombarded with tonnes of "how to make money online" ads or are constantly receiving recommended videos related to making money online.
You must have also stumbled upon videos by "gurus" telling you that you, too, can succeed at Internet marketing — but the truth is making money online is so hard.
Here are 10 reasons why making money online is so hard:
- 4.66 billion people have access to the Internet.
- Small entrepreneurs have to compete with big brands/companies.
- Not all are capable or have the skills for content marketing.
- Google is always changing its search algorithm.
- You can’t control online reviews.
- Most people give up too quickly.
- People lack online marketing skills and knowledge.
- People don’t explore their options enough.
- Many people don’t learn from others.
- People don’t know how to outsource effectively.
Let's discuss 10 reasons making money online is so hard to help prepare you for the challenge or improve your internet marketing skills.
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Why is Making Money Online So Hard?
Making money online is so hard, especially these days, because almost everyone in this world has access to the Internet.
So opportunities to earn money online are abundant; however, abundant opportunities come with an abundance of hurdles, which is why you should know what to expect before you jump on the bandwagon.
1. 4.66 Billion People Have Access to the Internet
According to Oberlo, 4.66 billion people today have access to the Internet. There are about 7.83 billion people today, so that means more than half of the world population has access to the Internet.
While it might seem like there are more than enough people to market your products to, it's important not to forget that you'll be competing with other Internet users from all around the globe who, just like you, want to make money online.
Back then, very few people had in-depth knowledge of Internet marketing. Many of them had to figure out their strategies themselves. Today, blogs on making money online are abundant, with many giving out free knowledge to those who wish to learn.
That means more people are becoming savvier at online marketing, hence more competition for you. You always need to stay ahead of the game to get to the customers first before everyone else.
And that's not easy when you're competing with millions of others like you.
2. Small Entrepreneurs Have to Compete with Big Brands/Companies
Today, small entrepreneurs find it more challenging to make money online because they have to compete with big brands/companies. Many years ago, very few people knew the art of online marketing — even big brands/companies had very little idea about Internet marketing.
So small online sellers could easily reach customers in a way traditional businesses couldn't.
That all changed when big brands/companies learned the game and took full advantage of the Internet to reach out to current and potential customers. Big companies have bigger budgets to gain more exposure over the Internet and hire exceptional Internet experts to help them bring online sales.
On the bright side, you can study their marketing strategies to help you craft similar effective strategies, even with a small budget.
3. Not All Are Capable or Have the Skills for Content Marketing
Content is king in digital marketing, but not everyone can create content and use it to help them make money online due to a lack of time or skills. The Internet is not a place for passive websites.
If you don't continue to create relevant content, your Google ranking will suffer, and your pool of customers will slowly deplete.
Whether you are selling a product or service, you need content marketing to attract customers, engage with them, and convince them to purchase from you. Unfortunately, many online entrepreneurs struggle with content because they either don't write well or are too busy to write.
The hard truth is it's impossible to be successful online without content marketing.
4. Google is Always Changing it's Search Algorithm
Online marketers need to always keep up with Google algorithm changes to be successful at Internet marketing. SEO (Search Engine Optimization) is what is driving online marketing.
Even if you have an excellent product, it won't get the exposure it deserves if you have poor SEO.
Note that Google changes its search algorithm between 500 and 600 times every year, with most small updates. Big or small, anyone with an online business must keep an eye on the changes.
Some of Google's important updates were:
- Page Layout Algorithm
5. You Can’t Control Online Reviews
No matter how good your product is, you'll always find an unhappy customer who will go the extra mile to tell other people how unhappy they are (and why they should not buy from you) about your product.
It's much easier to voice out our opinions these days, thanks to social media.
Online reviews are important because they can help businesses gain more trust from customers, but they can also tarnish a business's reputation.
Sure, you can easily switch off the comment/review section, but that may only make you look even worse. Customers have the right to share their honest opinions about the products they've bought or tried, after all.
The problem is, there are too many false reviews or bots these days that generate bad reviews — a serious problem in today's online community.
6. Most People Give Up Too Quickly
Most people fail to make money online because they give up too quickly. Many of them don't realize that most people who succeed in online marketing have spent years building their online presence.
Many successful bloggers and YouTubers, for example, had to spend years growing their online presence before finally making money from it.
7. People Lack Online Marketing Skills and Knowledge
Many people think they can be the next Internet millionaire, but 97% failed because they lack online marketing skills and knowledge. People often jump on the bandwagon with a lack of strategies or aren't mentally prepared for the challenge.
It isn't easy to make money online if you don't know anything about SEO, social media, content marketing, or sales.
Thankfully, you can always pick up Internet skills, so even if you have very little knowledge of them, you can still succeed. People who aren't willing to learn or improve their ways will have fewer chances of creating the success they envision.
Trends and customer behaviors are always changing, so entrepreneurs who can't keep up with the changes (and change their ways) will be left behind.
8. People Don’t Explore Their Options Enough
Another reason why most people find making money online so hard is because they don't explore the options they have and tend to stick to only one. Sure, if you only want to make a bit of money (because you're only doing it part-time), then focusing on blogging and affiliate marketing would be just fine.
However, you'll need more than one income stream if you want to turn your efforts into a full-time job that generates a stable income.
There are many ways to make money online, not only through e-commerce business or blogging. There are tonnes of websites that offer freelance job opportunities like Fiverr, Upwork, or Design Crowd to help you make money online.
Unfortunately, many people tend to avoid things they don't know, limiting their chances of exploring new skills to make them money.
9. Many People Don’t Learn From Others
Not learning from others and continuing to take the wrong decisions are recipes to failure in digital marketing. Many people are so attached to their ideas that they fail to realize that their ways are probably not the best and that they should take a different approach.
Out of frustrations, most people quit and never succeeded in making money online.
Many people on the Internet often steal their competitors' ideas (and contents) and use them to make their own. Many of these Internet entrepreneurs can make money online because they study what others are doing.
I'm not saying you should steal people's content or ideas, but you must be able to identify what works and what doesn't.
10. People Don’t Know How to Outsource Effectively
You might have heard someone telling you that they want to do something, but they never do it because they don't know how to do it. When someone decides that they don't know how to do something and do nothing about it, there's nothing left you can do to help them.
Many people who have an online business started with limited knowledge, like creating a website, using Facebook Ads, etc., but they adapted and never stopped learning.
However, if they're bad at certain things (like writing blog articles or SEO), they outsource the jobs to others. That way, they can better use their time and focus on the things they're better at, like selling their products or engaging with customers.
Making money online is so hard if one refuses to explore other ways to help them overcome the things that are slowing them down.
Now that you know what is stopping you from being able to make money online, you have the blueprint to become successful, it just takes a little time and persistence.
When I first started online, I like to use this analogy of "failing fast." This means that the faster you fail at something, the least amount of time and money that you will waste and the quicker you will find something that works for you.
So, never give up. After all, making money online isn't that hard, now is it?
Launch Your Blog Biz
Are you currently struggling to make money from blogging? 6-figure bloggers Alex Nerney and Lauren McManus teach blogging newbies how to launch and monetize a $1,000+/month blog with the course Launch Your Blog Biz.