How Can I Use Web 2.0 To Make Money?

These days, it seems like with every new application that is introduced, there is a way for the internet-savvy community to make money from it. Well, Web 2.0 is no exception. In fact, experts say that the greatest money making schemes on the web are in web 2.0. Since its inception in 2004, venture capitalists have been putting billions of dollars into Web 2.0, and you can cash in! Learn how.

Blogging: But first, a few words on Page Rank…

One great way to make money on web 2.0 is to create a great blog and then use it for advertisements. In many cases, Google page rank (PR) is king to making money using web 2.0, and when it comes to advertising, the page rank on your blog is very important. The Page Rank is a number from 0 to 10 that basically ranks the content and connectivity of your blog. Page Rank is a service of Google.

When you make the decision to make money with your blog, the first and foremost thing you need to do is work to improve your page rank. Otherwise, your attempts to make money quickly may be futile. In order to get a higher page rank, you need to link to other, significant (read: high traffic) websites, and request that they link back to you. And of course, they will only want to link back to you if it suits their own interests, so you need to make sure that the content on your blog is useful and that you consistently update it. The best websites aren’t interested in linking to random blogs that are not much more than a rant or a diary. But if you can speak intelligently about a topic, create a blog about it and go for it! But here’s a hint with choosing a topic for your blog: go with something that will attract a broad audience and has a defined objective.

You need to get a large fan base with a broad demographical scope. Once you do, advertisers will want to market their products on your blog because they know that everyone will be seeing it. Alternatively, you can write about a more esoteric topic, then target advertisers related to that topic. This is a more risky way to make money, but it can still work. If you have the time and you’re relatively proficient at typing, I would suggest that you try both!

A little more on Page Rank is important here. Like your ebay rating or a companies Amazon ranking, your PR is extremely important to your credibility in the blogosphere. Specifically, if you don’t have a high PR, readers may never even see your site, much less stop to read it. You need to realize that there are millions of blogs out there; lots of people have more than one blog these days and, as the blogosphere gets bigger and bigger, it may become more and more difficult to gain exposure for your site. That’s why it’s important to start working on your page rank, by racking up the “meaningful” or high traffic links as soon as you can. And continue to do this throughout the lifetime of your blog, because if other sites to which you are linked go dead, it will be reflected as a lower page rank for you.

Ultimately, by integrating you own blog into the enormous network that is the world wide web, you can increase your page rank and therefore the leverage of your blog. To put it simply, higher page rank blogs will make you more money, because advertisers want their ads to be on blogs that get noticed.