Tuesday, May 15, 2012

Sticking to surveys and diminishing returns

I’ve been sticking to doing online surveys for money on Amazon Mechanical Turk recently.  After working a lot on MTurk in the run up to Xmas to get some extra money for the festive season, I’ve just been working fairly intermittently in the last few months for a bit of extra pocket money to spend on small Amazon products, such as computer accessories.

Diminishing returns

I think that generally speaking, it is best to see MTurk earnings as pocket money, rather than trying to earn it as any sort of wage.  It might be different if you are in a developing country, but here in the US, the money that you can earn (with the occasional exception) is generally just too small to make a great deal of difference.  This wasn’t necessarily true in the past, but I think it’s fair to say that MTurk payments have overall been driven down over time.

Online surveys

Surveys are a good example of this phenomenon.  When I started doing the online surveys for money on MTurk over a year and a half ago, it was common to see 15 or 20 minutes surveys that paid, $1.50, $2, $2.50, or more.  Now the equivalent survey generally pays at most a sum more like 50c,75c, or, if you’re lucky, a dollar.  (My stats are anecdotal, but I’m pretty sure that the lower earnings aren’t just my imagination!)

Globalization

The worst falls in earnings come with the general, more mechanical tasks, however, that are open to anyone in the world to do.  These tasks pay less than 10% of what they did a couple of years ago in some cases.  Don’t get me wrong, I certainly don’t begrudge fellow turkers from the Indian Subcontinent earning an honest buck, but MTurk is definitely an example of how globalization can sometimes have a negative effect on workers’ wages.

Monday, February 27, 2012

Best 3 ways to make money writing online

As experienced turkers know, the size of payments for writing tasks on Amazon MTurk vary considerably.  I have done well with certain writing tasks in the past, but recently I’ve struggled to find ones that are worth the effort.  I am not sure whether payments are gradually decreasing in value, or whether I am just getting more fussy.  Anyway, there is never any harm in exploring alternatives.

My 3 favorite make money writing sites are HubPages, Wizzley and Squidoo.  I will give you a general advantages and disadvantages of writing on these sites, compared to writing on MTurk, and then give you a brief overview of each site.

Advantages of online writing and earning platforms

Potential earnings are generally bigger on writing platforms than on a site like MTurk, at least in the long term.

The income from these sites is “passive”, which means that in theory at least, you keep earning even when you aren’t working and can get paid multiple times for the same piece of writing.

Online communities can keep you up to date with online earning opportunities and help you to develop the necessary skills.

Disadvantages of online writing and earning platforms

It can take months before you begin to earn even relatively small amounts, and a year or more before you see a decent return for your efforts - even then, the earnings certainly aren’t guaranteed.

You need to be fluent with English and have some skill at writing - especially with writing one page articles.

“Passive” income makes it sound like you don’t need to do much, but the real truth is that these sort of sites require a level of continual commitment if you want to succeed.

You will often need to set up accounts with external advertising/affiliate sites in order to earn money (for example Google Adsense and Amazon).  Although free, it can take time and effort and sometimes it isn’t straightforward, especially for people in Asian countries, where the rules are sometimes stricter.

HubPages

Hubpages is the one of the biggest writing platforms.  Users write one page articles called “hubs” and earn through HubPages own advertising scheme, plus Google Adsense, Amazon, eBay etc.  All the advertisers and affiliates are optional apart from Google Adsense which you have to be a member of, if you want to earn money.  HubPages articles generally rank well in Google, but Hubpages take a 40% share of your earnings.


Visit the HubPages website (using my referral link)

Squidoo

Squidoo is HubPages’ main rival.  It’s set up slightly differently and has its own unique appearance, but the underlying principle is very similar.  One advantage of Squidoo is that you don’t have to set up your own Adsense or affiliate account.  Squidoo pool all the money that’s made, take a 50% cut, then share the rest out to the writers according to how highly their articles (known as “lenses” within Squidoo) are ranked.


Visit the Squidoo website (using my referral link)


Wizzley

Wizzley is the new kid on the block.  Set up by experienced Squidooers, it is similar to HubPages and Squidoo, in that you write one page articles and earn from the adverts and affiliate advertising.  They take between a 50 and 60 percent cut of your earnings, depending on how many articles you’ve posted there.  Each article posted is checked by a real person (as a pose to a bot) to make sure that it comes up to the required quality standard.  The jury is out on Wizzley as far as earnings go, but I am enjoying my time there, so far.


Visit the Wizzley website (using my referral link)


UPDATE (February 2014)

I would no longer recommend Wizzley as a good earner.  Income from Hubpages and Squidoo is lower than it used to be, but still worth it. 

If you just want a quick and easy place to earn, I would recommend: Bubblews.  

Wednesday, January 11, 2012

Disappointed by MyLot

For those of you who have followed my writing, you will know that I have recommended MyLot as a way of making money online in the past.  I must confess though, that despite my initial enthusiasm, I have become rather disappointed with it.

I am speaking in terms of the money making mainly (although the full page adverts can be a bit annoying too).  My earnings on there have been very low.  Even when I spent quite a bit of time on MyLot, I only seemed to bring in a few cents.  I could earn more in ten or fifteen minutes on Amazon MTurk than I could earn in several days on MyLot.

Maybe I am being unfair.  You only make money with MyLot if you are active with it and as I no longer spend much time on it, I make very little money.  People who enjoy the chatter and social networking side of MyLot rate it higher than I do and have commented so to me.  Although I do enjoy social networking, I tend to do all mine on non-earning sites like Facebook.

If you have photos that are of general interest (not just snaps of friends and family), however, then I would say that you would do much better uploading them to Redgage, rather than MyLot.  As well as earning money from the initial upload, you can also earn extra if people stumble across your photos on Google Images etc.  Although you won’t earn a fortune in Redgage either, you do seem to earn more than on MyLot.  I have earned 50-something dollars from Redgage for the photos I’ve uploaded, which is about ten times as much as I’ve earned from MyLot (although most of that money came from discretionary prizes that were awarded to me by Redgage, rather than through direct earnings, I’ll admit).