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Sunday, 19 June 2011

My Strategy For Webansers

As I previously stated in my first post my aim is to generate enough money to pay my monthly mortgage payments passively. I have mode inroads into generating passive income however I am a long way away to achieving my passive income goals. My goal is to eventually generate £420 per month which is about $700 per month so that I can make the monthly mortgage payments which would be a fantastic achievement. If I was successful then this would really inspire me to pay off my mortgage completely. Having a freehold ownership of my own property would be a dream come true.

What Is Webanswers?
If you have heard of Yahoo Answers then Webanswers is very similar. People ask questions and you answer them. If your answer is good enough then you get awarded the best answer and receive ongoing royalties from the post. If the answer does not receive an award then all the contributors to the question get a cut of the adsense revenue depending on the quality of your answer. Webanswers has something called Quality Score which is generated every time you answer a question. If you research your answer and write a quality response with no grammatical errors then you have a higher quality score. The higher the quality score the larger your share of the adsense revenue will be.

My Results

I am a real fan of Webanswers and have been there for about a month now. I post between 10 and 20 answers everyday and have accumulated over 300 answers there. Here is my profile if you are interested in checking out how I structure my answers Knighttrader. I am very happy with my progress to date. In the last 30 days I have the following statistics.

Views              7661
Revenue (£)   £26.56
Revenue ($)   $44.26

There are days where I generate £1 and other days I generate about £2. I really believe I can push myself and achieve a £100 eventually and this is my goal for this Webanswers.

My Strategy
At the moment my strategy is to answer about 10-20 questions everyday.I want to eventually reach £100 per month or $166 per month. I will emphasise on quality rather than quantity. I have seen people who write one sentence answers and struggle to reach the minimum adsense payout despite having thousands of questions. From all my experience on the internet I have come to one universal conclusion which is The only way to make sustained money on line is to make the internet a better place. I have created a few rules that I use when I am on Webanswers.

1. Only answer questions which I am capable of
2. Never cheat or copy
3. Always add value to the question and leave the reader well informed
4. Always make the internet a better place

If I adhere to these rules I really think I can become successful here. The strategy that I have been using on WA is simple. I find unanswered questions which have a relatively high amount of views preferably over 500 which implies that it has some good Google search engine results which is where all the views are coming from. I then answer it the best I can and add value, its that simple.

So far for the month of June I have the following results

June Webanswers Income so far
£23.19 equivalent to $38.64

If this trend continues then by the end of the month I will have for June £30.94 which is equivalent to $51.54. Not bad!

I really hope I achieve my WA Target and if I do I will be 30% there already and put in even more effort. I always like to finish off my blog posts by providing some sort of wisdom or good advice and the best piece of advice or wisdom that is most appropriate for this post is the following.

The Best Way To Make Money On The Internet Is to Make The Internet A Better Place For Everyone. Always Add Value And Remember Those That Take Short Cuts Never Succeed In The Long Run.


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