The digital marketing industry has been extremely hot, popular, and apparently, a high-paying industry that has made many kids and millennials millionaires.
But there is a lot of confusion going around in a lot of minds lately. I’m talking about millions of people with puzzled minds.
Well, you’ve got lucky that you landed on this blog post because, in this post, I’m going to break all the nuts and bolts, the illusions, the misconceptions, and uncover the truth about digital marketing and making money.
I started digital marketing with the same mentality as many others but trust me it’s quite different than what it seems in the first place.
With that all being said, in this post, you are going to learn whether or not digital marketing can make you a millionaire, and more importantly, you will learn how to get there the easy way.
Let’s start with answering the main question and then we’ll dive into some statistics, important discussions, and suggestions:
Can You Become A Millionaire From Digital Marketing?
The answer to this questions is quite complicated but I won’t disappoint you with a typical ‘it depends’ statement:
Yes, marketers can become millionaires with digital marketing. There are many internet entrepreneurs who have made millions of dollars like Neil Patel, Gary Vaynerchuk, and Brian Dean. Experts recommend that beginners should first practice one digital skill thoroughly, start serving, and the finances will start coming on their own.
The answer here is quite positive but be informed that not everybody is going to make tons and tons of money in the industry.
No matter what industry or business world you are in, the success ratio is always going to be very low. Not everyone puts in the effort to become a digital millionaire.
Here are some extremely vital things you will need to become a successful digital marketer:
- At least one out of seven skills in marketing
- An action plan/strategy
- A purpose
- A team to speep up the process
- Management skills
1. One or More Marketing Skill(s)
So, when I say you are going to want to have at least one skill in the digital marketing space, here’s what I mean:
There are a total of seven major skills in digital marketing and they are as follows:
- SEO (Search Engine Optimization)
- Content Marketing
- Pay Per Click Advertising
- SEM (Search Engine Marketing)
- Email Marketing
- Affiliate Marketing
- Social Media Marketing
To become a wealthy digital entrepreneur, you will have to master at least one skill. You will find some different skills like web design, CRO (Conversion Rate Optimization), and many other ones as well but they are all part of the various skills that I just mentioned above.
If someone’s telling you to throw a bunch of links here and there, and you will make millions of dollars, that’s not going to happen at all. You will need high-income skills first and then things will follow along.
2. An Action Plan
You must have read the line that an idiot with a plan can beat an expert without a plan. That’s so true!
To be able to do something big in the marketing sector, you will have to map things out with milestones and steps.
Sure, there’s no perfect plan but you can always divide things, start working on them and keep doing so until you start coming closer to the bigger picture.
3. A Purpose (The Right Intent)
When I got started with digital marketing, my only motive was to make money.
Then I discovered this amazing marketer named Neil Patel. The first thing he advised was that I am not going to become rich because I want to make money, I will become rich if I provide a solution to a problem that people are facing.
This seemed a cliche back in the day but now I understand this very well.
Sure, the solution doesn’t always have to become a new application like Facebook or Instagram. It can be a web design solution, a PPC advertising solution, an email marketing service, a consulting service, or anything else.
When you will provide better services/solutions than the other players in the industry, you will things take off very rapidly.
4. A Team For Scalability
If you see all the millionaires out there regardless of them working in the digital marketing industry or the stock market, one thing that’s very common among them is that they have a team.
A team is extremely important for things to start moving at 10X speed. If you work with a team, you can finish a goal/project in 1/10th of the time it takes you as a person.
5. Management Of Things
The last (but not least) skill/thing you will have to consider to make your internet-entrepreneurial life easier is the management of things.
When I say management, I mean everything that can be managed such as:
- Money
- Clients
- Transactions
- Time
- Mindset
- etc.
Digital marketing has always been famous because of its passive nature. If you become a bright digital businessman, you should have the money flowing in passively because it’s all about freedom.
Who Have Become Millionaire With Digital Marketing?
I already have mentioned a few names while answering the first question but I would like to mention some of them again (with others as well) and break down their numbers as well.
Primarily, let’s take a look at the list of names:
- Neil Patel
- Brian Dean
- Pat Flynn
- Jim Harmer
Neil Patel (Net Worth: $35 Million+): Neil is a very successful digital marketer who has made millions of dollars off of marketing. He currently has a portfolio of blogs that drive millions of visitors every single month and runs an ad agency called Neil Patel Digital.
Brian Dean (Net Worth: $25 Million+): Brian Dean is an SEO expert and a digital course creator who drives millions of visitors to his creative blogs every year and generates a ton of money.
Pat Flynn (Net Worth: $5-10 Million): Pat Flynn is a very successful affiliate marketer, email marketer, entrepreneur, and blogger who has been recognized as a top digital marketer by some of the biggest publications in the world.
Jim Harmer (Net Worth: $5-10 Million+): Jim Harmer was co-founder of Income School. He currently has a portfolio of websites that drive a lot of traffic and make hundreds of thousands of dollars every single month.
There are a lot of other individuals who have done really well in the industry. Just so I can’t mention all of them here in one article.
Why Is Digital Marketing A Great Industry To Become A Millionaire?
The digital marketing industry is a very good industry to work in for building a large capital because it has incredible growth potential and history.
Don’t worry, I won’t just write this sentence and move ahead. I’ve got the graphs as well as the numbers to show you.
Here’s a screenshot from Google Trends showing you the growth of the industry:
As you can see, it has been growing really fast over the past couple of years and will continue to reach the top because everything is shifting online.
If I tell you the numbers, the digital marketing industry will grow by $128.83 billion by the year 2025.
Also, digital advertising marketing spending is going to reach $645.8 billion by the year 2024.
If even this is not convincing you to become a part of the industry, I’m not sure what will.
How To Set Realistic Expectations As A Digital Marketer
All the numbers, graphs, and suggestions provided here will inspire a lot of people to work in the industry but as a marketer myself, I want to tell you something – it’s going to take a lot of hard work, patience, some money, ups and downs, and consistent efforts.
Even after mastering a skill, people/clients aren’t going to pay you hundreds of thousands of dollars immediately. You will have to work on everything from skills to acquiring clients.
Slowly and steadily, your expertise, client base, income, and way of working will improve. You will have to keep in mind that it’s going to be a process and not some get-rich overnight thing.
Just remember the following quote:
“Most people overestimate what they can do in six months and underestimate what they can accomplish in five years.”
In Conclusion
Now that you have read the post, you know that there are unlimited opportunities in this industry/sector and it’s not too late to start working.
Actually, it’s never too late to start putting in efforts in any sector/business/project. You will have to wait a while before things will start going in the right direction and before you will consider yourself a digital millionaire.
I hope this post was helpful and insightful. In case you have anything to ask, please use the comments section present down below.
