From online gambling to selling ‘Miracle’ pills, there are lots of popular get-rich-quick, lucrative thoughts that in every case spring up. Do they really work? Not exactly.
The truth is that there are numerous ways of making money online – millions of people are doing it day by day – right from work-from-home freelancers up to savvy marketers or even rising entrepreneurs – there are lots of business thoughts one can consider so as to make money online particularly now in 2020.
So, let’s focus on some of the major and popular ones in particular.
Throughout the years, affiliate marketing’s popularity has gone up and down but it continues to prove to be a stable way to make money online. It is a process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others and make a profit for each sale that you make.
You can practically promote any products which you think is profitable – from e-products (such as e-book, information product, software, services, etc.) to physical products (such as e-commerce products, etc.)
What are the best ways to make money online using affiliate marketing strategies?
The most common and reliable method will be to focus on content marketing by creating a marketing funnel with enticing headlines in order to ‘hook’ people into reading the informative and persuasive product content, and ultimately buying the product.
In the event of an affiliate program shutdown, you can always switch to alternative products without negatively impacting your business. However, the down side will be to always stay alert and keep updated from time to time the shelf life of the affiliate products.
Blogging is by far one of the oldest methods for making money online. People who love writing tend to start blogs with a niche focus. However, blogging can be very broad so that it covers a lot of grounds, such as if you expand into e-commerce, education & training related categories, etc.
Blogs can come in several forms, whether in article form (the most common), news blog or even video blogs.
When you start a blog, there are many ways you can monetize your business.
Drop-shipping – being a business model where you sell a product to a customer, but the supplier stores, packages, and ships the product to your customers on your behalf - is growing popularities among e-commerce online stores thus highlighting its viability as a way to make money online.
There has been numerous success stories on online store owners making six-figure-income just by selling only one product, and young entrepreneurs making more than $10,000 in less than 4 weeks, etc.
However, the high and inconsistent shipping cost (particularly during current Covid-19 pandemic era) poses some challenges to the e-commerce business to some extent as well.
What are the best ways to make money online via e-commerce platform?
The most popular ways are through Facebook Ads/Marketing, other Social Media Marketing platforms like Youtube, Pinterest, etc.
Print-On-Demand has been picking up pace to be another popular option especially for graphic designers as more are turning to the business model to sell their designs on clothing and other related products in order to better monetize their art works.
Besides having the same advantage as drop-shipping for not needing to carry inventory or ship out products to customers yourself, print-on-demand carries certain advantages over general drop-shipping, ie. you can add branded labels on the packages via its unique designs, therefore can further create a better, consistent and established brand for their business.
What are the best ways to make money online via print-on-demand?
The best bet would be to promote products through free marketing channels, such as Instagram, Pinterest and Youtube.
Sharing or providing knowledge is another method of making money online by way of providing online courses. You can monetize your expertise and knowledge on any specific subject by either creating online courses in your own website, or selling your online courses on popular third party portal, such as Udemy.
In order to create a successful and profitable online course, the best bet will be to learn from existing online courses of similar niches by going through the reviews and comments. By focusing on what people generally expect and avoid what people generally hate will definitely help you creating a better and much effective online course in order to solve people’s problems in the specific niches.
If you are running online courses from your own website, what are the best way to promote your business online?
The most direct and effective way is to run ads to promote your course for the first time via social media platform, such as Facebook Ads, Instagram.
The secondary method will be to build an email list by collecting leads so that you can continue to promote future courses to the same groups of audiences.
Building a personal brand name can help you making money online. People like celebrities, singers, pop stars, athletes are good examples of big time influencers.
However, it is possible to still start off as small-scale influencer by starting to build a massive following right away. The most common and easiest platform for you to do this will be Twitter, Youtube and Instagram where most of the non-celebrity influencers gained their exposure from.
There are so many ways you can make money as an online influencer, such as,
