10 Best ways to earn money online
Our lives after 2020, where "getting things done
without going out" has become widespread. It's no surprise now that there
is a growing interest in making money online while at home .
What once felt like a distant dream is now a reality for millions
of people. People who have worked from home for the past few years have become
more common to make money online, so they no longer have to bother to explain
their work style to others.
The appeal of the web is that sales channels, marketing
networks, community hubs, etc. are all in one place. Besides taking surveys and
selling second-hand goods online at flea markets, there are many ways to make
creative money online.
Compared to other businesses, some businesses and side
businesses may be better off online. In this guide, we'll show you some of the
best ways to make money online and explain their strengths and weaknesses.
How to Make Money Online: 10 Best Ways
Here's how we recommend:
- Drop shipping
- Print on demand
- Custom products
- Sell Goods on Etsy
- Sell products on Amazon
- Digital products
- Media
- Blog post
- Affiliate marketing
- Online courses & workshops
1. Drop shipping
Therefore, I would like to introduce a business model called
" drop shipping " that does not hold product inventory . When a
customer buys something from your shop, a third party will fulfill and ship the
order for you. Due to its low start-up costs, it is becoming more popular as a
means of making money online, from beginners to professionals.
Many dropshippers (dropshipping companies) tend to pursue
the latest trends. It's okay to be sensitive to trending products, but keep in
mind that there are more stable product categories that can give you similar
chances of success. The following industries are regularly found in Shopify's
list of successful shops:
Women's Apparel & Accessories: Oberlo 's most popular
product category. This category deals with various niche products such as
dresses, accessories, lingerie, hoodies, socks, tights, and rompers. Due to the
large market size and relatively high purchase frequency, we have a lineup of
products that can achieve sales with good marketing. Therefore, it is a
category that always ranks high in drop shipping.
Jewelery: For those who want to start a profitable business
with jewelry, drop shipping is a business model worth trying. It can be sold in
various categories such as luxury jewelery, fashion jewelery, costume jewelery
and collector's jewelery. Alternatively, you may sell jewelry made from
different materials such as gemstones, wood, textiles and metal.
Home & Gardening: One of the always trending drop
shipping niche categories . People are always looking for ways to add
personality to their homes, creating a warm and comfortable space. As a result,
home and gardening is gaining attention as a fun and profitable niche category.
Beauty products: The beauty and personal care market is
projected to grow to $ 511.4 billion by the end of 2021 . It is an industry
that is growing with the support of the younger generation entering the market
and is making great strides through social media and e -commerce . With plenty
of niche options, you can sell cosmetics, skin care, personal care, hair care,
fragrances and more.
It sounds like a great business model, but drop shipping has big barriers to overcome. It is the fact that we are selling existing products. Being able to easily start a drop means fierce competition. Therefore, in drop shipping, customer support can make a big difference in the results . So to give up and succeed on a key part of leverage, you need to use carefully selected niches and creative marketing to overcome the competition.
2. Print on demand
The biggest advantage of print-on-demand over drop shipping
is that you have control over your product design. This is an important
differentiator for design-critical product-based businesses such as T - shirts and original fan goods .
Using print-on-demand services to make money online, you
can:
Try online business proposals and new product lines without
taking inventory risk
Monetize your existing audience built on YouTube, social
media, or personal blogs
Offering a wide variety of products such as T-shirts, books,
shoes, bags, mugs, cellphone cases, laptop skin stickers, wall art, etc.
Treat original goods with photos and sell them online for
fans
Print on demand that allows you to quickly create customized products. You don't have to worry about shipping or fulfillment because the supplier handles most of the work for you. In addition, since you do not have inventory, it can be said that making money online is a low-risk and low-investment method.
3. Custom goods
Many consumer brands offer original products with positive
improvements and interesting details to the item. I personally bought a lot of
messenger bags, but I've never seen anything like Vermilyea Pelle 's.
In the jewelry, fashion and home decor categories, many
brands make it by hand for thorough product development and quality control.
Suffice it to say, the drawbacks of handmade products are (1) it takes time and
(2) it is difficult to expand the business. The cost of hand-crafting a product
is the material cost, the storage cost of the finished product, and the labor
cost.
However, not all custom products have to be handmade. There
are many ways to find suppliers and manufacturers that bring your products to
life . for example:
Use domestic or overseas manufacturers: If you have a unique
product that you do not plan to handmade , you can find one. It is generally
recommended to go through Alibaba 's drop shipping . Use the marketplace to
find potential manufacturers, share their brand vision, and get them to
manufacture their products. There are some initial costs such as minimum order
quantity and storage fee when asking the manufacturer, but it is an excellent
way to keep the unit price down while managing the product.
Resale Wholesale Products: Buying and reselling wholesale
products is a simple, low-risk way to make money online. Buy the product you
want to sell directly from a manufacturer trusted in the market at a discounted
price and sell it at a higher price in the online store.
To make and sell custom products, it is important to understand these methods and make the right choices. Each has its own strengths and weaknesses, so please see " What is a business model? Thorough explanation of types, success stories, and frequently asked questions " for details.
4. Sell products on Etsy
These marketplaces work in tandem with their website.
Therefore, it will be the best place to start a business . If you're a new
online maker, you can use Etsy , which has 45.7 million buyers, to increase
your brand awareness even when you're just launching it. I've seen a lot of
companies switch to Shopify after making some initial sales on Etsy.
The benefits of launching your own Shopify store are:
You can control the look and feel of your shop: Etsy's shops
only have a stereotyped design, and you can't create a creative storefront.
Product lines available: Etsy is limited to selling
handmade, vintage, or craftsmanship products. If you want to complement them
with products from manufacturers that create a better customer experience and
increase your average order value, it's hard to do with Etsy. Once you've
launched the Shopify store, you'll be able to add new products, whether drop
shipping, manufacturer-made products, or wholesale products, while providing
better service to your customers.
Easier inventory management: EC platforms like Shopify
provide in-depth inventory management and analytics. This allows you to keep
your records organized and make smarter decisions for your business.
Even if you have a shop on Etsy and don't plan to leave, you can run two shops at the same time. Once you've launched your Shopify store, you can use free Shopify apps like Etsy Integration: Sync and Sell . It's easy to sync inventory and manage orders, so make money with both Shopify and Etsy online platforms.
5. Sell products on Amazon
Amazon has become a marketplace for new e-commerce
entrepreneurs. Signing up for an account takes just a few minutes, so you can
start listing your products right away.
Amazon, a platform with a huge audience, is a global
marketplace. It is also a site that people always visit when looking for or
looking up products. Also, thanks to "optimization of product
listing", it is easy to find products, which opens up new opportunities
for shops . In addition, Amazon's in-app advertising enhances brand visibility
for your target audience.
However, some e-commerce entrepreneurs question Amazon's
long-term sales. It's a great place to find what shoppers want, but it can be
difficult to raise brand awareness. It's also true that Amazon has a large
number of resellers dealing with similar products. Even if you try to
differentiate your brand by adding commissions, you will have to spend a lot of
effort to increase sales, and you may not be able to increase your profits
easily.
Selling on Amazon is a great way to make money from home,
but keep in mind the following caveats:
Amazon sets the rules for the marketplace: It's no secret
that Amazon is an industry leader when it comes to using collected customer
data to create a better shopping experience. However, such customer information
is not shared with sellers. If you try to compete face-to-face with the
products that Amazon handles, you won't win. Because Amazon as a retailer has the
most advantage in Buy Box .
Amazon recommends sellers use "Fulfillment by Amazon
" : FBA offered to sellers as Amazon's fulfillment program. Once the
product is delivered to Amazon's fulfillment center, Amazon will process the
fulfillment of the customer's order. You must use FBA to be eligible for Amazon
Prime and Amazon Super Saver Shipping, which can improve your conversion rate
and make more money.
Amazon is responsible for customer relationships: Brands
cannot add Amazon customers to their CRM or remarket them after sale.
That said, Amazon is a great sales channel that you can add to your Shopify store as well. Like Etsy, you can have your audience see and discover products on Amazon, while using your e-commerce site as your primary sales channel. By integrating Shopify with Amazon, you can manage your listings and sync your inventory faster and easier.
6. Digital products
Digital products are basically intangible assets that can be
sold repeatedly without restocking. It is often provided as a PDF, a plug-in,
or a downloadable file in an interactive document format. Celebrities such as
popular professional influencers and bloggers will release guidebooks, ebooks,
templates, survey results, plans, tutorials and other digital products to be a
great source of passive income. It came to be.
The advantages of selling digital products include:
Business development possible: The number of products that
can be sold is unlimited and there is no stock. There is no need for
manufacturers to trade, no shipping or logistics. All you need to do is market
your product. Digital products that are delivered immediately after purchase do
not require store support.
Low overhead costs, high profit margin: Since there are no
ordinary costs or shipping charges for products, it is possible to keep most of
the profits generated from each sales.
Increasing popularity of e-learning: The e - learning
industry is expected to reach $ 325 billion by 2025 . To take advantage of this
trend and grow your business, it would be wise to sell digital products.
A digital product that is perfect for supplementing your
major income. That's why many creators are creating digital products to create
another source of income. There are various forms such as consulting,
education, and membership. You can also build your presence on Twitter and
LinkedIn, or build a list of email subscribers to promote and sell your
products.
The barriers to selling digital products are so low that you don't need to take much upfront or risk. The best selling plan is to sell 10,000 templates first . Even in the worst of situations where no one buys, you lose only a few hours to create your digital product.
7. Media
The media feels like digital products, the difference is
that the media is aimed at more creative businesses. For example, it's aimed at
writers who are about to start a paid newsletter subscription, or artists who
are learning how to sell art online .
The biggest advantage of the media is that people can
express themselves online. Artists and creators who used to have poor networks
and had no access to galleries and public relations companies can now build
their own brands , increase followers, and make money online while doing what
they love. I did.
Harry Hambley, a cartoonist who is the driving force behind
the successful brand Ketnipz, encourages creators to pursue their dreams as an
artist. In an interview with the BBC, Harry talked about his own experience of
" quitting college to draw cartoons online ." “You should try anything
that inspires you,” he says.
When it comes to media production for the general public,
Harry says, "Complicated things don't always lead to success. It's
important to have a solid idea and communicate it in an easy-to-understand
manner." ..
In the online world where negative things are rampant, Ketnipz is a brand that illuminates the surroundings with positive light. That is what embodies Harry's goal of "giving a good aura and making you feel at ease."
8. Blog post
Blogs for making money online have evolved beyond the
boundaries of large corporations and side businesses. By posting great content,
everyone can now build an audience and make a lot of money from their blogs.
Bloggers also resonate with their audience by taking a personal approach.
That's what makes it different from corporate blogs.
There are several reasons to start a blog:
Share your thoughts, passions, life experiences, etc.
Teach readers expertise
Sell goods and services
Build a personal brand
The secret to a successful blog is to choose your niche. And
there is no shortage of niches on the web. You also need to be an expert on topics
related to a particular location (eg, "Toronto Restaurants") or in a
particular category (vegan ketogenic diet recipes, lifestyle, etc.). Focusing
on one niche helps you reach out to your audience and create high-quality
content. Doing so may lead to monetization of the blog business.
So how can you make money from your blog? To do this, first
read " [ Beginners] Explaining how to start a blog " and you will see
that there are various ways to monetize:
Selling physical items such as pillows and T-shirts that
blog readers can buy and enjoy
Providing digital products that can be produced once and
sold repeatedly (design, digital art, courses, templates, photographs, etc.)
Providing freelance services such as consulting, writing,
accounting, and hobbies to make money
Become an influencer and send out paid brand promotions
Sell platform-only subscriptions and memberships such as
Patreon
Although blogging is a low-budget project , it can take some time to achieve results. You probably won't be ranked high in Google's search results overnight. But with the right niche and determination, your desire to make money online through blogging should come true.
9. Affiliate marketing
Business models that are completed online are still often
misunderstood, but affiliate marketing is one of them. But this is not a
deception.
So how is affiliate marketing monetized? As a general rule,
publishers and individuals can apply for affiliate programs. As long as there
is space, you can participate in any program as an "official
affiliate". Once your application is approved, you will receive a
shareable affiliate link for your product or service for promotional purposes.
Don't forget to add a disclaimer when you link.
If the item is purchased after you click on the link you
shared, you will be charged a commission and credit as a referral fee. The
amount of the fee depends on the affiliate program and the product to be
promoted. Fees for everyday items on Amazon are not large, but you can get
hundreds or even thousands of dollars when you introduce a high-priced item.
Affiliate marketing works best when a site visitor sees your
post and thinks it's exactly what you're looking for. As a result, you will
often see affiliate marketing deployed on content-centric websites. Search
engines also play an important role here. There, everyone, from small homemade
sites to large, world-renowned sites, is competing for certain search terms.
“Defining a niche and achieving success” also applies here.
There aren't many writers on a typical site, so you can't beat a big
professional media like Wirecutter. However, you may be able to differentiate
yourself by dealing with certain things. So it's easier to pick a clear niche
and expand into new territories, especially if you're just getting started,
rather than competing with popular sites.
Good affiliate content helps readers solve problems and make decisions, while at the same time introducing the right products as part of their solutions.
10. Online Courses & Workshops
There is a reason why online courses have a wide range of
appeal. Once the course is complete, you will receive all the benefits of
digital products. Except for host services, the cost of delivering products to
many customers is basically zero. As your business grows, you rarely need to
deal with product-related issues. The difference is even more pronounced when
compared to the “necessity of inventory maintenance” that product-based
companies have to deal with.
There's also plenty of demand for digital courses and ongoing
education, so it's no wonder sites like Udemy and Skillshare are doing well. In
the meantime, the biggest barrier here is the web itself, where content on
every topic is improving day by day and a number of great resources are
available for free.
However, the seemingly unlimited options on the web make
paid courses valuable. That's because those choices filter out the extras and
share only the good ones. Many creators have succeeded by turning their
previously free videos and blog posts into paid courses. Information is not the
only reason people pay for it. How well the information is organized and how
well it is expressed is also a very important factor. People find value in
saving time on multiple YouTube videos and websites and instead taking cohesive
courses from attractive instructors.
Also, keep in mind here that "there are countless
content topics, but far less people are willing to pay for it." Popular
courses, which are usually bestsellers , teach you what will lead to
achievements in the workplace and what will help you to deepen your knowledge
of your favorite hobbies. So it's no wonder that Microsoft Excel online courses
are bestsellers.
The best way is often to target a market where people are willing to spend their money. Also, it is the workers who spend the most money on the course. Therefore, if you can create a course that packages the knowledge you have cultivated in the workplace, you will get the biggest selling point that it will be useful for salary increases and promotions. Therefore, why not provide advice on improving skills that will lead to their income sources.