How to Make Money Online: The Ultimate Guide

In just a few years, the online world has changed. From social media to e-commerce, online marketing to content creation, the ability to make money online is no longer a luxury; it’s a necessity.

While traditional ways of making money still exist (i.e. jobs), they no longer fulfill the same purpose. With the rise of the sharing economy and the evolution of online marketing, moneymaking opportunities exist, and they continue to grow.

The Sharing Economy

The sharing economy is a business model where consumers (also known as sharing users) share or borrow assets in order to make money. Popular examples include Airbnb, where travellers can stay in houses and apartments owned by people who are traveling or touring, and TaskRabbit, where people can post tasks such as cleaning, cooking, or walking dogs and can be compensated based on the value they bring.

Airbnb’s revenues for the second quarter of 2018 were 77% higher than in the same period in 2017, demonstrating the company’s growth. Airbnb’s SVP of business, Christopher Macke, said at the time of the company’s most recent earnings call that “growth continues to exceed our expectations.”

One of the primary ways in which the sharing economy has changed the way we make money as consumers is through online marketplaces. Many of the companies making a living from the sharing economy have created online marketplaces where people can find what they need, and sometimes what is needed can be an expensive one. For example, if you need a haircut, but you don’t have the time or money to go to the barbershop, an online marketplace like HairBoutique offers a solution – get a haircut online for the same price as going to the barber shop.

E-commerce

E-commerce, or electronic commerce, is the trading of goods and services via the internet and other digital networks. Online marketplaces provide an e-commerce function, allowing consumers to find and purchase goods from businesses online.

The most popular online marketplace for buying and selling vintage and antique jewelry is Vogue Vivant, a platform specifically designed for trade-in jewelry – you put in your gold or diamond earrings, necklaces, and bracelets, and get back your choice of diamond or gold jewelry of the same value.

eBay, the world’s largest online marketplace, reported US$16.9 billion in yearly revenue in 2017.

The ability to generate sales online has made it possible for small businesses to compete with larger corporations, providing them with the tools to successfully operate in a digital world. In fact, according to a study from the Small Business Trends Analysts, almost half of all American businesses operate entirely online today.

Content Creation

Content Creation is the process of creating content (such as web pages, videos, or eBooks) that are designed to attract potential customers, encourage social interaction, or impart knowledge.

Some of the world’s most successful brands are built on the basis of creating attractive content that is either free or low-cost. Examples include Google and Facebook, which are arguably the most popular search engine and social network platforms today, respectively. According to HubSpot’s Vice President of Marketing, Dharmesh Sheth, brands must shift from creating static websites to engaging with their audience through highly-optimized content.

In February 2018, Google announced that it would be making its Search results more personal, beginning with a Search results page that would only show content that is most relevant to the individual user. The change, which was rolled out to small businesses globally in March 2018, aims to provide users with more relevant content when they do a search and to cut out the clutter of irrelevant results.

One of the best places to find relevant content on the internet is YouTube. According to a recent report from the Content Marketing Institute, 79% of consumers have watched videos to learn about brands or products, and 75% have watched to find tips or tricks.

Online Marketing

Online Marketing is the process of getting your product or service in front of internet users whose interest is likely to lead them to make a purchase or engage with your product or service.

The shift towards online marketing began in the 2000s when traditional methods of marketing (such as billboards and print magazines) began to be supplemented by online marketing tools. Thanks to platforms like Google, which owns Oberlo, an agency that helps businesses grow using online marketing, it is now possible to target and engage with a huge audience online.

Oberlo’s Chief Marketing Officer, Elle MacLeman said that although many consumers still prefer to learn about products through advertising on social media, “in the future, marketing is going to be much more targeted, and you’re going to see a much bigger focus on SEO [Search Engine Optimization] and PPC [Pay-Per-Click Advertising].”

Search Engine Optimization, or SEO, is the process of getting your website to show up when users search for keywords or phrases on search engines like Google or Bing.

If you’re worried that your website isn’t performing well, or if you’d like to find out how to make your website more searchable, get in touch with an agency like Oberlo. They can help you get started with SEO for your website.

PPC, or pay-per-click advertising, is when a business pays a publisher each time someone clicks on a sponsored ad on their behalf. PPC is a popular choice for small businesses because it is cost-effective for large advertisers, and it allows business to test different keywords and ad placements without committing hundreds or thousands of dollars to traditional, long-term search engine optimization.

The Evolution Of Moneymaking

While the methods for making money online haven’t changed much over the past few years, the platforms have evolved.

In early 2018, Google launched its Chromebase, a dedicated browser for ads, which means that they are placing ads inside the browser itself, replacing the traditional advertisements that appear on external websites. The ads inside Chromebase are called Instream Ads, and they work similarly to the ads on a traditional web page. When a user visits a website with Instream Ads, they see a pop-up window that contains a list of offers, and when they click on one of the offers, they are taken to a landing page where they can learn more about that product or service.

Many traditional moneymaking industries, such as real estate and travel, have shifted online. Thanks to platforms like Airbnb and TaskRabbit, it is now possible to make money online without needing a traditional 9-5 job. However, other traditional moneymaking industries, such as blogging and infographics, have remained popular because they provide a relatively easy way to make money online for those who are willing to invest the time required to build a sizable audience.

The most successful internet marketers create videos that teach others how to make money online, become a digital nomad, or launch a side-hustle around whatever product or niche they promote.