If you’re looking for ways to make extra cash, you’ve probably considered trying your hand at online businesses. Few industries are as lucrative as online marketing, especially since the digital landscape is continuing to evolve.
The way consumers interact with brands and products has shifted to mobile devices and the internet. According to Accenture, 92% of consumers in 2019 will spend more time shopping online than in a physical retail store.
Thanks to the many benefits of the internet (fantastic search engine optimization, accessibility, and the like), many businesses can now operate online. However, not all internet businesses will make you rich. So, before you commit to an online business, it’s important to understand how to make money online and which industries are booming.
Growing Trend Of Online Marketing
According to a report from the US Census Bureau, 11% of the world’s working population (more than 150 million people) work remotely, primarily through the internet. In the 2020 survey, 69% of respondents said they would consider a work-from-home position, with 20% likely to apply, and 11% not sure.
These statistics highlight the ever-growing importance of online marketing. If you’re looking for ways to make money online, you should consider exploring this industry. According to Future Inc, a marketing advisory firm, online marketing jobs will grow by 19% year from 2020 to 2025. So if you’re looking to enter the field or are already in it, rejoice! You have plenty of career opportunities.
Online Marketing Is A Lucrative Field
While the exact money figures are hard to come by, it’s estimated that the median annual income for a freelance marketer is between $30,000 and $50,000. According to the Bureau of Labor Statistics, the employment prospects for a freelance marketer look promising, with around 6,300 new jobs expected to be created between 2020 and 2025. The field is also relatively highly skilled and can provide a good living to those who possess the right credentials. For instance, a bachelor’s degree in marketing, advertising, or communication is required, along with at least two years of experience in marketing, advertising, or communications. Additionally, marketing specialists who have advanced degrees (e.g., MBA, MPA, or PhD) can expect to earn up to $60,000 per year.
With the right education and skills, you can look forward to a career in marketing, which helps businesses, brands, and advertisers connect with consumers. This is a lucrative field, but as mentioned, it can be quite competitive. To stand out from the crowd, you’ll need to develop new marketing strategies and tactics, become an expert in SEO, learn to code, and perform various other tasks. If this sounds like a lot of work, it is. Thankfully, you can find the help you need from marketing specialists who are willing to train you along the way.
Why Is Online Marketing Popular?
Marketing specialists now perform a variety of tasks, from SEO to content creation to email marketing and list-building. The demand for these services continues to rise, as businesses and brands are recognizing the benefits of digital marketing. According to HubSpot, a marketing software company, 60% of businesses are now using digital marketing to some extent.
This is also reflected in our increasingly digital world. In 2020, 80% of the world’s population use the internet, with only 20% being online-only users. This means that more and more people are connecting online, whether to research a topic, find a job, or simply to socialize.
With increased digital activity comes the opportunity to target the right audience and engage them into action. To make the most of this environment, marketers should be leveraging the vast amount of data available to them and using emerging technologies like chatbots and automated emails to reach customers where they are, whether that’s via a blog article or a social media campaign.
Which Industries Will Be Popular?
With more and more individuals taking the plunge into the world of freelance marketing, it’s important to note that not all industries are created equal. In fact, certain industries stand out as being particularly lucrative, with some even generating six-figure incomes and significant bonuses. If you’re looking to make extra cash, consider pursuing a career in one of these lucrative industries.
Here are some of the most promising industries for those looking to enter the field or already in it.
As the world’s population continues to age, the need for health care professionals will rise. According to the U.S. Bureau of Labor Statistics, around 22,500 jobs will be available in this field by 2026, with around 5,400 of those being physical therapists, nurses, and office administrators.
Those who enter this field will be able to work with patients and their families, as well as handle medical tasks such as documentation and filing. While in school, you’ll gain the necessary skills to work in a hospital or clinic setting, where you can expect to earn a median salary of around $50,000, depending on your education and experience. To get started, you’ll need a bachelor’s degree in nursing, physical therapy, or health care field, as well as at least two years of experience in the field. A commission-based health care worker will typically earn up to $120,000 annually.
If you’ve ever thought about pursuing a career in education, you’ve probably considered the lucrative world of online tutoring. According to the U.S. Bureau of Labor Statistics, around 15,600 jobs will be available in this field by 2026, with around 4,600 of those being online tutors.
While you may need to have a background in education to enter this field, you won’t necessarily need a degree to become an online tutor. All you need is a computer, a microphone, and some basic teaching skills. You’ll be partnering with students and parents, as well as administering tests and quizzes, so you’ll need to be detail-oriented and have excellent communication skills.
You can expect to earn a median salary of around $40,000 per year, provided you work for a well-regarded company and have at least two years of experience. However, the stress levels can be high – up to 40 hours per week, according to TutorVista – so you’ll need to be very driven and determined to succeed in this field. To get started, you’ll need a bachelor’s degree in education or psychology, as well as a strong background in the subject matter you’re teaching. Online tutoring is a relatively new industry, so there isn’t much in the way of professional development opportunities or additional earnings potential, aside from what you can achieve after working for several years.
With the media landscape shifting to digital platforms, traditional newsrooms are no longer the only places to find journalists. According to Poynter, a nonprofit news training institution, around 15,600 jobs will be available in journalism in the next four years, with around 12,700 of those being online-only positions. While many of these positions will require at least a bachelors degree, with some even requiring a masters, you don’t necessarily need a journalism background to enter this field.
All you need is a passion for writing and storytelling, along with a computer, a camera, and internet access. With so much competition, it’s important to stand out from the crowd, and to do that, you need to develop your own writing style and approach to journalism. You’ll need to find your voice and use emerging technologies to tell compelling stories that attract and engage an audience. To get started, you’ll need a bachelors degree in journalism or mass communication, as well as two years of experience. Once you’ve established yourself in the field, you can look forward to earning a median salary of up to $60,000 per year.
Engineering And Computer Technology
If you have a technical background and are skilled with computers and software, you can find jobs in a variety of fields, including engineering and computer technology. According to the U.S. Bureau of Labor Statistics, these industries will each see a huge increase in job opportunities over the next four years, with around 69,600 jobs being available in engineering, and around 50,400 in computer technology.
While you may need a degree to get started in these fields, you don’t necessarily need a formal education to thrive. All you need is a computer, an internet connection, and a willingness to learn. You’ll be working with technology and using your software skills to develop web applications, design databases, or analyze large amounts of data. To get started, you’ll need a bachelor’s degree in computer science or engineering, as well as two years of experience in the field. Once you’re established, you can look forward to earning a median salary of up to $60,000 per year.