Nowadays, many people look for easy methods to gain extra cash. Thankfully, there are many ways to make money online, boost your monthly income, or even begin a new career.
In this guide, we’ll focus on short- and long-term money-making ideas to make extra cash by relying on digital resources. Find what suits you best based on your availability and needs.
Let’s get started!
1. Create A Newsletter
Revenue potential: You can start with $10/month per subscription, and reach up to $2000 through sponsorships as your audience grows.
Global email users are expected to reach 4.6 billion by 2025. Consumers spend lots of time in their mailboxes daily for work or personal purposes. From communicating with colleagues to searching for product sales or new content, this channel is increasingly gaining ground in consumers’ trust.
If you enjoy content writing and have a certain expertise or passion for a field, you can start your own newsletter and profit from it by building a premium subscription with exclusive content. Exploding Topics and the Motley Fool are great examples to get inspired.
You can start small by sharing a landing page on your social platforms to gradually build an audience. Once you gain more traction, you can invest in a website and motivate your greatest fans to move to premium. Explain all the benefits they’ll reap if they do so and try to reach up to their expectations. Here’s how Stacked Marketer approached it:
Before monetizing your newsletter, check the competitors’ pricing in your niche to stay ahead of the curve. As your email list and audience grows, you can also partner with sponsors and earn more money by sharing their content or brand assets in your newsletter.
To start creating newsletters and managing your audience, you need a scalable email marketing solution with user-friendly features and pricing that only increases when your audience and revenue grow.
The best option is Moosend! You can simply use its ready-made templates and intuitive editor to create amazing campaigns without coding or design skills. Start your 30-day trial for free today – no credit card required!
2. Start An E-Commerce Business
Revenue potential: You can reach up to $63,000 in monthly revenue in three months and up to $127,000 in year one.
If you’re looking for a large payout that can gradually lead to a full-time occupation, you can start an online store. Setting up a small business online has never been easier, as long you find the right products/services.
To build a profitable business, find products/services you’re passionate about and conduct market research to determine their potential. Then, sit down to map the logistics. You don’t have to start big, just shape your brand and take it one step at a time.
Moreover, you can also get into the world of dropshipping, a business model that has gained many fans over the years. In short, you act as a mediator between the customer and a third-party supplier. You don’t need anything in stock, as they fulfill the orders on your behalf.
E-Commerce Platforms To Build Online Stores
What are the most popular eCommerce websites to start your online store from scratch? Here are some options:
- Shopify: One of the most popular website builders, with an easy-to-use setup and plenty of help during onboarding. The platform offers many premium features and add-ons, and pricing starts at $29/month.
- BigCommerce: It includes an intuitive website builder with various customization capabilities. This platform supports multi-channel selling, SEO tools, and many payment options. Pricing starts at $29.95/month.
- Wix: A user-friendly website for beginners and many designer-made templates to build a beautiful website. However, its inventory management is not the best in the market. Pricing starts at approx. $20/month for basic features.
- Woocommerce: It’s a free WordPress plug-in and one of the most popular websites for eCommerce stores. Some of its pros are its SEO capabilities and customer support. However, it’s not one of the most scalable solutions.
Overall, it’s easy to say that opening an eCommerce store is not a low-effort deed. To ensure that everything runs smoothly, look at this comprehensive eCommerce business plan guide. If you’re short on time but fascinated by this business idea, consider drop-shipping as an alternative.
3. Join An Affiliate Marketing Program
Revenue potential: Novices can earn up to $1,000, mid-level affiliates can reach $10,000 while advanced affiliates can make up to $100,000+.
Becoming an affiliate marketer should be ideal for professionals interested in making a passive income.
Affiliates can choose between physical and digital products as long as they feel that they can convince their audience to buy them. Even though promoting physical products can convert faster than digital, the commission is usually lower.
You must be logged in to post a comment.