Home /Marketing Agency/14 Ways To Make Money Online in 2020

14 Ways To Make Money Online in 2020

In this article you will learn How To Make Money Online in 2020, below we will discuss some of the best, sustainable, easy ways to make money. We will be covering all the pros and cons for each of them, start up costs and other important details you need to know before you jump into it!
          1. Affiliate Marketing
          2. Network Marketing
          3. CPA Affiliate Marketing
          4. Consulting
          5. Coaching 
          6. Services 
          7. E- Commerce
          8. Blogging/Vlogging 
          9. Digital Content
          10. Sponsorships
          11. Freelancing 
          12. Personal Branding 
          13. Growing & Selling Pages
          14. Social Media Marketing Agency

1. Affiliate Marketing

Affiliate marketing is one of the most popular ways to make passive income online. It allows you to add a steady stream of income to your blog, youtube, instagram or whatever site/ platform you're using, as a part of it’s monetization strategy.

Affiliate marketing is a referral bonus in which an online retailer (advertiser) pays you a commission when users purchase their product from your referral link.

Unlike other ad types, affiliate marketing works on CPL (cost-per-lead) or CPA (cost-per-acquisition) basis. That means you only earn a commission when your leads take action. But affiliate programs pay out much higher commissions to its affiliates. 

Pro

● Requires less capital to set up. You just have to build a site or a page where you can promote the product or services.

● You don't have to put in a lot of work. The product has already been created by the creator. 

● Side hustle. Starting up as an affiliate marketer doesn’t require you to leave your current job. 

● You also get support from the creator. All marketing materials are provided by the creator, so you don’t often need to produce any banners or any promotional materials.

● Passive Income - make money while you sleep, the sky’s the limit! Once you have set up the site or the page, you don't have to put in much work. Money will still come, after a year or even 5 years without doing anything. 

Cons

● No Guarantee of Revenue. Affiliate marketing can be a tremendous opportunity as well as a significant risk. No one promises that 50% of your traffic will be converted into leads and that you are going to earn the expected revenue right away.

It’s a challenge you have to face. I recommend using the Quality approach. You have to make sure that the product in which you are an affiliate of is actually giving tons of value to consumers. 

2. Network Marketing

Network Marketing is a business model in which a distributor network is needed to build the business. It is also known as MLM (Multi Level Marketing). It is also suitable for people looking for part-time, flexible businesses.

Some of the best-known companies in America, including Avon, Mary Kay Cosmetics and Tupperware, fall under the network marketing business.

Network marketing programs feature a low upfront investment, usually only a few hundred dollars for the purchase of a product sample kit and the opportunity to sell a product.

Most network marketing programs also ask participants to recruit other sales representatives. The recruits constitute a rep's "downline," and their sales generate income for those above them in the program. 

Pros

● It provides a proven product, marketing plan, mentorship, and training and support. It's a business in a box that supplies everything you need.

● Network Marketing helps you to improve your communication skills and reduce fear. 

Cons

● Most people don’t get rich through network marketing. You got to make the sales.

● Network Marketing takes time to grow, especially if you are hoping to make big money out of it.  

● There is a lot of rejection involved, you should be able to deal with it and not give up. 

3. CPA Affiliate Marketing

CPA marketing stands for Cost per acquisition/Cost Per Action Marketing. CPA marketing is an affiliate model where a commission is paid when a user takes a specific action.

CPA is considered to be easier than affiliate marketing for a simple reason; here you get paid for sending a lead.

Once the traffic you send converts into a lead, after that it’s the job of the particular network to convert into the sales. Anyhow, you would be paid for the lead. 

Pros 

● It pays more.

● There is no need to reach into anyone's wallet. With CPA marketing. It is relatively easier to ask someone to give their contact information in exchange for something, rather than to convince the same people to buy a product online. 

● In the CPA network you will be assigned with an affiliate manager, who guides you for the best offers and shares ways to help you make more money. 

Cons

● Getting accepted to CPA affiliate marketing programs can be quite a challenge. Companies that administer these programs want quality traffic.

As there are a lot of people who would like to promote their offers, admission into these networks can be tough. Some programs even require a telephone interview prior to accepting new affiliates.

4. Consulting

Consulting is the business of providing expert advice to your clients. The first step is to get some expertise in a niche that you like and you should act on it and have results.

Then you can become a consultant who gives advice to people, where you can help your clients to get from their current status to their desired status.

Pros

● It's easy. Basically you pick something you know how to do well and sell your expertise.

● You can also pick someone else's business, if you don't have time to set up yours. Like there are companies looking for consultants and you can be one. 

● You also get to develop your skills and build your network of people. 

Cons

● More work and time consuming, as you have to take care of your clients and track their progress.

● There will be stress and some uncertainty involved. 

5. Coaching

Coaching is the business of helping and teaching your clients to get their desired results. Coaching is also defined as a “partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential”. Coaching could be online or physical.

You have to pick a niche. Coaching could be on niches like Personal fitness, Fashion, Diet and Nutrition, Marketing, e-commerce, and many more. 

Pros

● Ability to make high income faster. You can get high income without a huge audience. People pay more for personalized one-on-one programs, just like a personal gym trainer charges more money.

● Work from home by offering online coaching. 

 Cons

● You gotta have the desired results to prove to your clients that you have expertise, in order to gain their trust.

● You need to be an excellent communicator and have the ability to listen. 

6. Services

A service business is a company that provides certain professional support or services to its clients. In these types of businesses, we are not selling any product but services, services that will help our clients. 

It could be anywhere from lawn care services, pet grooming services, food delivery services to office-support services, copywriting services, limousine services, etc.

But if you want more trending online services ideas, it could be like business consulting, graphic design, web design, mobile app development, copywriting, advertising services, digital marketing, SMMA, lead generating, IT service, virtual assistant services, etc 

Pros

● Low-cost startup.

● Large market. You have a big audience to target. 

● Little or no upfront capital required for online service providers. 

Cons

● Time consuming.

● Limited creativity. As you are working for another person or business, your creativity is limited to the client’s requests. You have to work on your client’s specification even if it goes against your opinion 

7. E- Commerce

E-commerce (electronic commerce or internet commerce) is the buying and selling of goods or services on the internet and the transfer of money and data to execute these transactions. By 2040, around 95% of all purchases are expected to be via ecommerce.

You can do an e-commerce niche research and can establish your own brand or an e-commerce business.

There are also many platforms that you can leverage, like shopify, amazon fba, etc. and do dropshipping. But you need to do a lot of research before starting and pick the right niche and the products for you. You also need to have good customer service. Your customers are your most important asset. 

Pros

● Ability to generate large revenue.

● Easy to retarget or remarket to customers. 

● Your business can also save money on rent, utilities, maintenance, and other costs associated with physical stores. 

● Ability to scale up quickly 

Cons

● Upfront capital is needed.

● Inventory space. 

● Some products could be seasonal 

8. Blogging/Vlogging

Blogging or Vlogging are very similar. In fact, many bloggers have become vloggers, and many vloggers also have a blog.

A video blog, usually shortened to vlog, is a form of blog for which the medium is video content, whereas for a blog the medium content is a written article.

So basically a blog is an article explaining any topic that you had knowledge about or that you're interested in. And a vlog is a video explaining any topic that you had knowledge about or that you're interested in. 

There are different platforms that feature vlogs, such as YouTube, Viddler, Vimeo, DailyMotion, and Facebook. Whereas, platforms that feature blogs are such as Wix, WordPress, Tumblr, and Blogger.

Then the monetization part comes in. It could be from advertising, sponsorship, affiliate marketing,etc.

Pros 

● Become your own boss.

● More fun and energetic and hence better work output. 

● Low startup cost. 

Cons

● Google SEO is hard for some competitive niches.

● Requires regular updates. 

9. Digital Content

Producing digital content could be anywhere from selling photos and videos, producing infographics for clients, producing instagram content, producing pinterest content to creating ebooks, courses, etc. You could produce digital content and make money.

An example is, I personally hire someone to make my instagram infographic content for $ /per month. So he makes $ /month by producing digital content and that's with just one client. 

Pros

● Consistent source of income, if you could land a client and gain his trust.

● Your skills and creativity grows. 

● Work from home. 

Cons

● Work might consume more time.

10. Sponsorships

Sponsorship is when a company commits an exchange of money for services. A sponsor pays a business or individual to promote a brand.

This sponsorship can be in the form of direct advertisements, like when an athlete does a commercial for a shoe company and wears that company's shoes when he plays. Sponsorship is a key to powerful marketing.

You can do sponsored posts on social media, on blogs or on youtube. 

Pros

● Minimal work.

● Good Commissions

Cons

● Need to have an audience and personal recognition.

● High Difficulty Entry barrier!

11. Freelancing

A freelance job is one where a person works for themselves, rather than for a company. Millennials are the largest contributors to the freelance community.

Technology has made it easier to find freelance work. Most freelancers thank technology for making it easier for them to get jobs online. Freelancing sites like Freelancer, Upwork, Fiverr, etc. have enabled freelancers to easily find work based on their skills and experiences.

Freelancing is about skills and speed, with increased numbers of freelancers in almost every profession. Most jobs for freelancers require the work to be completed within specified deadlines. 

Pros

● High earning potential and you can raise your rates any time you want.

● Flexible hours and schedule. 

● You get to choose your work. 

Cons

● Monthly income might fluctuate.

● It can be isolating and lonely. 

12. Personal Branding

Personal branding is the practice of marketing people and their careers as brands. It is an ongoing process of developing and maintaining a reputation and impression of an individual. Your personal brand is how you promote yourself. Some great examples of personal brands are Oprah, Gary Vaynerchuk, etc.

If you know how to present yourself in the right way to your current and potential clients, it gives you the opportunity to ensure people to see you in the way you want them to, and not in a weird or bad way.

And when you finally have an audience big enough, your sales will explode when you introduce a product or sell something like coaching or mastermind groups, or an event. 

Pros

● You gain leadership.

● Ability to have a big audience, as people like to do business and buy from real business people. 

Cons

● Get ready for some criticism.

● Takes time. 

13. Growing & Selling Pages

Growing and Selling Instagram Pages is like flipping a house. You buy cheap, add some value, and resell fast.

You can literally build a page by picking a niche and then grow it to a large following. Then you can use it to sell shoutouts, you can also use it to sell infoproducts or use it for affiliates. You can also flip the account for quick profits.

Pros

● High Profit Margin.

● Clients are easy to Find as compared to others

Cons:

● Takes time and effort to grow an account.

14. Social Media Marketing Agency

Social Media Marketing Agency as the name suggests uses various social media sites as a medium of marketing.

A social media Marketing Agency provides advice on content creation, information on how to use facebook ads, build your brand, increase website traffic, boost conversion rates, personalise the customer experience, how to have better search engine rankings, etc. they can also provide clients with highly-targeted advertising opportunities.

Some SMMA’s also provide services like managing social media accounts and running fb ads. They help you in growing your social media accounts.

They can also help you in raking your website on google using SEO. Their main goals are to help their clients increase their sales and lead generation, increase traffic and engagement. 

Pros

● Cheaper than other forms of marketing.

● Larger target audience. 

● Relatively easy as compared with other forms of marketing. 

● High income. 

Cons

● High competition.

● Most small business owners don't take SMM seriously, as they don't know the value it can bring.

CATEGORIES

ABOUT US

What's up Marketing Entrepreneurs and welcome to one of the BEST blog for anyone aspiring to utilize Digital Marketing tactics for their own agency or business!

Make sure to check back regularly as we are going to release TONS of FREE info to help you increase engagement & sales for your clients or business. 

Talk to you soon!  

P.S. 

If you haven't signed up for your 100% FREE Revenue Growth strategy call yet you're really missing out on some GREAT info.  

Check it out we will literally look at your Facebook ads account, your funnel, your numbers, listen to your goal and tell you exactly what to do to achieve them for FREE here.

Want Free training videos to build a
$100.000+/yr online business?

Join the community!

how to get digital marketing clients, how to approach a client for digital marketing, how to get digital marketing clients, how to get clients fast, how to get clients for a new business, how to find clients online how to find client online for smma, how to find client online for digital marketing agency, how to get digital marketing client in 2020, how to get customers for digital marketing how to pitch clients for digital marketing, how to get marketing clients

© YE Social Media Agency