The internet is a game-changer on how people engage in business activities. There is flexibility, wide market reachability, and cost-effectiveness in the online business sector. Anyone with a computer or any portable device that can log onto the internet can enjoy countless opportunities that lead to financial liberation.
Additionally, it does not limit someone to a particular geographical area as long as you have internet connectivity and the necessary infrastructure, you can engage in business activities 24hrs a day. A good example is GG money online, where they train you on how you can make money by marketing real estate through social media.
Let’s look at some of the business opportunities that a beginner can engage in with the above in mind. We’ll also inform you of each business pros and cons.
Here are the online marketing business opportunities that the beginner might want to engage in:
- Dropshipping
The concept behind online dropshipping is that, as a beginner owning a small business, you are not required to maintain a large inventory, keep any inventory at all, or even engage in the final consumer’s delivery process. You only need to market, advertise, and sell the products online and then leave the other tedious warehousing process, packaging, transporting, delivering, and invoicing to the drop shipping company.
This eliminates the hustle and financial risk of handling, storage, and delivering the goods. This is one of the best online marketing business ventures that you can engage in either part-time or full-time. You need knowledge in basic computers, put in some hours of study to align yourself with the trade concepts. The following will suffice:
- List products that you want to sale on your chosen online platform, which can be Amazon, eBay, or Etsy
- Once the clients make a purchase, you procure the product from the manufacturer or wholesaler at a reasonable price.
- The whole process is automated, so there is no risk of handling the product since your drop shipper gets the product to the customer.
Pros
- Very minimal capital required to start up
- Maintaining Inventory not necessary
- You can tap into existing customer bases
Cons
- The competition is stiff
- To generate a high income, you must sell huge volumes
- Start blog
A blog is an online platform that allows a writer to share views on a specific subject.Blogging offers a viable small business opportunity that avails the options in a niche market that suits you. A Blog can bring in money through affiliate linkages, advertisements, and many other financial streams. It’s easy to set up since you only need to register a domain, Web Host, Install WordPress, install a Theme, Create Content and Optimize for Search Engines (SEO)
The Pro’s
- You can generate revenue through advertisements
- Cash streams through affiliate linkages can be an excellent source of income
- Very low start-up costs
- Flexible work schedule
The Cons
- With over 440 million blogs globally, it is an indication that the competition is very stiff
- Other tech-savvy bloggers can create linkages that can divert traffic to their site without your knowledge
- Online Video content
- With 2 billion-plus users enjoying hundreds of millions of hours of incredible content daily on youtube, you can get so many subscribers on your channel. If you are a content creator, you can monetize your work on youtube by uploading your content, which will earn you money with ad revenue from YouTube.
- Creating a YouTube channel is free. Once it’s up and running, you can now upload videos, enabling monetization on your channel’s settings, which indicates to Google that they can place AdSense ads with your content. Anytime viewers click on the ads, revenue is credited in your favor.
- Paid sponsorships also rake in revenues. Once you can demonstrate that you have put together a massive following on your channel, companies want to pay you to promote or route their products and services in your video content.
The Pros
- With a smartphone or computer, you can create content
- An array of niches to choose from
The Cons
- Generating content can be quite taxing
- It may take a while to open up the financial streams
- Start an Affiliate Marketing
This is the process of making a commission by promoting other people’s products. It can be done in two ways:
- Information products. You can make upto 50% or more in commissions by promoting e-books, video series, membership site, and so forth
- Amazon partners. Amazon has a pool of millions of products that you can choose from, which has brought about many affiliate marketers. Basic knowledge of SEO and copywriting is, however, required before you start affiliate marketing
The Pros
- Does not require any initial capital to start, therefore its low risk
- It offers a Hands-off commercial model
The Cons
- Directing web traffic to the affiliate link is your sole responsibility. Without traffic, you don’t get paid
- Most of your resources may be gobbled up by advertisement and marketing
- Information Products
Informational products are not tangible;subsequently, you are not required to sell physical products. Digital information products can avail of an avenue where you can get quick money. Some of the most popular information product formats are:
Audio: These come in the form of a teleconference, spoken word, interview, or a course
Video: Can include a recorded webinar, a how-to, or an interview
Text: an e-book, a travel guide, or an instruction booklet
In each of these categories, you can get creative and make any format content, as long as it’s engaging and useful.
The Pros
- These products can generate passive income once you put the product on the market
- Can bring quick earnings
The Cons
- Creating a product is quite tedious and time-consuming
- Requires initial investment
Conclusion
Starting an online marketing business requires some time to wrap your head around it. To succeed where others have failed, you need to put in hard work, patience, anddiscipline. When choosing your niche, go for something you feel you can do with a bit of work, rather than a complicated one which you might be forced to abandon midway. Finally, before you do any transaction online, a fact check to avoid getting scammed online should be summoned.
