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Due to the recent global pandemic, many businesses have been forced to close down, leaving many Filipinos without a job. Other companies, in turn, have pivoted to conducting online remote work to keep their operations running.
But thanks in large part to the growth of e-commerce, individuals need not limit themselves to traditional full-time employment to earn a substantial and reliable income. As long as they have a stable Internet connection, a reliable computer, and a digital payment solution such as those offered by Maya Business, they can take advantage of all sorts of revenue streams. If you’re interested in learning more, read on for ten proven ways to make money online no matter where you are in the country:
1. Online Stores
The popularity of online shopping has grown exponentially in recent years, with total sales reaching an all-time high due to the community quarantine. That said, you could stand to make quite a profit by starting your very own online store.
The best part is that you don’t need a lot of capital to get started. All you need is a decent camera, a product to sell, and a platform to sell it on. You can choose to set up your shop on an existing online marketplace, a social media page, a hosted online store, or a self-hosted online store. For each product listing, all you have to do is craft an eye-catching name, write an engaging description, and upload a high-quality photo and you’re good to go.
While most online store owners keep track of their own inventory, it’s actually possible to sell products online even if you don’t have any stocks on-hand. This is thanks to the dropshipping model, wherein a third party will take care of producing, packaging, and shipping orders straight to your customers. If you’re just starting out and can’t afford to order inventory wholesale, dropshipping may be a safer option for you.
2. Digital Products
Digital products are intangible pieces of media, assets, or tools that come in the form of downloadable or streamable files.
Once a digital product has been created, you can sell as many copies of it as you’d like, as it has an unlimited duplication and shelf life. And since they are electronically delivered to your customer, there are no shipping costs incurred. Additionally, you can automate order fulfillment, meaning you can make money even in your sleep. Hence, selling digital products can be a particularly promising revenue stream for those who enjoy the creative process, especially since there are lower barriers to entry.
That said, the tools you need will depend on what type of product you plan to sell. And when it comes to selling digital assets, the possibilities are endless. You could sell stock photography, music, and video clips, graphic design assets, website themes, e-books, wallpapers, and more. To expedite the process, you may even consider hiring freelancers to produce the content for you. Once your product is ready, all you have to do is put it up for sale like you would a physical product.
3. Freelance Services
A freelancer is a self-employed individual who offers their professional services on a project or contractual basis. Unlike a full-time employee, freelancers often work with multiple clients at a time. Because they’re not bound to a single employer or a strict work schedule, freelancers have the freedom and flexibility to choose what projects or clients they want to take on. Depending on their years of experience and level of expertise, freelancers can charge competitive rates that are on par or even more than what some employees can make.
The good news is that practically anyone can become a freelancer as long as they have a skill that’s in high demand. You can start by joining online freelancing platforms to get your first projects. While they’re usually free to join, do note that they take a significant cut of your profits in exchange for the visibility they provide.
Once you’ve built up your reputation, you may want to create your own portfolio website and start pitching directly to clients instead. It’s also a good idea to nurture your professional network to increase your chances of getting client referrals.
4. Affiliate Marketing
Affiliate marketing involves promoting another brand’s products or services instead of your own. Said brand will then pay you a commission for each successful sale that you make.
To get started as an affiliate marketer, you first need to conduct market research, where you’ll look for profitable products or industries that you can create relevant content on. Then, use a keyword planner to find out whether there’s enough demand for the product or industry you’ve identified. Next, you’ll need to build your reputation by providing value to others. You can do this by writing informational posts as well as answering people’s questions in online groups.
Once you’ve built up a solid following, start searching for brands that offer affiliate programs. You can also sign up for affiliate networks that have connections to companies in various industries and niches. Certain brands may even offer affiliate programs exclusively through these networks. When choosing what to promote, we highly recommend going for products or services you would personally buy for yourself, as it’s easier to sell something that you personally believe in.
5. Blogging
Many Internet users now turn to blogs as their primary source of information for all sorts of topics, ranging from fashion and lifestyle to business and personal development. As long as you’re knowledgeable and passionate about a particular niche and can write about it fluently, you’ve got what it takes to run a successful blog.
To start blogging, all you’ll need is a domain name, a web hosting account, and a content management system. Next, you’ll need to come up with a content calendar to plan out your articles for each quarter. This is crucial, as consistent writing and publishing is the key to building a loyal readership. Once you’ve determined your topics and posting schedule, it’s time to start writing.
When it comes to monetizing your blog, one of the most ubiquitous ways is to display ads from other companies. You could also accept paid reviews and sponsored posts, wherein a business reaches out to you to talk about their product or service on your blog. In some cases, companies may offer to sponsor the creation of a specific post and will simply request for a link back to their website.
6. Podcasting
A podcast is a series of on-demand digital audio files focused on a specific topic or theme. Because they can be played while going about one’s daily routines, podcasts have become an extremely popular form of entertainment.
While podcasts are often distributed for free, there are various ways of monetizing them. For example, you can generate income via commercial sponsorships, usually based on a cost per impression (CPM) model. You can even reach out to podcast ad networks that can connect you with interested advertisers. They’ll do all the work of finding advertisers, negotiating rates, and creating a script. Alternatively, you can try to directly contact brands that may be a perfect fit for your audience.
Creating your own podcast will require only a few tools, namely a computer, a microphone, and free recording software. While you can record and broadcast episodes from anywhere, we recommend setting up your own podcast recording station for optimal output quality. It’s also a good idea to record and queue episodes in advance so that you can maintain a consistent airing schedule.
7. Vlogging
A portmanteau of the words ‘video’ and ‘blog,’ vlogs refer to pre-recorded or live shows published and distributed through the Internet. As a revenue stream, vlogs share many similarities with blogs and podcasts. For one thing, vlog channels are usually centered around a single theme or topic. When it comes to the subject matter, you can vlog about practically anything, whether it’s a hobby, a particular industry, or your personal experiences.
In most cases, vlogs are monetized via brand sponsorships. Typically, a company will request the creation of an episode that covers topics relevant to their audience’s interests, with a mention of their brand at the start or end of the video. Another popular monetization method comes in the form of pre-roll and mid-roll advertisements, which play before and in the middle of a video respectively.
When it comes to production costs, vlogs require more tools and equipment than blogs or podcasts. At the very least, you’ll need a computer with a relatively powerful processor, a video editing program, and a web or video camera. To boost the quality of your output, we recommend investing in studio lights, soundproofing, and a professional-quality camera.
8. Information Products
Given the rise of the knowledge economy, it’s no surprise why e-books, audiobooks, and online courses are growing in popularity. So if you happen to be particularly knowledgeable about a specific skill or subject, you could potentially earn a lot of money from selling your expertise.
If you’re interested in selling information products, we recommend starting off with an ebook. Overall, it offers the lowest barrier to entry, as all you’ll need is a computer and a word processor to get started. However, it does require time, patience, and determination, as writing a book can be a laborious endeavor. But once you’re finished, you can self-publish it using existing online marketplaces or by setting up a simple store on your own website.
The best part is that you can further monetize your ebook by converting it into an audiobook, which is basically an audio narration of your written content. To keep costs down, you could record it yourself using a computer, a microphone, and a free audio-recording software. Another way to repurpose your content is to convert it into an online course, offering worksheet PDFs, slideshows, and video recordings of your classes.
9. Webinars
Webinars are essentially presentations, lectures, workshops, or seminars conducted over the Internet via a video conferencing software. Unlike online courses, which are usually pre-recorded, webinars are held live to allow for direct interaction between the speaker and the viewers. Because of the digital nature of a webinar, there is little to no overhead cost since there is no need to rent a venue. As a result, webinar tickets can be sold at a more affordable and attractive price point. Additionally, participants can tune in from the comfort of their home, eliminating the need for them to travel just to attend the session.
To host webinars, all you’ll need is a fast Internet connection, a headset, a web camera, a computer, and a video conferencing app. You’ll also need to determine what industry or niche you want to focus on. Then, ask your target market what topics they’re interested in learning about. You can then draft your webinar outline based on their answers. In terms of marketing, you can try offering free introductory webinars first, with a call-to-action promoting your paid webinars at the very end of the session.
10. Tutoring, Coaching, and Consulting Services
If people often come to you for help regarding your area of expertise, you may have a shot at making steady income as an online tutor, coach, or consultant. Instead of doing the work for them, you’ll instead be providing them with professional advice along the way. But unlike an online course or webinar, which are made available to dozens or hundreds of viewers at a time, these services are usually conducted via one-on-on sessions.
Similarly to webinars, you’ll need a computer with a reasonably fast processor, a good-quality webcam, a headset, and a free video conferencing app. As for finding clients, you can browse through online platforms or job boards with a focus on teaching others. These typically pay hourly or per-session rates, though the exact amount you’ll earn may depend on the subject matter you’re teaching.
Once you’re ready to take your earning potential to the next level, you’ll want to eventually search for your own clients outside of these job platforms. To help build your credibility, invest in a professional website featuring testimonials from your past clients. Most importantly, promote your services in high-visibility venues that are relevant to the niche you serve.
These are just some of the best strategies for earning money through the Internet. That said, diligence is the key to successfully making a living online. Putting it simply, how much you’ll earn will greatly depend on how much you’re willing to invest. If you’re ready to put in the work, though, you could potentially build reliable sources of passive income down the line.
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