There are many reasons to have an online business. You need another source of revenue or are unsatisfied with your current job. Whatever your motives, knowing these 7 ways to make money online may better prepare you for any eventuality.
Technology already gained the world’s attention, but the pandemic increased a realization of the subject. Entrepreneurs and business owners must now embrace the bigger picture; that is technology, by especially tapping into its greatest tool, the Internet.
The Internet Surge In 2020
As of 2021, the Internet surged to a new high of 3.97 billion users worldwide, with China being the highest users at 874 million users and Northern Europe having the highest penetration rate at 97%. Narrowing the Internet’s impact on Nigeria would also see increased numbers. The country’s 2020 Internet users stand at 85.26 million. 41.1 % of the country’s population accessed the Internet through mobile phones marking an increase from the 2019 previous number of 34.1%. This statistic is expected to grow to 64.9% in 2025.
7 Ways Of Making Money Online In Nigeria
There is much to consider regarding which information one can rely on to start an online business or making money online. While some aspects may require in-depth knowledge in the field, others just require a basic understanding.
Naturally, running a business online may demand things like mobile phones, Internet connection, knowing how to create/own a website, and a computer.
The country’s online presence also marked a rise in the order of online business now operated. The Internet has verily become home to all sorts of easy-to-access businesses by its consumers. One must also be wary as hackers and fraudsters also use the platform maliciously.
However, there are still tons of online jobs and opportunities out there and they include:
1) E-Commerce Retail Store
Few online jobs can compete with the presence of, and demand for an online retail store. Movements were restricted, home deliveries became the norm, and what sounds better than shopping from the comfort of your home? That’s why you could also decide to sell things on the Internet and get paid for them. First, you need to figure out what products you want to sell. Then pick a niche while focusing on your target audience. Next, figure out a social media publicity strategy and always make sure you have products to satisfy your customers.
This usually requires a website, but don’t worry if you don’t have money to get one. They are e-commerce platforms that allow you to trade in Nigeria. So get informed and start selling.
Yes, for this you would need a website. They are some free-blog websites that allow you to post for free. But for the best business-owner experience and profit, it’s advised you get your website.
You can then decide what kind of content you would like to make. You could start by being a food blogger, travel blogger, or even fashion blogger. Opportunities run wild for this type of career and picking your niche and target audience goes a long way to determine how successful you will be.
Owning a blog also comes with understanding how Search Engine Optimisation works. Once you have wrapped your head around the way the Internet is used to search for content, you can now fill it up with relevant information. You get to decide what kind.
3) Online Ads Agency
If customers don’t buy products there would be no businesses. And if adverts don’t announce the business, nobody sees it. Now, this is where you come in as the middleman. An online ad agency is a link between the advertiser and the publisher. The advertiser happens to be the business that needs to be advertised. While the publishers are websites or platforms where these adverts for products are shown. Your job is simply to have a well-researched list of businesses that might need advertisement and connect them to the publishers. This business needs no major asset or equipment asides from your computer and Internet connection. And it might take some time connecting your dots for profit but it would be worth it. Start thinking ads-for-the-cash.
4) Forex and Crypto Trading
If you needed one thing amongst others to start this business, that would be the psychological balance to watch your money increase and decrease in trade. That is because the foreign exchange and the crypto market have the highest risks involved compared to the others on the list. The risk faced in this business is well-matched with its reward of high profits. The problem? Not everybody understands how foreign exchange and crypto markets work. Understanding a business is key to its success, it’s even truer for online trading. You would need a laptop or a mobile device, a good Internet connection, and at least 100 dollars to begin trading. If done well, this business could make you wealthy overnight. So do a lot of research and try not to panic; it’s part of the business.
5) Affiliate Marketing
Ever been called by a friend to introduce you to a business where he/she benefits if you join? Yes, we all have, and it’s not about to stop. Affiliate marketing involves referring a business to an individual. Money is made through referral bonuses, which are gotten if you successfully turn an individual into a direct consumer. This business doesn’t require start-up capital, and a mobile phone is enough. All you need to do is keep referring customers to a business and get paid for it.
This is like working on a contractual basis for different employers online. The many freelance sites online make your job easier. These sites contain buyers and sellers. Going there to render services makes you a seller and you get paid through that website upon completion of the job. jobs include content and copywriting, graphic designers, songwriters, etc. A lot of money can be made as a freelancer. However, it does depend on your skills and the demand.
7) SEO Analyst
Some online jobs require in-depth knowledge. One of such positions is that of the Search Engine Optimisation Analyst. Make no mistake, this is a high-profile Internet job and so it attracts high pay. Search Engine Optimisation help rank your content, blog, website, and other information on the Internet. A company may want to rank higher on Google; in that case, they would need an SEO Analyst. This job requires you to do tons of research on keywords, key phrases, inbound links, and every aspect of making a site rank high on Google. You would need a good Internet connection, a laptop, or a smartphone/tablet. A lot of courses may also be needed to understand what the job entails. Some of the courses are free while others are paid for.
It is amazing the number of opportunities patiently waiting to be grabbed by Nigerians. Instead of looking for a job, some time could be spent on learning more about these online jobs. Making money online is the catch these days. The secret is, you benefit more on a long-term basis, so master the skill to the fullest. Learn at least one out of the 7 new ways to make money online in Nigeria.