But that’s not all – I’ve also included the best resources to help you get started on the right foot.
Curious?
Then just keep on reading!
Disclosure: Some links in this post are partner links. If you buy something through them, we may earn a small commission, with no extra cost to you.
1. Affiliate Marketing
Affiliate marketing stands out as one of the most profitable online businesses where you can earn money by promoting products or services. You simply promote products or services using a special link, and when people make a purchase through that link, you earn a commission.It’s a win-win situation for everyone involved – the company gets more sales, the customer gets a great product, and you earn some extra cash.
The global affiliate marketing industry is worth over $17 billion.
Plus, 77% of consumers make purchasing decisions based on reviews, so there’s a big opportunity here.
High-paying niches like finance, insurance, and technology offer even greater earning potential for affiliate marketers.
As for how much you can make, on average, affiliate marketers are making about $8,038 per month.
But it’s not all rainbows and sunshine in the beginning.
The first few months might not bring in much income. However, if you stick with it, after 6 months to a year, you might begin to see some progress coming in every month.
Getting Started
These platforms give you a space to share your thoughts, recommendations, and experiences with your audience.
Whether it’s through writing, videos, or images, your content should be genuine and helpful.
The key is to create high-quality content that people find valuable and engaging.
Remember, it’s not just about slapping a bunch of affiliate links everywhere and hoping for the best. You need to be strategic about the products or services you choose to promote.
It’s crucial to align with your niche or the interests of your audience.
If you’re a fitness enthusiast, for example, promoting workout gear or healthy supplements would make more sense than trying to sell car parts.
If you’re new to affiliate marketing and looking for a learning resource, you might want to check out the “Affiliate Marketing Course for Beginners” by Ahrefs. Where to Learn More
Additionally, the “Introduction to Affiliate Marketing for Beginners” by Simplilearn is another great resource for gaining a foundational understanding of affiliate marketing.
2. Selling Digital Products
Now, if you’re wondering which digital products are the hottest sellers, a recent analysis of over 96K creators has some interesting insights.
It turns out that courses take the lead, accounting for 35.7% of all digital product sales.
Right behind are Kajabi and Gumroad, with 2,434 and 2,393 creators, respectively. Etsy and Payhip are also popular choices, each being used by over 1,400 creators.
Getting Started
Research the market and determine a price point that reflects the value of your product.
Once you have your products ready, choose a platform to sell them.
There are several options out there, but Teachable is a popular choice for many creators.
Its user-friendly interface and customizable features make it a great platform to showcase and sell your digital creations.
Other platforms like Gumroad, Podia, Payhip, and Shopify also offer great options for hosting and selling digital products.
And don’t forget to create a solid marketing plan to promote your digital products through various channels.
Whether it’s through social media, email marketing, or collaborations with other creators, having a solid marketing strategy is key to driving sales and growing your customer base.
It’s also important to remember that digital products often take time to gain traction, especially if you’re just starting out.
Instead of giving up at the first sign of failure, use it as a learning opportunity to improve your product and marketing strategies.
Where to Learn More
From designing and selling party printables to creating digital planners and marketing eBooks, templates, and courses, there’s a wealth of knowledge to explore.
You can also find specific courses on using platforms like Canva and Shopify. If you prefer something free, YouTube is another great resource where you can find informative courses on selling digital products.
3. Print-on-Demand
Instead of baking the cupcakes yourself, you partner with a professional bakery (a print-on-demand company) to produce and deliver the custom cupcakes to your customers.
What’s great about this model is that you don’t need to worry about managing inventory, and the potential for profit is quite attractive.
On average, successful POD businesses can bring in anywhere from $4,639 to $9,833 per month, with profit margins ranging from 15% to 60%.