Do you want to know the secret to successfully making money online?
Or even better yet, how to make money while you sleep?
Of course, you do and I don’t blame you, it has to be one of the best feelings ever.
Roll out of bed, start making your morning coffee, check your sales stats from the night before and presto, you made $1000 while you were sleeping.
Hey! The year is 2020. You have no more excuses. The internet is not a fad, it’s not going away. There is an infinite number of opportunities to make money online.
Most of them don’t even require you to own your own website anymore.
I promise we’ll break it right down into easy to digest tidbits of information.
Even if you have zero internet marketing experience coming into this article, you’ll still walk away with a very good understanding of what you need to do next to get this ball rolling.
Now it’s up to, do you want to keep twiddling your thumbs, making up excuses why you can’t do it or do you want to make some serious cash!
How to Make Money Online in 2020
We’ll break down the pros, cons, and considerations you should be aware of each money-making method to give you a better idea as to what kind of online work is right for you.
Our first group of online money making ideas, you can implement right away, no website or additional equipment is needed, other than a laptop of course.
But in a pinch, you could use an internet cafe, so the computer isn’t a hard requirement, just a luxury.
1. Affiliate Marketing
Originally, when I wrote this article, I didn’t have affiliate marketing at #1.
But the more and more I thought about it, I realized, in 2020, there is no better strategy than affiliate marketing. Let’s get the basics out of the way.
What is Affiliate Marketing?
Affiliate marketing is essentially the same as commission sales. Affiliate partners promote someone else’s products or services by sending them customers(leads). If the lead buys something, you get paid a commission.
Why is Affiliate Marketing the Best Way to Make Money Online in 2020?
Affiliate Marketing has been the king of making money online for a very long time. The barrier to entry used to be a little more difficult and it wasn’t as widely accepted as it is today.
- Passive Income – makes money while you are sleeping
- Platform independent – it can be utilized on social, websites, forums, messaging apps, emails, paid ads, everywhere!
- Everyone is online now – everyone has a smartphone
Amazon’s massive growth into the behemoth it is today was fueled by its early adoption of affiliate marketing. Now, all the other companies are scrambling to play catch-up.
Almost every company with an online presence now has an affiliate program that you can partner with.
Why Do Most People Fail At Affiliate Marketing?
Because 99% of the YouTubers teaching affiliate marketing, tell their viewers that affiliate marketing is easy and simple.
Easy? Hell no. Simple? Wrong again.
Affiliate marketing is very, very hard. But if you learn it the right way, the payoff is huge. The problem is in the approach.
New internet marketers build their 1st online business in the wrong order and it’s not their fault. Most of the advice online is fragmented.
What Do All of These Have in Common?
- Instagram + Affiliate Marketing = $$$$$
- Pinterest + Affiliate Marketing = $$$$$
- YouTube + Affiliate Marketing = $$$$$
- Facebook Ads + Affiliate Marketing = $$$$$
- Niche Blog + Affiliate Marketing = $$$$$
- Email + Affiliate Marketing = $$$$$
The platform doesn’t matter, affiliate marketing makes money.
But most people start building and learning their chosen platform first and then they figure out how to monetize their content later.
This is backwards thinking and it will lead to your failure. Remember, this is a business so we have to treat it like one.
Experienced internet marketers know, you start with the end goal (the sale) first and build backwards from there.
You need to know everything there is to know about affiliate marketing before you start your new venture.
2. Email Marketing
3. Niche Blogging
While a bit more skill will be needed for this compared to other options on this list, starting your own website is a very lucrative way to earn some cash.
In combination with ads, sponsored posts, affiliate marketing, and downloadable digital products, you can build yourself a passive money-making machine.
As your website gets more and more popular, there’s even the possibility a larger company might want to buy it from you. While you’d lose that constant source of passive minor income, you’ll be trading it for a big payout.
Click here, and we can teach you, how to start your own blog that makes money right away.
The combination of these two incomes changed our lives for the better and taught us invaluable life lessons that we now use each and every day.
An online storefront doesn’t have to be your own website, though if you do choose to sell products online, having your own website is an invaluable resource that you own and that you 100% control. Nobody can take it away from you, nobody can raise the ‘rent,’ nobody can change the rules.
5. Write an eBook
eBooks are great ways to make money.
Much like a blog, you provide value and knowledge on a specific subject, get an excellent book cover made and sell your book on Amazon and Apple iBooks.
Free eBooks are also excellent internet marketing resources to entice readers to join your website’s email list.
Similar in nature to an eBook, an online course provides step by step instructions in a more rigid, school-like format. Online courses are growing in popularity, and so are the websites that host them, like Udemy and Skillshare.
Related Article: 15 Ways to Monetize Your Blog
While this position could be for any kind of video production work, vlogging, in particular, is a great way to make the most of what you already have at your disposal.
Travel vloggers can quickly and easily accrue hundreds and thousands of followers in a short amount of time, all that’s required is a good video camera, exciting locations, and the bare minimum of charisma. Provided you’ve got all of those on your travels, you’re set.
While vlogging itself probably won’t earn you much money, it’s best used in conjunction with other items on this list. AdSense, for example, will allow you to run ads alongside your vlogs on YouTube or a personal website, paying you for each view and page visit.
The popularity you gain from vlogging also opens you up to sponsored videos, product reviews, and similar brand deals.
Though few drawbacks exist to vlogging, it’s important to remember when and where it’s acceptable to film.
Be polite and courteous to the people and places you visit and don’t, for example, make and post a video of someone in a vulnerable state. You should also take precautions to not disrespect the culture of the places you visit, as an easy way to make enemies both on your travels and online is to be a jerk to people.
Is Twitch the new television? Twitch is a platform that allows channel owners/creators to ‘host’ live streaming. Typically the platform is for the viewing of expert video gamers, but increasingly other niches are becoming more and more popular.
Example. You are an expert at World of Warcraft. So much so, you decide that there is an audience who would benefit from watching you play daily.
A new Twitch channel is born.
Why would someone watch someone else play video games? Times are a-changing. The League of Legends 2017 World Championships were watching LIVE by 60+ million viewers.
Starting a Twitch channel most likely won’t generate much money in the first year. But depending on your audience’s engagement and your ability to entertain them, this can become quite a lucrative way to make money online.