5 Common Internet Business Models Simplified
Who are new to internet marketing tend to get overwhelmed by the sheer number of
ways one can make money online. Unfortunately, all money-making methods are NOT made equal.
Survey Websites, performing microtasks for pennies, etc. are largely a waste of time and energy. Whereas other methods like affiliate marketing, arbitrage, product creation, etc. are extremely lucrative.
Knowing Which business model to choose is imperative to succeeding online. You don’t wantto spend time and effort trying to ice skate uphill. It’s ideal to go with the 5 recognized online business models below.
If you’re on a tight budget, it’s best to begin with freelancing. The good thing about freelancing is that it forces you to master a skill thatyou can use to generate an income online.
Ideally, your skills must be related to internet marketing. For Instance, Digital graphic design, content creation, search engine optimization, video
Go to freelance sites like Fiverr, Upwork, Legiit, etc. to get an idea
of what the popular gigs are. As long as you have the skills to provide similar
services, you’ll have the ability to make money.
It may take you a while to gain traction, but sooner or later clients
Will hire you, and if you do a good job and deliver the work on time or sooner, you can bet you’ll have repeat customers.
As you get more popular, you can increase your rates and so on. The Money you earn from freelancing can be used to finance your other online
- Product creation
Product creation is one of the fastest and most lucrative ways to build
An internet income. Once again, you may need skills and experience.
For example, if you are into fitness or survival or you’re really good at Building niche websites, you could write a book or create a course on what you are good at.
From there, it is just a matter of marketing to your niche audience.
While this description simplifies things a lot, the purpose you need to note is
that creating and launching your own infoproducts or tangible products is one
of the best ways to create an income online.
- Affiliate marketing
If you do not wish to make products and deal with customer support, that is understandable. You’ll probably be interested in affiliate marketing. This business model is relatively hands-off.
You’ll be promoting other people’s products and be getting a commission
Each time you make a sale. There are thousands of products to promote on ClickBank, Amazon, Commission Junction, etc..
As long as you can drive traffic to the sales pages, a percentage of
Your traffic will convert into sales and commissions for you.
Ecommerce has seen a boom due to the COVID pandemic. Millions of people are shopping online and getting used to it.
In ecommerce, you can either sell tangible products you create or you
May dropship products produced by providers together with your own branding.
Another type of ecommerce is called’Print On Demand’. In this
Business model, you are going to create designs which will be printed on hats, mugs, shirts, etc.. Websites like Custom Cat, Gear Bubble, etc will create the products
with your designs and ship them out. It’s a really hands-free procedure.
Ecommerce does demand a budget to begin. You’re looking at
Everywhere from 1k to 4k when you’re starting out. You’ll need to run advertisingand so forth.
This is a VERY profitable business model when you move on to a winning
product. There are many marketers making 6-figure amounts with dropshipping/print on demand.
- Kindle publishing
Kindle publishing is best suited for those who have always wanted to be
writers and publish their own book. If you are skilful, you’ll be able to
generate 6 figures .
You’ll also have to know how to outsource some of your writing so that
You can scale up faster. The key to increasing your earnings is to not only write yourself, but to employ others to write for you.
Selling on the Kindle market requires marketing skills too. It’s
Not all about being a good writer.
These 5 business models are a fantastic place to start from. If none of them
Seem like your cup of tea, you may research other business models like domaining, arbitrage, etc..
If you Pick a legitimate business model and you are focused and
Consistent, you will reap the rewards and have an internet business you can be proud of.