How much time are you spending on the internet since you are locked down? A lot, right? With nowhere to go, the internet is the primary source of entertainment, education, work, and business. This explains the increase in internet usage by 50-70%, reveals multiple brands, which unfolds a unique aspect of the impact of the Covid-19.
Although the internet is full of the negative impacts of this deadly virus on the economy, yet there is a positive side too. The increased consumption of the internet has opened up growth opportunities for many online businesses to an unimaginable extent.
Online educational platforms are benefitting from shut down schools; digital advertising has boomed with the surge in online surfing and online fitness platforms are on the rise with the gyms being closed. Many growth driver businesses have witnessed a significant increase in their revenue during the current pandemic situation.
Let’s take a look at the top businesses that are growing exponentially due to the increased usage of the internet:
#1. Ad Management – If you thought that paid ads were not that significant, then you need to consider why online giants like Facebook, Instagram, Youtube, Google still invest in it despite having a roaring presence.
With the growing digital dependence in the current situation, paid advertisements have proven to be a dialogue with the potential customers pulling them to the zone of conversion. If you are not a pro in it, then avail the services from a seasoned professional or company, and it is undoubtedly the right time to learn it if you have been procrastinating.
Pro Tip: Strategize your ad campaigns aiming at the long-term goals in your pipeline, breaking the goal into 30-60-90 days priorities. Measure the results after every campaign and implement changes immediately. Don’t miss out on the customer journey to place the ad right at the heart of the potential customers.
#2. Webinar – COVID-19 forced the entire events industry to move online. With social distancing becoming the new normal, online events, conferences, masterclasses and networking sessions will overpower offline events for a long time. With this, webinars have become mainstream for lead generation not just for brands but for individuals wanting to generate an alternative revenue source. Building a webinar from scratch can be a task, but there are plenty of tools such as Demio and WebinarJam that help you make an impactful webinar with maximum assistance.
Neil Patel’s webinars are an excellent example of a business crushing the negative impact and booming profits during these testing times.
When you prove that you are a good source of information, share your knowledge with paid webinars. Charge an admission fee for the live online event. Alternatively, you can arrange free product demo videos and make money when the product is put for sale. You can also create online courses that the attendees can buy at the end of the webinar.
Pro Tip: Bring value to your audience. Ensure that the webinar timing is right. Promote the benefits instead of the features. Don’t miss out on the CTA. Follow up with the attendees immediately after the webinar, to get the maximum bang on your bucks.
#3. Podcasting – Podcasting has emerged as one of the best business opportunities in current times and has witnessed an increase of 42% recently. Contrary to the popular belief that podcast listening is related to commuting, Voxnest found the podcast listening behavior having shifted with the coronavirus outbreak.
Getting started with a podcast is the simplest and most convenient way to initiate an online venture as all you need is a microphone, a quiet background, and a confident voice. Pick a topic that people can associate with or is your subject of expertise. For instance, podcasts on successful marketing or marketing on a budget during Covid-19 can also help you connect with the masses. Podcast listening is igniting a loyal and deeply engaged group of listeners as working from home is the new normal.
A few ways you can profit from your podcast are sponsorships, crowdfunding, affiliate marketing and virtual summits. John Lee Dumas, the founder of the podcast Entrepreneurs on Fire publishes monthly income reports sharing insights on monetizing a podcast.
Pro Tip: Internal podcasts within an organization are a big hit when people are trying to cope with the new trends of the industry. Collaborating with seasoned professionals across the globe can help you expand your reach.
#4. Online courses – Ramit Sethi, The New York Times best-selling author of I Will Teach You To Be Rich offers free and paid courses to millions of people worldwide. His online courses help people launch and scale online businesses, find their dream jobs and teach them financial management. Ramit has distilled his learnings into online courses that make millions of dollars. If you Google his net worth, you would understand the volume in the profession of business coaching.
To become a business coach who creates online courses,
you need to have exceptional knowledge of a subject in the industry to lead people and help them achieve their goals. A business coach knows the ins and outs of a domain and is ready with handy fixes to meet the unique needs of the testing times.
Pro Tip: Gather social proof to explain how your mentorship can bring a major impact on the client’s business. Lead by example, talk about industry trends and keep your online presence updated. On his blog, Ramit talks about the power of collecting the right testimonials for building a killer profile.
#5. Credit repair consultant – With the current economic slowdown, it has become critical to maintaining a good credit score to get a job or mortgage. A credit repair consultant helps by fixing a negative credit report enabling the customer to avail of the benefits of credit cards, jobs and mortgages.
While many parts of the credit score algorithm are unpredictable, a credit consultant can help consumers raise their scores and improve their financial outlook.
Pro Tip: It is essential to understand the legal formalities involved in the credit process of a specific region if you want to practice this as a profession. A certification is a must-have to perform the job with accuracy and instill confidence in the clients.
#6. Advertising on your blog – In the recent past, blogging has emerged as a lucrative option of making money online. An important concept to note here is that blogging is a journey that takes time and effort, you can’t expect instant returns from it. If you start blogging from today, you will have to create the targeted product/services-based blogs including the relevant keywords and links. With consistent blogging, you will build a regular base of audience and email subscribers. Then, you can start advertising on the blog in the form of Google Adsense, banners ads, streaming videos, affiliate links, audio scripts, product recommendations and sponsored posts.
Adam Enfroy’s blog generated nearly $ 74,500 in April 2020. If you are looking for different ways to earn a side income from your blog, his monthly income reports show the different ways to monetize a 16-month old blog.
Pro Tip: Focus on the quality of the content. Deliver real value. Understanding the search intent of the readers and keeping them hooked with the right strategies are the core components of a well-running blog. Making substantial income from your blogs doesn’t have to take years.
With increased internet consumption, these 6 online businesses present a great opportunity for long-term profitability. Whatever business you choose, stay persistent, deliver useful information and build your audience.