Making Money From Online Business: Is It Possible?

Can You Really Make Money Through an Online Business

A lot of people believe that the best way to build a new stream of income is by starting a business online because it is free, you don’t need previous experience, and make a lot of money from the comfort of your home.

Sadly, when people start an online business they realize that everything is true except the money-making part. They find it extremely difficult to sell their products. And when they don’t see any sales for months, they give up.

Before you start your online business you need to know a couple of things, which you don’t hear much from the online gurus who teach how to make money online.

You need money to start a business

A lot of platforms are free to use but this does not mean you can build your business easily. You will have to spend money to create products (for instance, might have to buy a design, hire an editor, etc.) and market your product (for example, running ads).

You need to be an expert

Yes, you can start your business without prior knowledge and experience, however, generating sales requires expert-level knowledge. You need to be an expert in SEO, digital marketing, and of course creating products.

3 Different Methods to Build Your Online Business For Free

If you want to start an online business but do not have any money to invest in your business, here are 3 businesses you can build for free:

Dropshipping: You sell products from your store but the product is actually fulfilled by the supplier.

Print-On-Demand: You design products and create product mock-ups, when the product is sold the marketplace will fulfill your order and you earn money.

Digital Downloads: You create digital products and list them for sale on the digital marketplace, you earn per download.

How to Generate Revenue For Your Online Business

Generating revenue for your online business is not very difficult if you know what you need to do. Here are two proven strategies to generate revenue.

Upcoming Holiday and Trend Elements

In this sales tactic, you are basically pairing two different sales tactics to generate sales for your products. Upcoming holiday means the festivals or seasons that are anon, for example, it’s November and your target for Christmas sales. A trend means the products that are trending on the various ecommerce marketplaces as well as trending on the marketplace where you are selling. What you will have to do is use tags and keywords that reflect holidays and trends on your product listing. You will also have to use high search volume keywords to build traffic.

Valuable Product

One of the reasons why people might not be buying your products is your products are not valuable. If your offer is not irresistible, people are not really buying your product. People will consider your product to be valuable and end up buying only when your product solves their problem and has a lot of benefits to offer.

However, one thing you need to remember these tactics are not magic pills and you don’t become successful overnight. You need to have patience.

How to Improve Conversions on Your Online Store

Sometimes you will find that a lot of people are clicking on your products but they are not buying.

In order to improve conversion, you will have to level up the listing. What does leveling up your listing actually mean? It means you improve SEO on your listing. People not buying your product means your product is not being shown to the right audience. In order to reach your target audience, you will have to improve your SEO.

You will also have to use a captivating product photo. How your product appears in the photo is very important for improving conversions.

You can also improve conversions if you are giving your customers options such as combo offers, discounts, customization, free shipping, variations (colors, size), etc.

Price also matters when it comes to improving conversions. Before a buyer decides to make a purchase, he will be checking a lot of products and make comparisons, including the price. Therefore, you will always have to keep your price lower than your competitor even by a few cents. Don’t keep the price too low because people tend to believe that your product could be useless.

If you have just started out, or if your product is a recent addition, you can offer an introductory price (lower price). The introductory price will help generate sales. Once there are sales, you can set a regular price.