How to make money online, top 8 Online Business Ideas that can you rich in Nigeria, become an online entrepreneurer.
How To Make Money Online, Top 8 Online Business Ideas
You are missing out if you are not making money online because making money online is cool, fun and interesting. Trust me, I enjoy every moment working online and am about to share all my experiences with you.
It's very easy to make money online but millions of Nigerians still ask questions like,
- How can I make money online in Nigeria?
- What are the top 10 online businesses?
- How do I start an online business from home?
- What is the best online business?
In this article, I have combined the top 8 lucrative online business ideas that will surely pay you in Nigeria and can also make you rich.
1. Blogging
Each time I talk about how to make money online, Blogging is the first thing I recommend. WHY? Because you will be the boss controlling everything online, including how you want to make your money.
What is Blogging?
Blogging is all about information sharing. It can be politics, entertainment, news, gossip, business, sport, technology, reviews, food, health, insurance. Anything at all! Just share information that people are looking for.
According to Wikipedia A blog is a website that displays postings of articles, images and video by one or more individuals in chronological order and usually has links to comments on specific postings.
If you are well informed about a particular topic and you have interest in it, you can start a blog by creating a site and making money.
How Blog make money
One of the most common ways bloggers make money is through placing advertisement on their site.
There are two popular types of ads
PPC Ads: (pay per click) ads are usually banners that you place in your post content or sidebar. Each time a reader clicks on the ad, you are paid for that click.
CPM Ads: CPM Ads, or “cost per 1,000 impressions,” are ads that pay you a fixed amount of money based on how many people view your ad.
ALSO READ: Create a Blog like BizIQ.ng and Earns $1,000+ Monthly
Google AdSense is the most popular network for placing these types of ads. With this AdSense program from Google, you do not need to be in direct contact with advertisers; you simply place the banner on your site, Google chooses ads relevant to your content, and your viewers click on the ads.
There are countless similar programs available if you find that AdSense doesn’t work for you, such as Chitika, Infolinks, and Media.net.
Other ways to make money with Blogs are;
Sell Private Ads - You can not only depend on other advertising networks like Google AdSense.
If you end up with enough readers, advertisers may come directly to you and ask you to place their ad on your site. You can also contact advertisers yourself.
Include Affiliate Links in Your Content - You can utilize affiliate marketing through ad networks like Amazon Associates, or you can create private partnerships with advertisers and businesses with an affiliate program
Sell Digital Products - If you don't want to advertise other people's product and you want to add another stream of income. Then, you can consider selling your own digital product.
Types of products you can sell on your blog includes
- Music or Video
- eBooks
- Online courses
- Images, video, or music people can use in their own content
- Apps, plugins, or themes and so on.
2. Affiliate Marketing
The next online business idea after Blogging is Affiliate Marketing. This is another lucrative online business that surely pay in Nigeria.
What is Affiliate Marketing
In a simple sentence, Affiliate marketing is all about referring people to buy a product or services for a commission.
The interesting part about Affiliate Marketing is that you do not need to have any product. All you need to do is just recommend products of other people and get paid for your effort.
How affiliate marketing make money
Step one - A company or advertisers have a product they wants to sell. They agree to give you a commission from each sale if the buyer is coming through you.
Step two - They give you a unique link that tracks your affiliate code. That way, they knows when a buyer used your link to make a purchase.
Step three - You include your affiliate link on your site or social media platforms. If a reader clicks on your unique link and buys the product you have recommended, you earn a percentage of what he or she purchased.
Does It sounds so easy and less lucrative? I know, so let me break it down for you in just 45 seconds.
Let us assume you recommend a product (a laptop that worth 50k). And your commission on this particular product is 10% which is 5k.
Then you shared the links through your site, social media platforms including your channels and at the end of a month, 1000 people purchase through your recommended product.
That will be 50,000 x 1000 = 50 million. Your commission will be 10% of 50 million which is 5 million! So in a month you have made 5 million. If the commission was 3% you made 1.5, million. If it was 2% you made 1 million in a month!
Now it sounds cool right? Affiliate Marketing worth billions of dollars both in Nigeria and Africa but the secret is not exposed.
You can utilize affiliate marketing through ad networks like Amazon affiliate, Jumia Affiliate, Konga Affiliate, Commission Junction and more. or you can create private partnerships with advertisers and businesses with an affiliate program.
ALSO READ: How to Make 1.5 Million Importing UK used Laptops to Nigeria
3. YouTube
My list of top 8 lucrative online business are in particular other and the next is making money with YouTube, another interesting way to make money online
What is YouTube?
YouTube is a video sharing service that allows users to watch videos posted by other users and also upload videos of their own.
Have you been on YouTube recently? Am sure you have. Either to watch the latest music video, some comedy skits, football highlight or something interesting.
How YouTube make money
When you upload your own video, you make money on YouTube each time Google shows advertisement before your video or after your video has finished playing.
Create interesting videos, build your audience and you can start making money from it with Google AdSense, Affiliate marketing, sponsorship and much more.
The best part is, you don’t even need to go out and buy an expensive new camera, as long as you have a smartphone with a quality camera lens, you can start filming your first video right now!
Types of videos you can create
You can do a comedy skit, short movies, you can do talk shows or you can do football reviews/previews.
There are so many things you can make videos about. DIY (Do It Yourself), life hacks, games, music, entertainment, news, politics, tutorial, fashion and much more!
ALSO READ: How to Make Millions on YouTube (Complete Guide)
4. Digital Marketing
Digital marketing, online marketing, internet advertising... whatever you call it, it is still the same thing.
What is Digital Marketing
Digital marketing refers to any online marketing efforts or assets. Email marketing, social media marketing and even blogging are all great examples of digital marketing
How to make money as a digital marketer
There is a certain number of ways by which one can earn money through digital marketing such as:
- Social media marketing
- Affiliate marketing
- Mobile marketing
- Email marketing
- Content marketing
- SEO
5. Online Freelancing
Freelancing is another great online business to start if you have a professional skill like graphic, website design, copywriting or translating using voice over and so on.
What is online freelancing
You can work as a full time freelancer or part time if you have spare time and access to the internet at home then you can use your skills to make money freelancing online.
- Graphic Design
- Copywriting
- Website development
- Photography
How much can a freelancer make monthly?
There’s no definite answer to how freelancers get paid or how much you can make as a freelancer. Because it depends on your field of work, the amount of experience you have, and the skills you’ve developed.
Top 5 Websites To Get Freelancing Job
1. People per Hour - Create an appealing profile, look for jobs, send proposals and make a short video promoting your services. It’s all very straightforward with PeoplePerHour.com
2. Fiverr - Sell your services starting at $5, that’s the tagline and it is quite accurate. You can offer basically anything you can think of.
3. iFreelance - iFreelance is a very wide freelance network with categories that include photography, videography, marketing, traditional art, writing, translation, architecture, engineering, graphic design and many more.
4. Guru - Guru.com is a fairly large network that connects companies and freelancers. As stated on the website they are interested in work on “technical, creative or business projects”,
5. Odesk - Set up an account and choose from 75 different job categories and plenty of offers within each category.
6. E-commerce
E-commerce is also known as electronic commerce, it's another online business that can make you rich in Nigeria.
What is E-commerce
E-commerce can be defined as the buying and selling of goods electronically online. Examples of an e-commerce is Amazon, eBay, Jumia and Konga.
You can sell things on the internet and get paid, all you need is a website. Once the site is up and running, you can list the product and start selling it.
As you will grow the traffic, the sales will automatically grow. If you can't afford your own website here is a list of e-commerce websites in Nigeria that you can sell on.
Jumia - You can sell virtually all your forms of products on Jumia. To get started, check-out the Jumia Marketplace website
Konga - Konga also allows small businesses with varieties of products to sell and showcase on their website. Learn more about selling on Konga
V-connect Nigeria - Just like any other e-commerce website in Nigeria, VConnect provides its users with many other services such as logistics and payment facilitation.
Jiji.ng - As a Seller or business owner, you can post free classified ads of your products and services for free on the website and get maximum efficiency in terms of reach and profit.
Top 5 high demand and fast selling products in Nigeria
- Phone and accessories
- Healthy and beauty products
- Travel accessories
- Electronic Goods
- Fashion Items
- Hair Wig And Extensions
7. Instagram Influencer
Good news for Instagram lovers. Do you know you can make huge money from your favorite social media platform? YES! You can make a lot of money on Instagram if you have a huge followers?
What is Instagram Influencer?
Influencers on Instagram are users who get paid to share content on Instagram, building communities around topics and niches. You have to be very popular on Instagram with a lot of followers. The more follower you have, the more money you make on Instagram.
How mush Money Does an Instagram Influencer Make
Instagram Influencers with 50,000 to 80,000 followers get around $200 per post, the price can also be based on the advertiser. Some accounts make deals with brands to post promotional codes on their feed, and every time a new person uses their code, they make a percentage of the sale. Other accounts opt into giveaway deals that purely boost their follower count.
An influencer with 250,000 to 500,000 followers have hit the jackpot of Instagram influencing, with possible earnings averaging at $670.00 per post.
8. Online Course
If you have expertise others may find valuable, you can create a course online and sell it. This used to be very hard, as you had to build your audience from scratch.
But two websites, Udemy and Skillshare, now provide access to an audience of people who are eager to learn about almost everything under the sun.
There are all types of courses available, so it’s a great way to create a legit online job of your own.
How Much Can You Make Selling Courses Online
Want to know how much you can earn from online courses before you make one of your own? Well, it varies widely. Your online course can earn anywhere from a $0 - $50k + per month.
There are lots of factors that will determine how much you can earn by selling online courses. One of the biggest factor is the price of your course. Secondly, the size of your niche and how large of an existing audience you have.
If your course costs $25 only, you will need to sell 2,000 copies to earn $50,000 in a year and if your course costs $250 instead, you will only have to sell 200 copies in comparison.
Also Read: How to make money online selling digital products
Conclusion
The above list are the top 8 lucrative online business that can make you rich in Nigeria. Let me know the one you will like to start or the one you have started already and how I can help you more about it. Comment box is opened below.
COMMENTS