Bill Gates was once quoted saying that if you are not taking part in the digital economy, then you will be out of business. This cannot be further from the truth. With the digitization of the world, online business is arguably the best option for any budding entrepreneur to start his or her business. But who can guarantee that your idea will become one of the most profitable online businesses?
Today, many online businesses are flourishing and the trend is expected to continue beyond this decade. One of the reasons why online business appeals entrepreneurs is because it offers a massive leverage. It requires little to no cost to start, and it allows anyone to target a global audience. Here are the top most profitable online businesses today.
10 Most Profitable Online Businesses That Won’t Cost a Fortune to Build
1. Affiliate Marketing
If you are the type of person who loves to leave reviews on online stores such as Amazon, then you have the opportunity to earn money from it rather than continuing doing it for free. Many companies know that word-of-mouth advertising or recommendation is still a huge customer generator.
It is one of the most profitable online businesses because most companies are willing to share a significant portion of profit with businesses or individuals who can promote their products. The most interesting thing is that you can partner with some of the biggest brands without investing much.
2. Social Media Consultancy
While larger companies can hire skilled full-time staff or marketing agency to manage their social media accounts, most small business owners handle this task themselves.
Most of these individuals are already busy working on different facets of their businesses. Some are uneducated on the importance of social media. So, as a consultant, you can advise this category of clients on the best strategies for engaging with their target audience.
3. Web Design
Though web design has been around for quite a while, the market is not saturated yet. With many people turning to blogging and many businesses going online, web design will continue to be in demand.
The best thing about it is that you don’t have to be skilled in design or technical stuff. Having artistic talent and good programming skills is a big plus. But you can still start if you know how to master web design software which is largely available online.
4. Blogging & Blog Flipping
If you have a burning interest in a specific subject, then you can start a blog around it. It is one of the fastest and most profitable online businesses in modern times. The best thing is that it is an information-based model. So, you would have to worry about the technicalities such as programming.
Blogging allows you to generate income through multiple avenues such as adverts, affiliate commission or selling your products. If you are good at it, you can even consider blog flipping. On top of this, you don’t have to invest a lot. But you shouldn’t also choose for free options such as blogger or free version of WordPress.
5. SEO Optimization Consultancy
Many businesses fight to rank higher on the search engine. Customers expect to find these businesses online, and that is not optional. According to Small Business Administration (SBA), a business which cannot be found online could be losing more money to competitors. So, with so much stake, many businesses understand that they cannot continue to leave it to chance.
That is why the importance of SEO optimization is always on the upwards trend. But SEO is a field that is getting more complex each day. So, if you have exceptional skills on this area, you have a huge number of customers, especially small businesses, who haven’t realized the importance of SEO.
6. Virtual Concierge
One of the most profitable online businesses that have been gaining momentum of late is virtual concierge. A virtual concierge or virtual assistant would do most of the things that in-person concierge would do such as:
- Sending cards;
- Planning events;
- Making travel arrangements;
- Managing emails;
- Other related duties only that a virtual concierge serve multiple industries and customers.
Nowadays, content marketing plays an important role in digital marketing campaigns. With this in mind, a majority companies are hiring copywriters to produce content for their marketing needs.
Most of these businesses are looking for someone who will generate content that:
- Engages their audience;
- Possibly increase subscription and conversion rates.
So, if you have good copywriting skills or if you have willing to learn then there is a huge earning potential.
8. App Development
Android phones have a monopoly on the smartphone market, and it seems it is unlikely to get any worthy competitor soon. What is even interesting is that a majority of businesses targeting local consumers are increasingly turning to mobile for promotion. So, app development will continue to be relevant for the next couple of years.
The only downside is that it requires specialized skills which sometimes don’t come easily. But if you are creative and patient enough to learn to program and the tricks of business, you have higher chances of reaping its full potential.
9. Content Writing
Generally, online content writing is one of the most profitable online businesses. You can also get paid to generate content for blogs and websites. Experienced writers charge good prices to produce guest posts for blog masters who lack time to create their own content.
If you have passion but lack something to show, you can start guest blogging for Huffington Post and other respected outlets to build social proof.
10. Video Editing
Going by the trend, video editors will continue to be significant players in the online marketing space. By 2019, about 90% of all internet traffic will be channeled to video. The problem is that there are a lot of annoying videos being distributed online today.
If you can master how to produce high-quality videos using programs such as Adobe Premiere, Final Cut or Avid, you can start a profitable video editing business.
To the Top
While the internet presents is one of the best platforms to start your business, if you don’t have a good business idea you will fail to get the most out of it. With this in mind, we hope you have identified the best business opportunity for you from the above list of the most profitable online businesses.
Do you have a viable online business opportunity that people would love but has not been mentioned above? If you do, please let us know in the comments section. And, if you like this post, please share with your social media friends.