Best Online Markets and Niches Ripe for Investment in 2020
The Internet is like a level playfield. Everyone has an opportunity to start a business and turn it into a global brand. Or you could offer a service and become a renowned expert regardless of where in the world you reside.
But hold on for a moment. Not everyone succeeds in investing online, and that means something. Your idea, capital, skills and teammates can play a significant role in helping you triumph.
In this article, we look at the best ideas to start an online business in 2020 and what you need to make them succeed.
Affiliate Marketing
Affiliate marketing never gets old as an investment idea. For the uninitiated, it involves partnering with e-Commerce store like Amazon, subscription services like Netflix or manufacturers like Nike.
Your business as an affiliate marketer is to promote products from these companies. In return, you earn commissions for each new customer you bring. Some brands pay you 1% to 10% for each sale whereas others pay up to 80%.
In case you are wondering, below are some of the best paying affiliate programs:
- Click funnels—40%
Click Funnel provides a landing page for website owners.You can make recurring commissions thanks to their monthly subscription prices.
- Hammacher Schlemmer—8%
They are an American manufacturer that makes expensive recreation items such as a $58,000 Golf Hovercraft.
- Hubspot—up to $1,000 per sale
Hubspot is a one-stop-shop of online marketing tools. They are one of the best companies in what they do, but their products are also expensive.
- Kinsta—up to $500 plus 10% per month
Kinsta is a web hosting company that pays you $50 to $500 per new customer. Additionally, they pay you 10% for what your referrals pay each month.
- Shopify—up to $2000
Shopify is an e-Commerce hosting provider known for encouraging people to start drop-shipping businesses. They pay $58 for basic commissions and up to $2000 for Shopify Plus sales.
Online Gaming
Affiliate marketing involves promoting products and companies you dislike at times. If you love gaming, though, you don’t have to worry about doing something you hate to earn an income.
The online gaming niche in 2020 is broad, so you have to decide where you want to specialize. For example, you could become a Twitch streamer and make money showcasing your gaming skills.
Or you could become a casino player and play poker or blackjack professionally. Better yet, you could gamble at casinos and stream about it on Twitch. That way, you make money on both ends.
So, why not become a casino streamer? Getting started is easy and cheap. Of course, it’s easier said than done. But it’s one of several ways to maximize your profits as a gamer.
Start a Niche eCommerce Store
We all wish we could run an e-commerce giant such as Amazon. In reality, though, the best idea for an online shop in 2020 is one that specializes in a specific range of products. More importantly, you need a niche with low competition but high demand.
Take re-commerce as an example. It’s a broad genre that describes used products. However, you can narrow down to used iPhones, sneakers or baby clothes. As mentioned, research to learn which specific niche is on demand.
You also need a platform for your online shop. Precisely, you need a website builder such as WordPress, Shopify or WooCommerce. You then need a plan of how to run your business.
For starters, you could find capital and purchase items you want to sell in advance. Alternatively, you start a drop-shipping business through which you only buy stock once someone makes an order.
Invest in Forex, Stocks and Bonds
Financial investments require a great deal of research, time commitment and capital. Of course, that is if you don’t want to pay professionals for consultations or to invest on your behalf.
The best part about financial investments is that you can invest as little as you have. What’s more, you can specialize in one discipline and become an expert at it. For example, you could settle on stock and learn how to do it right.
Can you become a millionaire investing in finances? Take a look at Warren Buffet or any of the wall street billionaires. They made their money predicting markets and making proper investments at the right time.
Create a Product and Sell it Online
What’s that one item you built from scratch and people appreciated? Did you build an app? Can you handcraft sweaters? Can you make scented candles? Bingo! That your product.
All you need to do is to carry on some research to find out whether there’s a demand for your product. Then figure out whether the production costs versus the average prices leave you with a decent profit.
If there’s a chance to make money selling something you built, ensure you do it. Who knows? You could turn your idea into a major brand like let’s say…Facebook. It’s a little bit over-ambitious, but it’s worth a try.
The Gig Economy
The gig economy is a preview of how people will be working in the future. It describes doing small jobs on a freelance basis, from writing and web designing to singing and SEO marketing.
The gig business is mushrooming at such a high rate that gig website are worth billions of dollars. More importantly, they have opened up opportunities for millions of people, skilled workers if we may add.
As such, invest in a new skill and find a way to monetize it online. It doesn’t have to be something new, though. There might be a freelancing gig for what you do presently. And that means all you need is to sign up at the right website and get paid to do what you already love to do
The Takeaway
There has never been a better time to invest online. Millions of people have Internet access and use the platform to shop, learn and consume content. It’s also a place where you can invest in things that traditionally required you to leave your house. So, find a niche, research and invest accordingly.
Related Articles
