10 Ways to Make Money from Online Business

Even though it looks easy, in practice there are many online businesses that can only last in a matter of weeks. Why is that? The reason is that there are many things, from being unable to compete with other online businesses, lack of capital, to not selling goods in the market. in order for your business to be successful make sure you determine your market first, for more information visit the official website here 3 days master class

1. Do Research

The first way to make money is to do research first. Usually some online business people easily get carried away with trends and like to just join in without doing research first. Try to pay attention to the people around you, what products will sell if you sell them to them. Why should people around first? Because they are the first to know and become the target of your sales later. If necessary, you can make an online questionnaire and share it with them. The contents of the questionnaire can be in the form of product choices and their selling price range.

2. Determine Products Appropriate Market Segmentation

After doing your research, you can decide which products to sell later. Products that are sold may be the latest trending products, but don’t forget to add something unique so that your product is noticed by the public. For example, by making the packaging more attractive. The determination of this product must also be adjusted to the market segmentation that you are aiming for. So if your target is the millennial generation, then the products and packaging must be made more appropriate.

3. Calculate the Initial Capital Carefully

Next is to calculate how much initial capital is needed to open an online business. The first capital is definitely gadgets and internet networks. If you sell goods from other people, the capital spent is not large. But if you want to sell your own product, then carefully calculate your production costs, raw material costs, and operational costs. Making your own product does require a lot of money and time, but your online business has its own characteristics that make it unique and different, so you get a lot of attention.

4. Create a Blog and Monetize

Who says online businesses don’t need a blog. The purpose of creating a blog is so that you can market your products through Google Search. Besides that, with a blog, you can also monetize your blog by joining GoogleAdsense. Google Adsense is an online advertising program owned by Google. Later Google will put ads on your online store blog. Take it easy, you will get commission money from the ad.

5. Take advantage of Social Media

The name is also an online business, inevitably you have to take advantage of social media as a means of promotion and free marketing. What social media can be used? Currently, there are two social media suitable for promotion and marketing of online businesses, namely Facebook and Instagram. Although both are social media, the marketing methods used must be different.

For Facebook, you can explain in detail about the merchandise that you post. As for Instagram, try to use high resolution photos and take them in a neat way to make them more attractive because Instagram media shows more visuals than words.

6. Selling on the Marketplace

Selling on social media is not enough because the scope is just that. If you want to reach all Indonesians, then you have to sell in marketplaces such as Shopee, Tokopedia, Bukalapak, Lazada, and so on. This method of getting money is considered very effective because your merchandise will be marketed by the marketplace throughout Indonesia.

But remember, there is commission money that you have to pay when selling on the marketplace. The amount depends on the policies of each marketplace you are aiming for. Usually the average requires 10% to 20% of the selling price of goods.

7. Apply Affiliate Marketing

The next way to make money is by implementing affiliate marketing. For those of you who don’t know what affiliate marketing is. Affiliate marketing is a recommendation business, which means that you will recommend a product or jada to others through the blog that you create. Later if they buy the product or service from the link that you place on the blog, then you will get a commission.

8. Learn How to Digital Marketing

Learning how digital marketing is one way to make money from an online business. By studying digital marketing, you can make the goods or services that you sell known to many people, which time right for uploading posts of your merchandise on social media, as well as keywords that should be used when posting so that more people see your merchandise. Also understand SEO (Search Engine Optimaze) so you can more smoothly market your products online.

9. Always Develop Products

Online business competition is very tight, so those of you who are going to dive into it must always innovate and be creative to develop and create new products that can be liked by the community. You can also innovate from existing products or add new products. At least every month, always provide new products so that customers don’t get bored.

10. Manage Financial Management Well

In running an online business, you must be able to manage finances well. The reason is that most of the online business people whose businesses do not go according to plan or even go bankrupt just because of very bad financial management. Usually the money from sales is mixed with personal money so that it is used for purposes outside the online business. It’s safe, separate personal accounts with accounts for online business so you can more easily manage them.

When just opening, always make detailed financial reports once a week for at least 3-6 months. Later, when the business has started, you can make a report once a month.