How to Make Extra Money Online

Posted 2 years ago by Max Komonov

There are millions of ways to make money. Determining how to make extra money online is no different. However, it can be easy for people to get discouraged when considering all of the options and outlets at their disposal. What many people don’t realize is that there is an easy, streamlined way to make extra money online. So, don’t get discouraged! Making money online isn’t some daunting task, it’s exciting!

All of that being said, there are a few key things to consider and have in place. Do so prior to venturing into the digital world with your product.

First, you’ll want to determine what your product is.
Next, you’ll want to figure out the best way to market your product. Networking and understanding your target demographic are both major keys to success.
You’ll also want to monitor and track your success through data analytics.
Finally, you’ll need a simplified way to make transactions, sell, and ship your product once it has garnered interest.

This may seem like a lot to take in, but the steps toward making money online are as simple as they come with Ecwid. Before diving right into the digital realm, let’s go over the vital aforementioned steps. Make your online endeavors lucrative and memorable! Finding out how to make money online from home will feel simple as ever once you have the right steps in place.

Let’s get started.

What Is Your Product?

First and foremost, you’ll want to know what it is that you’re selling.

Decide what you’re selling and in what quantities.

Then, determining a marketing and selling strategy becomes that much easier.

How should it be sold?

For instance, if you’re selling knives, you may want to consider what quantities they will be sold in, who they will be sold to, and how they will be sold. Another example is taking miscellaneous products and items from around the house and selling them. This may take a separate marketing strategy for each item, given their distinct features and applications.

Who will want it?

Ultimately, determining your product, who it will be sold to, and in what quantities, will help you make key decisions. Namely, you’ll figure out how extensive your strategy needs to be and which markets you should target. Truly understanding your product and its applications will help you determine who needs it.

So, how to make extra money online is pretty simple. Just recognize how and where to market your product, and effectuate it.

How to Market a Product?

We’re all familiar with the wide array of platforms spread across the digital landscapes. The trick for determining how to make money online ultimately boils down to knowing who you’re selling to.

Social media & demographics

For example, TikTok is wildly popular with teens. With this in mind, this may be the ideal place to market acne creams/lotions, makeup, face scrubs, jewelry—you name it.

Facebook, on the other hand, has grown increasingly popular with Baby Boomers and Generation X. Knowing this, the Facebook Marketplace may be your best option for selling grills, cooking materials, vacuum cleaners, televisions, etc.

Know your demographic, and understand which one is most likely to receive your message on each platform. This is critical to success when trying to make extra money online.

Social media & ads

Many people may not comprehend how and why users can be so quick to purchase things online. This is especially true on platforms like Facebook, Instagram, and TikTok. In a nutshell, it all begins and ends with fresh, original, quality content. We all have our favorite accounts, reels, and pages.

But, have you considered how that affects the ads and products you see? Ads are often catered to you when scrolling through your feed or in the shops.

Social media & generations

Consider the difference in generations across each platform and consider what they like. Once you have that figured out, it can be easy to determine why a 50-year-old grill master who likes all posts from Food Network is getting ads for barbecue sauce. Once you understand how demographics operate in regards to their interactions with content, selling to them becomes that much easier!

However, what’s even more important is doing your due diligence prior to executing any marketing strategy. In order for any marketing strategy to be successful, it has to be carefully thought-out and articulated. It’s not something you just dive into blindly.

What’s next?

Developing a solid marketing strategy begins with networking, scanning pages and accounts, and even asking yourself about how and why you see the ads that you are targeted for on your page. By networking and scanning social media, you can better reach your target demographic. In reality, it really isn’t rocket science: it just takes some getting used to!

Is Networking Important?

Yes, yes, and yes some more. Understanding the tendencies of users within your target demographic is key to developing a solid marketing strategy. You can build an understanding of your target demographic by simply scanning through different users’ feeds and looking at their posts.

Determining how your demographic responds to certain content is key to creating the backbone of your marketing strategy and ads: the content! Network and scan social media platforms for prevalent demographics. Then, utilize various contacts and outlets that you have at your disposal. By doing so, you can craft relatable and relevant content.

In essence, networking and doing your due diligence is the most important facet of crafting a good marketing strategy with solid content. For instance, if you know that Facebook is home to older generations, you probably won’t want to advertise hoverboards or homemade PC gaming setups there. Understanding which platform hosts the majority of your target demographic is best accomplished through research, scanning, and networking.

How Do I Track Analytics?

Social media platforms make tracking analytics easy. On personal accounts, one can see the amount of viewers per post, likes per post, who likes it, or how often someone has viewed it. Data analytics don’t get any easier than that. What’s more, platforms like Instagram have business profile settings available. This account preference allows users to track and measure all metrics and data in order to see how well posts, ads, and video content are performing on the platform.

Let’s face it, no one wants their ad or video reported as irrelevant or spam. The trick is to target those who like similar posts and follow similar accounts. With the metrics offered by a business profile, one can even see how often one user returns to a post. This implies that they would like to purchase or at least learn more about the product included in the post.

Google also offers analytics, as well as a variety of other businesses.

Where Can I Sell My Product?

First, consider how much easier it would be to make extra money online without doing it alone. Ecwid offers all of the services necessary in order to market, track, sell, and ship products. Don’t mull over social media, develop a marketing strategy, or spend hours on end tracking analytics. Let Ecwid do it for you! We let users sell as long as they want for free!

With Ecwid, users can sell from anywhere at any time. Your Ecwid store can easily sync across websites, social media, marketplaces, and even in-person. Those wondering how to make extra money online without paying anything will love Ecwid. Users can grow faster through ads by Ecwid, or manage simply from a single dashboard. And, you can benefit from 24/7 live support that handles all questions and concerns.

About The Author

Max has been working in the ecommerce industry for the last six years helping brands to establish and level-up content marketing and SEO. Despite that, he has experience with entrepreneurship. He is a fiction writer in his free time.