How to Make Money Online
Have your own business and work doing what you love, are among the main reasons why more and more people seek to discover how to make money online.
How to make money online: Bet on eLearning
If you want to know how to make money online working with what you like and, preferably, in the comfort of your home, we have a great suggestion: invest in online courses.
Why this solution is great? Well, we can list a few reasons:
1 – Market in broad expansion
According to a Docebo report, it is estimated that the online courses market will profit about 165 billion dollars next year and, by 2023, will likely grow about 5%, more than 240 billion dollars worldwide.
In Brazil the numbers also indicate continued growth, since the distance education is still most popular in countries undergoing political and economic crises, which access to traditional education is more difficult and costly.
2 – Own business
There are two ways to use online courses as means of making money.
The first is devoting time to create and sell your course.
If you enjoy teaching, this is the perfect option to decide how to make money online.
3 – Professional training
Another way to make money is by acquiring new knowledge and skills and become a more desired professional.
Online courses are the best option for those who want to learn with time flexibility and without spending with high fees.
There are several quality courses available on the internet that even deliver certification.
Today, the answer to the question “how to make money online?” is closely linked to the effort you are willing to employ because with the internet, all the possibilities are at your fingertips.
How to make money online: Can I turn my work into an online venture?
If you decide to create your online course, know that it is not necessary to abandon your regular job.
Depending on what your goals are, there are some options to consider:
- Working exclusively with a product/service online;
- Having an online and offline business at the same time;
- Slowly transitioning your work offline to online.
Before you decide, consider what you already have, what you want to do, and what would be the most solid and secure option at the time.
To give an example, in Coursify.me we have a success story about how to make money online leveraging the best of both worlds.
Case: Professor Felipe Oberg
Professor Felipe Oberg, a Portuguese teacher, decided to use Coursify.me to place online lessons and disposal support materials for his students while using it also as a dissemination channel for his regular classes. Check out:
Absolute success, with hundreds of subscribers, his method can be described in a simple step by step:
- Record your lessons;
- Invite your classroom students to access the online classes;
- Provide extra material for those who are already students as means to study in home;
- Use the online course to sell subscriptions to regular classes;
- Put new content gradually on the eLearning platform.
Notice that he began using material that he already owned and disclosing for those who were already his clients.
Much of the current disclosure statement is made by the students themselves and the business continues to grow.
Take a few hours a day to develop a plan of what you will teach and how this will be done.
Remember that to teach something you need to know a lot about it, then choose a topic related to your field of work and study hard.
Then choose the format of your course (videos, handouts, tutorials, etc) and host it on a LMS (Learning Management System), as Coursify.me.
Remember, decide your goal is the first step to give birth to your online business.
How to make money online: How to know if my course has a market
Before starting to invest and create your course, is indicated to do a market survey to assess whether there is demand and potential audience to consume your product.
The good news is that thanks to technology, there are several simple and free tools on the internet to help validate your idea.
The first step is research the existence of courses that address the same subject or similar, and if there are a considerable number of people who show interest on it.
This is very important because despite competition seem daunting, their existence indicates that there is a market interested in what you have to offer.
So if you want to know how to make money online and if this will be possible with your business idea, see three search channels that can give you more confidence:
- Google: do a search for keywords and phrases related to the theme of your course. Notice how relevant your idea is for search engines, if there is competition, paid advertisements and other factors indicating that there is someone spending money on it.
- BuzzSumo: this is a powerful SEO tool that evaluates the shares on social networks like Facebook, Twitter, Linkedin, Pinterest and Google+. These results provide a good idea of how popular a topic is, what commitment it has and how your competition is doing.
- Amazon: through the Amazon search engine you can find out if there are books on the subject you want to address and if they sell well. If you see several results related, and if any of them are on the Bestseller list, this is a good indication that you are on the right track.
Simple as it is, this market research is quite effective to help validate your idea before finally start creating your course.
How to make money online: Commercial strategies
Who wants to know how to make money online need to understand a little about business strategies.
There are several effective methods to attract leads, assist in the conversion process, relationship and customer loyalty.
It all starts with drawing a profile of your target audience, understanding their needs and desires.
This is necessary to know how to present your product and also to give you a clear idea of what solutions you can offer to solve their problems.
First, it is important to understand that your customers are different people that may have the most varied reasons to get your course.
This variation of profile and needs is the reason why many professionals offer more than one price option.
Keep in mind that some people will make your course just as a hobby, others to enhance their curriculum and companies may also be interested in your material as a way to empower employees.
Each one of this profiles have an idea of how much they want, can and think they should spend, so different prices are an effective option to close the deal.
The ideal solution is provide three price options, because by having two values available, the client usually opts for the cheaper one. But when included an intermediate value, this becomes much more attractive.
But here comes the question: What can I offer to justify the difference in values?
Here are some options:
Many people do not mind paying a little more to get extra help. Offer an hour daily or weekly to give online support.
Set an appointment with your student and remember that the longer you are available to give these extra classes, more money you can make.
If you intend to publish new content regularly, you are on track to earn more.
You can provide access to all your contents for a month, a year or even indefinitely. This is the case of sell subscriptions, rather than the entire course at one time. A lucrative method of keeping customers always active.
All extra material that can assist learning, such as eBooks, videos, presentations, among others, can be sold for a price a part.
As we pointed out earlier, methods that generate better results for your client are the ideal way to profit more.
Use your creativity to capture the interest of your audience and create strategies that reflect positively to your pocket.
How to make money online: Selling models
Now that you know how to make money online by analyzing your audience and creating options that meet their different needs, you have to understand a little bit more about sales models and how to price and offer your course.
Currently, companies and professionals are opting for two format types: subscription or one time sale.
Sale by subscription
Ideal for those who will produce a lot of content on a specific niche, in this model you offer the student free access to all your stuff, allowing him to do all the classes he wants, as often he wants, on payment of tuition.
Adopted by large companies such as Netflix, Spotify and Apple, the big advantage is that you sell once and keep profiting recurrently.
In addition, this model is hardly shaken by an economic crisis, since the fee is usually low and the person acquires the habit of paying that monthly fee for the service.
One time sale
Suitable for those who want to create content on different subjects and that do not necessarily need to be consumed together.
This option allows the instructor to create different packages, letting the student to decide what best suits his needs.
If you are English teacher, for example, you can sell separately lessons on grammar, literature and text production. The student purchase only what is of his interest.
Thus, we conclude that the answer to “how to make money online?” it’s wide and depends only on you to make it happen.
To ensure the success of your online course, count on the Coursify.me to create, promote and sell your content.
Complete elearning platform (LMS), the Coursify.me is already used by over 450 users and serves businesses and professionals in more than 60 countries.
Visit our website, test and find out how to make money online easily with your course on the internet.