5 Ways of Making Passive Income Online During Lockdown In 2020

5 Ways of Making Passive Income Online During Lockdown In 2020

5 Ways of Making Passive Income Online During Lockdown In 2020

Economies around the globe have been heavily affected by the Covid 19 crisis. Most companies around the nation are struggling and millions of jobs hang in the balance, leaving millions of employees in a precarious situation, unsure of the future. As the crisis continues to unfold, the loss of jobs is now inevitable. While the fallout from the crisis has amplified the huge loss of jobs, it has also created new forms of employment, especially making passive income online.

Technology’s rapid infiltration into every last fibre and morsel of society has caused a dramatic shift in the way we live, work and entertain ourselves. Thanks to the disruptive nature of the internet, the rate of change has increased exponentially in recent years. And because of such, the way we conduct business has also changed. For instance, due to the COVID 19 epidemic, many consumers are now resorting to online shopping to avoid crowded shopping malls hence creating many business opportunities for online stores such as Take a lot, and affiliate marketers, as well as drop shippers.

In this article, I am going to share with you 5 ways to making passive income online and might help to transform your life in this dire situation.

Affiliate Marketing5 Ways of Making Passive Income Online During Lockdown In 2020

Affiliate marketing is a form of marketing where a business or service provider pays a third party (the referring affiliate) a commission for referring business or leads their way.

The first thing you need is to find a niche of the possible list of products that you can promote that pay an affiliate commission.

Not all companies are great at advertising or are prepared to invest millions in creating commercials hence instead they provide Affiliate links

So the second step is to find companies that have affiliate programs and this is done by searching them online by their name and the word affiliate or referral. If the company themselves don’t have an affiliate program there are many platforms that sell other people’s products (Like Alibaba or Amazon) that do have affiliate programs.

Once you have found the products and companies to promote, the process of applying to become an affiliate is quite simple and once approved, you’re good to go. Although the process of starting up is quite simply the most difficult part is marketing hence you need to extensively sharpen social media skills and take advantage of platforms such as Instagram, YouTube and Facebook.

Dropshipping

Drop stores let you find products, add them to your online store, and ship them directly to your customers easily. No inventory, no risk.5 Ways of Making Passive Income Online During Lockdown In 2020

The first step you need to take is to select a niche that is profitable and also let it be something you are interested in. You need to find a product that is laser-focused. Products that aren’t focused might prove to be difficult in the market. Dropshipping is difficult hence it can be really discouraging if you pick a niche that you are uncomfortable with. The second step is to look for a reliable supplier for the product. Researching on the supplier is of great importance because it reduces the risk of your reputation been tarnished and it ensures the survival of your business.

The 3rd step is to open an E-commerce website. This website can increase your business operations and profits. With the existence of Obrelo and Shopify, you can have a running website within a day.

Utilization of Facebook ad campaigns, E-mail marketing and SEO marketing will be advantageous on your quest for dropshipping success.

Online Tutoring

Because of the COVID 19 epidemic, most universities and schools were forced to shut down across the nation so as to control and avoid the risk of spreading the virus. Public lectures were banned thereby creating business opportunities for online tutors.

One may sign up on websites like Vedantu.com, MyPrivateTutor.com, BharatTutors.com, tutorindia.net as an online tutor by creating a profile, and listing the subjects or classes you want to teach, how much experience you have, and the qualifications that you hold, etc. Some of the platforms offer flexible and convenient working hours..

YouTube5 Ways of Making Passive Income Online During Lockdown In 2020

Every day, five billion YouTube videos are watched around the world. If you are not comfortable in penning down your thoughts through blogs and content writing, you can make use of a camera to create a video presentation. Create your own YouTube channel, upload videos to this channel and start monetizing them. For an individual to be successful they need to choose niche they are comfortable with and which appeals to some people. You need to make sure it’s a topic that will interest a lot of people to ensure that you get decent views Everything from cooking shows to political debates can find many takers on YouTube.

Freelancing5 Ways of Making Passive Income Online During Lockdown In 2020

Freelancing has always been a popular way to earn money online and the Internet has several options. There are several websites offering freelance tasks for people with varying skills. All you need to do is to create an account, browse through the listings, and apply for the task that suits you. Some websites may even require you to create a personal listing with the details of your skillset, so that interested clients can contact you directly. Some of the popular freelancing websites include Fiverr.com, upwork.com, and freelancer.com.

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