Last Updated on September 29, 2020
People are significantly impacted due to COVID-19 and day-to-day life has been affected.
There is hardly any country unaffected by COVID-19. Lockdown and impacts of coronavirus made many people’s cash inflow difficult. Even the biggest companies are experiencing huge challenges.
The most affected people are associated with the brick-mortar shop & small businesses. Millions of people are out of work and the entire world is talking about an economic slowdown.
The next several months or even a year is going to be crucial for every job and business. Due to this pandemic, it’s more relevant than ever to have either a passive source of income with part-time business and later make it full-time.
The Internet is taking a large part of our lives. For those who are looking to start an online business, it can be highly affordable and easy to get started.
If you’re looking to earn money online, you have landed on the right page.
Popular ways to make money online
There are literally thousands of ways to earn money online. Here is an overview of some of the popular ways that can also increase your cash inflow.
It wouldn’t be wrong if I say, affiliate marketing is the best way to earn money online especially if you’re starting. It’s a way to enhance your income with the minimum business operation.
We are going to briefly discuss affiliate marketing and one unique business model. But first, let’s see “What is affiliate marketing? And how does it work?
It’s a process in which, Affiliate marketer (you) promotes the products or services of the merchant (e-commerce store), and on a successful purchase by the customer, the Merchant will pay an affiliate commission to an affiliate marketer (you).?
So, basically, the affiliate marketer promotes the products in a “link” format via different channels like blog websites, YouTube, etc., drive traffic to the merchant’s website, and bring sales.
Dropshipping is a method for online e-commerce stores to sell products to consumers, Stores pass the sales order to suppliers, and they ship the order to customers. Online stores don’t need to take care of the inventory.
If you’re passionate about some topics or expert in any niche or even gaming, you can start your YouTube channel.
However, It takes time to gain viewers & subscribers, but it’s not that difficult to reach your audience if you create engaging video content & work on proper strategies to reach a potential audience. You can then monetize and start earning.
Blogging is all about writing highly engaging content or articles, You can apply to get Google Adsense approval and start earning.
It’s not that easy to get traffic on your blog. Ranking on top SERPs is the next crucial step for a blog website. However, there are many successful bloggers earning thousands of dollars every month.
Recently, online courses and teaching became really popular. The name itself says that it’s about selling courses online.
Cooking, photography tutorials, marketing, coding, development, business courses, etc. are very popular niches for online courses. PDF files, videos, documents, PPTs are the types of medium to share the content in your courses.
You can join platforms like Coursera, Udemy, and start selling your courses. Remember that Quality and helpful information are the only hacks for online courses business.
Apart from all these businesses, you can start freelancing, T-shirt design and selling, influence marketing, web development, PPC campaign management, virtual assistance, E-book selling, etc.
The business I am so excited about is affiliate marketing and a unique model that most are not aware of.
This affiliate business model just needs an initial setup and then with the minimal necessary operation, you’re ready to earn passive income. You do not rely on daily tasks.
Yes, I am talking about the Cashback coupon affiliate business model.
There are a number of ways to make money with affiliate marketing but the Cashback business is fully automated, scalable, and you can kick start a cashback business with minimum affordable investment.
One of the best things about cashback business is anyone without technical or coding knowledge can readily launch your business. Also, not many people know how to actually start a cashback website and have low competition.
Let’s get started with…
Cashback Business Model
Cashback earning, deals, coupon codes, offers websites are booming across the world, especially in India. Because of its uniqueness and highly lucrative benefits, the cashback coupon website creates a win-win situation for all involved stakeholders.
Cashback Coupon business works on an affiliate model. Cashback coupon websites import the offers, deals, cashback, coupons of different products & services from numbers of merchants.
The merchants are nothing but e-commerce stores websites like Amazon, Flipkart, Paytm, Walmart, eBay, etc. which take care of inventory and shipping. In this modern era, millions of people shop online. People love such extra cashback coupons, offering advantages to save money.
People tend to visit such a cashback coupon website & they click on the offers. Once, they click on the link or offer, they will be redirected to the e-commerce store website.
If the customer purchases a particular product successfully, the merchant gives an affiliate commission to the cashback website owner for driving sales to merchants.
Let’s understand it with a personal approach and step-by-step with a graph.
Development of Cashback Website
First of all, it starts with the development of a cashback coupon website/Mobile app. If you have enough cash back, affiliate, and coding knowledge, you can start creating your own cashback website. or you can hire a cashback development company having deep affiliate industry knowledge, understand your requirement and budget, and provide the best scalable cashback solution for you.
Association with Affiliate networks
Once the cashback website is ready, you need to sign-up for different affiliate networks and join their affiliate programs.
There are thousands of merchants and e-commerce stores working with different affiliate networks and some of them have their own affiliate program. For example, the Amazon affiliate program.
Cashback websites create an opportunity for you to earn a commission from every affiliate network.
Import offers and deals on your website
As you get approved to promote products, you can import offers, deals, coupons on your website.
As I mentioned above there are thousands of merchants and it’s so tough to list thousands of products manually from different merchants.
Therefore, there are some Coupon API available that import coupons and offers automatically & reduce manual involvement. Here is the chance to make your business on auto-pilot mode.
There is no business without marketing efforts. Directly or indirectly, the website needs marketing strategies and necessary operations to appear in front of people’s eyes.
Marketing is one of the main tasks after website implementation. SEO of your website to be ranked on top SERPs or spread the word about your business can be initial steps for your marketing strategies. Either way, your approach should be to know what your customer needs.
Here are the best guide & marketing strategies for cashback coupon websites that every cashback business should know.
Customer Visits the Website
Once a customer visits your website half of your job is done. The next target should be to make them visit again and that only fulfills if they get a better shopping experience.
Some things you should keep in mind are:
- Good website design and loading time.
- Easy to navigate & user friendly experience.
- List of Category wise offers, browse feature & Engaging content.
If you want your customers to visit you again and enhance the shopping experience, the above things are a must for any cashback business.
Redirect to Merchant’s website
Once your customers click on the offers at your website, they will be automatically redirected to the merchant’s website and your job is done.
If the customer successfully purchases the product or service at the merchant’s website with your affiliate link, you will earn a decided affiliate commission as profit.
This whole process manages automatically so don’t worry.
Different products have different commission rates, but you can request for more affiliate commission after you start continuously driving sales and in most cases, the merchant agrees for a high commission rate.
Even in major cases if the customer doesn’t purchase the product at click time and later (within the cookie period) buys the same product or another product, you’re eligible to earn an affiliate commission. That’s awesome.
Pass extra cashback to customers
To make your customers happier and make them loyal, you can pass the extra cashback other than the merchant’s offer from your earned commission.
Customers feel they have 2x benefits and they remember your website when they shop online again. That means repeat customers.
Top business worth a few million dollars
There are many big giants owning cashback businesses generating million dollars each year and the number increases year by year.
The E-commerce industry and cashback business expansion are the success behind this big achievement. Of course, hard work and the right approach come first.
Here is the list of some top cashback brands.
- Rakuten Rewards (Ebates)
How to start the cashback business
Starting a cashback website might be a big challenge for those who are not aware of affiliate industry knowledge or how it exactly works. Even though I explained a cashback business model above.
If you have a little deep inside into the affiliate cashback industry, you can purchase a domain, set up your website, and follow the business model to get started.
But if not, I would highly suggest a look for a cashback development company and take the expert guide from them to build your business from scratch.
EnactSoft is a global company specializing in pre-made business solutions for the affiliate business. They perform extensive market research to develop a robust, scalable, and SEO friendly cashback solution so that you can readily launch your business without much hassle.
EnactSoft is providing a different solution than most others. They highly prioritize having a unique and fully automated solution so you can focus more on other business operations.
Even EnactSoft has a highly skilled expert team that can help you with marketing and promotion strategies. Affordable price & 24/7 support is the best they offer. I can assure you the best business setup you can have from EnactSoft.
For more information and a detailed guide visit their website.
Earning money passively with any business isn’t that easy but in this modern and online world, there are so many opportunities than before so if not now then when?
Especially business like cashback coupons is easy to start, have low competition & highly sustainable. Alone in India, the Cashback business is expected to grow more than Rs. 500 crores in 2020.
Not to forget, any business needs patience and hard work, so don’t expect to be a millionaire overnight. Strive for the long and sustained run.
I wish you a safe, healthy, and wealthy journey.