If anything, we can only thank 2023 for the lessons and welcome 2024 with experience and different understanding, especially when it comes to business.
Talking of experience, here are online businesses that will still be profitable in 2024.
I mean, if there is one thing I have learned in 2023, is the power of an online business.
People wouldn’t be running around scared like headless chickens if they had online businesses.
Online business owner.
Running an online business involves a few moving parts that can be managed anywhere in the world, including your home.
As we usher in a new year, these are some of the ideas you should consider starting.
Blogging involves sharing articles on a website targeting a specific group of readers.
While bloggers did well in 2023, not all of them were successful.
There were winners and losers in the blogging world.
Travel bloggers felt the pinch due to movement restrictions. Thus, their blogs registered a drop in readerships per month as people shifted their attention to pressing issues and surviving.
On the flip side, it could be argued that review blogs had a hay day because of the increased online shopping.
It’s been proven that online shoppers first conduct research online before buying.
That is where the review blogs come in.
In 2021, if you are intending to start blogging, pay attention to the niche.
While you may not know what is in store for us, you should consider evergreen niches such as finance, health, and personal development.
In 2023 alone, there are over 3.5 billion mobile users.
And in these numbers, Android commands over 75.85%, making it the dominant mobile OS platform (as in 2013).
Of all the mobile users, 90% of their time is spent on applications.
This doesn’t come as a surprise to learn that there are over 3,032,113 apps on Google PlayStore and counting.
Last year alone, there were over 205 billion app downloads, and there is a projected 25% increase by 2025.
Not to bore you with numbers, but as they say, numbers don’t lie.
Domain flipping goes hand in hand with blogging.
As long as there are still people interested in making money online through websites, flipping domains will be profitable.
This online business involves buying strategic website names with the hope of selling them at a higher price than you bought them for.
Here, you are betting on the demand of the said domain to increase.
It is a game of strategy and intensive research and it will be big in 2024 as more and more people move to start online businesses in 2024.
Content writing business
Again, content writing goes hand in hand with blogging.
It is all about producing content for blogs and websites.
Considering the value people have found by reading online, there will be an increased demand for content creators as blog owners move to publish consistently.
By doing so, they are keeping the readers engaged and coming back for more.
As much as people love reading, there is a growing love for audio content.
Look at the numbers, as of November 2023 there are over 1,500,000 podcasts and over 34 million episodes.
In 2024, it’s estimated that podcasting ad revenue will hit the $4 billion mark.
With 90% of podcast fans listening from home, this gives you an insight into what’s going on; the fan base will continue to grow.
There is no doubt people now love listening to audio files, be it book MP3s or episodes.
Considering the dominant age group is between 12 and 34 (52%), if you are considering this online business in 2024, you should pick a topic that would interest you.
Whether you are a business or an individual, 54% of consumers want to see video content from brands and businesses they support.
This tells you one thing; video content demand is growing.
For this reason, starting a YouTube channel in 2024 will be a prime opportunity to provide consistent video content to viewers.
Why do you think Facebook introduced Facebook Watch?
It is because of the growing demand for video content.
1 in every 3 people would rather watch a video instead of reading.
As the race to start online businesses in 2024 intensifies, SEO business will be booming.
And as long as there are search engines, SEO will always be the #1 priority.
68% of online experiences begin with a search engine (BrightEdge).
If I were to start over in 2024, I’d bet on starting an SEO business. Your work will be helping website owners to rank on search engines, thus enjoying free traffic.
Why does SEO matter again?
0.78% of Google searchers click on results from the 2nd page.
And that is why being on the #1 SERPs page matters, with the result #1 receiving over 26% of clicks.
Web development business.
With the demand for more online websites, web designers will be in demand as well.
Thus starting a web development business in 2024 is a great idea.
However, pay attention to changing trends.
Somewhere in 2024, Google will release an update they are calling ‘User experience.’ In short, they will be prioritizing websites that deliver the best user experience on the SERP (search engine results pages).
Looking at it, you realize that UI starts from the design mechanics.
As such, things may be different in how you design a website in 2024.
Leave alone 2024, it is expected that more than 95% of all purchases to be conducted via eCommerce by 2040.
An online store is, therefore, one of the online businesses that will still be profitable in 2024.
As mentioned earlier, if there is something 2020 taught us is that we don’t need to visit a mall to get the things we need.
It may be even cheaper to buy online than go to a mall considering the fare or gas prices.
Starting e-commerce should be easy with supplier marketplaces like Aliexpress.
All you have to do is decide on the product to see, get a supplier, and set up shop.
People value learning at their own pace.
And as new skills enter the job market, a normal curriculum may not be able to catch up.
Digital marketing was unheard of decades ago.
As such, it is not taught in any college anywhere.
However, due to its demand, people are turning to online courses for help.
In 2024, learning online will be booming, as demand for video and audio content grows.
Starting an online course is a passive income source. You don’t need to be there to deliver the content personally.
Also Read: – HOW TO EARN MONEY IN KENYA WITH GOOGLE
As online shopping skyrockets, affiliate marketing will boom as well in 2024.
People will be looking for ways to supplement their income on the side.
- Online trading
Online trading has been the darling of internet enthusiasts.
You can make thousands of dollars in a matter of minutes no matter where you are in the world.
In fact, over 25K users are trading daily on Olymp Trade alone.
The broker paid over $ 13,703 841 in October of 2020 alone.
Trading online will be booming in 2024 considering you only need as low as $10 to get started.
Box subscription business
What is the box subscription business?
According to Wikipedia, Subscription boxes are a recurring delivery of niche products as part of a marketing strategy and a method of product distribution.
It is when you subscribe to receive a certain product consistently.
Due to the value offered, the business will still be profitable in 2024 as people move towards online shopping more.
Webinars are seminars conducted online.
The reason they work is that you are dealing with an engaged audience who have shown interest in your products.
As things move towards automation in 2024, the webinar business will be making a lot of money.
Here, you just record a training where you sell a product as you teach.
After that, all you have to do is drive traffic to the replay and make money every time.
Wrapping up online business ideas in 2024
Working online gives you the freedom to pursue your dreams.
If this is your resolution for 2024, these ideas possess the power to get you there.
The secret is to get a plan and work it fully before writing it off as ‘failed.’ Otherwise, making money online in 2024 will be the priority of many.