It’s important to know that e-commerce as a way of earning money is not as easy as it sounds; at least not at first. However, once you’re set up, and you have established your credibility as an online business, you see the income stream even when you’re on vacation!
In recent times, you no longer need to have a physical store to sell items and earn well. Many online selling businesses today operate solely through their e-commerce websites. If you are interested in starting your own e-commerce operation, here are some of the ways to start gaining residual income:
Build a website. First of all, before you can sell things online, you will need a store just like any old physical store. You can start selling items on selling platforms like Etsy and eBay, but there is only one problem with these platforms: when you are removed from them, you lose all your links, and you need to start over again. If you have your website, you have more control over it, so you need to establish it to enjoy the passive income.
Create great content. Once you have established your website, the next step is to draw traffic to it. In your site, you will also put up your product pages, contact information, FAQs, and more. There are various platforms to create your website on, and Shopify is highly recommended. The platform allows you to produce, publish and host your e-commerce websites. Another advantage of using the platform is that you don’t need to hire people with coding skills when using Shopify. Another option is to use WordPress’ WooCommerce. As search engine optimization, or SEO, experts always say, “Content is King”, you should live by this mantra too. So, you need to make sure that you share relevant and useful content. You want readers to keep coming back to your website, right?
Promote, promote, promote. With everyone using social media today, this is the best way to promote your website. Social media is one of your most powerful marketing tools, with Facebook, Pinterest, and Instagram being your best bets. Endorse your site to your friends through social media to build a strong following. Target your family and friends to bring in your first sales, and establish word of mouth with your target audience and growing customer base. Once you’re bringing some money in, expand your promotional reach. Make use of social media influencers in your respective niche to really get the word out about your e-commerce products.
Other Ways to Earn from E-commerce Websites
Getting your products sold is not the only way to earn from your e-commerce website. The great thing about establishing your website is that you can have multiple sources of income to set up extra sources of income aside from your product sales. Let’s take a look at these income sources.
Email Marketing. An excellent method of establishing the popularity of your website is to offer freebies to potential clients. Create an eye-catching form on your website informing visitors of the ways your freebie can help them. You can then establish a targeted e-mail list of potential clients to promote your products including those affiliates.
Banner Space. Many e-commerce stores rent some of their website space to other businesses, which is called banner spaces. These spaces can produce a generous source of income for a website that has a good reputation. Even if your products don’t get sold, you still have another way to earn through these banners. Promoting your site on social media will help generate more visits to it, and more visits will improve the chances of them seeing these banners and providing you with income.
Advertising Income. This source of income can work with any website. If your e-commerce website is attracting visitors, you can turn these visitors into money. To get started, you need approval from advertising networks such as Chikita, Google AdSense and Infolinks. The advertising networks allow webmasters to place their ads on websites and the revenues are shared with the publishers. You can put ads on relevant places on your site to generate a decent residual income from them.
Affiliate Links. Many vendors look for reputable affiliates to increase their product sales. By joining affiliate networks such as Amazon, ClickBank, and JVzoo, you can add affiliate product links on your website. This is a great way to augment your income—especially if you have already established a good following. Doing some marketing and SEO works on your site will help get it into the top ranks of search engines!
Generating residual income from an e-commerce website is NOT impossible. It may need hard work at first, and it may take time for your site to be at the top, but it is entirely doable! You may find it easier to work with a company specializing in e-commerce success. You could also scour the internet for tips and videos like this to help get you earning. Before making money from an e-commerce website, some people even find usefulness in embarking on a sales course; journalreview.org can help you find one. Take the given tips in establishing an e-commerce website by heart and you will eventually notice an improvement in your sales.