The CVID-19 pandemic has taught us many things about our lifestyle, and one significant lesson is that we shall not rely on one source of income.
Having multiple earning sources can serve as a backup for an ugly situation when your primary job does not sustain.
Along with the rest of the world, Canadians have lost their jobs, and sales almost dried up during the pandemic.
Fortunately, several online platforms give you the opportunity to supplement your primary income.
In this article, we will learn about some unique ways Canadians can make money online. Hopefully, you will find a suitable option that suits your skills and goals.
10 Ways To Make Money Online
1. Sell on Social Media Platforms
Selling products on live streams has become one of the biggest trends in Canada.
Whether you want imported goods, clothes, accessories, linens, or edibles, you will most likely find each being sold on a live stream.
You can become an online seller too. All you need to get started is a popular platform, goods or services, and an engaging personality.
The platform you choose will have a significant impact on your sales. You must sell your products on a platform that is popular among the masses.
We recommend selling your products on Facebook, as it is the largest social community and free.
Almost everybody is a Facebook user nowadays, so that it will offer you a vast market.
Next, you will need to decide on what you want to sell. Choose a generic category that is essential for daily living, such as clothes, food, and other necessary commodities.
Or, you may also sell artistic products such as paintings, handicrafts, designs, and customized ornaments.
Once you are ready with the platform and products, you will need to do some marketing. For Facebook, you may boost your profile to increase reach.
To grow your customer base, you must host contests regularly and giveaways to attract more buyers. It will also incentivize your existing customers.
If time permits, you must host contests multiple times a day to attract more people available at different times.
2. Become an Influencer
In recent times, the influencer marketing industry is exploding. It seems that every other person is aspiring to become an influencer.
While purchasing a product online, people tend to trust buyers’ reviews more than the brand description. That is why more consumers are turning into influencers.
Being an influencer does not mean you have to become a fashion model. You can choose any topic you like and influence people with common interests.
Regardless of your field of interest, it is vital to have a large number of followers. Once you have earned that, you may start reaching out to concerned brands for promoting their products.
If you have a good social engagement, these brands will come to you for a paid promotion.
Instagram is the best platform to increase your followers and close brand deals.
3. Selling Productized Services
If you have some specific skills that are in high demand online, making money will be much easier.
Currently, there is a huge demand for graphic designers, video editors, and content writers. If you fit in any of these profiles, you may start to sell productized services.
A productized service means offering your skills to serve customers as per their requirements at a fixed price.
For example, if you are a graphic designer, you can offer to design catalogs, logos, advertisements, and web pages for small and large businesses.
Try to avoid negotiation if you are selling a productized service. It is crucial for you to take some pride in your skills and value them.
Every day you will come across several customers who will ask you to work for them at a lower fee. You must not agree to that.
However, you can always adjust the price as long as you are comfortable, but you should be confident enough to decline a job if the client is offering too little money.
The most significant advantage of having a productized service is that it has fixed deliverables and allows you to scale up the business in lesser time.
That is why we recommend you offer a fixed package to all your clients instead of customizing the quote for each of them.
You may consider setting up a productized service even if you have not worked as a freelancer yet. If you have the necessary skills, you are good to go.
You may like to checkout BriteWRX, a leading productized service seller in Canada, to get a clearer idea of how to set up your services.
4. Drop Ship Physical Products
Dropshipping physical products online is definitely one of the fastest ways to earn money online that anybody can start.
All you need to do is learn about popular products on platforms like Shopify and Gelato, similar or the same products from dropship suppliers and sell them on your Shopify or Gelato store with a markup.
The only drawback of dropshipping is that the profit margin will be minimal, not more than 5-15%. So, we recommend listing a lot of products to earn handsome revenue.
As a beginner, selling your first few products will be challenging, but you will witness more buyers as you go along. You may also use digital marketing tools or even Facebook ads to get more exposure to your store.
5. Selling Virtual Experiences on Airbnb
The COVID-19 pandemic has forced all the countries to close their national borders. It is heartbreaking news for everyone who loves to travel.
It is hard for these travel freaks to retain themselves to domestic traveling. Their hearts are filled with wonder lust, and they constantly seek adventure and explore new places.
Virtual reality is one of the latest trends in the tourism industry. People are constantly upgrading their living standards with the advent of new technologies.
But it prevails in the tourism industry for a longer time than you think. The first virtual reality introduced to traveling was Google maps.
You make some extra money while offering local experiences to them on Airbnb online that will help them quench their thirst for a while.
6. Become a YouTuber and Sell Affiliate products
If you think you have an engaging personality and are confident in front of the camera, you may consider starting a YouTube channel.
Currently, 94% of the American population watches YouTube at least once a month. And this platform has over 2 billion users worldwide.
You can use this platform to showcase your skills, provide information, create content, review products and services, and many more. YouTube allows you to post videos on any subject of your interest.
But it may take a lot of effort and time for you to gain a certain amount of subscribers before you can get paid for the views.
YouTubers also make money through Adsense on this platform, but that is a time-consuming process as well. You will need at least a thousand subscribers before you can feature ads on your videos.
As a beginner, you may add affiliate links to your posts on YouTube.
Affiliate marketing is an online business model for YouTube where you can generate revenue by providing affiliate links with the videos that you upload.
These affiliate links can be of any product or service that you want to promote. You can place it over the video with annotations, or you may add it to the description.
That way, it is pretty similar to traditional affiliate marketing.
But remember, you must not compromise on your content. Adding affiliate links to random videos and uploading them will not do any good.
You must strive to create videos that people will enjoy and share. Only those who will watch your videos will be able to visit the affiliate link you have provided.
7. Launch Your Branded Store
With more people moving towards online shopping, it is a great time to start your own e-commerce store. A website is not mandatory for you to sell products online.
You can get started with a business account on Instagram and Facebook.
If you are willing to spend some money and extra time, it is better to launch a branded online store with a professional platform like Shopify.
Shopify offers you better control over your online shop and more efficient overall operations.
Unlike dropshipping, here, you can add several categories and sell them at any price that seems profitable. Also, the margin is more flexible than other selling methods.
You may develop a dedicated e-commerce website as well. But that will be expensive and difficult to maintain.
Also, you will need to update your website regularly and provide customer support.
We recommend you launch e-commerce only if you have all the necessary resources.
Moreover, you will need to hire a logistics service provider to deliver the products to your customer.
Overall, we suggest you start your e-commerce store with another platform first, and you can launch your own website once you have established your store in the online market.
8. Work as a Freelancer
Freelancing is an excellent means to use your skills to make money without working on a fixed schedule. If you enjoy working on multiple projects simultaneously, freelancing is for you.
You can freelance just about any skill- photography, handyperson, writing, graphic design, developer.
Freelancing offers all the comforts you can expect while working, but the only drawback is that one contract will not pay you enough to cover the cost of living.
So, you can work as a freelancer besides your full-time job, or you have to develop a system to generate sufficient leads if you are planning to rely on freelancing completely.
You will need to learn to craft cold pitches and identify where there are opportunities apart from regular channels.
There are several platforms where you can connect to thousands of clients and pick projects. Freelance.com is the leading platform where you can find millions of clients and freelance workers.
But closing a deal on these platforms can be challenging, as several other freelancers are willing to work on the same project as you.
Freelancing is a flexible way to work that gives you a certain degree of control time.
9. Selling Stock Photos
With the advanced configurations available, anybody with a smartphone can become a photographer.
All enterprises and influencers are looking for content, and most content needs to include a photo to make it presentable.
You can sell your photos as stock images for these enterprises to use. If you have a camera or a smartphone with good camera specifications, you are good to go.
You will need to focus on two things before selling stock images: you need to identify your niche and build your audience.
As a photographer, you need to develop a unique style that will make you stand out. It will also set high standards that your audience will expect you to meet each time.
For example, if you are good at aesthetic photography, your audience will reach out to you when they need an aesthetic image.
Having a niche does not mean that you will stick to a particular category. You may click pictures of anything you want, but it must have your touch.
As a beginner, exposure is the key to attract more buyers. Post as many photographs as you can take every day, and remember to use some hashtags to ensure you reach the correct audience.
10. Work as a Virtual Assistant
Virtual Assistance is becoming a popular way to make money online. You might have already figured out what a virtual assistant is.
It is exactly what it sounds like. A virtual assistant is someone who is willing to offer their skills to support a project virtually.
A virtual assistant’s job role mostly includes admin or secretarial tasks, but there is more to it.
You might also need to manage blogs, perform digital marketing, proofreading, translate scripts, and many more.
The key to becoming a successful virtual assistant is developing and sharpening a particular skill instead of trying to get your hands on everything.
Mastering a single skill is more valuable than performing a hundred tasks reluctantly.
But finding clients for this profile is way more challenging than you can imagine. That is why you have to be exceptionally good at marketing.
You will need to attract as many people as possible and demonstrate to them your skillset and how you can help them manage a project.
Starting your own website may be a compelling idea to find more clients and generate potential leads.
You never know what is waiting for you at the workplace. You may lose your job or suffer a significant loss in business.
Having some sort of income backup is a sensible idea that is becoming compulsory for more people day by day.
Even if you have a well-established business, you would still like to use your leisure time to make extra money.
The Internet offers uncountable opportunities to make money. All you need to do is invest some time and effort.
We have discussed 10 latest ideas that will help you earn some extra money online. Of course, there are many other ways to make money online, but these the fastest means to earn more revenue.