5 Lucrative Online Business Ideas for 2021
By Madz D.
It's the best time to start an online business, especially since the internet and smartphones help the commerce rate online grow.
An estimate of 3.7% to 4.2$ growth rate was recorded in retail businesses that will stay on par, according to the National Retail Federation (NRF).
In 2017, the NRF declared that it expects total retail sales to grow 3.7-4.2%, excluding restaurant sales, cars, and gas stations, as per CNBC.
Whether you are planning to start a simple online business or your literally looking for a platform to get rich and reach success, there are five online businesses you should know about, according to Entrepreneur:
Chatbot has impressively risen as chatting with friends and family across all social media networks grew. The AI-powered chatbots represent a new digital frontier for companies searching to automate the workforce it takes to have a chat with its clients.
It's clear when it comes to customer service, but its full value in commerce became apparent, and businesses are now taking advantage of this.
Platforms like Chatty People and Manychat sprung up to make much of the complexities and confusion of building a chatbot.
Box subscription business
The box subscription is not new but has been around for ages now. It overwhelmingly rose in the internet world and highlighted a newfound life in the online business idea.
One of the most viral box subscription businesses is the Dollar Shave Club. In 2011, Miche Dubin founded Dollar Shave Club, which has a concept of ingenious use of a video that quickly went viral.
The company's deed was brilliant as it has a basic level of items that you can order like other box subscription businesses.
Ad management business
In today's highly-competitive marketplace, if you don't understand how to drive paid traffic and optimize your conversions, you need to turn to a company that does.
The truth is that paid ads can get incredibly complex. Things like retargeting and custom audience definitions and understanding the flow of everything with a sales funnel are complex and confusing to most.
Search Engine Optimization (SEO) enables sites to appear organically and relevantly in different search engines like Bing and Google. While paid ads are growing at an astounding rate, SEO becomes more competitive and more lucrative.
For instance, almost 40% of [people click on the first search results. The first page accounts for some 91% of the search share, appear organically on Google's Search Engine Results Pages. It would be something that helps online marketers to compete with others.
Webinars are potentially to be one of the best ways to sell anything online. What's good with Webinar business is that you don't need to own a product to sell.
Jason Fladlien, the co-founder of Rapid Crush and a Webinar guru, grossed well over $100 million in sales through webinars, which shows you the proven power of this medium in starting your online business.