Coronavirus is the main celebrity of the current trend season, making all the other trends go down.
As the trend of stock markets seems to be in a long sleep, you’re probably anxious about your own source of income. Imagine, businesses are closing on a large scale, and if there are any open they’d probably be shutting down very soon.
While the physical business landscape is starting to be reshaped for the next couple of months, this actually equates to the opening of a lot more opportunities online. As marketing and technology have greatly partnered today, you’re maybe thinking what you can do to milk the use of these online platforms to earn money.
What Can We Do
Submit to Reality, Mastery and Ethics
This crisis gives way to more business models rushing your mind. However, these various ideas could lead to confusion as to whether something profitable is aligned to your skills or if a certain idea applies to the current situation.
You must also consider ethics, both in business and morality. As a simple citizen, you can think, “With everything that’s going on, what is the best way to make some money online?”. Can it be a social media marketing agency in which you go and contact local businesses, offering their businesses to be advertised online in exchange for a monthly fee?
On the other hand, someone might have thought, “I could trade some stocks because of their current volatility”. Another idea is by buying a bunch of Personal Protective Gear like masks for a very cheap price and selling it for a high price and earning an overwhelming amount of money. Hatchett (2020) clarifies that these horrible ideas simply won’t work.
Having the social media marketing agency may sound to be an efficient way of making the business known to the public taste. However, remember that most of the businesses are going on a lockdown which definitely means that there are no clients who will avail your service.
If you don’t believe how dynamic the reality of this world is, then you should be watching the news and experts’ evaluation of this global crisis. Businesses depend on consumers, and the reality is that most businesses resort to what the local authorities implement, which is to close.
Investopedia states that market volatility is inevitable, it is the nature of the markets to move up and down over the short-term. Stock market trade is not that good place to put your money these days. Extensive research must be done and this idea won’t make a convenient way to make money now.
You may look tactical in selling those Personal Protective Gears at a high price but obviously you are just making your way behind the bars. Governments hunt those taking advantage of the situation and confiscating their money. You also have your conscience which tells you that it is not the proper thing to do. People are dying and you’re there to earn money out of the crisis?
How to Start
With the world facing this serious health crisis, what can you do now? Here are the steps you need to do for an absolutely acceptable online marketing method.
1) Research
In any field, it’s a completely foolish plan to engage in something you don’t know. While you are fully aware that online marketing is very much efficient, you might sketch where you are going to start, what product, method or strategy you will use as your beginning. When researching you need to be directed in the following path:
Go after the trend. Before you actually start your online business, you need to know what to do online. You can use Google Trends to show what people are searching, what is trending and dropping. From this point you would know what the online public is into, which serves as your starting point.
How would you use this information for your online business? This is where the second step takes a role.
2) Devise effective ways
After doing your research on the current trend, you need to devise effective ways on how to use that trend. Your product or service and marketing strategy should evolve towards the public interest. Would you post about this website on your social media accounts? Would you message your friends for them to avail this platform? It actually promotes the hosting company but it will not let you earn money. Depending on the trending services, you can offer the service needed or advertise websites that offer the demanded product or service. An example of this is Affiliate Marketing.
3) Be tactical
After you formulated and launched your marketing strategy online, you are now looking for potential customers to avail your service. In other words, you need to get “traffic”. One of the ways to get the traffic is by going to Google and adding your own website. However, it will take a long time to get traffic. We recommend using an online platform with multiple traffic sources, like YouTube.
Start Now!
The current situation restrains the movement of people, which would eventually boost the online market for the months ahead. In formulating your online business plan, you would need to conscientiously evaluate different aspects of the situation considering the reality, taking account of your mastery of things and not leaving ethical standards of business.
After doing research, devising ways and tactics, don’t hesitate, be confident to start now!
