This week, I’m excited to share a guest post by Morgan, a video production business owner and content creator in the digital marketing world!
When Morgan isn’t producing videos for clients, she’s busy with her blog, morgankg.com, and her social media channels, where she teaches the best digital marketing techniques. Morgan has a lot of experience making money online, and today she’s sharing her top 5 side hustles for 2020.
If you’re like most people, you’re probably looking for ways to earn some extra cash this year. The good news is there are plenty of ways to create an additional income stream. With so much information out there, it can be tough to know which side hustles are worth your time. This article will cover five of the best side hustles to try this year and give you some ideas on how to get started.
**Blogging**
First up is blogging. You might think blogging is outdated or boring, but it’s still very much alive! Many people build their businesses solely on social media and sell to their followers. However, this can be risky because social media platforms can change their algorithms at any time, reducing your content’s visibility. Your account could get hacked, or the platform might disappear altogether. That’s why it’s important to have a blog where you control the content.
There are several ways to make money with a blog. One is affiliate marketing. You can set up affiliate links in relevant articles on your site. Depending on the program, you earn a commission whenever someone clicks on the link or makes a purchase. Another way to monetize your blog is by selling digital products like courses, ebooks, digital planners, or Pinterest image templates. If you’re an expert in a particular field, you can also offer coaching services through your website. Additionally, you can make money through advertisements on platforms like Mediavine.
**Podcasting**
Next is podcasting. While it might seem like the podcasting world is saturated, there are still opportunities depending on your topic and niche. Start a podcast on a subject that’s hard to find on Apple Podcasts or other platforms. Niching down is key. Promote your podcast and build an audience before launching by creating a landing page and email list, and promoting it on social media. When you release your first episode, you’ll already have a list of people to notify.
To increase your podcast’s visibility, interview guests and ask them to share the episode with their audience. This helps organically grow your reach. You can make money through affiliate marketing by promoting products in ad spots or breaks in your podcast. Another way is to grow your podcast and work with sponsors, though this usually takes some time.
**Services**
Offering services is another great side hustle. Do you edit videos, manage social media, or write articles? Think about what you’re good at and how you can offer it as a service. If you have a skill that saves others time, you can likely make money from it. Instead of using platforms like Upwork or Fiverr, try prospecting and doing outreach yourself. Freelancing websites often lead to price competition, which isn’t good for business.
**Coaching**
If you’re an expert in a certain area and enjoy working with people, consider coaching! Add a section to your website where people can book sessions with you or promote your services on social media. Coaching is great because you can help someone solve specific challenges. You can also offer additional products and services, like ebooks or freelancing. However, only offer coaching if you’re experienced and can back up your methods with proof. Providing false information or unproven theories isn’t beneficial for anyone.
**Affiliate Marketing**
I briefly mentioned affiliate marketing in the blogging section, but it’s a highly recommended side hustle because there are many ways to use this method. Besides adding affiliate links to your blog posts, you can promote them through your email list. Build trust and add value before promoting products. You can also use social media to promote affiliate links by creating posts about the product and adding a link to a landing page in your bio. If you have over 10k followers on Instagram, use the swipe-up function to drive traffic to a landing page.
When promoting affiliate links, avoid being spammy and promote high-quality products. The last thing you want is to lose your audience’s trust by selling poor-quality items.
**Conclusion**
To sum up, the top five side hustles this year are blogging, podcasting, offering services, coaching, and affiliate marketing. Whether you’re new to side hustles or looking for fresh ideas for your existing business, I hope this article helps you achieve your goals. If you decide to try one of these side hustles, stick with it and be consistent for the best results.