Online businesses don’t have a history that tails back several centuries, but their efficacy and growth have been dramatic. The pace of their earning potential has convinced even traditional bricks-and-mortar establishments to integrate online schemes into their business models.
About 64% of small businesses today have a website, the global e-commerce market is expected to reach $25.038 trillion in 2019, and online enrolment of the Machine Learning course of Stanford University reached one million on Coursera since 2011; that’s how impactful online platforms have been.
Here are the top online businesses that have influenced the whole world in the last decade:
1. E-commerce stores
Whenever we hear the world e-commerce, names like Alibaba and Amazon pop in our head. They sell thousands of products every month, delivering useful items right to the doorstep of the customers and thus, generating millions of dollars as a result. The world of retailing has changed considerably since the turn of the century.
What most people see is the profit earned from the physical selling of the goods, but it’s not just that. E-commerce stores generate income through other means, which include advertising, commissions, and promotions.
Many new online companies like Inspire Uplift, ModCloth, and Tradesy are making their way up to the crown of e-commerce kings in their region. Getting right up there with the leaders is not an easy task. It takes a great deal of time and significant effort.
Do you think Amazon became the titan of the field in a year or two? No, it took years and years of persistent struggle and dedication.
2. Affiliate marketing
Selling products on an e-commerce site is one thing. However, many customers don’t want to go through the toil of searching for their desired product in an online store. We live in a society today in which consumers want everything instantly. To save time, they locate the product or service they seek in Google’s search bar by writing, for example “Top 10 smartwatches in the market.” A list of search results then appear on their screen.
Many of the search results include affiliate marketing blogs that feature the product details of e-commerce stores like Amazon in their writings and get a commission from every sale the reader makes through their link.
This has become one of the most anticipated online businesses nowadays, opening up innumerable employment opportunities for SEO optimizers, content writers, and graphic designers.
3. Online courses
There was a time when students would spend hours intently sifting through the shelves of their local library when looking for material for their assignments. Those days are long gone. Since the advent of the Internet, how we work, play, communicate, and also study has changed significantly. The number of people going into libraries has declined considerably over the past twenty years.
Today, people search for online courses through platforms like Lynda, Coursera, Udemy, Khan Academy, and several others. Some courses charge a fee while others do not cost anything.
Qualified professionals today can earn money by posting lectures online.
4. Digital marketing services
Companies consult with digital agencies for services like content marketing, social media marketing, web presence, search engine optimization, and bespoke software development (software development according to a customer’s specifications).
These agencies provide them with solutions to their problems for a fee. There are literally thousands of agencies today on the Internet covering a wide range of business services. It is a vast and fiercely competitive market.
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