There are many internet business ideas in Nigeria that will cost you only a little startup capital. Here in this article I will share with you the top six (6) internet business ideas in Nigeria with low startup capital. These are highly profitable businesses that are unknown to many Nigerians.
Therefore, ensure you read through and take action. Remember, nothing changes until you take action.
Disclosure: Within this post are affiliate links. This means if you decide to click on any of them and make a purchase, I may get a commission but at totally no additional cost to you.
1. AFFILIATE MARKETING
If you are looking for internet business ideas in Nigeria, Affiliate Marketing tops the list. Affiliate Marketing is a business model that involves promoting other people’s products and getting paid a certain percentage of every sale made. In other words, Affiliate Marketing means referring customers to buy a product and when they buy, you get a cut of the profit.
It is not difficult at all. Even a complete introvert who does not like talking to people can do this. You do not even need any experience in marketing to start. It is one of the best internet business ideas in Nigeria.
HOW AFFILIATE MARKETING WORKS
Assuming a product sells for N20,000 and the affiliate commission is 50%, if you make just five (5) sales in a week your income would be 10,000 x 5 sales = N50,000. That’s a huge profit. Affiliate commissions are always high in most cases. For instance, Bluehost will pay you $65 if you refer a customer who buys from them. That’s how affiliate marketing works. You can be in Nigeria and be an affiliate for different companies all over the world.
Let me share this with you…
HOW TO START AFFILIATE MARKETING AND MAKE LOTS OF MONEY
- Do your research
- Decide on a niche
- Join an affiliate network
- Start promoting
Let me explain these points further…
Do your research
The first step of every successful business is research. You need to study about the business you want to go into before you dive into it. Toyin Omotosho, a very successful internet marketer, created a free video training where he explains affiliate marketing. Click here to see the video.
Decide on a Niche
A niche is an aspect of affiliate marketing you want to be promoting. There are many niches in affiliate marketing. Some of them are: education niche, automobile niche, finance niche, weight loss niche, beauty niche, furniture niche, software niche, romance niche, and many others. In fact, there is always an affiliate program for any kind of niche you decide to choose.
If you are just starting out as an affiliate marketer, choosing a niche may seem difficult but don’t worry because as time goes on, you will discover that your niche will come to you naturally.
Join an Affiliate Network
An Affiliate Network is a company you partner with to promote their offers. There are many networks you can register with like Expertnaire, JVZoo, Warriorplus, Commission Junction, Grammarly, etc. However, some international affiliate networks require that you have a website before you can join them. Click here to learn how to create one easily by yourself, without the help of any programmer.
After joining an affiliate network and getting approved, the next step is to start promoting.
This is where it gets interesting…
Let me walk you through the steps to promote affiliate products…
HOW TO PROMOTE AFFILIATE PRODUCTS AND MAKE LOTS OF PROFIT
I have outlined below four (4) ways to promote affiliate products and make lots of money from it.
- Free advertising method
- Paid advertising method
- Promoting through Blogging
- Promoting through YouTube
Let me explain them one by one… Keep reading.
Free Advertising Method
From the name, free advertising, you know it is a form of advertisement you are not paying for. The free advertising method involves telling people one on one about the affiliate products you are trying to promote. You can do this by chatting up your friends online, asking them to buy your offer or posting the products on your Facebook wall.
Paid Advertising Method
This method involves running paid advertisements online in order to send traffic (people) to the offer you are promoting. This method is more effective than free advertising method because you can reach thousands and millions of people with it depending on your budget. It involves running Facebook ads, Instagram ads, Google ads, Bing ads, etc. and directing the traffic to the product you are trying to promote.
The paid method is an automated process. This means that you set up a buying and selling process that runs itself. To make this method work, you have to set up what I call “a sales funnel”.
A sales funnel is an automated process that you set up for your potential buyers to go through to buy your offer. It is not really okay to just run an advert directly to what you are selling. You have to take your potential buyers through a page where you can get their email addresses in order to do a follow up on them. This is because not everyone buys immediately. This is why we are setting up the funnel.
What make up a sales funnel are: an advert, a pre-sell article, a landing page, a thank you page, and a sales page. This video explains it more.
Here is an image of a sales funnel
The advert will contain captivating text called an ad copy and an image. The pre-sell article is an article specially and professionally written to make potential buyers have “a foretaste” of what they are buying. The landing page is where you tell them to sign up for your offer with their name and email address.
The thank you page is where they are congratulated for signing up. Finally, the sales page is where they buy your offer. You need E-mail marketing software to do this. GetResponse is a good email software to start with. Click here to sign up for GetResponse. You can use it to set up your landing pages, thank you pages and also capture your customers’ email addresses.
Promoting Through Blogging
One of the best ways to promote affiliate offers that can generate monthly recurring revenue for you is blogging if you do it the right way. I said “if you do it the right way” because there is a wrong way to blog and there is a right way to blog. I will show you the right way to do it in this post. Keep reading.
Blogging involves posting contents (articles) that solve people’s problems on your website (blog) and placing your affiliate links within those articles. This way, as long as your blog posts are online, your affiliate income will keep flowing in. However, it will require you to have a website of your own.
Creating a website is easier than ever now. All you need is to buy a domain name and a hosting plan and your blog will be online. This guide will teach you how to create a website/blog by yourself. Click here to see the guide.
Promoting through YouTube
Starting a YouTube channel and creating video contents that solve people’s problems on YouTube is another great way to make money from affiliate marketing. Millions of people turn to YouTube to find video contents that solve their problems.
Affiliate Marketing is about problem solving. You help to solve people’s problems and they pull out their money to buy your offer. That’s how it works.
You do not need so many subscribers to start using this method. All you have to do is create problem solving videos and place your affiliate links right at the top of the description box for your viewers to click and make a purchase.
I wrote more in detail about how to start a YouTube channel that makes you money in this post. Read on. Moreover, here is a video training that reveals how to start a YouTube channel and turn it into a money making machine.
I have covered quite a lot on Affiliate Marketing. Now let’s go to the next point of internet business ideas in Nigeria with low startup capital…
2. E-COMMERCE (MINI IMPORTATION) BUSINESS
E-Commerce business is also known as mini importation business. It is one of the best internet business ideas in Nigeria. Mini Importation is a business model whereby you import goods at very cheap prices from countries like China or USA and sell them here in Nigeria at the price of your choice.
There are people who make up to 1,500% Return on Investment (ROI) in mini importation business. That’s an INSANE profit margin. But it’s true.
It is a business anyone can do. Also, you do not have to travel out of the country start mini importation business. That would be time wasting. Technology has made our lives so easy. Just with your personal computer or your mobile phone, you can order for goods from E-Commerce companies like Alibaba or 1688.com and watch it get delivered to your doorstep here in Nigeria.
Moreover, it is great to have a website for mini importation business but not necessary. However, you can begin without a website of your own.
Also, you don’t even have to be in Lagos to do this. You only need a traceable address anywhere in the Nigeria to get started. It is this same importation strategy that online retail companies in Nigeria like Jumia and Konga use.
Jonathan Melody, a highly successful mini importer in Nigeria who is making 7 figures from his business, created a free video training that he calls “The Perfect E-Commerce Business”. You will discover many things about how to be a successful mini importer in the video. He also shared in the video how he started E-Commerce business the wrong way and later found the right way that is working for him now through a mentor. Also, he has trained over 5,000 people in the business. Click here to see the special video training he created.
Another highly successful mini importer in Nigeria is Patrick Ogidi. He has also trained thousands of people in the business. Therefore he knows the right way to do it and he is willing to show you the right way to scaling E-Commerce business. Also, he created a free video training that he titled “The Smart E-Commerce” where he teaches the secret to become a successful mini importer. Click here to see the free video.
There is no doubt that mini importation business is one of the best internet business ideas in Nigeria.
These two (2) video trainings will launch you into what you need to get started with E-Commerce business.
Dropshipping is a fast growing business all over the world. It is similar to E-Commerce business. This business model involves having an online store where you sell products that you do not even own physically. This is how it works: You as the dropshipper finds a buyer (customer) and a seller. Then you buy cheaply from the seller and sell to the buyer at a higher amount. However, you are not the one who will make the delivery. The seller himself will do that.
This is an internet business idea you can do from anywhere in the world. However, Dropshipping will require you to have a website. Websites are easy to create these days. You can do it all by yourself by buying a domain name and a hosting plan. Then read this article on how to set up the website.
Blogging is one of the best internet business ideas in Nigeria. With less than N10,000 you can setup a blog that makes you money. Although blogging requires time and patience to start seeing results, it will surely payoff. The waiting is worth it. Blogging requires more of your time than money. Money is not the first thing you need to be a blogger. It is also not for those who want to make quick money without putting any effort. A typical blog takes up to six (6) months to start seeing results.
HOW TO SETUP A BLOG THAT MAKES YOU TONS OF MONEY
Step 1: Setting up your blog
- Get a domain name
- Buy a hosting plan
- Install WordPress (Recommended)
- Customize your blog
- Download necessary plugins
- Index your website (blog)
Step 2: After setting up the Blog
- Choose a niche
- Do keyword research
- Post quality contents (articles)
- Monetize the blog
I will explain those steps further for you…
Step 1: Setting up your blog
Get a domain name
A domain name is the name you want your website to be called. For example, www.adexreviews.online is the domain name of this website. If you are on a low budget, I recommend getting your domain name from Namecheap. They sell very affordable domain names.
Use the free tool below to check for the availability of the domain name you want to use.
Find a domain starting at $0.88
powered by Namecheap
Tips for buying a domain name
- Think of an incredible name to use. Don’t use a name that is difficult for people to pronounce or remember.
- Use a name that is the same or similar to the reason why you are creating the blog.
Buy a hosting plan
A website host is an online server that houses your website (domain name). Once you buy a domain name, your website is active automatically. However, without a hosting plan it won’t work. A hosting plan is the house where your website and all its contents live. Your website (domain name) needs a house (hosting) to come alive. That is why you need to buy a hosting plan. I also recommend that you buy a shared hosting plan from Namecheap if you are on a low budget. Click here to visit Namecheap.
Install WordPress (Recommended)
WordPress(.org) is the most recommended blogging platform worldwide. Namecheap hosting plan comes with pre-installed WordPress. All you have to do is sign in to your hosting account and click on WordPress to install it. Alternatively, you can download it and install it manually.
Customize your blog
To customize your blog, install a theme. WordPress comes with some pre-installed themes you can choose from. Otherwise, you can download a theme online and install.
Download necessary plugins
One of the most important plugins is Yoast SEO plugin. It is a very important plugin that guides you in writing blog posts that Google will love to put on their first page.
Index your website (blog)
This is a very crucial aspect of setting up your blog. Indexing is what makes search engines like Google find anything you post on your website. You only need to index your blog once then anytime you post anything, Google will easily find it.
Watch this video guide on how to index your blog.
Step 2: After setting up the Blog
Choose a niche
A niche is a specific aspect you want to blog about. There are several profitable niches you can blog about which include finance, relationship, health and fitness, weight loss, automobile, software, and so many others. Some people even blog about dogs and they still make money from it. It’s that easy.
Do keyword research
After deciding on your niche, the next crucial step is to do keyword research. Keyword research means topic research. You have to do a research about the topics people are searching for on the internet based on the niche you chose. As a blogger, you do not just write what you want, rather you write to solve other people’s problems and that is where the real money is.
Blogging is about solving problems and then getting rewarded for it.
When you are doing keyword research, always look for low competition keywords. It will help your blog to rank faster in search engines.
There are online tools that can help you with your keyword research. Some of them are KWFinder and SEMRush. SEMRush has a very large database of keywords because it pulls data from all over the world. You can sign up for KWFinder free trial here or sign up for SEMRush free trial here.
Also, you can begin your keyword research with the search tool below.
Post quality contents (articles)
After you have done your keyword research, the next step is to start writing blog posts based on the research you have done. When starting out, post as many quality contents as you can and ensure they are well optimized for search engines. If you have no time to write or you do not know how to go about it, you can hire a freelance writer to write your contents for you. Click here to hire a freelance blog post writer.
However, while writing blog posts ensure that you optimize them well for search engines. This is called Search Engine Optimization (SEO). Every blog post must be optimized properly for search engines. This book will teach you about how to optimize your posts to rank well on Google. Click here to get a copy.
Monetize the blog
You can monetize your blog in these ways:
- Affiliate Marketing: This is one of the most profitable ways to make money from your blog. Whenever you post articles that have your affiliate links on your blog and people click to make a purchase, you get paid. Read more about it in the first point of this post.
- Google Adsense: When you register for the Google Adsense program, Google will place advertisements on your website and pay you when people click on them. Ensure you do not deliberately click on those adverts yourself to make more money. Your website will get penalized by Google for it.
- Selling your own digital products: If you have digital or physical products to sell, you can advertise them on your website for people to buy.
- Selling advertising spaces: When you have a huge number of people visiting your blog monthly, you can apportion certain columns or pages to people who want to advertise their own businesses on your blog and you will charge them for it. This method pays a lot.
Here is a full course on blogging you might be interested in.
Having a YouTube channel that makes you money is also one of the best internet ideas in Nigeria. A YouTube channel is not difficult to create at all. Other than your email address, you just have to buy a good camera, a good microphone, and a good location for shooting videos to get you started.
HOW TO START A YOUTUBE CHANNEL THAT MAKES YOU MONEY
- Decide on a niche
- Create the YouTube channel
- Customize your channel
- Do a proper YouTube SEO research
- Create video contents
- Monetize your channel
Decide on a niche
This is always the first step. Your niche is a particular topic area that is of interest to you. You do not want your channel to be littered with different kinds of videos that have no purpose. This is why you have to decide on what area you want to focus on. Some profitable YouTube niches are technology, gaming, product reviews, tutorials, food, fashion, motivational, beauty tips, travel, electronics, and many others.
Create the YouTube Channel
The next step is to create the YouTube channel itself. It is so easy to create a YouTube channel. Watch the video below to guide you on how to do that.
Customize your Channel
This is when you create a logo and cover image for your channel. You can easily use a tool called Canva for this.
Do a Proper YouTube SEO Research
SEO Research means Search Engine Optimization Research. This is the same as keyword or topic research. YouTube is a search engine therefore you have to research about topics that many people are searching for before creating video contents.
There are awesome tools like TubeBuddy that can help you with this. Not only does it help you to do a good research, it also helps you to optimize your videos to rank high when people are searching. This is what most successful “Youtubers” use to optimize their videos. Click here to sign up for TubeBuddy.
Create Video Contents
After doing a good YouTube Search Engine Optimization (SEO) research, the next step is to start posting quality and engaging videos based on your research. As a beginner, it is recommended to create videos that are at least 10 minutes long. Create as many as you can.
Monetize your Channel
There are different ways to monetize a YouTube channel. Firstly, you can monetize it by signing up for the YouTube Partner Program (YPP). This program allows YouTube to place video advertisements in strategic places on your video contents and you get paid a certain part of the advertising commission when people watch the adverts. However, to be eligible for this, you must have at least 1,000 subscribers and 4,000 watch time hours on your videos.
This may sound daunting but it’s possible. This tool will help you achieve that easily. Secondly, you can monetize your channel through affiliate marketing. You do not need a thousand subscribers to make money from this method. All you have to do is look for affiliate programs related to your niche, sign up, get your affiliate links and add them to your video contents.
6. INFORMATION PUBLISHING
Information Publishing is one of the lucrative business ideas in Nigeria. It is an industry that is growing fast and rapidly. It is a profitable business model that involves packaging the knowledge you have about a particular topic into video or ebook formats for sale.
For instance, you can create digital courses on “How to lose weight” or “How to make money online”. People are constantly looking for topics like that therefore it has a huge potential of making you money.
Interestingly, even if you do not know how to write well, there are people who have written about those topics and will give you license to sell them and keep 100% of the profit. This is called white label or Private Label Rights (PLR).
Jonathan Melody has a video training about how to start selling digital courses. He titled the video “Information Business Machine”. Click here to see the video.
Here are the top six (6) internet business ideas in Nigeria that you can start today. Most of these businesses won’t tie you down to a particular spot. They are businesses you can do if you truly want financial freedom. The entire world has changed since the advent of the internet. The internet made it possible to work from home or anywhere in the world.
What is your take on the best internet business ideas in Nigeria ?
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