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The following article was published in our article directory on April 9, 2020.
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Article Category: Marketing
Author Name: Theodore Henderson
It was 1994, and much of the world was still grappling with what to do with the internet. The internet was a new thing, which many thought of as a fad that would fade away with the advent of mobile phone technology. But a person in Seattle has seen the potential in what was basically a hobby for scientists and teenagers, and founded a small company.
By 1995 the company had an exceedingly small catalog of books it marketed online. Giants such as Walmart, Toys R Us, and Sears had scoffed at the idea back then of an online business. The internet's importance became more known as it grew older Along with the integration of the internet into our daily lives, the company grew more and more. The catalog which consisted of a few books in 1995 has ballooned. The company's name was – Amazon.
It is no surprise that what has been the tradition of making business can be upended by a simple innovation. Much like the case of Amazon, traditional retailers had laughed at the idea of an internet-only marketplace only to be beaten at their own game a few years later. Without the benefit of looking into the past, we can sometimes miss important innovations in our businesses. We might dismiss certain things as a fad. If there is one thing to learn from Amazon, it is that mistaking on dismissing an important business innovation can cause insolvency and billions of dollars lost.
For today, the market is as fluid as ever. . Without foresight, we still cannot be sure of the things that may or may not work in the long term. We do not have the definitive information to say what could be the next "Amazon Story." But if we take a look, we can still predict with confidence what can be profitable in the years ahead.
With the current online marketplace, there is a few ways to make money online that could prove to be much more relevant in the future.
1. E-Commerce Websites
While Amazon has become such a giant that we cannot see it being replaced in the future, it certainly has not monopolized the e-commerce market. There are still niches in consumer demands that could still be filled by up and coming e-commerce websites. For the years ahead, e-commerce will still prove to be viable.
2. Content Creation and Marketing
Our internet of today is built for consumption. Everyday, millions view videos on different platforms, and not just those owned by Google. As with the e-commerce scene, there are still niches waiting to be filled in the content market. With the diversity of this market spread through blogs and videos, more can still be made.
3. Influencer Market
Much aligned with the content creation market, the influencer market is expected to increase in size even more. With support from the advertisement industry, profits are expected to increase in this market.
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