Whether you want to become your own boss or you need a side hustle to boost your income, there are several ways to make money online in Singapore.
With an average monthly cost of living exceeding S$4,131 ($3,000), Singapore is one of the most expensive cities in the world. This means that people with inadequate sources of income can end up living from paycheck to paycheck. In such cases, the best resort is seeking side jobs that can boost their earnings.
Fortunately, the island-city state has one of the highest internet penetration rates in the world (91%). This figure is expected to grow to 97% in the next four years. If you are smart enough, you can leverage the high-speed internet connections and make a substantial of money online. In fact, some people make money fulltime from such jobs.
In this article, we are going to explore the various opportunities you can take and make money online in Singapore.
1. Online Tutoring and Training
If you know a particular subject, you can share it with others in exchange for money. You will not look out of place, as Singaporeans are already familiar with online classes provided on the Singapore Learning Space. The portal aims to allows local students to learn at their pace, whether independently or with their peers.
Besides academics, you can teach other skills such as simple DIY home repairs. You have to be competent in your area of specialisation to ensure that your audience stays through the entire course. Several ‘experts’ are deceiving people to make quick money, but they always end up damaging their reputation.
Make sure that your content provides value, and that you deliver it in engaging ways. If you adopt this approach, you will gain success like teachnlearn, an online class that has already attracted 400 students inside seven months after its launch.
Affiliate marketing earns you a commission every time you sell a product on behalf of others. Although it can eventually generate a six-figure income, it takes a considerable amount of time and effort to reach that level. In Singapore, the three leading affiliate marketing platforms are ClickBank, Qoo10 and Amazon.
The first step in affiliate marketing is creating an account with any of the three platforms named above. Once you get an approval, you can log in into your account and choose the products you wish to promote. After this, you will get a customised link from the platform, usually known as the affiliate link. If a person purchases an item using that link, you get a commission.
You can never run out of options when choosing an affiliate platform, as 81% of brands use affiliate marketing. You will also need to build and optimise a website where you will place the affiliate link. Alternatively, you can place the link on established sites so that you do not have to do the hard work. The only problem is that you will share out the commissions.
3. Offering a Service
Another way you can use to make money online in Singapore is by providing services. It is a better alternative than selling products because you are providing a skill that you can do easily. Also, it requires less capital than starting a business that is centred on products.
Some of the services you can offer include coding, writing, graphic design, and web design in Singapore. Most of these services focus on content and visualisation. This is an indicator that more businesses are building an online presence, as more consumers are now purchasing their products from eCommerce stores. The eCommerce market in Singapore has so far amassed S$6.74 billion since the beginning of the year.
Moreover, you can choose to provide a service that is in high demand, such as digital marketing in Singapore. With 42% of Singaporeans using the internet to compare choices and a further 26% using it to make purchases, digital marketing is one of the most lucrative industries in the country. By offering this service, you get more money per project than with other services.
4. Creating and Selling Products
The Singaporean eCommerce industry is expected to have a market volume of S$11.7 billion by 2023. This shows that you can make money online in Singapore by selling products such as electronics, books, courses, and software, and so on.
Live video streams are an excellent way of introducing your prospective customers to your products. For instance, if you sell electronics, people are more likely to buy them if they see a live demo. You should also make sure that you tell your audience of the value that your products add to their life.
Another channel you can use to sell your products is email marketing. Well-crafted email messages are effective in nurturing leads and prospects down your sales funnel and eventually converting them into customers.
Your landing pages should have a clear and compelling call-to-action. A vague CTA statement is ineffective, as the user might leave without knowing what to do.
That said, the most crucial aspect of selling your products is getting people to see your adverts. You can do this by leveraging the targeting features of paid search that put your ads in front of a specific audience, as well as investing in SEO in Singapore.
5. Building a Website and Selling Ads
If you have a website, you should aim to rank on the first page of search results in your niche. A higher ranking means more traffic to your site, which is in itself an opportunity to get money from your online authority. Businesses will want to be in front of your web traffic, meaning that they will pay you to advertise on your website to make more sales.
In 2019, companies in Singapore have spent S$471 million on digital advertising, with the majority going towards search advertising. This is proof that selling advertisement space on your website is an effective way to make money online in Singapore. The amount of traffic you get your site should dictate the amount you charge for ad space. If you get many visitors, you should charge hundreds or even thousands of dollars.
Alternatively, you can register for Google’s AdSense. The platform will find advertisers on your behalf, and you will get a stipend at the end on every moth. This spares you of the hassles and costs of marketing your website.
6. Start a YouTube Channel
YouTube is a useful resource if you want to make money online in Singapore. According to Google, 82% of internet users in the country access YouTube monthly. This makes the video-sharing platform the number one social media in the state. Out of these, 92%, have made an eCommerce purchase inside the past three months.
You do not have to be an excellent singer to make money off YouTube. The secret to earning from the social platform is creating videos that are relevant and valuable to your target audience. You should also be consistent. For instance, if you talk on digital marketing in Singapore in the first post, your next videos should not cover political news.
Additionally, you should optimise your YouTube channel such that it converts passive viewers into active subscribers. The header should feature a short video that shows the topics covered on the channel. You should use teasing thumbnails on your videos, and more importantly, the content should be easy to understand.
7. Write and Publish an e-Book
Sometimes, you might have a manuscript that is lying idle on your table, or you cannot find time to teach an online class. You can use your ideas to make money online in Singapore by publishing an e-Book. According to the National Library Board, the number of e-books borrowed has increased steadily over the years, although many readers still prefer paperbacks.
Uploading a book to Amazon is a straightforward process, even for beginners. Make sure that your publication displays correctly on Kindle since it is the most prevalent e-Book reader in Singapore. Amazon is also the leading online book store in the country, meaning that publishing on it increases the exposure of your e-book significantly.
8. Become a Freelancer
If you are tired of working in the office, you can become a freelancer. Depending on the level of experience you have in your area of specialisation, freelancing can be a smart way to make money online in Singapore. That said, it is not mandatory to freelance in your profession, but it is always advisable to start with something you are good at.
You can write for websites, plan events, work as a virtual assistant, or engage in web design in Singapore, among other jobs. According to the Ministry of Manpower, approximately 8.4% of the country’s workforce consists of freelancers.
As mentioned above, the rates you charge as a freelancer mostly depends on your level of experience. Since you are responsible for getting your clients, it is advisable to start freelancing as a side-gig. You can only make it a fulltime job once you have a consistent flow of tasks and a steady relationship with your clients.
If you have a skill that is in high demand, you can offer your services on freelancing websites such as Freelancer.com and Upwork. These sites are useful for building a steady group of clients, but they charge commissions of up to 20%.
9. Create an Airbnb Experience
Airbnb is famous as a platform that people use to rent out their homes. However, the introduction of Airbnb experiences allows users to create and monetise skills that are related to their hobbies.
Some of the popular experiences you can set up include teaching people how to cook, sharing walking guide through the city, and so forth. You have to make sure that the experience is exciting, led by an expert, and not something readily available on popular travel websites. Also, you should include a provision to allow guests to participate in the experiences you create.
It is worth noting that Airbnb charges a service fee of 20% for listing you make on their experiences website.
10. Monetise Your Blog
Many bloggers in Singapore are earning substantial amounts of money from their online activity. Some are so good that they are considered the best choice for influencer marketing in Singapore.
First, you need to post to your blog regularly. People are always craving for fresh content, and leaving them starving will force them to seek alternatives. You should also understand the needs of your audience and deliver valuable content.
Once you have a steady flow of traffic, you can enrol for Google AdSense or start selling ad space on your website. You could also find sponsors who are willing to pay to get featured on your website. Such sponsors often pay because your site provides information that is valuable to their target audience.
11. Organising Events
People love going to events that teach new strategies and add value to their lives. For instance, if you have a website that talks on how to make money online in Singapore, you should organise occasional webinars or live events.
As of now, 58% of marketers in Singapore use webinars to promote their businesses, meaning that you can use them to make money. You have to ensure that the subject matter of the event is relevant, as this makes it easier to convince people to pay money.
Also, schedule the event such that you get the maximum number of viewers possible. For instance, if you are targeting the working population, you should hold the webinars during weekends or after regular operating hours during weekdays.
As seen above, there are several ways to make money online in Singapore. You can boost your income by engaging in these side-gigs and reduce overdependence on the salary from your fulltime job.
That said, online jobs require exceptional self-discipline, especially if you are a freelancer. Since you most probably will not have a supervisor, you need to plan well and stay away from potential distractions.
As always, make sure that you conduct adequate research before committing yourself to avoid regrets. With proper planning, you can use your side-gig to expand your skillset or explore alternative career options.
Get in touch with us for more tips on how to do digital marketing in Singapore. If you also want to become a professional digital marketer, we have several digital marketing courses that you can enrol in to become a professional.