Top 8 Ways To Make Money Online in Europe: Uncovering the Demand for Each Model

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Top 8 Ways To Make Money Online in Europe: Uncovering the Demand for Each Model

November 6, 2024

by Ippei Kanehara

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How I make $52K per month

The top 8 ways to make money online in Europe are:

Generating leads for small businesses
Writing and selling e-books
Joining e-sports and gaming competitions
Selling stock photos
Reviewing online games
Doing online bookkeeping
Selling SaaS products and services
Planning virtual events

Making money online in Europe is popular because of its profitability. Flippa says that mature e-commerce European businesses earn €19,954 ($21,497) on average. The top 10% of these companies generate €110,590 ($119,141) per month. You can make $100 (€92) a day or more through various online ventures in the UK and other European countries. This is because of the high number of internet users in the EU. The European E-Commerce Report of 2024 reveals that 93% of Europe's population uses the internet. 71% are e-shoppers aged 16 to 74.

As an online entrepreneur, you have a massive market for different digital products. These include membership sites, subscription services, and lead generation assets. Famous models for influencers are YouTube channel monetization and online coaching programs. Content creators prefer digital marketing niches like social media management and copywriting.

You can make money on the Internet in Europe if you have the right marketing and content strategy. This proved true in Spencer Mecham's Buildapreneur YouTube channel. It generates €891,100 ($960K) yearly through affiliate marketing with zero startup costs. Spencer uses viral content ideas and consistent posting to capture his target audience.

Mobile commerce (m-commerce) also drove the demand for online businesses in Europe. Ecommerce News Europe states that this continent has the highest mobile penetration rate. Eastern and Central Europe are at 151%, while Western Europe is at 129%. Consumers in the EU are using mobile phones to shop online or avail of services. Some examples include mobile games and apps, e-books, and online tutorial services.

Amazon penetrated the EU's niche marketplaces by adopting a mobile-first strategy. It used its mobile application to attract customers in Germany, the UK, France, Italy, and Spain. Amazon EU hit an annual revenue of €51 billion ($47B) because of this online marketing strategy.

Making money online in Europe offers opportunities for individuals seeking financial independence. I have been making over €46,400 ($50,000) monthly in passive income since 2014 because of digital assets. Many entrepreneurs choose online businesses in Europe because of:

low startup costs
location independence and flexible work hours
access to the EU and global markets
availability of automation and AI tools
scalability

However, some aspiring business owners struggle to find the right business model. That's why I'll talk about the top ways to make money online in Europe. I'll also discuss each online business' income potential and current demand.

1. Generating Leads for Small Businesses

Local lead generation is a scalable way to make money online in Europe. This method generates around €460-€1,845 ($500-$2,000) monthly per niche site. Local lead generation has less competition, low startup costs, and high profit margins. Entrepreneurs choose this business model because of the:

popularity of local search for brand awareness.
increasing number of internet users in the EU.
growing adoption of digital advertising.
rising demand for consumer intelligence.

Eurostat data shows a 58% digital intensity for small and medium European businesses. These local enterprises are building their digital presence to get more customers. Local lead generation connects clients with their target market. To generate leads for small businesses:

Identify high-demand local services using tools like Google Trends, SEMrush, and Ahrefs.
Create targeted websites or landing pages through platforms such as WordPress and Wix.
Use SEO to rank on search engine results pages (SERPs).
Sell qualified leads or rent out lead gen sites to local businesses.

plumbing services in Germany search results

plumbing services in the UK search results

Popular niches in Germany and the UK include plumbing, roofing, and legal services. Local lead generation works well in countries with diverse urban centers.

Theo local lead generation testimonial ippei and dan course

Theo shares his success in landing his first website client in the UK after taking Ippei and Dan's course. He made £275 ($357) from a client's 50% down payment within 4 weeks. His strategy involved targeting home renovation businesses without websites. Theo searched on Google Business sites, Google Maps, and Facebook for affluent areas. He made around 200 cold calls and created preview sites for interested prospects. Theo secured the deal using a Google Slides presentation addressing specific requirements.

local lead generation Google Trends result

The demand for generating leads for small businesses hasn't dropped since August 2021. Post-pandemic digital transformation has changed consumer behavior. Potential customers favor online research for local services.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

United Kingdom (25%)
Ireland (17%)
Russia (13%)

2. Writing and Selling E-Books

Writing and selling e-books has emerged as a lucrative way to make money online in Europe. Aspiring self-published authors can expect an average revenue per user of €25.25 ($27.37). This translates to around €11,762 ($12,749), according to the Alliance of Independent Authors. You earn royalties from each sale after the platform takes its commission. Self-distribution sites like Amazon KDP are free to use and offer 60% to 70% royalties.

This method has minimal production costs, international distribution potential, and flexible pricing options. E-books cover a wide range of topics, from fiction to non-fiction. As a freelance writer, you get to capitalize on your expertise or creativity. This model involves creating digital content and formatting it for e-readers. To create and sell e-books:

Plan your content and write your first draft.
Outsource proofreading and cover design or do it yourself. Tools like Canva and Adobe help you design an attractive cover. Self-publishers often use Reedsy Book Editor for DIY formatting.
Register on distribution platforms and set your pricing strategy.
Upload your e-books to sites like Amazon KDP, Apple Books, or Kobo. Optimize descriptions and categories.
Create an online presence. Engage your target audience on social media and run strategic promotions.

Opt to DIY your e-book writing and selling process. This entails around €0 to €276 ($0-$300) for minimalistic formatting and a self-made cover. The digital format reduces production costs. It yields higher profit margins compared to traditional publishing.

The demand for e-books increased in March 2020. It stabilized at 25% to 50% from then on.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

Greece (100%)
Denmark (66%)
Netherlands (51%)

3. Joining E-Sports and Gaming Competitions

E-sports and gaming competitions are thrilling opportunities to make money in Europe. Major European tournaments like DreamHack offer prize pools that exceed €500,000 ($542K). In fact, ESL One opened its Birmingham tournament in April 2024 with a €900,000 ($1 million) cash prize. Top European players and teams earn over €100,000 ($108K) yearly.

Joining e-sports in Europe requires little upfront investment compared to other ventures. You only need spare time and gaming skills to make extra cash. E-sports players have strong sponsorship opportunities with brands like Red Bull and Adidas. Plus, Europe has an enormous market for online gaming platforms. These include League of Legends, Counter-Strike, and FIFA. To join e-sports and gaming competitions:

Select a competitive game to focus on. Research its esports scene, prize pools, and player base.
Build your skills by practicing daily. Study pro strategies, maintain high rankings, and use training tools to improve mechanics.
Join a community by entering online tournaments. Find teammates, use platforms like FACEIT/ESL, and network with players.
Gain visibility by streaming your gameplay. Build a social following, create content, and participate in local competitions.
Join an amateur team and compete in qualifiers. Seek coaching and consider gaming academies.

Johan "N0tail" Sundstein from Denmark stands as e-sports' highest earner. He amassed over €6.5 million ($7.1 million) through Dota 2. Johan is a two-time champion of The International with Team OG. He's an expert in transitioning from a carry to a support role.

Search interest for e-sports careers is highest in Nordic countries and Germany. However, the demand for e-sports and gaming competitions has fluctuated since October 2019. It has continued to rise above 31% since December 2023.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

Spain (78%)
Portugal (59%)
Finland (58%)

4. Selling Stock Photos

Selling stock photos is a simple way to make money online in Europe. Peter Orsel reveals that stock photographers earn around €0.046 ($0.05) per file. Average income ranges from €460 ($500) to €3,800 ($4,200) monthly. According to PetaPixel, Switzerland has the highest average salary at €84,700 ($91,952) per year. However, this depends on the niche, image quality, and variety of photos you have.

This method allows photographers to monetize their skills. They capture and sell high-quality images to businesses, marketers, and content creators. Plus, they don't have to worry about customer service. Individuals earn from the same photo on different platforms. Some top websites for selling stock photos are Shutterstock and Adobe Stock. To sell stock photos:

Research market trends and popular themes. Invest in quality photography equipment and editing software to produce professional-grade images.
Perfect your technical skills: lighting, composition, and post-processing.
Categorize your images using relevant tags and keywords.
Submit photos to multiple stock platforms to maximize exposure and earning potential.

Reddit user makes $100 to $200 selling stock photos

Redditor makes $600 to $3000 selling stock photos

One Redditor makes €92-€184 ($100-$200) monthly selling on Alamy, Adobe, Shutterstock, and Getty. Another Redditor revealed earning €550-€920 ($600-$1,000) monthly. He is an exclusive contributor on iStock and Getty. His income goes up to €2,700 ($3,000) for doing custom content briefs.

The demand for stock photos dropped in September 2020 because of AI platforms. But, it peaks during the holiday season when businesses seek fresh imagery. It has stayed above 51% since the beginning of 2024.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

Estonia (69%)
Slovenia (57%)
Latvia (57%)

5. Reviewing Online Games

Reviewing online games has become a famous way to make money online in Europe. PayScale and Glassdoor state that freelance game reviewers make €50-€200 ($54-$217) per review. According to Salary Expert, game reviewers in the UK earn £43,991 ($57,110) yearly. Potential earnings vary based on platform, audience size, and engagement.

This method involves playing and evaluating games. Reviewers get to work anywhere with a good internet connection. It's a good opportunity for gamers, game designers, vloggers, and writers. Popular platforms for game reviews are YouTube, Twitch, and IGN. To review online games:

Test all core gameplay features. These include multiplayer functionality, server stability, matchmaking systems, and connection quality.
Evaluate monetization systems and microtransactions. Observe their impact on gameplay balance and progression.
Document technical performance. These include frame rates, load times, bugs, and optimization across configurations.
Assess social features like chat systems, guilds/clans, friend systems, and community moderation.
Review the user interface. Focus on menu navigation, control schemes, and accessibility features.
Write a balanced critique. Incorporate an objective technical analysis and a subjective player experience perspective.

Raúl Genes, also known as AuronPlay, earns €218,798 ($237,500) monthly. He reviews games on Twitch and YouTube. Raúl has achieved 12.5M+ viewer hours and 14.7M followers within a few years. He is famous for reviewing games like Minecraft, Roblox, and Back 4 Blood.

The UK stands out as a prime market for game reviewers because of its large gaming population. It has consistent search interest in Northern and Western Europe. Demand peaks at 80%-100% every fourth quarter of the year.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

United Kingdom (51%)
Ireland (32%)
Netherlands (11%)

6. Doing Online Bookkeeping

Online bookkeeping has emerged as a lucrative way to make money online from home in Europe. According to Upwork, the average salary for online bookkeepers ranges from €10-€23 ($11–$25) per hour. Glassdoor and Indeed reveal that entry-level positions often start around €25K ($27,100). Experienced virtual bookkeepers make closer to €50,000 ($54,200) yearly.

This model offers flexibility and steady income potential for those with financial acumen. You get to work with multiple clients and businesses to earn extra income. Bookkeepers manage financial records, track transactions, and ensure accurate accounting for businesses. Popular platforms for finding online bookkeeping clients are Upwork, Freelancer.com, and PeoplePerHour. To start online bookkeeping:

Set up cloud accounting software and integrate it with the client's banking systems.
Establish secure document-sharing systems for invoices, receipts, and financial statements via cloud storage.
Create automated workflows for regular transactions, bank reconciliation, and recurring invoice processing.
Implement clear categorization systems for income, expenses, and different revenue streams.
Schedule regular client check-ins and reporting cycles for financial updates and reviews.
Maintain digital audit trails and backup systems for all financial transactions.

Reddit comment on online bookkeeping in Europe

This Redditor started an online bookkeeping business in Europe. He has served U.S. clients for 7 years. He gets most of his work from referrals from CPAs and fixing books that were poorly done by others. This Redditor charges flat monthly fees rather than hourly rates.

The UK, Germany, and France show a high demand for online bookkeeping services. These countries have robust business ecosystems that require financial expertise. Google Trends data show growing interest in Ireland and Russia. Since January 2023, search intent hasn't dropped below 51%.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

Ireland (52%)
United Kingdom (30%)
Russia (4%)

7. Selling SaaS Products and Services

Selling Software as a Service (SaaS) products and services is a good way to make money online in Europe. According to Indie Hackers' communities, SaaS startups earn €1K-€5K ($1,085-$5.4K) MRR on average. Mosaic.tech reveals that successful SaaS companies make 80% to 90% in gross profit margins. You can increase your Average Revenue Per User (ARPU) by cross-selling complementary features.

This online business has high scalability and recurring revenue potential. It involves selling software applications over the internet. Customers pay for access rather than owning the software outright. Use platforms like Salesforce AppExchange and Microsoft Azure Marketplace. To sell SaaS products and services:

Offer a limited free version.
Reach out to potential customers through calls, emails, and meetings.
Build relationships with complementary businesses and platforms to expand market reach.
Create engaged user groups that promote your product and provide feedback.

Intercom is a Dublin-based company founded by Des Traynor. This successful SaaS company has a €46 million ($50M+) annual recurring revenue. Its subscription model combines seat licensing, CRM contact volume, and product suite selection. Intercom's growth strategy centered on customer acquisition through targeted content marketing.

The European SaaS market has the highest search interest and adoption rates. It grew by 46% from November 2019 to October 2024.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

Kosovo (80%)
Ireland (60%)
Lithuania (40%)

8. Planning Virtual Events

Planning virtual events has emerged as a lucrative way to make money online in Europe. According to Starter Story, profit margins reach up to 93%. This translates to around €40K-€80K ($43,400-$86,800) in revenue yearly. Salary Expert reports an average salary of €58,113 ($63K) per year for event planners in Germany. Potential income varies depending on the country, the size of the event, and the client.

Virtual event planning involves organizing and managing digital gatherings. These include online conferences, webinars, and workshops. This method offers flexible service offerings, easier collaboration, and environmental sustainability. Popular platforms include Zoom, Hopin, and Glue Up. To plan virtual events:

Define clear event goals and target audience.
Choose an appropriate virtual platform. Consider the features, capacity, and technical requirements needed.
Create a detailed timeline. These include pre-event testing, rehearsals, and backup plans for technical issues.
Develop engaging content through presentations, interactive elements, and scheduled networking breaks.
Train speakers and staff on platform tools, virtual presentation skills, and troubleshooting basics.
Test all technical elements, including video, audio, screen sharing, and chat functions.
Prepare attendee communications with login details, agenda, technical requirements, and support contacts.

SmartWorks Events is a Spanish destination management company. It has grown beyond traditional event management, expanding into high-quality virtual solutions. The company organizes everything, from small meetings to international congresses across Europe. According to ZoomInfo, SmartWorks Events has achieved a €4.6 million ($5M) revenue.

The demand for virtual events has dropped globally since January 2021. However, Google Trends data shows increasing search interest for "virtual events" across Europe.

Countries With the Highest Demand (% increase in interest from 2019 to 2024):

United Kingdom (40%)
Ireland (33%)
Switzerland (9%)

Why Consider Local Lead Gen Over Other Online Business Models

Local lead generation is 3-4x more profitable than other online businesses in Europe. It generates around 80% to 95% in profit margins. Other business models like affiliate marketing only offer a small percentage of commission. Some online ventures like Amazon FBA need physical inventory. That's why most entrepreneurs find it hard to scale their businesses.

Many online business models suffer from market saturation. This leads to an unpredictable income and limited scalability. With local lead generation, you focus on a smaller market. You have less competition. Plus, you can build your own digital assets with this method. This gives you greater control over your business, profits, and clients. You don't need to rely on third-party platforms, suppliers, or low-quality products.

Local lead gen involves creating websites for specific services in targeted areas. You rank these sites in search engines like Google through SEO. I have followed this process for over 10 years now. It drives free traffic that you can sell to local businesses. Each lead gen site earns around €460-€1,845 ($500-$2,000) monthly in passive income. I have been earning over €46,000 ($50,000) per month since 2014 with multiple sites.

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Ippei Kanehara

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$52K per month providing lead generation services to small businesses

Ippei.com is for digital hustlers, industry leaders and online business owners.

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