If you're reading this, chances are that you've seen the latest viral trend online. Following trends isn't just for keeping up with friends; it's also a fantastic way to make money! The key to making money off of any popular item is timing. So let's go over some examples and see how much internet hype you can harness into cash.
Let's start with Kim Kardashian. Right now, she has released an "anti-perfume" called KKW Body. It has caused quite a stir in the news, but only time will tell if it becomes as valued or more valuable than her first perfume line (which sold out very quickly). If you wanted to grab this scent right now before it ends up on eBay for10x the price, you could try to sell it as a limited edition "vintage" scent.
You can also tap into celebrity gossip and make some cash by selling hats, shirts, jewelry, etc. with their faces on them. Remember those now-ubiquitous black and white Snapchat filters? If you had bought 5000 copies of each at $1 per copy, you would have made over $5000 before they were even out of style! Think of popular memes among teenagers right now... not just the ones that are currently trending online but even the more obscure ones that might be considered "over".
Using current events is another way to capitalize on the hype. For example, if there was some major scandal involving politicians in your area you could sell some shirts about it. The trick is to print them quickly and cheaply (out of China; they're pretty good at that), then sell the items before the hype dies down!
A more obscure way to make money off of hype is to sell your hype. Is there a new product you released and you want to get some free advertising? You can hire an internet promoter or just do it yourself! Just Google "buy Reddit upvotes" and sort the results by lowest price. Use this service to submit links on social media sites like Reddit, Facebook, Twitter, etc., then watch your profits skyrocket as people buy into the hype and investigate what they've heard about online!
There are endless ways to use the internet's love for the hype to make money. Just remember to act quickly and be prepared to sell it at a premium. If you try to prolong selling the item, someone else will buy out your entire stock and resell it for a much higher price. By the time you get around to selling it, that person has already made a ton of money!
Remember: to take advantage of trends among teenagers (like memes), you'll need to be in high school or college and have close contact with teenagers.
Common mistakes: not capitalizing on trends, not offering a time limit on the sale of an item, having to store and ship physical items around the world.
It's not always easy to predict what will be popular, but there are a few trends that can clue you in. For example, if something on the news is going viral, you might want to jump on it - just be careful with sensitive topics or trends that could go too far. A good way to ride a trend is to offer a product of similar quality at a lower price point.
For example, sell a book based on a popular topic. Pricing your product lower than everyone else's in the market lets you bypass the need to build up brand loyalty or credibility - because when people come for "the trend," they're not looking to buy quality. So go ahead and take advantage of this by cashing in on whatever is trending; just don't forget to jump ship when the next thing comes along!