Deciding On A Product

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You’ve done your keyword research and discovered a great underserved niche that’s sure to be a hit. Now it’s time to decide on a product or products to sell. Perhaps, in your particular case, you should research a product first, then look into the niche to find out if it’s viable. Each case should be looked at separately. There’s no right or wrong answer

The only answer is … whatever works!

There are a number of choices, each with their own advantages and disadvantages. Let’s look at them.

1. AFFILIATE PRODUCTS

One of the best options for new web entrepreneurs is affiliate products. Do you know that there are thousands of companies online that want other people to promote their products? Companies both small and large are online and waiting for you to promote them – including Walmart, Sears, Amazon, Target, and many others. In addition, there are many smaller companies that you’ve probably never heard of, each anxious to sell their goods and each wanting an unlimited supply of salesmen/saleswomen – namely YOU!

This is a great way to make money online because you act as salesman/saleswoman for another company and when someone purchases, you’ll receive a commission on the sale. Think of it as a modern day version of the outside salesman.

A great book to help you get started is The Super Affiliate Handbook. You’ll learn everything you need to know to start your own affiliate marketing business.

Some companies run their own affiliate programs but most belong to large networks. To participate, you would sign up for the networks or programs, receive your own unique tracking link, place this link on your website or promote it in other ways, get people to purchase, and collect the commission.

One of the main advantages to selling affiliate products is there is no inventory to stock and thus, very little cost to start your online business as compared to other businesses.

If you want to participate, check out the following link networks. Although there are many more, I’ve listed some of the most popular here. You’ll find ample products to promote just using these few:

  • Click Bank “www.clickbank.com”
  • Commission Junction “www.cj.com
  • Clix Galore “www.clixgalore.com”
  • Link Share “www.linkshare.com”
  • Amazon “https://affiliate-program.amazon.com”

2. Your Own Physical Products

Although affiliate products are a great source of income, you’ll need to sell a lot in order to make a significant income. Commissions can range anywhere from 4% on Amazon, to 75% on Click Bank and anywhere in between. Selling your own products usually results in greater income because YOU are the one keeping the majority of the sale price, instead of receiving a small percentage.

In addition, when selling your own products, you keep the customer information instead of other vendors. This is a tremendous advantage, as you’ll be able to build an email list and market to your customers again and again.

What kind of products can you sell?

  • Videos or DVD’s and/or manuals offering instruction on a variety of topics.
  • Artwork: Sell your own created items on Ebay, or create your own vitual store on Etsy “www.etsy.com” an online store for craftsmen and women.
  • Graphic or other t-shirts.
  • Anything you can think of.

Find a need and create a product to fill that need, and watch the money roll in.

A big disadvantage with this method is that you’ll have to get many items created or manufactured and then stocked, which could involve a lot of cost and therefore, risk. If you don’t make sales, you’re stuck with your inventory and out major money.

3. Your Own Digital Products

A great alternative to physical products is creating your own digital products and selling them, either through your own website, or through an affiliate network that accepts digital products.

  • Ebooks
  • Videos
  • software
  • smart phone apps.
  • anything you can think of

Check out Click Bank to get ideas on the types of products people are selling or check out the book Get Rich Click. This book is literally LOADED with online money making ideas. Definitely worth the price to get your creative juices flowing.

Digital products are much easier to create, and since there is no physical product to produce, the cost is much less and therefore, so too is the risk.

Anything that fills a need and can help someone will probably sell.

4. Other Company’s Physical Products

Some people would call this a mail order catalog business. Many a millionaire has been created from this idea as there are many successful mail-order companies shipping millions of items.

There are 2 ways you can go about this.

1. Drop Shipping:
Many vendors will offer to “drop ship” items directly to the customer. Your website is designed so it “looks” like you’re shipping the items when in fact, they are shipped directly from the vendor to the customer. This is a great advantage to you, as you’ll need to carry no inventory.

Amazon.com is a great example of this business model. Although Amazon carries a huge number of products, they do not have in stock every item listed on their website. Many are shipped directly from the vendor.

2. You Ship Items:
You could create your mail-order catalog by purchasing products yourself, stocking and shipping them yourself to your customers.

However, this method is not for the faint of heart or technically challenged. Creating a mail-order company is quite involved. It includes doing everything you would do for digital or affiliate products, such as creating websites, marketing, accounting, etc. PLUS buying and stocking inventory, shipping products, customer service, and a host of other duties.

Creating a mail-order company can certainly be rewarding but it comes at a high cost and usually a long time frame to become successful. Go for it if it’s something you want to do – but I would not recommend it as a way to get started online.

5. A Service

Offering a service is probably one of the quickest ways to make money online. If you have a skill that others need, you could easily do quite well.

Here are some ideas:

  • Design websites for small companies, or revamp existing sites.
  • Graphic design – design web logos, ebook covers, brochures, and more.
  • Blogging – many website owners don’t have the time to implement social marketing and will hire others to blog for them, creating a social media presence.
  • Article Writing – many website owners pay others to do this time consuming task.
  • Anything web business owners need done, there will probably be a need for someone to do it for them.

These ideas are merely scratching the surface. The ideas are unlimited and can be implemented by anyone with creativity.

Find that niche, find a need within that niche, find a product to fill that need, and you’re well on your way to internet success.

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