|
|
|
A World Outside The US
With the exception of myself and a small handful of very remote and isolated journalists, no-one today bothers writing about the growth of the web. It's old news, and we already get it. Today's buzz is more about reaping the benefits of...
An Action Plan For Marketing Your Web Site (Part 2)
ADD YOUR URL TO YOUR MARKETING MATERIALS A couple of months ago, I met with a client who launched their Web site in 1999. They were discouraged because their site was generating poor traffic. When I asked them if they had added their URL to their...
Breathe Life into Your Home Business
Have you been struggling with sales? Are you lamenting that you haven't made a single cent from your online business, and that no matter what you do, you just haven't been able to secure any sales?
Well, if it's any consolation, you're not...
Google's Sandox is Alive and Well - Official !
Sandboxes and Google
Sandboxes are used to "quarantine" things in the real world (you
keep all the sand in one place that way, in theory, but then
again have you seen the trail from a kids sandbox?, still I
digress), the term being...
Jagger and the age of business failure. For what?
Jagger and the age of business failure. For what?
The latest Google update, Jagger, has search engine optimisers
all around the world in a state of disorientation. With Jagger,
Google once again attempted to outsmart huge numbers of...
|
|
| |
|
|
|
|
|
|
What should I sell On-Line
One of the first things you will have to decide when setting up an Internet business is whether you want to sell a product or a service, both of which have their advantages and disadvantages.
Products:
Advantage: unlimited income potential because you are not constrained by time, the way you are with a service (the more product you sell the more income you make - especially when you are automated).
Disadvantage: requires stocking and shipping (or drop-shipping from a supplier).
Disadvantage: generally requires you filling large amounts of orders to make a reasonable living, unless you have a product with a very high profit margin.
Services:
Advantage: it is easier to make a profit quickly because the entire price of a service is paid to you (except for any overhead).
Advantage: services can generate a great residual income because the client may want to hire your services again and again.
Disadvantage: you are limited to a modest income because you can provide only so many services each day (unless you hire employees to perform services for clients).
In my opinion, selling a
product online has, by far seen the biggest profit potential in the long run. Once you get a successful product, you can automate the system and move on to new products that will generate multiple streams of income.
If you need immediate cash flow, providing a service is the fastest way to produce instant income... but it will never pay off as big, in the long run, as selling a product with a high profit margin.
If you sell a service, think about how you can transform it into a product. One of the best examples I can think of is regarding the people who submit websites to search engines. Because the competition got so fierce and their business began to suffer, some wrote and sold reports revealing how search engines work and tricks for getting sites listed higher etc. The reports were priced at $20 -$100, and the entrepreneurs in our example found new markets to tap.
I hope this helps in your future marketing decisions.
About the Author
David Bell is Manager, Online Marketing, at http://www.wspromotion.com/ , a leading Search Engine Optimization services firm and Advertising Agency.
|
|
|
|
|
|