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5 Ways To Get More Out Of Your Favorite Coupon Website
Last year, online shopping generated more than $66 billion
dollars and that number is estimated to increase to
approximately $79 Billion for 2005. As online shopping continues
to grow, it is becoming increasingly important to shop smartly.
There...
How To Build up Traffic Online For Free, Without Spamming
Why would you want a linking strategy for your site? The most
important reason is to drive traffic to your site, which in turn
would increase visitors that would either purchase from you,
make your web site more popular, or reach a larger...
Search Engine Metrics… Organic Search vs. Paid Placement
Let me preface this report by citing advertisers in 2004 have spent 4 Billion dollars on search engine marketing according to (SEMPO) the Search Engine Marketing Professional Organization. Website marketers cited Search engine positioning was the...
Unique Selling Propositions - USP's
Got one? Two? Three? If you have competitors, then you should have at least one Unique Selling Proposition (USP). The more REAL ones you have, the better - for your Branding, your business recognition, and your sales! We all have competitors,...
Your Words Will Determine Your Business!
Copyright 2005 Arun Pal Singh Be careful when you write. Words you use, sentences you phrase will reveal what you are. We come across so many examples daily. There are sales letters that I do not even bother to go beyond first few lines. There...
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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.
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