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Cross Promoting Techniques that Work
Cross promotions are not a new idea. They have been used by businesses for a very long time. For example, a real-estate company may promote a certain lawyer to close a sale, as the lawyer will promote that agency in his firm. The system is somewhat...
Home Based Business Opportunity: Secrets Of Success In Home Based Business Opportunity, Exposed
Do you have a home based business opportunity or program?
Are you doing any affiliate program?
What type of home based business opportunity are you doing?
Are you a shining success in the home business opportunity that you’re doing?
Are...
How To Achieve Targeted Reach Through Banner Ads?
When you run a banner advertising campaign, your strategy should be to achieve as much focus as possible in audience profile and then look for ways to get wider audiences within that profile. You want targeted reach. Let’s look at some ways to...
Make Money Online: Work from the Comfort of Your Own Home
Copyright 2005 Harley Darby
With so many ways to make money online, what is the best way to work from the comfort of your own home without breaking a sweat?
To make money online requires skill and patience. This article will reveal the...
You Need the Amazing Power of Articles to Become Successful Online
Whether you are a newcomer to online marketing or you’ve been in the trenches for some time, you need to learn how to write zero cost articles and harness their amazing power to drive hordes of visitors to your website and email inbox.
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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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