Selecting the Right Product Or Service to Sell Online

Your selection of a product/service is of critical importance. The subsequent steps in your action plan will be determined by what you are selling. When looking around for products/services, think about the following:

Is there an existing demand for this?

In general, you should fit a product to an existing market & not try to create a market for a product. Although the odd freak product like the Pet Rock or Cabbage Patch Doll defies this rule, the majority of ventures which try to create a market for a product are dismal failures. In selecting your product, remember to give people what they want not what they need – people generally ignore what they really need because they are distracted by what they want. Successful products will generally fulfill one or many of people’s dominant desires:

• to be healthy
• to look better
• to attract the opposite sex
• to make money
• to escape physical pain
• to save money
• to feel safe
• to be self-confident
• to be successful
• to save time
• to have more leisure time

Sex, Health, Self-Improvement & Money are areas which tend to sell very well, but the competition is ferocious. If you want to crack these markets, don’t be discouraged by how many others are selling – they are selling because people are buying. Just do it better!

Online porn is probably the biggest seller on the net, but there are other less offensive ways to tap into the sex market. You can sell sexual self-help books (“How to Become a Better Lover”) or sexual products (specialty lingerie, sex toys, erotic fiction). Let your imagination flow. The point is that there is a huge demand for all things sex.

Health is another great market because so many of us are concerned with living healthier & longer. The diet craze is a multi-billion dollar industry. Fitness is also a money maker; just check out the late night infomercials. Herbals & vitamins are a huge market as well. Magnet therapy is a booming industry.

Self-improvement/motivation is another burgeoning market. These products are generally book or course based. Everything from “Unlocking Your Infinite Personal Potential” to “How to Give & Get the Most from your Relationships” exists. Don’t think self-improvement is big? Watch Oprah for a few days. Her show reaches millions daily & is completely focused on self-improvement. Every self-improvement author who appears on the show is guaranteed a best-seller. There is a shift going on in society which sees people looking for inward change. Now is a good time to be a supplier of such materials.

Money is huge as well. There are thousands of “how to make money” products which generally target the home-based business segment. Infomercials on get rich quick schemes are all over the dial on late night TV. These are big & most of them offer distributorship deals. Almost everyone’s ears will perk up if you tell them you have a way to increase their cash flow without a lot more work. That’s why these programs sell like hot cakes – we are all looking for the easiest way of the 30 year treadmill.

Products in high demand offer the buyer a quick & easy to implement solution to a problem. The following products are proven winners:

• kitchen products
• diet products
• exercise products
• pet products
• money-making systems
• cosmetics
• self-defense products
• home security products
• home remedy (herbal/vitamin) products

If you can sell consumable products that require regular replenishing, you will insure that most 1st time customers become lifetime buyers. But even these guidelines are a little meaningless because there is really no absolute way to know if a product idea is worth investigating without doing some legwork to test the demand for that product.

There is no absolute rule for what products sell – it’s an ever changing landscape, so the best approach is to learn a repeatable process for selecting what you can sell profitably.

A good approach to picking winning products is to 1st find a market, then identify products that satisfy the demand already present. If you get caught up in product selection without tying to an existing market, you are dead before you have begun…This is the critical mistake that most business start-ups make.

The Difference Between Niche Marketing and General Online Marketing

Online marketing is a popular method of spreading the word about products, services or information on the Internet. Companies from small local business to bloggers to large corporations advertise and market their products and services online. One of the reasons why people jump to the Internet every time they want to get the word out about something is because there are billions of Internet users all over the world. People search for all types of information and products while they are online, so it is very easy to get information to a ton of people very quickly.

The one issue with getting the word out to people on the Internet is that search engine marketing has to be used in order for people to easily be able to find the information or products that the company or person is marketing. This field is very competitive and millions of websites, people and companies are trying to get their products or services noticed. There are two major types of search engine marketing; niche and general. Here are the differences between the two:

  • General marketing does not typically target a specific group of people, while niche marketing targets a demographic of people who are going to be the most likely to buy products, services or read the information that they are providing.
  • Niche marketing uses very specific and targeted keywords in campaigns, where the general method often uses broad keywords that are very competitive and expensive.
  • Since general marketing often reaches people who have no interested in products or services that are being offered, the conversion rate is often lower; money is wasted and time is also thrown away.
  • General online marketing using search engines can be done when a company or person is marketing a lot of different products or services, but niche marketing is often used when a person or company is campaigning for one product or service (even though they may offer more).

Each type of search engine marketing is meant for different situations, but people often cross the tactics and use them both in order to achieve online marketing success. Niche marketing is becoming popular as Internet marketers look for a way to have success without having to deal with all of the competition that general search engine marketing provides.

Creating A Website To Sell Products Online

Creating a website to sell a product online is a task that might seem simple, but there are several entanglements that could hamper your success.

One of the main problems with creating a website to sell a product online is that you will need to have a competent webmaster to set up your website. You will need to find someone with experience, who can help you be visible.

Finding an experienced webmaster isn’t that difficult, but it can be very expensive to have a website built for online success.

One of the ways to offset the expense of creating a website, is to use replicated websites. Replicated websites used in your niche market can be used very successfully. These websites can be obtained for a fraction of the cost of having a website built for you.

You can also go to ClickBank and you’ll find several vendors that sell replicated websites in your target market. Some of the vendors will want a one time fee; others will want a recurring monthly fee for using the replicated website. Use your best judgement to determine what is best for you.

There is another option with regard to solving the problem of creating a website to sell products online, and that is that you can partner with an affiliate marketer and market the affiliates products or services. There are many prosperous affiliate marketers online, who have not created a website to sell online goods or services, yet they are prosperous because they have partnered with someone who know how to build a website and the affiliate has tested the copy and the websites images, to determine which copy and images performs best.

This model of partnering with an online partner is similar to being a franchise owner. In a regular brick and mortar business as a franchise owner, you do not have to “create, ” a product or service, you only need to follow a proven pattern to become successful.

The franchisor has done all the “heavy lifting” in order to get the business started. This is the exact model used to become an affiliate marketer. The affiliate has done all the start-up work needed for you to become a successful affiliate. In essence by being an affiliate, you are tucked in a safe haven for online marketers. By being an affiliate you are not saddle with all the hassles that the creator of the products must address. Concerns like finding the best product to create. Or, finding good marketing strategies. Then there is the problem of transporting the product or service to the market If the product is a tangible product, this creates more of a challenge to get the product to the market. Finally, how do you receive payments for your product from the customers?

These are all concerns that need addressing before you can become a successful online marketer. As stated earlier, affiliate marketing offers comfort from all of the above mentioned problems. However, there are still two major problems that the average marketers must address.

Number one, is promoting the affiliates website. It’s one thing to join an affiliate program to sell their products or services online, but it takes competent skill level to properly promote your website online. It can be quite costly to advertise a website online. Many marketers give up their online business, because they can’t get traffic to their affiliate website. Often they run out of money trying to promote these online websites. Google AdWords advertising, MSN, and other pay per click advertising can be costly. Many other affiliate marketing strategies are costly. Methods like magazine advertising or post card marketing can put you in “the red, ” quickly.

Let’s look at an example of how you can easily spend your way into oblivion by trying to promote a website. The cost to advertise via pay per click could easily cost you $200 – $500 per month if you are hoping to get in the top 5 for ad posting with Google. Ad clicks hover around one dollar per click and you are wanting to get 200 to 500 clicks, per word then you will spend anywhere from $200 – $500 per month.

Other methods of advertising could be costly as well. For example, advertising your site by using ezine ads in a good converting ezine, could easily cost you $200. 00 to $600. 00 per 50, 000 readers.

Voice broadcasting cost roughly, $30. 00 to advertise to 3000 prospects. Multiply these numbers by 7 times in order to reach roughly 20, 000 prospects, and you are out of over $200. 00.

The point here is that good paid traffic is very expensive. That leads us to the number two problem with affiliate websites. That problem is that the owner of the affiliate program, pays to little in commission to the affiliates. Typically, the commission pay, pays out anywhere from 40 to 60 percent for the affiliate product being offered. The problem is that if your conversion rate isn’t converting high enough, then your cost to advertise your website will keep your website business from being a profitable online business, due to much overhead.

Finally, creating a website to sell products online is both challenging and rewarding. Getting a product or service that is needed, yet unique would be ideal. Also getting a product that pays enough commissions to overcome debts caused from promoting the product or service, and render a profit, would be ideal.