Making Money By Selling Products Online

WHAT PRODUCTS CAN YOU SELL ONLINE?

You cannot make money, online or offline, unless you have something to sell, thus figuring out what that ‘thing’ shall be your first step. There are many things you can sell online, from digital products to physical items. Many people think about things that they enjoy or have a passion for when they are trying to start an online business.

For instance, if you are an avid collector of fridge magnet, why not get into the business of that? I have a friend who attended the same Internet Seminar with me a few years ago who are now successful in her online business, using fridge magnet as the base.

Another example, if you are a good proofreader or a certified translator, you could offer proofreading or translating services. The list of possible things that can be sold online is huge. Let us examine some of the different kinds of things one can sell online in order to build a successful online business.

PHYSICAL PRODUCTS

When we say physical products, they are actually any tangible thing that a customer purchases from you. While the list of possible physical products could go on and on, a few examples of physical products for sale can include but not limited to thumb drives, stickers, books, t-shirts, shoes, cookware, electronic gadgets, dresses and others.

There are many different companies selling physical products that are highly successful. People enjoy being able to click a button and purchase things that they want without having to leave their homes. This is one reason sites like eBay are so popular; individuals are able to find the things they want at cheaper prices.

NON-PHYSICAL PRODUCTS

In this category, there is a huge industry of non-physical products when it comes to online businesses. People are able to sell things without having to stock items, or ship anything to the customer. This is because the customer receives it immediately. Informational products are one massive part of this industry, and can mean anything from self-help e-Books to audio books, to guide on how to build things and much more.

Just a few examples of non-physical products include but limited to PIN numbers for refillable mobile phones, software, and pre-made website banners or logos. Non-physical products definitely have an advantage over physical products when it comes to delivering the product to the customer.

SERVICES

Another thing one can sell online is a service of some sort. There are hordes of freelancers who do this online every single day. For example, freelance writers, website builders and even flash programmers are working online providing a service and getting paid for their work.

There are other kinds of services one can sell online and it could be anything from proofreading manuscripts to selling insurance, will writing, vacation spots, and much more.

Selling a service online can be beneficial because many times there is an existing company that you can work for in order to sell those things. This means that you won’t have to start your business from scratch and do not have to come up with the money up front that most people need to start a business.

SUMMARY

Before you can build an online business, you will need to determine exactly what do you want to sell. Use your interests, passions, or hobbies to guide you as you choose from physical products, non-physical products, or services.

There are unique advantages and disadvantages of each type of product you can sell online, thus you will want to take these into account as well. Once you have determined what you want to sell, you can move on to setting up your own online business. As for me, I choose to run my Internet business by writing and selling e-Book.

Challenges Of Selling Digital Products

While there are many advantages to a digital business with digital products, it doesn’t come without its fair share of challenges. In addition to all the regular tasks of running a business, a digital business also has to deal with unique issues.

First of all, because there is usually minimal cost associated with creating and distributing digital products, the market can tend to be oversaturated. Anyone with an Internet connection and a video camera can create a training video, just like anyone with Microsoft Word can create an e-book. So not only does your digital product have be distinguishable from everything else that’s already out there, it has to be so much better than everyone else that you can actually sell yours and make money from it.

Actually, that’s only partly true.

While you do need to be able to make money off your digital products, you don’t have to make money off all of your products. Because there is no cost to store or copy these products, many businesses decide to give some of their products away for free. In principle, this will help build exposure to their company and their brand, generating return customers, which can then lead to increased sales. This can also help make up for when your digital product gets copied and redistributed without your knowledge or consent, which will happen. (This is another challenge; some people simply don’t want to pay for digital products.) While you can do what you can to help combat piracy, using that detail and actually encouraging people to share it for free may actually help advertise your business.

Speaking of advertising, this can be an additional challenge for this type of product. Online marketing is a completely different world than traditional marketing strategies, and brings with it fierce competition. The world of online marketing can be difficult to master, but is certainly not impossible.

With this business model, you also have to be sure your website is welcoming and easy to navigate, that people can easily and successfully order/download/access whatever they need to (at all times; you can’t just put up a “closed” or “out for lunch” sign), and that you’re website is secure. Customer service can’t suffer just because your product or service is digital.

However, none of these challenges are insurmountable. With the proper education and drive, you can overcome these and other challenges and reap all the benefits digital products have to offer.

Writing and Selling EBooks

A traditional business requires a lot of overhead to effectively operate. In a traditional business you will generally have to pay for office space, inventory, and a storefront where people can come and buy your products. You will also have to hire employees who will require paychecks and benefits. Not only that… You also have to pay for your inventory or create your own from costly raw materials.

Here are some of the benefits of writing and selling your own eBooks.

• Once written, you can sell an eBook again and again without having to create something new.

• Once your customer buys your product you have the opportunity to up sell your other products.

• Even if you can’t write you can hire someone to do it for you.

• eBooks do not require any raw materials like physical products do.

• eBooks don’t require you to keep stock, package items, or ship anything.

• Selling eBooks can be done from home very easily, so you don’t need storefront to set up shop.

• Most of your marketing is done online and many methods are free.

•You don’t need to hire any employees until your sales reach a level that requires a little help.

Tip—> Don’t worry if you can’t write, or if writing sounds scary… it can all be done for you for around $250-$500

• Once you begin to outsource, your eBook business can operate entirely on autopilot.

These are just a few of the many benefits of writing and selling eBooks over selling physical products in a regular brick and mortar type business. Trust me there are many more…

Ebook Profit Tips – 2 Golden Keys For Selling Ebooks Successfully Online

There are different aspects of the e-book business and not all of them might be beneficial for you. The fact of the matter is that different people are targeting different audiences with a variety of subjects. Hence, the writer selling e-books on Environmental Design will have to target a specific or niche audience while a writer trying to sell e-books on Treating Acne will have a different audience. Audience is extremely important because if you are not selling to the right customers then your e-book business will definitely hit a dead end in the long run.

You will need to identify your audience well before you actually start writing your e-book. Audience or probable customers can be categorized into different groups of segments like old-age customers, youth, children, customers in Asia, Africa or Middle East, European customers, industry specific customers like electronics, design, etc; and much more. Once you know who you are selling to, it will be easier for you to write for them.

The second most important aspect is having an automated selling system. Yes! Even in the cyber age there are many writers who prefer to sell manually. This can be time consuming and painful. It is considered to be an unfriendly customer experience and this can even make your e-book business suffer. When there are several payment gateways or payment service provider (PSP) available why take the chance? You can easily open merchant accounts and enjoy fast and secured payment transaction using an automated selling system and it will be easier for your customer too!

The bottom line is that the growth of your e-book business depends on what subject you are writing on and how streamlined your selling and transaction process is.