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10 Simple Ways to Promote Yourself
1) Develop a mailing list and use it. Most businesses have started creating web based mailing lists by offering a newsletter, but direct mail is still a valuable tool. Whichever route you choose, choose one! 2) Say "Thank you" when someone...
10 Ways To Kick Your Competition's Butt!
The internet is no longer a secret! It is becoming so inexpensive to start an internet business that it seems like everyone and their dog now has a website!
What's worst is that major companies have started to get involved in internet marketing....
9 Great Reasons To Help An Internet Marketing Newbie
Zig Ziglar the famous self help guru was once quoted as saying "You can get everything you want in life if you help enough people get everything they want in life."
No where is this more true than on the internet and internet marketing. I...
Instant Profits with Cross Promotion
Business is business. Whether you are marketing online or offline, the same principles apply. Yes there are differences, but think about the marketing tactics used offline that you can apply to your online business. Here's a quick idea that can...
Wireless Web: What's the Impact on Your E-Business?
All phones are created equal, but some are more equal than others. From Canada and California to Japan and Korea, Internet-enabled mobile phones are rapidly ushering in the next generation of online commerce: "m-commerce" or Mobile-commerce. ...
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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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