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A new Web Marketing ROI Calculator - Part 1
In the beginning, search engine marketers were only concerned about top 10 rankings. Do you remember those days? Then, as things progressed and we began to work "smarter," we began to take note of how those top 10's were actually converting to...
Be Human Online
How hard is it really to be human online? If you ran a brick and mortar business, wouldn't you be personable and friendly to everyone who visited your store? Why should you be any different with your e-store? It is so easy to hide behind the...
How I Write Articles For Profit
Copyright © 2005 Steve Shaw Most Internet marketers worth their salt know how effective articles can be to generate promotion for their web sites. The major problem for many is simply writing the article. This article shows you the exact steps 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...
Six(6) Ways to Promotion Success!
I have been promoting websites on the NET for some time now, and have seen many marketing stategies come and go. You've seen it, Expert A(Dr. Know-It-All) told you to go to his website for the very BEST promotion on the net. "I''ll do everything...
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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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