Understanding the different types of products you can sell onlineApril 25, 2013
Do You Own A Business Or A JobMay 7, 2013
Which approach will you take AND How will you move forward?
This decision is super IMPORTANT and will ultimately save you a ton of money and time down the road.
*but let’s also be clear – you can always change your mind at anytime!
Which approach will you take?
- Affiliate Marketing
- Information Marketing
- White Label Marketing
Obviously each has its own set of pros & cons. Here’s a quick list for you.
Pros: easy to get started, plenty of products to choose from, limited web presence or design needed, low barrier to entry in terms of costs and energy. you can run this business from a laptop anywhere in the world
Cons: there are literally so many choices that it can cause paralysis by analysis, not all products are equal or trustworthy, getting traffic to your affiliate offer can be difficult, you typically make 10% – 50% commission per sale, commission payouts are usually 30 – 60 days from point of sale
Pros: you keep 100% of the commission, the sale money goes directly into your account at point of sale, you can have affiliates sell your product for you. you can run this business from a laptop anywhere in the world
Cons: it typically requires a lot of work and time to develop a good information product, it usually requires some sort of investment to get the product packaged into a professional looking product (eBook / DVD covers, website graphics, presentation layout & graphics, etc…)
White Label Marketing
Pros: a little more involved than affiliate, but still rather simple to get started, you can choose from products that are already selling well in the marketplace thus giving you a jumpstart on marketing, typically you can have everything drop shipped direct to customer therefore creating a nice automated business that you can run from a laptop
Cons: it requires some research and planning and some capital for label printing & sometimes purchase orders from the company you are white labeling products from. In my opinion this option has the highest risk without any substantial upside to the other 2 strategies
Once you have made your choice on the strategy you will need to determine … HOW will you move forward?
In my opinion the first two strategies will require the same approach: setting up your very own WordPress site. The white label approach is probably best done directly through the worlds largest retailer, Amazon. If you think the white label strategy is best for you then you will most definitely want to get this system today … it will get you up and selling ASAP!
*disclosure – I have yet to devote any time to selling white label products, but I anticipate doing so in the future.
So for right now I want to focus on the first two strategies: Affiliate Marketing & Information Marketing!
Regardless of which you choose, you are going to need a WordPress site. Now this very simple step will seem daunting to some of you (don’t worry though, if it seems daunting to you CLICK HERE to have your site setup for FREE). The big reason you want to have a WordPress site for either option is because you are going to need content and the ability to quickly setup landing pages with email opt-in forms.
Next you are going to need a really powerful email marketing system … once again there are plenty of choices, but my top 2 favorites are:
- Aweber – click the link to try it out for just $1! Aweber is by far the best in its class and for this price point I promise you none of the others compare to the marketing power you get with Aweber.
- InfusionSoft – after using the other email programs I upgraded to Aweber, then I upgraded to InfusionSoft 2 years ago and have not looked back. Plain & Simple it is the overall champion! In the words of a top marketer whom I met at InfusionCon 2013, with InfusionSoft you can accidentally create a Million Dollar Business.
You need one of these email marketing softwares so that you can embed webforms (like the one on the bottom of this page) directly on your blog and the landing pages that you will want to setup. **Yes there are other programs you can use like Constant Contact and Mailchimp and GetResponse … but none of them compare to the 2 favorites listed above (Trust Me!)
Ok now you have the 2 of the 3 foundational components to your online marketing business, and once you add the 3rd component you will have the ability to run a 6 figure business online with these 3 things alone.
The 3rd component is CONTENT! I will discuss CONTENT in great detail in my next post, but in the meantime please know that without content your business will be very limited and so will your income.
So start thinking about content … here are some ideas to get you started:
- what are you passionate about
- what do people consistently ask you about
- what are your hobbies
- what have you had training in
- what did you go to school for
- what previous jobs have you had
- what would you like to know more about
- where are the information gaps in your professional career/industry
- what would you do every day for free if money was not necessary
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You can read the previous post in this series here:
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