With the financial climate being what it is – many people are looking to make extra income any way that they can and the internet provides many opportunities. One of these opportunities is that of drop shipping. It offers many advantages and should be something that is seriously considered when selecting which home business would be right for you.
So what exactly is drop shipping? It’s really being the middle man between a manufacturer or a supplier of physical products and the consumer. You will not need to keep an inventory of the products but will place an order once a consumer makes a purchase. The supplier would then ship the product to the address of the consumer, and you will profit in the difference between the wholesale price and the retail price.
So let’s look at the pros of drop shipping:
- You will not need to keep any inventory or stock
- You will not need to ship or package any goods
- Your main task will be in marketing and promotion of products
And what to watch for:
- It is essential that the products that you select to sell are in demand – to discover what is in demand, watch ebay, Google Adwords keyword tool and Google Trends to check how many people are buying and searching for those products
- Keep a close eye on the competition for prices and for products.
- Start small and build up. You will need to smooth out any hiccups with the ordering and delivery processes.
Our conclusion on drop shipping is that it is a viable business model for income, just as long as you do your research.
So you’ve decided that you want to sell products online. You’ve selected products, set up a website but are now at the stage where you are looking for marketing channels to promote your products. There are bucket loads of channels that you can use to market your products, whether they are affiliate products or even physical products.
Here’s a list of the most popular ones that are on the web. I suggest that you select a few that you fancy trying out and add them to your marketing plan. Assign a specific measurable goal on your plan too, for example, add 5 of your products to each channel. This will give you a clear idea whether the channel is suitable for promotion of a particular product. Once you find a channel that works for you – then you’ll need to scale up your efforts to make the best of it.
- Social media – Facebook and Twitter via news feeds
- Facebook – marketplace application
- Auction sites such as – ebay, plunderhere.com, bidville.com
- Pay per click advertising – such as adsense
- email marketing or newsletter
- ad in a printed trade industry publication
- local newspaper- in classifieds or via regular column
- blog posts
- ebook giveaway
- white paper
- local event sponsorship
- radio advert
- television advertisment
- online forums
- article marketing
- search engine optimisation
- free web seminars (advertise on Facebook)
- online directories such as hotfrog.co.uk
- relevant industry trade shows
- google products
There are plenty of other sites and methods that you can use to sell your goods. Many of the ones listed here are free – remember start small and once you find something that works, then build it up. Which ones do you use?
Solving problems is the bottom line of any business. This is what lies at the bottom of all money making too. The more problems you solve and the bigger they are – the more money you will make. You might be wondering what this has got to do with web marketing. Read on and you’ll see.
Lawyers are very highly paid and the bigger the case and more tricky it is to get out of, the more people will pay the lawyer to deal with the problem. The lawyers who make the most money are the lawyers that deal with the biggest problems. The lawyers don’t focus so much on how much money they are going to be making – they are focused on how they are going to solve these problems – and then they can ask for the money.
Let’s apply that to business. The bigger the problems that you solve for people, the more money they will pay you. By using the mindset of what you can do for people in terms of solving their problems, they more money you will make.
Steve Jobs of Apple, his focus is about giving people products that solve problems. He isn’t obsessing about how to get money from people – he is obsessing about solving problems. The result = money.
Apply this mindset to your business. The internet is all about solving problems and questions. Give them what they want – you can get what you want.
If you are fairly new to making money online, then it could well be that I have caught you at just the right time to impart some valuable information. Many of my clients ask me how to monetise their sites once they have set them up. However, what they sometimes haven’t realised is that it is essential to pick the right niche before you start.
If you haven’t picked your niche yet, then think about topics that you have some experience in or at least more then a passing interest in. For example, I have a friend who has a particular medical complaint – they have managed to make a lot of money from this complaint and are now considered one of the authority sites online for it. They sell products, information and even have a membership site that includes a forum for people to discuss their ailment.
Brainstorm a few ideas such as topics that you are intested in and areas that you know something about. Then you need to do some research. Take a look at what sites currently exist for the areas that you have listed. Can you set up a website that approaches the topic from a unique angle, but one that could potentially make you money and gain traffic?
Once you have discovered a gap in the market, you could well be on your way to making some good income from your website. Look to see which products and information that can be sold from your site. Then you need to build it and start marketing. Let me know how you get on.