Fact: There are far more people wishing to make substantial incomes from home over the Internet than there are actually doing it.
That’s an obvious statement to be sure, but why is that true?
One factor often overlooked in my opinion is that many people make poor selections when choosing what they should sell.
People, more often than not, decide what business to enter based on emotion, excitement, or other’s success. Rarely, do people take the time to critically analyze what they will be getting into and whether or not it will be suitable for them.
Now, even if you’re already comfortable in what you are doing, thinking through the following set of questions will be beneficial to you. Reading through them will undoubtedly either enlighten you on how to further advance what you’re already involved in, or it will give you the necessary push to change to something that might work better for you.
Obviously, then, if you are already looking for an online business opportunity, or looking to change directions, this is for you.
For the sake of this discussion, we’ll talk strictly in products. However, realize that marketing a business opportunity or a service is essentially still marketing a product.
Carefully considering all of the following aspects will put you further ahead than the vast majority of Internet marketers, give you more flexibility in your marketing plan, and realistically bring you more success.
1. Your Own Beliefs
When selecting a product or group of products to market, start first with your own beliefs. In network marketing it’s absolutely critical to believe, like, and use whatever product your business offers. Without that belief you’ll never have any credibility with others or convince your down line to make purchases themselves.
Now, with regards to working auction services this is not nearly as important. Often, you can work essentially as a middle man connecting buyers and sellers. In this case, the seller is the one whose credibility the buyer feeds off of and it’s the seller also who is responsible for any guarantees, refunds, and such.
‘Instant’ sale mini sites are those specifically designed to solicit 1 of 2 immediate responses out of it’s visitors — buy or leave. With this type of site, it’s not necessary for the visitor to even know who they are buying from so your personal beliefs are not as critical. (obviously if you are more personally involved in the product and the site then your personal beliefs are important. We could argue about which way works better, but the point is if you do put your name to something you’d darn well better be a believer in it yourself otherwise you have no credibility.)
Personally, I would never market something without first believing it to be a good product. Often growing a business can be difficult enough without doubting whether what you are offering is really worth what you’re asking for it or not.
Read the following articles:
- Questions to Help You Select the Right Product for Your Business
- How to Choose the Products to Sell in Your Small Retail Store
2. Consider Your Target Market
I believe many would-be entrepreneurs fail because they never NARROWLY consider who their target market is.
Someone marketing a ‘work from home’ program to ‘whoever wants to work from home’ is missing their mark. There’s a big difference between someone working from home to market their own creations and someone looking to work from home re-selling others’ works.
Answer the following questions when considering what products you want to sell.
- Who exactly will be interested in this product?
- Is this group large enough to support my business?
- Is this a group I can reach?
- Can I market through others already in contact with them?
- How much competition will I have?
- How well established is my competition?
Read the following articles:
3. Consider Available Marketing Tactics
I remember getting excited about a particular product, believing in it, wanting to share it with others, only to run into a brick wall as to how to go about doing it.
It happens, and it’s very discouraging when it does.
Before you commit to selling a product, you’ve got to take a good hard look at how you will go about doing it. Consider the following:
- Do I already have contacts that will be interested in this?
- Can I establish a routine that will bring my product before new people consistently enough to make a profit?
- What methods will work to market this product?
Then consider the specifics of each marketing method. For instance with search engines, how popular are keywords that will lead to your product? How much competition do those key words have?
As another example, is there enough information surrounding your product to allow you to market it by publishing a weekly ezine?
4. Identify Necessary Marketing Elements
Not everyone has what it takes to market each and every product available online.
Consider your product. Is it a single purchase item or one that the same customer will buy over and over? Is it a low price item or on the high end? Are you selling just one product or an entire group of them?
Some products can be sold ‘instantly’ while others require more follow up. Do you have the tools for following up with potential customers? Do you have what it takes to lead someone from a single purchase to becoming a repeat customer or to considering other products? What will all this entail?
You’ve got to be honest in whether or not the tactics that you decide will be effective for marketing a product are ones you are comfortable — and knowledgeable enough — in doing.
5. Identify Your Financial Input and Budget
Here’s one that’s stopped a lot of us from succeeding. Any business is going to take some investment. Consider what you’ll have to put into your business BEFORE you start.
I’m not only talking about what it costs to get involved, but what it will cost you to get product for yourself, and what it will take as far as advertising.
This, of course, all depends on how you answered the questions above. However, don’t overlook this step. NEVER assume that you’ll have immediate sales that will cover your future expenses, either — ESPECIALLY if you are borrowing money to get started.
You’ve got to plan for the unexpected and have what it takes to keep your business going until it can support itself.
If there’s any one thing that’s attractive about Internet marketing it’s the excitement it can breed. The idea of contacting so many people so easily and the thought of getting a lot of sales in a short period of time is thrilling.
However, this excitement is also dangerous. We all need to realize that while those things can happen, they do take time and effort to bring about.
Don’t fall for the excitement without taking a good hard look at what will really be involved in working with the product of your choice. Take the time needed to examine the market you’ll be jumping into and make sure it’s one with good potential and room for expansion — AND THAT IT WILL BE SUITABLE FOR YOU.
With effort, you can achieve success online. Just don’t hinder yourself by trying to work with a product that’s not realistic for your situation — just because other’s were successful with it.
Sure, learn from the success of others. Duplicate their system IF it will work for you, but NOT just because it worked for them.
Make your own choices, make your own way, and you WILL make your own success.
Recommended Books on Choosing the Right Products to Sell
- The Irresistible Offer: How to Sell Your Product or Service in 3 Seconds or Less
- To Sell Is Human: The Surprising Truth About Moving Others
- Launch It!: How to Turn Good Ideas Into Great Products That Sell
- E-commerce Get It Right! Essential Step-by-Step Guide for Selling & Marketing Products Online. Insider Secrets, Key Strategies & Practical Tips – Simplified for Start-Ups & Small Businesses
Article written by Joe Bingham of the NetPlay Marketer