Online Home Business Products-2 Profit Strategies
Unless you are a super salesman the product you choose for your online home business can make or break you. Super salespeople can sell almost anything to anybody, and make money online, while the rest of us need a good quality product to fall back on.
In this article let’s talk about online home business products and 2 strategies you can choose from to be profitable.
1. Big volume. Most home businesses are going to choose products that operate on a smaller margin of profitability.
This generally is okay because you can compensate for that by increasing the number of sales you make. The network marketing business model would be an example of this.
Some of the largest MLM companies sell vitamins, basic commodity items, and lower-priced products. These include Internet-based products such as domain names, website hosting, Internet marketing training, and so on.
You can start a home business opportunity around a product that is not that expensive to sell. Many affiliate marketing programs and two-tier affiliate programs operate this way.
A lot of the digital information products are fairly inexpensive. These pay a high commission rate, but you still may only be earning $20 or $30 on an ebook sale.
2. Big ticket. With this approach you are going to make more money per sale.
The direct sales business model does well with this. For example, there are discount travel programs you can sell online and earn several hundred or several thousand dollars per sale.
With this type of product you are either selling the travel program, or selling the travel program tied to a business opportunity. You can promote it either way.
This is just one example of a big ticket item you can sell. Other big ticket items to sell include Internet marketing coaching, physical products on Amazon, and so on.
Your target market is different with a big ticket item than it is with lower priced products. However, the primary benefit to this is you do not need as much website traffic to make more money.
You just fish from a different pond on the Internet. Your targeted keyword phrases do not need as many daily searches, but the traffic that is coming to your site is very targeted.
These are two profit strategies you must consider when looking at home business products. Today the online businesses that do the best are the ones that focus on a specific strategy. Sometimes this means having multiple websites to promote specific products.
Keep in mind that the type of products you promote will determine how much money you’re going to make. It also determines how much website traffic you need daily to convert some of it into a purchasing customer.
Filed under: LeadershipBooks
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