Secrets of online business part 4/7
There are many different online business models that you can choose from. Here are some of the most common ones:
• Affiliate marketing
• CPA marketing
• Creating and selling your own products or services
• Opening an online store
• Amazon FBA
Each of these is different and has its own advantages and disadvantages. Here is a brief explanation of each one:
Affiliate marketing – this is where you promote other people’s products and services for a commission. You can promote physical products and / or digital products. The commissions you will earn by promoting physical products are a lot lower than with digital products. It is easier to sell physical products though.
CPA marketing – CPA means Cost Per Action and you will be paid by a CPA network for promoting offers from their clients which do not usually require a sale. For example, you can be paid for someone providing their email address to a client. Or participating in a free trial of a product. The commissions are usually lower than with affiliate marketing, but more people will complete an action that costs nothing than purchase a product.
Creating and selling your own products – one of the biggest problems with affiliate marketing and CPA marketing is that you are sharing revenue with others. Also, the customer is never yours so you cannot contact them in the future to sell them something else. Creating your own products will take time, effort and probably some money. But you will keep all of the sales revenue and the customer will be yours so that you can keep in touch with them regularly.
Online store – people really like to shop online these days. So why not open your own online store and sell your own products or make a commission selling other people’s products? It is not difficult to open an online store. You don’t have to purchase stock either. You can work with a dropshipping company and promote their products for a commission. They will take care of sending the purchased items to the customer and deal with returns etc.
Amazon FBA – FBA means Fulfilled by Amazon. Amazon is the largest retailer in the world. It has a huge amount of visitor traffic and with the FBA program you can sell your products on Amazon. You can source your own products from manufacturers in China for example, and then sell them for a much higher price in western markets. Amazon will take some of the money, but you can make good profits with this model.
So, which of these appeals the most to you? If you are really limited on time, then affiliate marketing or CPA marketing could be a good choice. But they do have the drawback of you not owning the customer (there are ways around this).
If you have skills and talents that you can sell to others, then creating your own products could be just right for you. You can create digital products such as “how to” guides and even video training courses that you can sell from your website and other platforms such as Clickbank.com.
It will take a while to create a product, so you need to take this into account. If you want to create a video training course, then you will need the right recording gear for this such as a good camera and microphone. You will also have to edit your videos so that they are the best they can be.
With an online store you have the choice of creating or sourcing your own products or partnering with a dropshipping company and promoting their products. If you are going to create or source your own products, then you will need money to invest. Commissions with dropshipping tend to be quite low but it is easy to get started.
With Amazon FBA you will definitely have to invest in your own products. You will need to send stock to Amazon on a regular basis to ensure that you are never “out of stock”. There are plenty of manufacturer’s that will brand products with your logo and ship them directly to Amazon for you. You need to factor in all of these costs.
Whichever of these online business models you choose you need to find out as much about them as possible. How do the super affiliates make 6 and 7 figures a year from affiliate marketing? What is the best way to find out what a market needs for product creation? Which products will sell well on Amazon?
When you start an online business, you need to plan for a few months without making any money. Yes, it is possible to make money immediately with affiliate marketing and CPA marketing, but this doesn’t always happen. If you are in need of making money straight away, then start freelancing or completing online jobs at home first.
Part 1
https://steemit.com/hive-152587/@desertship77/secrets-of-online-business-part-1-7
Part 2
https://steemit.com/hive-152587/@desertship77/secrets-of-online-business-part-2-7
Part 3
https://steemit.com/hive-152587/@desertship77/secrets-of-online-business-part-3-7