Internet Marketing for Wealth CreationLesson 5: On-line business "to Sell Products" (Part 1)
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Check whether your product/service is ideal for selling online. Browse and find out if products similar to yours is being sold on the internet. Study your competition and prospective customer base (target market). Visit your competitors' websites, check the sales process at various websites and choose the one that may suit your business, product and target market.
Note: You are not going to copy others' idea. It might not work for your business. However, it is important that you understand your competition and your target market, when you want to diversify your business.
Once you understand your competition and prospects, you must create a strategy for your business and launch your website implementing the strategy. Most importantly, you must test whether the strategy works for your business.
If you have no product to sell:
Most people want to start a business to make some extra money, but they have no idea about what to sell. Usually they stop thinking further and settle for something easier (like affiliate business or adsense).
If you are not in a business, it's quiet natural that you won't have anything to sell. And it is also true that if you want to start a business, you need a product (or service) to sell. So you have only one option, i.e. find a product or create a digital product to sell!
Before you decide to create a digital product, check if you can get a readymade, tangible or non-tangible product to sell. Is there a product that is being sold in your local market and is fit for sale online? Even if it is not an unique product, but has demand, it is worth selling online. Strike a deal with the owner/manufacturer and get exclusive rights to sell them on the internet.
If not, Get an Idea to Create a Product
(This section will also help you to choose a theme for adsense website.)
Getting an idea may seem to be the most difficult task. But it is not - provided you follow the instructions diligently! This process involves self-analysis, brainstorming and research.
Before you start, put off your mobile, close the instant messenger, decide not to check your mails and inform others not to disturb you. Sit with a paper, pen and a computer with internet connection. Then start the process.
Step 1: List out 5 to 10 topics that you like. While listing your favourite topics, never analyze whether you are an expert or the possibility of creating a product or the profitability of the niche (the topic). Now take your own time, think and answer the following questions (you may refer to the list below):
To help you choose your 10 favourite topics, I have given a long list of topics below.
| Category | Sub-Category |
| Career | Choosing a career, Finding a job, Attending Interviews, Retaining a job, Getting Promotions, Coping with Transfers, Business travel, Salary, Increments, Not getting fired, Changing jobs, Out of a job |
| Education | Courses (how to choose, etc.), Part-time courses (how to choose, manage, etc.), Study, Homework |
| Entertainment | Art, Crafts, Movies, Music, Relaxation, Sports |
| Family & Emotions | Activities, Angry, Fear, Life at home, Love, Raising kids |
| Finance | Saving, Investments, Debt, Banking, Budgeting, Insurance, Other money related issues |
| Health | Accupressure, Accupuncture, Anti-aging, Ayurveda, Cures for diseases, Dealing with disorders, Homeopathy, Meditation, Naturopathy, Staying healthy, Yoga, Yunani |
| Hobbies, Skills & Passions | This list is so extensive, that you cannot mention anything specific. |
| People & Relationship | Children, Club members, Co-workers, Dating and romance, Friends, Grandchildren, Neighbors, Online community, Parents, Spouse, Strangers |
| Personality & Growth | Communication skills, Leadership, Life lessons, Motivation, Organizing skills, Psychology, Self development, Self Growth, Strengths, Values and morals |
| Spiritual & Religious | Astrology, Feng Shui, Meditation, Numerology, Reiki, Vaastu, Yoga |
| Technical | Acquiring credentials, Becoming an expert, Innovation, Specializing |
| Travel & Holidays | Culture, Experiences, Places to visit, Tips and advice |
Remeber, you need not be an expert. Just choose 10 topics that interset you or that you are passionate about.
Step 2: Visit Google (or any other search engine), check the competition (number of search results) for each topic and note down. Then open any of the keyword research tools (click here to open the list), check the demand (number of searches) for each topic and note down. Though you are not going to do an extensive keyword research, this process will give you an idea about the topics you have listed.
While you are checking the competition (while searching google), spend some time to visit the websites that provide product/information about the topics you listed. Analyze carefully the kind of product/service/information they are selling and also understand their target market (to whom they are trying to sell). The time you spend now will save a lot of time and money for you in the future. Once you choose your topic/theme, you will know: What to sell and to whom to sell?
Step 3: Take the following quiz for each topic.
| 1. | How much do you like this topic? | |
| a. I am really excited about it. | [ ] | |
| b. I am very much interested. | [ ] | |
| c. It's OK, not really exciting. | [ ] | |
| 2. | How much do you know about this topic? | |
| a. I am an expert. I know a lot. | [ ] | |
| b. I know enough to write about it. | [ ] | |
| c. Well, I can learn it. | [ ] | |
| 3. | Can you create useful content about this topic? | |
| a. A lot - almost every day. | [ ] | |
| b. Yes, may be once in a week. | [ ] | |
| c. Well, I'll try to write. | [ ] | |
| 4. |
Is there competition (search results) for this topic? (Are there many people already covering this topic?) |
|
| a. No much competition. I can do something different. | [ ] | |
| b. Well there is, but I can work hard & compete. | [ ] | |
| c. There is lot of competition. | [ ] | |
| 5. |
Is there demand (no. of searches) for this topic? (Will many people benefit from this information?) |
|
| a. Yes, many people are searching for this. | [ ] | |
| b. Well, many. But, fewer as compared to competition. | [ ] | |
| c. No, not many. | [ ] | |
For each of the question above, give yourself 3 points if your answer is (a), give 2 points for (b) and 1 point if your answer is (c). Now add the points and note down the points for each of the 10 topics.
Step 4: Now choose the top 3 topics with highest points. Among these three, you can choose a topic that you would love to write about. If you are really passionate about the chosen topic, you will enjoy the work.
The final step is to create the product. Based on the research you did, you need to create the product/service and sell it!
Don't worry. Just do it. It will be easier than what you think it will be!
Important: In the step 2, you checked who will benefit from the products (of your competitor). Now before you start creating a product, you must know the features of the product you are going to create, the benefits that your customer will get from each feature and the emotions linked to each benefit.
For example, if you write a book called 'How to get free mobile phone every year, just by using your old mobile?'. The feature of the book is 'to save money for your customers on their monthly mobile bills'. The benefit is 'they can buy new mobile handset every year without spending money'. The emotions attached are 'pride' and 'greed'.
You may search the web for more information from here:
Previous Chapters
Lesson 1: Introduction to Internet Marketing
Lesson 2: Online Business v/s Conventional Business
Lesson 3: Major ways of Earning Money On-line
Lesson 4: Understanding Legal Aspects and Scam
Lesson 4: (a) Usage of Credit Cards, Passwords and Misuse
Lesson 4: (b) Copyright, SPAM and Scam
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