Finding a product or service that people want
If you are going to sell a product face to face in a department store or a small shop, if you have zero interest in that product, unless you are a very good actor, the customer is going to quickly feel the lack of passion from you, and become disinterested themselves.
The same can apply if you involve yourself selling a product on the internet. Yes, you can probably invent a short term interest in an uninteresting product, but to sustain that interest? No.
Anyway, it makes no sense to sell stuff that has no interest value for yourself when there is a plethora of subject-matter out there.
So what are you interested in? What are you passionate about? What do you enjoy talking about?
What common interest do you share with your friends? – like sport, music, clothes, style of holiday such as skiing, water-sports, leisure. What are your hobbies? What do you enjoy reading?
The trick is to “brainstorm” yourself by writing down everything you can think of. Don’t try to second guess yourself by thinking “Oh, I don’t see how that would make any money.” That comes later. Just write it down. Use the golden rule in brainstorming:- “If you think it, write it!”
When you have made an exhaustive list of all of your interests, then categorize them into favourites, listing your most top subject first, and so on and so forth.
Once you have established which subject matter is your personal favourite, you now need to work out whether that same subject is appealing to other people. There is no point in trying to sell a product that has no interest value to others. (or is impossible to make money from)
So how can you possibly work out what interests other people have?
Years ago there would have been door to door surveys, forms pushed through your letter box and a team of marketing people poring over the results. Then from the nineties with the advent of the internet, it became easier with online surveys.
Today, it is easier still, by using a completely free tool on the internet that is available to anyone, a tool used by Internet marketers around the world, that will accurately tell you what people are searching for in their daily lives.
It’s called the Google adwords Keyword tool – you can find a link
to it here
Google Adwords Keyword tool.
and you not only use it to find out what people are looking for, but also to find out what ‘search terms’ people are using to target their information.
For example, people looking for information about internet marketing would probably search using the search term “how to make money online” or “work from home with laptop”
So you see now that there are two sets of information to deal with:- The subject matter and the key words that people are using to find it.
The Keyword tool gives you much more, in fact it gives you a vast amount of other information, but let’s keep this process in bite size chunks.
The next thing that you need to do, is to find out how much competition there is for your chosen niche. You’ll already have a rough idea because the Keyword tool also features a little box that indicates the amount of competition pro-rata to the amount of searches. But it is better to be more accurate.
There are various on-line tools that you can purchase to achieve this, but the easiest and more exact way is to use the Google search results.
Simply tap in your chosen subject into the Google search bar and underneath the search bar it will show the amount of results. Put speech marks (“) on either side of the word or phrase that is currently appearing in the search box and search again.
This time the amount of results should be a lot less. This is your true competition. What has happened here is that when you tapped in your chosen phrase the first time without the speech marks, the search results included complete phrases. So if for example you had searched for Internet Marketing, your search results may have included phrases such as Marketing on the internet, or The Internet structure of alternative marketing.
By placing the speech marks around your search phrase, your search results will produce only the exact phrase you were search for, so using the same example as above, the search results for “Internet Marketing” will be sentences which include the words “Internet Marketing,” and in that order.
As a general rule of thumb, you should be looking for a word or phrase that has at least 100 searches per day and competition of no more than 30000. However, later on, as you get better and more expert, the competition figures will be less important.
Its definitely worth your while to play around with this tool using different words and phrases until you get a feel for it.
Affiliate Marketing – Selling other peoples products
Many people have become very wealthy even to millionaire status by selling other peoples products.
These people are called Affiliates and this is, in basic terms, how it works:-
You (The Affiliate) create a simple web page all about your passion or niche. (How you create that page comes later.
On that page will be an relating advert with a link with special coding.
When someone clicks that link they are taken to a sales page of the person who’s product you are promoting. This is called an affiliate link.
When you (the Affiliate) sends a customer to their website and they make a purchase, you receive a commission. It’s that simple.
Someone else creates a product, creates the packaging, creates the sales-page. You JUST send traffic in their direction by promoting the web page that you have created.
Say you have decided to keep your theme about Cycling but have decided to go for a niche portion of this subject and have decided to adjust your business to concentrate on the bicycle spare parts market. So you have created a web-page or website about Cycling, on which there is an advertisement for, say, brake cables.
When a person needing new brake cables comes to r your website and clicks on the advert, they are then taken to the sales page belonging to the person actually selling the brake cables.
If they then make a purchase you are then rewarded for promoting their product on your website. Sounds easy doesn’t it? It takes a bit of concentration at first, then It becomes easier later on, when you know to source these affiliate products, when you know how to quickly build a web page or website, and when you know how to get loads of people to view that site. This is all covered later.
But back to the product. What has just been covered, are the basic steps of selling an affiliate product. Now is the time for you to step back a little, and relate this information to your own business.
Look first again at your own subject matter. Are there people out there selling products that have a synergy with your potential business? Do they have an affiliate scheme?
Tip:- To find this information, go to their website and look for an “affiliate” or”webmasters” tab. If not, scroll to the foot of their page and search there. If in doubt, contact them.
There are also affiliate-dedicated websites which are totally geared towards internet marketing such as Clickbank. Clickbank’s greatest strength is that it is a one stop shop for everything product-related for the budding internet entrepreneur. It has thousands of different affiliate down-loadable products. All you need to do is choose a product that is best suited for your site
If this is for you, just go to the clickbank website and follow the affiliate steps.
This may not be for you, Clickbank seems (at the time of writing) mainly geared towards American products and you may be based in the UK or central Europe. This is no problem as there similar companies to Clickbank that cover all kind of niches such as Affiliate Future and Commission Junction.
Or If, for example, your niche is about obtaining credit, such as mortgages, credit cards or hire purchase, there are a lot of company’s who will willingly reward you for sending them trade. A very famous credit card company, until recently, was rewarding its affiliates with £200 for every customer that was sent to its site. Imagine just two of those per week, that’s over £20500 per year without earning anything else.
You would be surprised how many well known companies have an affiliate scheme, Amazon, for example, have such a scheme, it only pays approximately 5 – 8% but if you send enough traffic…
So you see how this can work. You’ll find your favourite affiliate scheme in due course by trial and error
The other revenue stream that hasn’t yet been mentioned, is making money with Google ads. This is one of those subjects that are harder to describe than actually do. But basically how it works is that Google operates a scheme called “Adsense” whereby if you allow Google to advertise on websites that belong to you, Google will reward you nearly every time someone “clicks” on an advert.
How much that reward is depends on different criteria such as subject matter, personal interest, recent searches etc.
Google will scan your page to make sure that its advertisements compliment your subject matter. (although sometimes the ads relate to the persons recent searches) Your skill will be where to site the Google ads to best maximize your profit by getting the maximum clicks. Warning. Do not be tempted to click on your own adverts! You will get found out and banned.
So that’s enough about products, time to discuss how to sell those products and make some money!