Choosing the best Online Business model for you is an important decision. These are the 5 most common:- Affiliate Marketing, Info Products, Service Provider, Self-publishing and Online Coaching.
You must investigate each of these different online business models and decide which is the best for you. Which one will help you achieve the success you are seeking.
1. Starting Easy with Affiliate Earnings.
Becoming an affiliate for someone else’s products is one of the best online business models for newcomers to the world of online marketing.
With affiliate marketing, it isn’t even necessary to have to have your own website. It depends on the program you choose.
You can make money by promoting various products and services to your list. If you don’t have your own blog to review and promote products from you can use Social Media sites.
It also takes a lot less effort to review other people’s products than it does to create your own. With affiliate marketing, you can recommend products from a variety of platforms, depending on your niche.
Be sure to check out both physical and digital marketplaces to see what all is available to recommend to your subscribers and blog readers.
There are many places to find products such as:
- Warrior Plus
- Commission Junction
- …and direct programs, too!
To get started you could use one of the Search Engines to search for the niche or type of product that you want to promote.
Just add the words affiliate program afterwards and see what comes up. There are many companies who run their own programs that aren’t listed on the above platforms.
For physical products you could go to Amazon who have their own affiliate program.
So for instance, if you were in the survival niche, you could go to ClickBank to find an info product to review.
Then you might go to JVZoo and Warrior Plus to find content or courses to promote.
For example, you could type this phrase into search engines and find more programs: survival food affiliate program.
As an affiliate, make sure you’re getting a good commission. This is usually between 50% and 75% of the sale price.
Check how long your customer’s cookie stays associated with your affiliate link. This is to make sure that if they buy later, you will still get credit for the sale.
2. Creating Your Own Info Products.
This online business model means creating your own info product and releasing it with an affiliate program. You will then have an army of affiliates out there working for you, sending you a load of of sales and subscribers.
If you are new to online marketing you may be nervous about launching a product or working with affiliates, but this is the best way to brand yourself and quickly build a following.
It requires you to network with others and see if they will promote your product.
By selling your info product on sites like JvZoo or Warrior Plus you will have a ready-made supply of affiliates waiting to promote your product.
Firstly, decide on the topic that you want to create a product about. Don’t worry about the competition or whether or not a subject has been covered before. Just choose something you feel people will need help with in your niche.
Then decide how you are going to get that information out there. based on what your audience wants and what skills you possess to get the job done. Sometimes the two may not match, and that’s okay.
You might have an audience who prefer video, but it’s not your forte – and in that case you can either outsource the videos, improve your skills, or simply use words in an eBook. You may find that your audience is willing to accept different formats.
If you are not sure about writing your own content and don’t want to pay a freelancer to create it for you, you might like to consider using Private Label Rights (PLR).
Text and video are the two most common methods of creating courses, but audio podcasting is becoming more and more popular.
When you create your product, make sure you price it competitively. There must be enough margin to make it worthwhile for your affiliates to review and promote it, but you don’t want to make it too expensive that you put off any prospective buyers.
Have a look at what other sites are charging for a similar product and decide your pricing strategy from there.
Having a good affiliate program boosting your sales will quickly enable you to start building up your list.
Decide which platform you want to use to sell your products on. Examples of suitable platforms include ClickBank, JVZoo, Warrior Plus and Udemy.
It’s up to you which you choose, but make sure that your affiliates are well taken care of and that their commissions are paid on time.
As you build a list of buyers from your first product, start working on your next info product and so on. This way you will have a continuous flow of products coming to the marketplace and you will see your income start to grow.
3. Using Your Skills as a Service Provider.
Sometimes, you have no other resources or knowledge besides the talent you possess as a writer, graphics designer or customer service representative.
If you don’t have the money or desire to invest in a site to launch a product from or promote as an affiliate from, you can get started working for others who already have a business online.
Many people get these jobs through word of mouth when a friend in need of a provider connects them with a person who has the skill to fulfill their job request.
It might be that they need an eBook written, an eCover created, or handle their customer service requests.
They might be searching for someone to act as an affiliate manager – recruiting potential top affiliates to come on board for future launches.
If you can handle any of these tasks, then you may want to start an online business as a service provider.
Word of mouth isn’t the only way you can get a job offering your services, though.
You might find an ongoing job where you’re working routinely for an established marketer, but it might be also be a series of one off gigs where you get hired by one client one day and another one the next.
It all depends on what you’re offering and how long they need help with that particular task or service.
If it’s for something like article writing or graphics, it will probably be just one job at a time, but if it’s for customer service or affiliate management, then it might be a more permanent arrangement where you’re paid on a regular basis.
With affiliate management, there might be a deal where you’re paid a set amount or one where you get a portion of the earnings. If it’s the latter, make sure you negotiate upfront so that you’re able to get a down payment on what you’ll earn.
Don’t allow an unscrupulous marketer to promise to pay you afterwards and then not keep to their side of the bargain.
This also applies the other way round. If you’re setting up a profile on a site like UpWork, make sure you provide plenty of information to reassure your prospective clients.
Many marketers don’t want to risk paying a freelancer who disappears with their money without doing the job.
If you’re offering a service like ghostwriting or graphics, make sure you fill your portfolio with a wide range of options for them to consider.
Showcase articles various topics such as health, success and relationships so they can see your style.
You also might want to showcase different types of writing, too – like an articles, sales copy, email autoresponders and more.
This gives the prospective client an idea of how well you can write for conversions versus simple conveying of facts and information.
If you’re on a site like Upwork, you can go out and bid on jobs rather than waiting for someone to find your profile and reach out to you. Bid carefully and personalize your responses to achieve have the best success rate.
You don’t have to rely on these platforms to bring in work.
You can set up your own website where you offer services, then you can charge whatever rate you want, rather than engaging in a bidding war with others on these freelance site
Be clear about exactly what you are offering and how your charges are worked out so that any prospective client can see what they are getting.
The client will also want to know a little bit about you. There are many scammers online, so while you don’t have to divulge any personal details about where you live exactly, you should give them adequate details about your experience with the service you’re offering.
Make sure you also have a contact form.
It’s always good to discuss a project with a client before allowing them to buy so that you know if the two of you are a good fit to work together.
4. Follow the Self-Publishing Route.
Amazon and other platforms have made it easy for the average man or woman to write their own manuscript, upload it and sell it to people on a global scale. You’re paid 60 days after the sale of your books, and you get money even if they buy a digital version they can read on their electronic devices.
Although you can do most of this on your own, regardless of whether you’re pursing fiction or non-fiction, there are two areas you may want to invest in hiring an expert.
These include having an editor to go through your manuscript to check for errors etc. and hiring someone to create a professional cover for your book.
5. Working As An Online Coach.
There are many niches where online coaching is a viable option as an online business model for those who want to work for themselves at home.
People hire coaches all the time to help them overcome personal obstacles and achieve success in something they’re passionate about.
For instance, you might want to open shop online as a life coach who helps people get through tough times, set goals and work toward them until they see them to fruition.
You can use free tools like Skype to meet with customers where you can see and chat with one another on a regular weekly basis.
To make money with this, you can have individual sessions that you sell, or you can have package deals, such as buy 4 and get the 5th one free. Take a look at others who offer this type of arrangement and see how it can fit into your online business model.
There are many niches where all of these elements can earn money for your business.
For example, let’s take the diet niche. You can promote both weight loss tangibles and digital items as an affiliate, create your own info products, publish books on the matter, become a ghostwriter for others, and even coach people to succeed.
There are many other online business models, so just take your time and investigate to see what appeals to you most before committing to one or more of these ideas.
If you want to create an internet income of your own, product creation may be something you need to look at. Check out this free training webinar with John Thornhill, one of the 1% top sellers in the world. It is just what you need to set you on the road to success.