Before getting started on earning money online, it is important to know that there are quite a number of successful Internet business models to choose from.
Knowing which Internet business model you want to follow is crucial. Because if you don’t, it’s like hopping into a cab and when the cab driver asks you:
“Where do you want to go?”
“Anywhere… just step on the accelerator and go…”
There are 4 successful Internet business models:
1. Sell Products
Selling products on the Internet can be categorized into selling your own product or other people’s products. The products sold can be digital or physical in nature.
Digital products are like those downloadable ebooks, reports, audios, and videos that a lot of marketers are selling online. You can SELL and FIND digital products at Clickbank and PayDotCom.
The topics for digital products vary widely from health, wealth, business, marketing, relationships, beauty, sports, hobbies, etc. You can find out in greater detail about the topics covered in the two links above.
Physical products are – as the name suggests – products that are physical in nature and are tangible. Places like Amazon and eBay are famous for selling products of this nature.
Now that you know you can sell digital and/or physical products, the next question is:
Do you want to create your own products or sell other people’s products (also known as affiliate marketing)?
For most people wanting to create their own products, they typically choose to sell digital products rather than physical products.
The reason for this is because creating digital products cost MUCH LESS money and time, and they are MUCH EASIER to create. All you need is to be knowledgeable in a certain subject and you can create an information “how to” product that shares your knowledge and skills.
Creating physical products, on the other hand, typically involves costly research and development, and the margin you get by selling them is minimal.
2. Sell Services
Instead of selling products, you can sell services to people as well.
If you’re a designer, you can sell your design skills.
If you’re a programmer, you can sell your programming skills.
Or you can also write content for other bloggers and Internet marketers in the form of articles or blog posts.
Or you might want to become a virtual assistant who helps other marketers and business owners.
There are a lot of business owners and marketers who would be happy to pay for the above mentioned services so that they can lessen their workload and focus on more important things in their business.
3. Sell Ad Space
So far I’ve given you 2 successful Internet business models. The third business model is by selling ad space on your website.
But before you can get anyone to advertise, you need to bring in visitors to your website first. Nobody is going to want to advertise on your site if you have little or no visitors.
The more visitors you receive on your website, the more money you can make from selling ad space. A good way to gauge how much traffic a website is getting is by looking at its Alexa rank. Though this tool is not the most accurate tool in the world, it gives us a good idea of how much traffic a website is getting relative to other websites. The lower the Alexa rank, the more traffic a website receives.
4. Sell Sponsored Reviews
This typically goes hand in hand with selling ad space. Bloggers who sell ad space usually also sell sponsored reviews.
A sponsored review is a PAID post where a blogger is asked to review a product or service, or create buzz about a new website.
Again, your blog needs to receive a considerable amount of traffic first before anyone wants to pay you for sponsored reviews.
There are 2 important keys to take note:
1. Transparency – make sure you disclose to your audience that it is a PAID post or sponsored review. If you don’t disclose this, you lose credibility – which is the number 1 selling tool on the net.
2. Honest – Make sure that your review about the product or service is honest and factual instead of biased towards the advertiser. Like above, if you post inaccurate information just for the sake of pleasing the advertiser, you’re going to lose credibility in the long run.
Out of the 4 successful Internet business models above, which one fits you the most?
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