Niche Product Selection
Why Niche Product Selection?
Now you have selected your niche market with care and you are sure through keyword research and through analysing other sites that you can compete within that niche.
The next step is choosing a primary niche product or products that you can market to the new clients that are interested in your niche; this is referred to as Niche Product Selection.
After all at this point you should be confident that you have a market and therefore clients and you should have a good feeling for the other players that you are competing with.
Now there are so many ways to obtain products to sell into your niche its amazing and you can get confused if you’re not careful, so here we will start off by discussing some of the avenues you can use to find great profitable products to sell to your customers.
So What is Affiliate Marketing?
Affiliate marketing merely describes a technique for building a business through selling products that have been developed by someone else.
Many people create and manufacture products and they see advantages to allowing other to assist them in selling these products to clients who want them. Affiliate marketing is really similar to purchasing items at a trade price and then selling them for a higher markup (retail price).
So Do You want Traffic Without The Risk?
The major difference however is that you don’t have to take a massive risk by buying the stock up front. You are allowed to create a demand for the product through clients you have targeted and then drive that traffic to the affiliate website where they can acquire products.
Affiliate Commissions are Very Nice Thank You !
Once the sale has been made you are then paid a commission based on what percentage of the sale was agreed up front. Often this can be as high as 50% commission that you could make for a product that you may never see or touched
Affiliate Marketing and Clickbank or Commission Junction?
Clickbank and Commission Junction are sites that allow you to create user accounts for free and then browse their product marketplace to find appropriate digital products that your niche will be interested in.
Both these sites are great because the product(s) that are supplied are electronic and whilst as we have already discussed, there can also be drawbacks. These are largely that once you have spent time building traffic streams you do want to ensure that you capitalise on this by ensuring that you do something to capture email addresses.
These addresses can be used later to sell again and again, this is called list building and it has to be said that this is a great way to make incremental revenue from the same niche over and over.
It is possible to forget this very important factor when you start doing affiliate marketing and then potentially you have given away the list that you have spent hard work and money building.
So How Much Is Your Time Worth?
Also it is worth remembering that even time is money, often when we think we are getting Traffic for FREE, we fail to calculate a lot of the personal time we may have spent getting that traffic. Traffic and mail contacts will be a gold mine for later, can you imagine if you had 25,000 contacts in a hot niche area, what would that be worth to you?
What is drop shipping?
Other people are also worth mentioning for instance drop shipping is a product delivery method in which the seller (retailer) accepts payment for an order, but the customer receives the product(s) directly from a large manufacturer.
In a drop shipping arrangement the affiliate acts as conduit between the manufacturer and the client. Effectively the profit for the affiliate comes from the difference between the wholesale and retail price of the items sold online.
Drop shipping is very beneficial to smaller retail shops, internet-only businesses and those who primarily use catalogs for sales. Because clients of these types of retail outlets do not always expect to walk out of the store with their product, a slight delay in them getting the item they have purchased is not an issue for them.
You may display the item in a catalogue or on a website but the actual product that will be shipped is often on a shelf in a warehouse thousands of miles away. This sort of system can be great if you would like to ship to remote geographical areas where you do not have coverage.
Creating Your Own Niche Products
Again there are some great ways to create your own products; firstly manufacturing videos on your niche subject is a great way of creating a product.
There are some free video editing software packages available to assist with this Windows Movie Maker built into many Windows Operating Systems is a good and powerful product to assist with this.
As I mentioned there are several other ways of creating products and this section could become a complete series of articles based just on this subject matter, for now it is outside the scope of this article however.
So How Do You Know Which Is The Best Niche System?
Product creation is an extremely large area and if you are stuck here it may be worth just choosing a Click bank or Commission junction electronic product for now.
It is outside the scope of this high level overview to cover the specifics of any particular system, if it’s required maybe we could expand on some of these in another series of articles.
John Hill is a Web Design, Search Engine Optimisation and Social Media consultant from South Yorkshire our sister companies E solutions and Social Media Training deliver specialised solutions to companies wishing to engage and sell online. If You Want your business to be found online by new clients then contact us for the most competitive price and best service.
John Hill is a Web Design, Search Engine Optimisation and Social Media consultant from South Yorkshire our sister companies E solutions and Social Media Training deliver specialised solutions to companies wishing to engage and sell online. If You Want your business to be found online by new clients then contact us for the most competitive price and best service.
Tags: niche prodct selection, Online Marketing, product selection
This entry was posted on Sunday, December 12th, 2010 at 12:36 pm and is filed under Internet Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
