There are three broad categories of product types:
1) Own product
Many successful Internet marketers have at least one product they call their own. This is one of the fastest ways to get your name out on the web. Having your product gives you full control over pricing, design, joint venture deals and bonus materials.
If you do decide on creating and selling your product, your next step would be to choose between portable electronic version or physical version. Most marketers would prefer the former because there are no inventory costs. But the most important element is, electronic products like ebooks or MP3s allow for immediate delivery. And this appeals to buyers because they get access to the products instantaneously, satisfying their desire for instant gratification.
One advantage of having your product means recruiting others (affiliates) to sell for you. You pay them commission only when sales are made. You get tons of targeted visitors but don’t spend a cent on advertising.
However, to recruit good affiliates, even super affiliates, you need to have a set of promotional materials ready for them to use. Don’t invite them to sign up your affiliate program and leave them to fend for themselves.
Of course, the product itself must be of high quality or you’ll see refund requests faster than you can sell. Your reputation gets ruined, your affiliates dump you and it’s going to be difficult to regain customers’ trust.
2) Affiliate Products
Like I mentioned above, an affiliate promotes someone else’s products and get paid a commission when sales are made. Many Internet marketing beginners will start with this type of selling as it is low costs and some of the payouts are pretty generous.
But how do you choose which merchant’s products to sell? Many people will look at the rate of commission payout by the merchants to decide WHICH products to sell, but be careful, it may just backfire.
First, always think from the customer’s point of view. Take a good look at the merchant company’s website, does it make you want to buy if you were the customer? Does it have a compelling copy to make you click on that “order” button? If the merchant does a lousy job convincing potential buyers, then it won’t matter even if they pay out 90% commission to you. Remember, you have done the work and send visitors to the merchants, all your effort and time are wasted if they fail to convert.
So look for merchants who are helpful and have great sales materials you can use as banners and sales messages. Successful affiliates are usually those who are promoting good merchant products, even with low commission rates.
Please note that this is a brief introduction to affiliate marketing, to learn more, visit Slater Academy. Slater Academy offers excellent in-depth coaching and training programs to beginners.
3) Resale Products
There are some products where you can resell after you have to purchase it yourself. These products come with what is called Resell Rights. There are “Master Resell Rights” and “Resell Rights”.
Master Resell Rights give you the full right to either sell or give the product away. You can even pass along the resell rights to your customers.
Resell Rights on the other hand, just gives you the right to sell the product, you may or may not give it away and you cannot transfer the rights to your customers. Meaning your customers cannot sell the product as you can.
While this article is not exhaustive, it is hopeful that the information above can help you decide on what to sell as a start and then move on from there. Usually, Internet marketing beginners will start with affiliate marketing because it costs the least and you have no inventory or customer service to worry about.
Personally, I would suggest you do the same: start with affiliate marketing and get into a coaching program like the Affiliate Classroom. Learn from those who are successful and take action.