Your Product or an Affiliate Product?
Selling digital information products such as eBooks, courses and video series is one of the very best way to make money online.
This is a very simple business model that will allow you to make money by selling a product that costs you nothing to produce and that doesn’t require storing or even delivering. Everything you sell will net you almost 100% profit!
But the question is whether you should develop your own digital product, or whether you would be better off selling a product someone else made as an affiliate. Let’s take a look at both arguments…
Creating a Product
If you create your own digital product, then you’ll have the considerable advantage of owning that product 100%. In other words, you won’t need to split the earnings with anyone, and you’ll be able to make as many changes as you like to your product, branding and marketing.
There’s also a certain amount of pride that comes from owning your own digital products and you can make sure that the product matches the branding of your website or blog. Eventually, you can even recruit affiliate marketers to help you sell your product.
This can mean you have an entire legion of marketers promoting your product and helping you sell its good qualities. The result could be that you have a legion of marketers helping you to earn more revenue for your product!
Selling an Affiliate Product
On the other hand, though, some people will prefer to sell digital products as an affiliate because it means they won’t have to develop it themselves. This means that they can start selling right away and it means that there will be zero overheads and no upfront investment. What’s more, is that an affiliate product gives you the distinct advantage of being able to choose something that is already selling.
In other words, you can look for a product that is proven and that means you know that it can be profitable. With your own product you have no such assurance and there’s always a small chance you’ll end up creating something no one wants.
Seeing as an affiliate product can net you 75% of the commission in some cases and you can sell as many as you want, there’s no upper limit here in terms of your potential profits.
The conclusion? There isn’t one! Ultimately, the answer comes down to you. But now you have all the information to make the best possible decision…
Arranging Items in an eCommerce Store for Maximum Sales
If you look at a brick and mortar high street store, something interesting you may notice is the way they lay out their items.
Everything in that store has been carefully placed and thought out in order to have the maximum impact on the visitor and to encourage them to buy.
This is also why your local grocery store keeps changing the layout of the place – they’re doing it to ensure that you have to search around to find things – thereby coming across more items that you might want to buy.
They also think about the ‘journey’ you take through the store. What is it that draws the customers in? And where should they place the items to make them the most appealing and most likely to get purchased?
But what if you have a digital store? An eCommerce store? How can you accomplish the same thing and encourage people to want to buy?
One trick you should use is ‘contrast’. Contrast means placing two items next to each other that are very similar but different in terms of price.
This works because it helps the shopper to talk themselves into buying. For example, they might decide that they’re going to buy the cheaper item even though they feel guilty about spending the money.
They can justify this action by saying ‘well at least I bought the cheap option!’. At the same time, it will feel like a better deal.
Conversely though, if someone is thinking of buying the cheap version, they may be tempted to upgrade to the most premium model for a little more money. Just by placing these items next to each other then, you can increase the likelihood of two types of customers spending more in your store.
POS stands for ‘Point of Sale’. This is essentially the point at which your customer is about to buy something from you. In other words, this is the checkout page where all that is left to do is for them to enter their details and click ‘buy’.
At this point, your customer has already committed to buy and already overcome their own objections. Thus, they are much more likely now to slightly upgrade their order with something small. Place extra offers here, and you can potentially upsell to the customer and thus earn more money.
I do hope you have enjoyed this series of articles on being a Digital Nomad. If you haven’t yet downloaded my Free Ebook “So You Want To Be A Digital Nomad”, you can still do so by entering your name and email in the box above.
If you are still really keen on becoming a Digital Nomad here is a great source to get you started. This is a Free Webinar by my friend Noel Cunningham where he shows you the right way to get started online. Noel Reveals the Fastest Way to Build an Email List and Make Sales Online… with No Product, No Website and No Tech Skills. Go take a look here >>. You can thank me later.