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Top 4 Online Business Models

Top 4 Online Business Models

Here, are top four online business models to evaluate.

Online Affiliate Model

In this case, you can earn income online by becoming an affiliate for someone else’s products or services. What you have to do is to provide reviews of products or services which you have used online and find them useful. You can start by recommending them to your friends and family. Once they purchase the product through your website links, you will receive a percentage of the sales made. Most people who develop an online business start with this as there is less risk involved. In addition, you can start with a basic website or blog.

Create Your Own Products

This differs from the above type as you will need to create your own products. There is significantly more risk in this case as you have to spend upfront expense in creating the products. If your product does not do well initially, you may find it difficult to recoup your initial investment. However, the advantage for using this method is that you have total control of the entire process. In addition, you can also create an affiliate program that allows others to sell the product for you. This allows you to create a sales force without the high investment needed in maintaining a full time sales force. By having your own products, you can also undertake joint ventures with other marketers who can do cross promotions to their own list. In this way, you can leverage on their subscriber base to build a bigger subscriber base or expand the target market for your products.

Market to Local Businesses

Do you possess specialised knowledge of an industry? If you do, you can create an online business that helps local business market their products and services online. There are many local businesses that want to use the Internet to advertise their services but they lack the ability. This is where you come in. You can help them set up a website. Alternatively, you can teach them how to drive more visitors to their brick-and-mortar store.

Middle-man websites

This is effectively a leads generation website. For example if you are an insurance representative from an organisation, you can create a single website titled ‘insuranceforyoungcouples.com”. This allows you to sell insurance to young couples who may have different needs from people who are planning their retirement. If you are successful, you can also create ‘middle-man’ websites for other industries or companies who are eager to generate more leads online.

These are the four online business models that are commonly found in a web enterprise. Some business may be a combination of the four models and others focus solely on one and make it successful before experimenting with others.

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