Business Models To Make Money Online
Making money online like any other business venture requires planning and effort
and the first thing you should do prior to writing a business plan is to figure out ways to generate money online. Obviously, you'll be looking at selling a product or offering a service of some kind and you shouldn't worry as long as there is demand for it. Next you have to consider the kind of online business model to use. Below are seven online business models to choose from.Sales Letter (Online Business model)
These model works like the TV infomercials, it entails having a site that makes a pitch aimed at educating prospective customers on the benefits of the product or service being offered for sale. The difference with infomercials is that a sales letter model is long on copy and short on pictures.
You can spot this business model online very easily, it often starts with a question directed towards the customer like "Would you like to loose fifty pounds in a day?", and it involves lots of scrolling to read the benefits as they're revealed. It also includes testimonials from satisfied customers with time bound special offers.
This model is worth considering if you're thinking of starting an online business, and especially if it's suited to your product and/ or services. The reason why such sites still thrive online is because the model works. Many professionals have turned to this model to promote and sell their services online, many of them coaches, professional speakers and consultants.
eBay Auction Model(Online Business model)
This is a flavor of the model presented above, where you use someone else's sites instead of your own to make money online; a good example of this model is the eBay auction system. The eBay auction model is especially attractive to people just starting an online business. People who want to make money online often use the eBay auction system as a cheap and easy way to get started and test demand for the products they want to sell. Then, if things go well, they move on to an online store through eBay or some other provider, or develop one themselves.
Stand-Alone Blog(Online Business model)
It's easy to notice that blogs are popping up all over the 'Net like mushrooms on a damp forest floor. The beauty of blogs is that anyone can self-publish their work online easily and cheaply. While many blogs exist just to get a person's thoughts and ideas out there, others are attempts to make money online.
The standard online business model for blogging is to run ads on the blog pages. Google AdSense, for instance, is a popular choice. There are, however, other ways to make money online through a blog. Many professionals who've taken to blogging use it as a way of showcasing their skills and in the process promoting their services.
The beauty of blogs is that you can set-them up for free and especially through hosted services like Blogspot, Wordpress and more.
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