One of the best ways to earn online income is by setting up an e-commerce store.
Here’s the plus side: if you try to go the route of affiliate marketing, the best affiliate marketers are focused on 3 main niches; dating, weight loss, and making money online. You would have to compete with the best of the best, and it’s not easy.
With the e-commerce route, in many markets, you’ll be competing against old-school business people who may or may not have any internet marketing experience. Many of them have glitchy, out-of-date websites, which leaves you a lot of room for improvement, and you can capitalize on their shortcomings.
It’s still not easy by any means. It requires hard work, and you need to stand out amongst the hundreds of thousands of e-commerce websites and online stores. But by filling a unique niche and executing the right marketing techniques, you can make your e-commerce store a profitable success.
Here are some tips to help you get started with your e-commerce store:
- Find a profitable market. Brainstorm some ideas, do keyword research, and try to get as specific as possible. For example, there is probably a lot of competition for selling surfboards. But if you narrow it down to surfboard racks, you may have a better chance of standing out in the market.
- Ask yourself, “Is the product expensive?” There are costs associated with manufacturing, distribution, reselling, etc. If your product isn’t expensive (at least $50 or more), there may be no profit left by the time you sell the product.
- Ask yourself, “Is the product in a growth market?” If your market has already passed its peak (i.e., the VCR market) and is on the downslope, you probably don’t want to get involved. Instead, you want to get into an industry that’s on the upswing – that’s where you’ll have the most profit and growth potential.
- Consider building a Shopify store. Shopify is a system built for e-commerce. With some basic web knowledge, you can set up a good-looking store very quickly, with a low-cost investment and with no coding needed. Shopify has a 30-day free trial too, so you can get started without spending a dime.
Here are some additional resources for creating a successful online store:
- How to Start an Online Store
- How to Build an Online Store using WooCommerce
- Best eCommerce Platforms