Ways to Create a your Business Selling Physical Products Online
Selling a physical product has a ton of advantages over selling digital ones. While digital products have their benefits and have their place, nothing quite beats the broad appeal of selling something tangible that people can actually hold in their hands and use.
The problem is that selling a physical product often requires a little more thought than going digital. In this post then, we’ll take a look at some surprisingly easy ways to start a business selling something physical.
One option of selling physical products online is to sell crafts. If you have the ability to paint, to make jewelry, or to sculpt with clay, then you can turn that hobby into a money making venture – and if you’ve seen the Penny Blossom episode of Big Bang Theory then you’ll already know how this works.
Simply create your product, take some photos for eBay or Etsy, and then sell them! It really is that easy – but make sure that the product you choose is something you can easily make in volume and that doesn’t have high CoGS (Cost of Goods Sold).
Reselling is the oldest business model in the book. All you’re doing here is ordering large volumes of something at a relatively low price (this is called wholesale) and then selling those items off individually at a profit. Reselling is a very effective way to make money but involves a small amount of risk because you have to buy inventory. If you start small though, you can reinvest your profit and thereby create a fairly reliable business model.
Yes, you can sell physical products as an affiliate. And most people reading this will already know that that means getting commission on sales. The best place to find physical products to sell this way is to go to Amazon, where you can sell pretty much anything you can think of – and through a site that most shoppers will already trust.
Thanks to Amazon FBA, more and more entrepreneur are now taking a stab at selling physical products. But while selling through Amazon this way is extremely easy, it’s also crucially not your only option. Once you have a product, you can now sell in a variety of ways. Send some of those products to Amazon, and some to yourself.
And once you have your physical products you then open up some new marketing methods. Here are just a few:
- Through your own site: If you’re a webmaster or blogger who currently makes most of your profit from Google AdSense and affiliate schemes, then hopefully you will have begun to see the merits of selling a product and particularly a physical product which will mean you become the sole beneficiary of your own hard work and that you maximize the potential profit you can make from each customer. Having a product on your site which you can sell means you keep the visitors on your page rather than sending them away, you strengthen your brand, and you don’t share your profits. At the same time, you’ll find that actual physical products still sell much more effectively than digital products and according to statistics they sell roughly three times as many. You will now earn enough per visitors that you can afford to use some more expensive methods of promotion. That and you’ll have something that you can display physically and that will be interesting enough to draw visitors in its own right. Here’s how to promote physical items on the web.
- Use existing channels: There are many different channels you can use to get word out about your product. For instance you can promote your products on eBay which will be a great way to connect with people who are searching for something like the item you offer. Likewise, you can also sell your item on Fiverr (especially if there’s an element of customization) or you can generate a buzz for it before you’ve even released it using Kickstarter.
- Use a mailing list: When people visit your site, what’s the one thing you want them to do before anything else? The answer is easy – you want them to sign up to your mailing list so that you can start marketing things to them directly and addressing them right in their own inbox. This is also a great way to invite people to get in touch with their feedback and suggestions which can help you to tailor make products for your audience.
Dropshipping is what many people consider to be the ‘ideal’ business model. This basically means you’re buying through wholesalers but you don’t have to put in bulk orders. Better yet, you don’t need to worry
about fulfilment because the company will do that for you! All you need to do is to sell the products and then pass the details onto the wholesaler that will sell the product. Best of all, some companies will even stay quiet and allow you to take credit for the manufacturing.
Selling your own product online
Finally, you can sell your own mass‐produced product. For most people, this will mean coming up with an idea, creating a 3D model and then going to manufacturers in order to get it made.
There are different options today though. For example, how about creating your own book with POD (Print On Demand) publishing? Or you could use a 3D printer and print out simple plastic items this way.
Today, it’s easier than ever to sell your own physical products. So, what are you waiting for?