What’s Your Favorite Business Model Online?

Nobody seems to ask that question, so I figured I would.

I originally came to Wealthy Affiliate to acquire knowledge of online marketing in general, so that I could apply what I learned to anything I wanted to do, even offline.

Education is education, to be used in many creative ways.

I never set out to be an affiliate marketer, though I had done that even before I came here. I had an affiliate site that was like a small department store, and 2 e-commerce sites. And I used all of them to make mistakes and learn. I tried things out. Would get a hunch, and figured I had nothing to lose by trying, except a little time.

Some pursuits paid off. Most were a dismal failure, but not because the idea was bad, but because the idea had to be compatible with how business is done online.

There is great sophistication in being an online marketer. Build it and they will come.

Really? They have to be able to find you first.

I didn’t know much about keywords, or any of the SEO techniques that Jay has taught in his webinars.

Before WA, when the keywords worked for me, it was pure luck. They brought me an audience, but not always a hungry audience, ready to take action.

If you want a profitable business, niches are a big consideration. The most profitable niches provide a product or a service that people have a burning need to fill or a “thing” they must have. What does anyone need? Money? Health? Good relationships? Technology items that are popular and in demand? Knowledge? Toys? Entertainment?

What about luxury items? That’s tougher, but don’t let it stop you. You just have to know your audience and communicate directly with the person who would buy your item. Still, it’s tough. It’s reasonable that a person would want to see something before purchasing it if it represents a sizable investment.

One of my niches was authentic vintage and antique Persian rugs. Why? Because I love them. I represented an excellent company as an affiliate. They had great pictures on their site and very competitive prices, so I thought it would be easy. My friend picked out a rug from the site. The exact rug arrived on time and in perfect condition, but the color was not what my friend expected. Color is an illusive thing, and so is scale. The rug was small on his computer screen. It was difficult for him to translate a picture to the real thing, no matter how clear the picture. He eventually got used to it, but I still think he’s a little disappointed.

Getting back to my original point however, what model of marketing do you prefer?

I like e-commerce. I like information sites with a blog. They are the most fun for me. I like visual blogs (all pictures, drawings or whatever). The idea of a membership site intrigues me, but would have to give it a lot of thought. Sometimes you should just do what you like and figure out how to monetize it later.

If you are well known for something, such as music or art, you should have a site for that too. It may or may not be profitable. I have heard of a very profitable music site, where the site owner teaches piano to his online students. It still eludes me how one does that.

Would love to hear your thoughts.