Deciding which product to sell online is a pivotal factor in your business's success. You have the option to either identify an existing product or create your own that addresses a particular need in the marketplace.

MASS MARKET APPEAL: Selecting the right product revolves around determining if it has widespread appeal.

The law of income suggests that the value you provide directly impacts your earnings. "You will be paid in direct proportion to the value you deliver to the marketplace."

The product you choose must not only resonate with you but also have mass-market potential. Understanding your target audience and determining if the product appeals to them is crucial.

Is this audience large enough to be profitable?

Types of market groups include:

• Affiliate Marketing

• Network Marketing

• Make Money

• MLM Network Marketing

• Direct Sales

• Digital Marketing

• E-commerce

• Students … to name a few.

From a business perspective, it's essential to assess how well you can serve the market. Consider whether there is a significant need for your product or for the results it promises to deliver.

1. USE YOUR OWN PRODUCT:

   When promoting a product, it’s important to be an actual user of that product. This way, you can stand behind it with authenticity. If you're not willing to buy and use the product yourself, it would be hypocritical to promote it.

• Believing in the product is crucial to successfully marketing it to others.

If you don't believe in or use it, don't expect others to buy into it. When you get that everything changes.

2. PRODUCT SUITE:

Check if your product is part of a larger product suite. What does that mean? Companies like Apple excel because their products are designed to work together. Each product complements the others, creating a seamless experience. Apple’s strategy of creating an integrated product suite—products that work in harmony with each other through a central hub—has been key to their success.

For example, Apple’s ecosystem connects iTunes, iPod, iPhone, iPad, Apple TV, iMac, and MacBook, each enhancing the user experience.

For your own business, consider whether your products can be part of an integrated suite. Writers, for example, can expand their product offerings beyond just books by adding:

• programs based on the book

• DVD programs

• Seminar/workshop/training

• Coaching or consulting services

This strategy involves creating a series of products based on your original offering, increasing in value and price as they build upon each other, and providing customers with more value over time.

3. COMPENSATION PLAN:

   When selecting a product, particularly for affiliate marketers, the compensation plan is a key factor. It's important to align your personal beliefs with the potential for income, as multiple income streams often stem from a single or a few sources.

4. FUTURE AND SCALABILITY:

Assess whether the company and product have room to grow. Will it reach a plateau, or is there potential for continuous expansion?

What is Scalability?

Scalability refers to the ability of a business to grow and adapt over time. It involves adjusting to changes, expanding, and upgrading to meet increased demand. Businesses often fail when they neglect the need for future adaptability. Small businesses, in particular, may fall short if they focus too much on the present and fail to plan for future growth.

Examine your product to ensure it has the flexibility to evolve with growth, demand, and changing market conditions.

By considering all these factors, you’ll be better positioned to select a product that supports long-term success.

LEARN MORE: Affiliate Marketing Strategy

Feel free to share your thoughts in the comments below. What product have you chosen to sell, and why did you make that decision?