Selling Products Or Services Online: Which Is More Profitable?

[Oyeleke Toye]

As we know, doing business on the net involves selling of a product or service to people.

products have been classified into tangible products like computers, gifts, phones, grocery etc and intangible (digital products) like ebooks, seminars, etc.

Services include web design, hosting, epayment services, consultancy, exchange, etc.

I've had experience with selling digital products and services. In my opinion I think if one wants to build a lasting business, selling services is the way to go. It is easier to market and is more stable and long term. Although selling services online requires discipline and  can be time consuming.

On the other hand, digital products if properly handled can turn one into an overnight millionaire. But then this is not always the case and then it is much more difficult to market. I think it's ok to sell digital products but this should only be another source of income aside from your service business.

Like I said earlier, I have not sold tangible products online so I don't know what is like but then I guess this might be a big money spinner too. I'm going to be trying my hands on it soon and of course I'll let you guys know how it goes.

So that's my submission. What do you people think???

[Olajide Lateef]

Leke,

I got your points, though I can't agree with you totally on digital product. You can get highest return on investment from digital program. It depends on how quality they are anyway.

All methods you talked about have already makes millionaires already and its still doing.

But if am ask to choose I think I will prefer the service industry too first. Then supplement that with digital product serving same 'service industry'.

As for selling the physical products on the internet, it's very easy to go into as an affiliate marketer. A friend did make over $500,000 selling physical products last year as an affiliate marketer.

It all depends on ability to choose and focus on one method. And then find a mentor that will be somebody's guide.

Olajide Lateef

[phronesisxp]

i reserve my comments for now, i shall get back here when ready, i'd love to hear from others first and i know we have intelligent guys here. so lets explore this idea.

[feyisara]

I believe the service industry is better. right now not in the positon to say much but will shed more light on this topic

[Oyeleke Toye]

Leke,

I got your points, though I can't agree with you totally on digital product. You can get highest return on investment from digital program. It depends on how quality they are anyway.

Oga Lateef. Yes I agree with you that you can get the highest return on investment with digital products considering the little or no capital involved. But to say that success of digital products depends on it's quality?? I disagree with that.

We have seen cases where a worthless product has made millions in sales. Remember that people do not have the opportunity of seeing whats in the digital product until after they have actually bought it.

In my opinion what counts in making a digital product a success is a combination of the factors listed below:

1. An excellent sales copy
2. A good advertising campaign
3. A good JV relationship with other marketers ( so they'll hype you)
4. A little luck.

On the other hand, there are products that have excellent content but because they lack the ingredients listed above, they hardly ever sell a copy.

So my point is simple. Digital products can make you an overnight millionaire but it is not the product itself that makes you money, it is your sales pitch.

Hope I'm right. 

[Olajide Lateef]

First I have to clear something. I guess you are making your judgement based on Internet Marketer to Internet Marketer aspect of digital information industry online.

Even still at that quality of the content is highly important or else the refund rate will be high.

Their are alot of people in other industry selling high quality (in content) digital products. Some big companies in direct marketing companies have even been using this to test market.

Having said that, their is non of the methods that have not make and presently not making people that are hitting it big. Either Service, physical product or whatever it is. Same way lots of people are not making it as well.

All that is necessary is focus and consistent action.

And you know what if one really know how to strategize and have a good business system in place, all the business methods can work together.

Olajide Lateef

[Ephrathah Wealth Limited]

My take on this is that services are more profitable to sell than products....services are a recurring buy, it may be monthly, quarterly etc.

[sabas]

Leke,

I got your points, though I can't agree with you totally on digital product. You can get highest return on investment from digital program. It depends on how quality they are anyway.

All methods you talked about have already makes millionaires already and its still doing.

But if am ask to choose I think I will prefer the service industry too first. Then supplement that with digital product serving same 'service industry'.

As for selling the physical products on the internet, it's very easy to go into as an affiliate marketer. A friend did make over $500,000 selling physical products last year as an affiliate marketer.



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It all depends on ability to choose and focus on one method. And then find a mentor that will be somebody's guide.

Olajide Lateef