Tracy Brady Cartoons

MONETIZING YOUR WEBSITE: Part 2 of 2

In our previous article we discussed “What to Sell” and “How to Set-Up an Online Store” . Now, we will consider the actual costs related to running an e-business.

Start Up Costs

Questions: How much capital (money) is required/available to you to either purchase stock items or manufacture/produce them. If you will be making the stock items yourself, will you need to buy equipment, materials, and tools? Will you be required to pay for storage? If so, can you afford it? Will you charge for shipping, delivery, postage and how much? What about packaging?

Another critical question to ask yourself is: Will you use paid advertising to promote your goods? Few webcomic artists and bloggers can afford to pay for radio and television commercials, net-based ads, and billboards so many make use of services like Project Wonderful and Google Adsense to not only advertise their sites but also their products!

Advertising, Marketing, Selling Your Products

Advertising and Marketing your products online, just as in the physical world, is an ongoing process of encouraging your viewers to buy from you. Encouraging them to do so in a manner that they will not find offensive or intrusive requires you to learn what techniques of presentation appeal to them by firstly knowing who your viewers are, or who in particular you would like to purchase your product or service. A good way to start this process is to look for and study how products and services similar to yours are already being presented. Note the presentations that seem/are effective and by all means imitate them.

Exchange advertising is a well known tool used by bloggers and artists, where sites will advertise the products of other sites, and vice versa. Example: Reddit/xkcd. Smaller sites may also do this for each other and share/expand their exposure.

Take advantage of well known peak sale periods such as holidays or days with themes (Martin Luther King Day, Columbus Day, Talk like a Pirate Day). Advertise vigorously during these periods and where possible offer items related to the period’s theme.

Last but not least, in addition to using your online “e-tail” store, make every effort to sell items in physical marketplaces, such as at conventions, fairs, flea markets, on consignment to stores, etc. For persons who do not have ready access to these, or are not natural born sales men (or women), if you have a trustworthy friend who has more access to these physical markets than you do and who is both sales savvy and willing to sell your products on your behalf, you might consider making arrangements with them to pay them on commission to do so.

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There is of course more to be said on this subject, but this is a basic overview of points and suggestions you should consider when making your foray into the business world of merchandizing.

Happy entrepreneur-ing!