We’ve often been told that the most profitable industry to be in is health and wellness. This is due to the consumable aspect of it. This is true, you definitely want to be in the best consumable industry there is-when it comes to network marketing.
In network marketing, you get a residual check that you get month after month. So therefore, you want a product that can be consumed at least monthly if not weekly.
The factors to consider when you have a product that is highly consumable, like vitamins, is that it has to be formulated, stocked, packed, and shipped. Those are just four steps-it’s not counting the numerous other steps in between. Each step reduces the profit margin.
Even with these disadvantages, health and wellness is still the most lucrative industry in network marketing due its high consumability factor. Notice I said in network marketing.
Now, when it comes to Internet marketing, that’s a different story. In Internet marketing, you can deliver products electronically and the process is a lot simpler. Therefore, there are a lot fewer steps to get the product to the end consumer. Because of these factors your profit margins are increased exponentially. Let’s examine it a little further.
Electronically delivered products such as e-Books, software, membership sites, video courses/tutorials, and paid newsletters can be made and set up relatively easily in a short amount of time. You don’t have to worry about shipping, because everything is automated and delivered instantly. After you’ve created your product it is simple to make copies of it.
In the case of e-books, you can compile your book from works in the public domain, public label rights, or just create the content yourself. If you frequent forums a lot, there may be a person or two whose forum posts or rants are outstanding and would make a good read in an e-book. You will more than likely have to get their permission, but this still makes for an easy way to get content. Those are just a few ideas.
Membership sites are another revenue stream where everything is handled over the Internet and you don’t even have to issue membership cards! The great thing about membership sites other than everything is handled electronically, is that it is recurring income. This is the kind of income you dream of.
The downside with most products that are delivered online, is that once the sale is made you’re done- until the customer decides to buy again. With membership sites, you can count on the sale month after month or until they cancel their membership. In a sense you can say that it is consumable, because your customers want access to your information every month.
If you already have a business that does not sell products that can be delivered electronically, you may want to consider adding that aspect into your business to give you another stream of income.
As long as you have marketing system in place products that are sold online give you the best return of your time, energy and money.