Sunday, December 19, 2010

Right business model + packaging - NOTE

You have dozens of possible business models for any product online.

Most probably only one of these models will work really well for you, while a couple might still work but underperform and dozens others not work at all...

I am at a cross point right now because the business models I have been using are partly collapsing due to various changes in the internet landscape.

So, I am actively exploring new ideas.

here are some of the traditional models used online:

  • Free content - Financed by adverting (portals like Ivillage, Men's health, ask men, etc.)
  • Ads only sites (adsense abuse)
  • Free features + user generated content - Financed by advertising (Youtube and Facebook model)
  • Charities
  • Online shop (amazon)
  • Digital products - (My model for ebooks and programs)
  • Free content with up sell option (my model for free content + coaching on my site)
  • Free content offered in video sites (My videos on youtube)
  • Free membership
  • Paid membership - life time or one time payment (My model for programs and access everything)
  • Paid membership (recurring payment)
  • Content in exchange of email address - forces opt in - squeeze pages with upsell
  • Services for fee (My model for coaching)
  • sell products on big shopping portals (like amazon)
  • sell products in auctions (ebay)
  • Create an online shop on the site rather than only 25% shop and 75% free access
  • Etc, etc, etc.
You have dozens of models with possible subtle variations.

Something that you need to include in these models are traffic building strategies, marketing strategies or exposure strategies.

A perfect business model won't work if there is no traffic or exposure to whatever is offered.

Another ESSENTIAL element is of course the packaging, format and pricing of what you offer.

For some products, a set of articles might be appropriate. or you might need videos. + for what price???

ALL these choices and options give you TONS of different models.

To be successful, you need to identify EXACTLY the one that will work for you.

You might have some room for variation but I believe not much!

So, you better get it right or you might totally miss the point.

So here you have it.

If something in your approach is not working, identify the business model you are using and what is missing in that picture.


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