Doing business just does not mean manufacturing your own product, setting up a brick and mortar shop and selling the same in the market. Selling other company’s products is also a lucrative business idea. This kind of business is also known as affiliate marketing. In this kind of business, you can earn commissions and incentives by selling items produced by other brands.
How can you make money by selling other company’s products online?
Choose a well-known e-commerce site
This is the first and primary option for selling other company’s products. Instead of running around to get rented space to open a shop, choose an online selling platform. There are several online marketplaces like eBay and TrueGether which operate in almost all the countries of the world. So by engaging with one of these selling sites you can reach to a large customer base. Moreover, these online shopping sites provide you with an existing product list and thus you can happily skip the brainstorming process to choose the companies and products which you want to sell.
Choose a specific category
There are millions of products made and sold every year. So the next step you need to take is to understand which category of product you are comfortable to sell online. In this way, you can jot down the number of companies on behalf of which you want to make the sales, chalk out a perfect marketing plan and also get enough knowledge in the domain so that you can provide prospective buyers with proper answers to their queries. For example, if you have enough knowledge in the domain of beauty and lifestyle, you can choose companies which manufacture beauty products and plan to sell on selling sites similar to eBay.
Arrange for drop shippers
As you have decided to sell other company’s products, you are dealing with several clients and numerous buyers at a single point of time. For this reason, you must engage a drop shipper who will collect the products from your doorstep and deliver directly at the customer address. The drop shippers carry the inventory by charging a nominal fee; these companies are an integral part of your online business of selling other company’s products.
Promote through social media
Love Facebook-ing? Affiliate marketing or selling other company’s products can become your favorite way to business. Post about the products which you want to promote or sell on your social media accounts (Facebook, Instagram to name a few) and earn money as people click on the given links.
One thing which you should keep in mind is that this is a time-consuming process. You might have to spend a lot of time online, selecting products, creating links and building a customer base. One thing which you need to keep in my mind in this Regards is that the product you select to promote should match the niche of your social media account.
Create a website
This is another way in which you can sell other company’s products. After you have narrowed down the products which you want to sell, create a website which will appeal to the buyers. There are several strong web hosts which are easy to install and come with several free themes. Add valuable content to the website so that it gets well ranked in search engines (like Google).
The process is- when people look for their desired information in the search engine, if the search criteria matches with the keywords mentioned in your website content, your website gets highlighted- users click on the link and get into your website- where they get affiliate links clicking on which they can make purchase and in turn you earn commissions.
Check out the available affiliate programs
This approach can reduce your labor of selecting from a wide range of companies and products. These programs enlist the interested advertisers and you can easily choose the one which suits your business model. These affiliate programs also provide with tips and guidance using which new sellers can easily start their business of selling other company’s products.
Some facts to keep in mind
While this business idea of selling other company’s products is an instant hit, keep the following points in mind before starting this venture:
- You need not pay any money to join an affiliate program.
- Choose e-commerce sites which are less fussy.
- Select a reliable drop shipper because if the product delivered is faulty the liability is on you.
So why wait? Start selling other company’s products and get back as much as you put into the business.