Thinking about starting a work-from-home business on your computer? During these tough economic times, one of the only true industries proving to be recession proof is Internet marketing. Of course, this doesn’t mean that any goose you shack up with will lay golden eggs.
Truthfully, most Internet businesses fail before they even get started. Why is this? It all has to do with the type of products people sell. In order to turn a quick profit, some entrepreneurs deal in ultra-cheap products and work to make a quick turnaround.
This is a disastrous business method. Sure, things may look okay in your bank account for the first week, but after word spreads that you’re the Sanford and Son of the business world, you’ll go down like the Hindenburg.
In no particular order, as they’re all equally important, here are the top 10 reasons you should only sell high-quality products to your customers.
The first reason is about as simple as you can get: your reputation. As a businessperson, you want to present yourself professionally at all times. With Internet marketing, you’re most likely going to have multiple sites and products, or at least a detailed website with articles promoting you and different landing pages. If you have a bad reputation, word will spread and, no matter how much content you have out there, it will all be stained. Not to mention that it’s just wrong to rip people off.
The next reason is all about satisfaction. Not only do your customers want the best product for their money, but you’ll be infinitely more satisfied when offering people something useful. You should always aim to please, above all else.
The number three reason is basically advertising. Great products will get you more affiliates willing to promote the product for you. They will not do this unless they too have a chance of profiting. And, if you’re offering cheap products, they’ll know that profit is not in their future, and you’ll have no affiliates willing to work with you.
Number four is all about lasting relationships. As mentioned previously, you’re probably not selling only one product. By doing right by your customers, they may end up being repeat customers. Do right by them with quality and they will return.
The number-five reason to sell quality is probably number-one in every entrepreneur’s heart: profit. Face facts here: you’re only in business to earn a profit. In the long term, people are going to where they can find quality. Be that quality service customers can lean on and you will profit.
Number six: ROI. This stands for return on investment, and tying into profit, better quality offered will help you to generate a better return on your investment. You can expect things to go slowly at the start, but if you’re selling quality, you can sell it for a higher price. This means a higher ROI to get you started.
The seventh reason to sell quality: resale options. A lot of people are looking to buy from you only to repackage and resell the products themselves. Obviously, anyone looking to make a profit isn’t going to purchase anything that isn’t high quality. Your business needs to take resellers into account. They may be a big part of your business.
Number eight is the all-important word of mouth. Outside of the Internet, there’s a real world where people gossip with one another. Remember that? If you’re selling a product that Sally likes, she’ll inevitably tell Susie that she has to try it, and then that creates a chain. She tells someone who tells someone else. This doesn’t happen without quality.
The ninth reason is all about hooking up with other entrepreneurs. Some people are looking to start up joint ventures to open super affiliate programs or other types of partnerships. If you’re not dealing in quality, the opportunities will pass you by.
Reason number ten is about keeping your profit once you make it. With a lower-quality product, more people are going to want their money back. So your profits may not be profits for long; they could be a loss. By selling high quality, you limit the number of returns you have to deal with.