January 18th, 2012
I neglected to mention one more way to make money without a website. It’s something I wrote a whole book called Affiliate Millions about it with Anthony Borelli, who is the guru in this field. It’s placing very cleverly written Google AdWords ads, and other affiliate ads, that get people to click on them–a lot. With each referral, you make money.
Tony has made a lot of money this way. It’s not for the fainthearted though. It can be a little like day trading: you can lose a lot of money if people click and click on your ad and never take an action that generates an affiliate fee for you (in other words, they never make a purchase, they never take out a subscription, etc.). When it works, though, it can be very exciting. You can find out more about it on his website.
January 18th, 2012
Update: I thought of one more option for making money without a website. How could I forget that I co-wrote a whole book about this?
Amazon.com,Facebook, WordPress, storefronts, and e-commerce marketplaces: These are all potential “home bases” for you online. I used to write that you had to have a website in order to make money online. And websites are still important, don’t get me wrong. But there are a lot more options available these days. Here are some examples:
This is sort of the obvious place to start an online business. You can create an eBay Store, or you can simply list dozens, hundreds, or even thousands of products on this venerable marketplace without having a formal store. eBay is great as a starting point for anyone wanting to learn how to do business online. But more and more people, turned off by its fees and cumbersome rules for sellers, are turning to other venues to find customers.
Add on to Amazon.com
Some people–booksellers in particular–sell their books by adding them to Amazon.com marketplace listings. Their products show up here:
I wrote an article on ECommerceBytes about several sellers who, to my knowledge, don’t sell through a website, but primarily through Amazon, Alibris, and ABEBooks.
WordPress or Another Blogging Platform
A blog can take the centerpiece of your online presence. A platform as robust as WordPress can host a blog and lots of web pages. essentially, it is a website, but one that you can update by posting on a regular basis. My Buddhist meditation group, Jewel Heart, uses WordPress for all of its website content. In fact, if there is a blog on this site it’s a very minor part of the content.
A Facebook Kiosk
Facebook is good for marketing and networking and just having fun. Some people use it for e-commerce, too. You can sell on Facebook through an online kiosk. I’ve written about her before, but Kharisma Ryantori uses her Facebook page to advertise, and sell, her jewelry designs, as shown below.
Twitter: Sell Simp.ly
You can do more and more with Twitter. Some dedicated Tweeters advertise and sell products through the site in short and sweet sales listings. Read about it in this article on the site called Sell Simply.
The bottom line: you need a “home base”, but that doesn’t mean you need to create a website from scratch. You can grow into a website, but you don’t have to start there. Start by piggybacking onto someone else’s site, whether it’s eBay, eCrater, Facebook, or Twitter. Get used to creating sales listings and handling a few transactions. Then you can create a website with confidence–and link to your various marketplaces from it, so can you boost your SEO.
January 17th, 2012
Pricing merchandise is one of the key functions for anyone who sells online, whether you have a few items for sale on eBay or Amazon, or whether you operate a full-featured store with a 1000-item catalog.
Assigning the right prices and staying competitive with those prices can be a frustrating and time-consuming proposition. You want to make a profit, so your price has to be higher than what you paid for the item you’re selling (unless, of course, you’re unloading inventory that never sold in the first place). But it needs to be either the lowest available or at least very close to the lowest when compared to your competitors.
The difference is often a matter of a few cents–or even one cent. Take a look at one of my own books, which you can find on Half.com. It’s kind of painful to look at the prices being offered when you consider that the book sold for about $24.99 retail when new. But this is an old edition and out of print.
If you can’t read this, I’ll tell you that the four prices for this brand new book are (sigh) $1.89, $1.00, $0.99, and $0.97. (You wonder why I don’t write books for a living any more?) Let’s suppose that, for some reason, you wanted to buy this particular edition of this book. Would you pay $1.89 when you can pay $1.00? Would you pay $0.99 when you can pay $0.97?
That’s the problem lots of businesses face, but on a much larger scale. I just spoke to the owner of a company in Wisconsin who has hundreds of items in his product catalog and who sells on eBay. He and his employees used to scan through listings manually and adjust prices so they were the lowest. But the manual route is extremely time-consuming.
“Even if you factor only 2 minutes per product with 200 products you’re talking about over 13 hours a day of work if you do it twice a day,” says the businessperson, who asked to remain anonymous. “Never mind the fact if you tried to pay someone to do that all day every day they would be burnt out before the first week is over.”
Once you get past 100 items in your catalog, it pays to pay a little money for a pricing tool. This sort of tool can be configured to search for items similar to yours and make sure you have the prices you want. You can tell the tool you want to be the lowest, second lowest, or third lowest. You can tell the tool to make sure your items are one cent lower in price than those of your competitors. Here are two such tools:
- In ECommerceBytes recently, editor Ina Steiner wrote about a pricing tool for Amazon.com sellers, Teikametrics.
- I just interviewed the developer of a pricing product for eBay called PriceSpectre.
I’ll be writing about PriceSpectre in more detail after that article comes out. The point is, no matter how much you sell, once you put your items online, keep checking prices against the competition to make sure you’re positioned correctly–especially if you are in a super competitive field like electronics, digital media, or books. Whether you do it manually or use an automated software program, you’ll end up with more sales. Even if your profit margin is a little lower than it would be otherwise, you’ll be better in the long run because you’ll have more loyal customers and hopefully more repeat business.
January 14th, 2012
Here’s my idea of the day. You can have it for free (for what it’s worth): BookBox. It’s based on the Redbox movie rental system. I went to a Redbox last night and impressed my daughters: “Where does the movie come out of?”
So, at a time when bookstores are struggling, why not a BookBox? Put it next to the Redbox. Put in some best sellers as well as some literary award winners. Swipe your credit card, and out it comes. I walked past the old Borders on North State. All the awnings are still up but the place is totally empty…so sad.
The name “Book Box” is already being used at a wonderful place in Chicago. It’s actually one of my favorite bookstores: Shake, Rattle, and Read, on North Broadway. Here’s a good image of the store at night. They specialize in pulp fiction.
January 3rd, 2012
My book Literary Chicago was used heavily as a source for the Chicago Lit section of the new USA Today travel guide to Chicago. I am mentioned, in passing. Is it possible that Nelson Algren drank at the Rainbo Club in Wicker Park? I don’t think so–unless it went by another name in his day.
July 19th, 2011
Fulfillment By Amazon (FBA) is a bigger program than I ever expected. In this program, a seller ships his or her inventory to Amazon.com’s warehouse. You pay a UPS shipping fee, and a storage fee. But when you sell something, you notify Amazon, and they do the shipping for you. You don’t have to box, label, or haul to the post office. And shipping takes place 24/7. These are not the best things about the program. The biggest benefits are:
1. Items stored in the FBA program are eligible for Free Super Saver Shipping, Amazon Prime, or other discounted shipping rates. Thus, people are more likely to choose them. And, items with discounted shipping go to the top in search results when they are tied with competing products that aren’t FBA.
2. Because of the free shipping, you can raise your price to match your competition. Even if you have the same price as someone who is not using FBA, you get at the top of the search results. And when you sell, your profit is dramatically higher.
3. You can use FBA with marketplaces other than Amazon.com. It’s a multi-channel selling tool.
E-commerce is about margin, not volume. If you make $3 on 10 sales you’re doing better than someone who makes $1 margin on 25 sales. FBA not only has a big convenience factor but it raises sellers’ margin considerably.
I am in a funny stage for a writer: I am working on proposals for several new books. This can be a laborious process and it is one that should not be hurried. You have to come up with an idea, first of all. This is not the most difficult part, at least for me. The most difficult part is the tedious process of filling out the chapter headings and subheadings, a description of the audience, a synopsis of the book, and an overview of how the book is organized. Sometimes, the publisher comes to me or my agent with an idea, and I have to flesh out the proposal. Other times, I come up with an idea of my own and send it to the agent, who sends it around to see if anyone is interested. Both of these situations are ongoing currently. Typically, a proposal goes back and forth between publisher, agent and me as many as two, three, or four times. With luck, one or two of the proposals will be accepted. It’s also possible that all of them will be okayed, at which point I have to make some tough decisions.