There are a couple of ways to approach this.
When the masses search the internet they are usually doing one of two things:
1) Trying to solve a problem.
2) Looking to be entertained.
Yes, there are many ways to break these two searches down even further.
- You can look for the latest trends.
- You can search sites like Amazon or eBay to discover what is currently selling.
But the big challenge is that most of these searches are being made by physical product sellers.
And when it comes to selling physical products online there are some major issues:
- Shipping and handling fees: With physical products comes physical delivery.
- Storage issues: Physical products require more storage, staff to manage and track them, as well as more upfront investment.
- Harder to scale: Scaling with a physical product is also challenging.
What about dropshipping physical products?
(For a while) there was a big movement toward dropshipping products. This was an attempt to get around many of the headaches involved with physical products. However dropshipping has its own set of unique problems:
Lack of control. The product can discontinue or increase in price at any time. Bulk discounts. Others can buy larger volumes and outsell you. Race to the bottom. Some commodity products quickly lose profit. Stock Shortages. Stock shortages are one of the most common problems. Refunds! No one talks about them but as the middle man, these can be a nightmare! Customer complaints. Since they purchased the product from you they will hassle you about their problems. The logistics of returning the product to your supplier can also be complicated.
However, the service that anyone selling a product or service needs is advertising. Not only that but offering advertising is a ‘digital product’ without the problems associated with selling physical products (online or off).
Look at these numbers:
In 2020, the number of small businesses in the US reached 31.7 million!
These figures also represent sustained growth as it marked a 3.15 percent increase from the previous year and a growth of 7.09 percent over the three years from 2017 to 2020.
You may be surprised because we were in the middle of the pandemic in 2020, right?
But according to NPR…
The latest business formation number is out:
- People started over 440 thousand businesses in June 2021.
- The sixteen-month period from March 2020 to June 2021 marks a record high for business startups.
- More people are starting businesses each day.
And because of that, they need advertising!
Do you think that offering advertising services online is out of your reach?