What are the best innovative online business ideas? Given that the internet connects everyone to everyone, isn’t there a business concept which uses automation and the internet? Of course there is and what’s even better is that it’s something anyone can do.
The internet had made it possible for many innovative online business ideas to be sold internationally. But what if you don’t have a business of your own to take to the internet? Is there a business model which you can replicate?
Innovative Online Business Ideas
Anyone with a business idea can take it to the internet to promote their business online. That’s nothing new – well not that new anyway. But what if you are starting with no business? What if you could use the internet to build a business which can be automated and scaled up globally? That’s exactly the concept developed by Stuart Ross and Jay Kubassek when they built a business community dedicated to helping others succeed online.
The concept for this business model is digital products. Digital products are great for an online business for a number of reasons:
- They can be sold easily over the internet and accessed via website or download
- Anyone can sell these products for a commission as an ‘affiliate’
- Scaling up is easier when the delivery of products is automated
- Products can cater to a wide variety of international customers
Innovative Online Business Ideas – My Story
I was working away at a little eBay business model which I share in my article here. I found this model through an eBook which I had bought from eBay itself. The eBook, struck me as one of the most perfect innovative online business ideas.
It allowed its seller to automate the selling process and sell anyone his eBook through a single listing on eBay. He could sell internationally too without needing to organise postage. Anyone with an internet connection could access it and download instantly once payment was taken.
It was the idea of this eBook which led me to a business model known as affiliate marketing. Affiliate marketing lets anyone sell other people’s digital products over the internet. After a good amount of trying to sell my own products online, I found success with other people’s products.
What Is Affiliate Marketing?
Affiliate marketing is one of the most successful online business strategies. It basically allows anyone to promote products online to earn commissions. The affiliates send qualified website traffic to various products and services on the internet. When a sale is made, the affiliate link which referred the sale is tracked back to the affiliate, who receives a commission.
Affiliate marketing lets anyone build an online business without any products of their own. You can earn 40% commissions with many digital products too. As an affiliate marketer, you are effectively the front end of a business. You send traffic and leads to products. The back-end of the business is delivered entirely by the company who owns the product. So they close the sale, deliver the product and deal with the customers.
Tools Of An Online Business
To generate traffic and make sales the affiliate marketer does a number of things. They build content (like this article), they create adverts, and they generate interest in products and services through giving value. Some affiliates produce videos and others make podcasts and deliver webinars. The goal of the affiliate marketer is to build value into their ‘brand’ and find qualified leads. From there they can recommend products and services and generate sales.
Auto-responders are automated email delivery services. They are used by affiliates for delivering regular and useful emails to potential customers and building value. After a visitors lands on a website, they are given an option to opt-in for an offer or freebie of some kind. If they do, their name is placed on a subscribers list and they are delivered a series of automated emails. Emails can contain useful information, discounts and offers but they also will contain affiliate links to certain products and services.
Websites are used to build traffic and generate leads for the affiliate to build their email list. A website is a 24 hour digital ‘shop front’ which can generate traffic 24 hours a day, 7 days a week non stop. By advertising a website by either paid advertising or by creating useful content, the website owner can build a steady growing stream of targeted visitors.
Although affiliate marketers can promote any product which has an affiliate program, many choose digital products. Digital products can be sold anywhere globally and with no delivery cost except the internet connection. As such, product owners can afford to pay higher affiliate commissions than with physical products. Digital products vary and some can continue to pay the affiliate long after the initial sale. For example, products with up-sells can offer a range of products to existing customers for which affiliates will receive more commissions. Subscription products also allow regular commissions from a single sale.
Paid Advertising Platforms
One of the main tools of top affiliate marketers is online advertising platforms. Platforms like Google’s Adwords program lets anyone advertise on their search engine and send specific search intent visitors to a website or landing page. Facebook has another advertising platform which allows advertisers to target very specifically who they aim their adverts at. YouTube, again is another platform which allows a very targeted and specific type of person to be advertised to.
Innovative Startup Ideas
Using all these tools in conjunction with each other means online marketers can automate much of their business. Although there is a lot to be done to build a business like this, once the systems are in place and running, the automation gives the owner a lot of freedom. The best innovative startup ideas offer a business model which lets you automate sales and allow you to build a business around a lifestyle rather than the other way around.
Access an online business system, community and education platform here.