Online Business - 5 Ways to Make More Money Than Your Competition

Online Business - 5 Ways to Make More Money Than Your Competition

It is a sign of a good and lucrative niche when more than one person or company is making money. A good and healthy niche is one that you find many competitors in because this means that there is more than enough money to go around. If you understand your competition you can really bank off of it and end up with a better product and more sales than them. Here are five ways to beat out your competition and make substantial income online.

The first thing that you need to do is understand exactly what type of product your competition is selling. Yes, this means you will have to buy it so you can study it and figure out how and why they are so successful. Then you will break it down and offer a good chunk of the meaty information to your visitors FOR FREE. You will be able to give it away after you expand the product to make it better and offer your visitors more than your competition.

Secondly, offer your product up as an affiliate. Since it is more than likely a digital product, there is no limit to the amount of products you can sell. So it only makes sense to have people help you with sales and offer them a great commission in doing so.

Third, offer contests for your affiliates. Offer them cash and prizes for the person who brings in the most amount of sales during a certain period. Be careful not to offer too much where it won't be profitable for you though.

Next, besides just listing your product as an affiliate you should also seek out JV partners as well. There is no better way to beat out your competition than to get some other big dogs in your corner. If you are offering a different product than your competitor, why not make friends and team up with them? It could be a win-win situation for all parties involved.

And finally, add some kind of incentive for people to buy your product over your competitors. This could be a lower cost, more bonuses, added support, installation, ongoing counseling, or discounts off future purchases. Any incentive that you offer that you competition doesn't will get you further in the sales process. Just make sure that you also limit the amount of time they have in which to accept the offer as well.

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