Wednesday, January 21, 2009

I am trying to brainstorm products and services to sell online. I’m having a difficult time narrowing down the choices to put forth my best effort.

Dhawk Asks:

Do you pay for services on the web?  What type of services do you pay for and how much do you pay per month?

Rob’s Answer:

This is an interesting question.  Thank-you for posting it and making me reconsider the fundamentals of eccomerce.

1) DIRECT ANSWER

Personally, here are the things that I subscribe to or regularly buy:
Website Hosting (a couple of servers in a couple of locations)
iTunes
Audible
Geek uniforms from here: http://www.teefury.com/

One of the things that people won't necessarily admit to is online pornography subscriptions.  While I've never subscribed to a site, I know that the revenue received from adult sites eclipses any other form of online sales.  Personally, I chose not to do business in this arena but understand the importance of it online.

2) SPECULATION AND RESEARCH

Since the Internet changes perpetually, I try to constantly think about what people want to purchase and subscribe to.

This article lists 8 categories that I think pigeonhole current successful ecommerce:
http://www.kk.org/thetechnium/archives/2008/01/better_than_fre.php

Those categories include:
Immediacy
Personalization
Interpretation
Authenticity
Accessibility
Embodiment
Patronage
Findability

While this specific article discusses piracy and the changing practices of media distribution, I find these categories to be timely and accurate when applied across multiple arenas.

When evaluating new products and services to spend my time on, it is helpful to think about each of these 8 categories.  If a product or service overlaps across 2 or more categories, the value of that product or service increases.

Combining these 8 categories with Maslow's Hierarchy of Needs results (more often than not in my experience) with a winner.

http://en.wikipedia.org/wiki/Maslow%27s_hierarchy_of_needs

Maslow quantified the basic needs of people.  When these needs are met, people become compelled to purchase a product.  When that product is compelling AND exists in one or more current economic trends, you again increase your odds of success.

3) REAL WORLD EXAMPLE

Mahalo Answers is a good example of a product that will likely be successful.

It fits into these categories:
Immediacy
Interpretation
Patronage
Findability

Mahalo Answers also fits into these Maslow groups:
Self-actualization
Esteem
Belonging

So Mahalo answers is (on the surface) a strong product.  Some other factors that I would want to carefully review include: management, labour, structure, competition and revenue model.  With clear and correct information on all of these things, you would have a good idea as to the specific strengths and weaknesses of the productat a low level.

I hope that this helps!

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