The one year anniversary of start of your web business rolled around, and you had 8,126 hits to your web site by 3,712 people for calendar year. That averages out to about 10 visitors a day. In analyzing these figures, it shows that some of those people were intrigued enough to visit other pages on your site during their visit. Like a robust meal, some came back for seconds and maybe even thirds.
Statistics show, that only a small percentage of people visiting a web site actually buy something. Now if you're selling a "high ticket" item, that could have resulted in thousands of dollars worth of sales, and may be perfectly acceptable. A "low ticket" item, on other hand may have only netted a small amount, and made a small profit or barely recovered costs.
The web site selling "high ticket" item must balance their production capabilities with demand. Maybe they can't handle any more customers. The person selling "low ticket" items has their work cut out for them.
So let's concentrate on what "low ticket" person has to do. The pundits say that you must sell yourself first, and product or service will be an easy sale. Well this is true to a certain extent. You must however have something that is saleable, at a competitive price.
Let's talk about price. Yesterday I was browsing through an online Garden Supply Store - yes it is getting to be that time of year. Common items were typically priced at almost double what I could get them for in our local store. While I got some good ideas, that vendor lost a sale. Prices must be competitive - and if you add shipping and handling, differential is even higher. So, concept of selling locally available items at a higher cost just doesn't make sense. The online entrepreneur is going to have a very difficult time competing with chain stores.
So does that mean that there is no market for an online entrepreneur? No! There must however be a product line that is not normally available in local outlets - in other words a niche market.