A Comparison Site as an online passive income idea
Most people when trying to become good at making money do so by doing things that they are most interested in. If building or working on a website is something that appeals to you then you have a much better chance at making money at it than those that don’t find it as appealing. There are many different types of sites that you can try to turn into money makers but one that has real potential to it if you have the knack for it, is building a comparison site.
What Is A Comparison Site?
The first thing that you’re going to like about a comparison site is that you do not have to directly sell any items in order to make money. What you are doing is offering a service where customers can do some comparisons on a product that they are interested in. So your site is going to be compiled from all of the major products that people are most interested in, and it will contain the type of information they need to come to an informed decision as to if they want to buy it, and where they want to buy it.
When users are using this type of site they want to be able to compare the price of a product or service as well as what features they each offer, and whether there is anything unique about the offerings.
This is not an easy site to get up and running and it comes with a learning curve, but you may find that the payoff for it is enough to entice you and appease you for all the work that you have put into it.
Where’s The Money?
What type of money you’re going to make is going to be based on the type of a product line that you have chosen to set up as a comparison site for. Some high end products are much more difficult to sell. When sales are made then the commission price that you will get from the sale being made as a result of your site can be quite hefty. However, if you go with a lower end of products you may end up making more sales which is going to balance out in comparison to what you made off the high end ones.
So, for example, if you are selling a product that is worth $50 and you are getting 10% you’re going to get five dollars off of that sale. If you sell 20 of those in a day you’ve cleaned yourself $100. If you are selling a high end product that you want to make $100 off then that product is going to have to sell a $2000 product. You need to determine if your comparison site is bringing in enough traffic that you would be able to sell 20 of the lower priced items.
Setting Up Your Site
Collection of material: You have the task ahead of you of gathering all of the data that is going to be needed for the comparisons that your visitors to your site are going to want. You can go directly to the merchants to gather this information, or you can allow the retailers to up load their own products and information. You can also use APIs to do this quickly a but you are going to have to put out some money rather than time for this. You can also use the system called web scraping however you will have to verify the data that you are collecting through this method.
Naming of products: This is something else that you’re going to have to focus on as one product can have many different variations to their names, and you want to be sure that you are going to be found in the search engine when that particular product is being searched for.
Ease of use: You have to be sure that your site is built in such a way that it is going to be user friendly. Visitors want to be able to do a comparison quickly. This is the whole reason they are using your site and if your information is not laid out properly then this is just going to be a source of frustration for them and they are going to move on.