Online health business is one of the best and most profitable industries for doing business on the internet.
According to TheBalanceSMB, the health and wellness industry is worth over $3.7 trillion globally.
The sector creates a wide range of opportunities for people who are not health professionals to engage in sales of health and wellness related books, products, and services that help treat various health problems.
There are various types of online businesses.
As discussed in Evolution of Online Business – An Untapped Goldmine, online health business is just one among the available online businesses you could do.
Having shown great interest in the online health business, the next is to know how to invest in the business and realize a huge profit.
The good news is online health niche requires less capital. You don’t need a certificate to do it.
In fact, you don’t need to be a publisher to sell health and wellness books and you also don’t need to be a manufacturer of fast selling products to enter the market.
What Online Health Business Owners do
You don’t have more than seven things to do. And with what you’re about to learn in this post, you have all it takes to compete well in the industry.
The competition begins with answering a question you ask yourself silently since the beginning of this post.
I know you ask yourself:
I’m neither a doctor nor a pharmacist, how on earth can I do online health business successfully?
This is a common question that comes up whenever I recommend online health businesses to people.
You’re not the only person who’s concerned about the need to be an expert in prescribing and dispensing drugs to people. Everybody asks this question just like you do.
But you need to know, the online health business has nothing to do with drug prescription and dispensing.
This post will answer the question once and for all. And it’ll clear some of the existing misconceptions concerning online business.
However, you don’t have to be a doctor or pharmacist before you can run an online niche in the health and wellness industry. The reason is that the scope of the business is limited to alternative medicine.
Online Health Business as an Alternative Medicine
First of all, know that you can’t dispense and prescribe drugs as an online health business owner. This is truly an area you can’t cross. You can only sell drugs based on an existing prescription.
In fact, you have nothing to do with prescriptions. Your own is to display what you sell, and anyone in need of it buys from you. That’s all.
Secondly, the kind of drugs you’re meant to sell are not ethical. They’re called alternative medicines.
Alternative medicine, according to Wikipedia, is a collection of health related products, therapies, practices, or theories that people take in alternative to experimental medicine, whose healing effects are questionable.
Sub-Niches of Online Health Business
Because the online health business has a great impact on the proliferation of alternative medicine, it has many different markets and many sub-niches where you can establish yourself.
You may focus on any of the following conditions, arthritis patients, people that want to get rid of body fat, back pain, diabetes, hair loss, or people that are being placed on food supplements like vitamins and anti-ageing drugs.
So, in as much as you’re interested in this business, all you need to do to get started include these seven great steps;
Identifying Your Niche:
As said, online health business is complemented with various sub-niches. So find one that is suitable for your business.
You can start your business in any of the following sub-niches:
- Digestive Health
- Anti Aging
- Weight Loss
- Back and Neck Pain
- Hair Loss
- Reproductive Health
- Healthy Eating
- Sleeplessness and so on.
Authors disagree on how to choose a niche. Some argue that your niche should be what you have a passion for.
The other holds, from a business point of view, market demand should determine what niche you should choose.
Andre Youderian, in Niche Products: How to Find Profitable, In-Demand Products to Sell condemned the claim that says you should follow your passion in choosing your niche. He says:
…I think it’s dangerous advice that can lead new entrepreneurs astray.
There is no sense in carving a niche that has no market demand. With a lot of hard work, a profitable niche will trigger your passion soon after the business starts.
So, don’t labour in a niche you have passion for but which has no profit.
Defining Your Niche:
What defines your niche includes its track record, demand, market share, tendency to sell high demand products, it’s social media friendly, and competitive nature.
If your niche possesses these features, then it’s good for business.
Studying Trends in the Industry
Since you’re not going to be a producer or manufacturer of your health products, there’re different businesses you can partner with. But the problem is they’re many. You have to study the market and identify the best selling products that fit your own business niche.
Amazon is a popular seller. Find out which products sell fast on your list. Such products must be popular on search engines, and those ones receive massive attention on social media.
As much as there’re various sub-niches in the online health business, there’re many different sellers you can do business with.
Discovering Products Suitable for Your Niche
having identified your niche, let’s say in diabetes. In order to discover suitable products for that niche, you have to find out about anyone whom the sickness has affected before.
The sickness could have affected you or a member of your family.
Do thorough research to have a deep understanding of how the sickness affects people, how it can be cured, and how you can manage other people currently suffering from the same health condition. That makes you discover what products are suitable for your niche.
You don’t have to trouble yourself on how to get suitable products for your niche. There’s a great advantage in selling other people’s products. And your concern is no longer creating and maintaining your own products.
Use ClickBank to search for different products. Look for the best selling products under your niche. If you search and find no products under your category, it means your niche is new and that isn’t a good result. You have to go back to step two and redefine your niche.
If the result has a list of some products under your niche, that’s a lot of good luck to you. At that stage, you can start imagining what your profit will be. It’s your investment, go on.
Using Drop Shipping Platform
Drop shipping is the platform used for promoting and selling other people’s products on your website or social media pages and get a commission.
With your marketing strengths and efforts, the platform can be used to run your online health business.
Whenever a customer buys on your site, you pay less to your drop shipping partner. After taking your commission, the company then sends the product to your customer.
You bring customers to your website to buy and the drop shipping partner takes care of shipping the products to the buyer.
The advantage of this business model is that you need no storing facility of a big inventory, no warehouses, and no paying delivery agents. Your drop shipping partners own the responsibility.
Using Affiliate Marketing
Affiliate marketing gives you the opportunity to market and sell other people’s products via your website, blog, social media platforms, email list, and so on.
According to Neil Patel, with affiliate marketing, you earn a commission every time a click on the link provided to you by your affiliate partner sends a visitor to the selling platform of your affiliate partner and a transaction commences.
You can earn between 5% and 25% on every successful sale your website makes.
Your affiliate partner is responsible for taking the order, processing, delivery, and customer service.
Using Marketing Strategy
There’re various ways to market your online health business and increase your traffic.
a. Content Marketing
This is creating content that can bring people to your website. The trick is when they visit your website and see the products you sell, there is a tendency they buy.
In other to fully utilize this advantage, the structure of your content must comply with the latest SEO rules.
Some of the latest rules that guide structuring your web content include writing posts that serve a great purpose for people. Stuffing your website with related keywords doesn’t work anymore.
Google algorithm rates great content very high since people will benefit more from the message the content passes than the keywords it contains.
While reviewing the products your want to sell on your website, put a lot of effort in creating great content that will boost the traffic that comes to your website.
b. Social Media Marketing
Social media can also be used to market your online health business and convert engagement to sales. They can be used to convert friends into potential customers.
Facebook, Instagram, Twitter, Whatsapp, and so on, offer both free and pay advertisements through which your content can get enough exposure it needs to generate organic traffic to your entire website.
For example, Facebook Page was created for business. You too can create a page on your Facebook profile where you can display all your content and even your products.
Be consistent with your posting and marketing strategies until you become an authority in your niche.
c. Pay-Per Click Marketing
Having invested time and efforts in your online health business, the next to consider is to invest money in it. It’s highly recommended to use PPC to promote your own business.
This approach turns out to be the fastest way to generate clicks to your website. It helps you convert the traffic you generate to sales.
All search engines and social media offer PPC marketing that you can adopt for your business. Try anyone, but note that Google has the largest coverage which your business needs most.
When you apply for PPC marketing on any search engine, an ad is created for your business.
The result is, that the ad allows your website to appear on search result pages as well as on apps, browsers, and websites owned by other people who have also signed up to Google AdSense.
Another advantage you get from PPC marketing is that it makes your website and its content appear in the right context whenever there’s a search query related to any of the keywords your website is ranked for.
Meanwhile, PPC marketing is not for free. The implication is that each time someone clicks on your ad, you pay a small fee to the search engine provider. That’s why it’s called “pay-per-click”.
The whole of these steps can make whatever niche you choose to be an evergreen. Follow them one after the other and begin enjoying a great business experience in your online health business.
Do your research very well on any topic related to your niche. Identify a problem and find a product that can solve the problem. Repeat this method all the time you need to write a new topic.
That’s how to start making money in the online health business. You can also read Best Business Ideas to Help You Get Online Job.
What’s your own view about online health business? Please use the social buttons to share this post or fill out the comment form and submit your comment below.