A product is something that can be sold multiple times, that typically is independent of your time. Examples of selling products online are:
1) eCommerce: Selling physical products where you own the inventory (apparel, electronics etc.). This is straightforward, but needs you to think about how to store items, deliver them on your own etc.
2) Dropshipping eCommerce: Selling physical products where you don’t own the inventory (apparel, electronics etc.) This is typically done where you partner with a supplier (through services like Ali Express) to ship items directly to customers (which usually results in lower margins).
3) Virtual (Digital) Products
: Selling anything that can be downloaded or sent electronically. For example, eBooks, courses, graphics, videos etc. What’s great about virtual products is they don’t need you to worry about inventory and shipping, since it’s all delivered online (an example of this is my Digital Marketing book
4) SaaS (Software as a service): Next up is software that you charge people for. For example, sending Newsletters through Mailchimp, or Zoom for video calls. This is usually done on a recurring basis (charged monthly or yearly), so although it’s probably the hardest on this list to scale, it’s a very attractive way to make money online. It could also be done on a transaction basis, such as charging platform fees or a % (Patreon, Upwork etc.).
5) Digital Data / Attention: This involves selling data online. The most common approach is to sell personal data. For small scale companies, this usually involves selling business leads (for examples, what property sites do). For influencers, this could involve selling their audience by doing “shoutouts” for brands, which involves selling “attention”. For larger companies, it could involve selling the option to target their users online (Facebook ads, Google ads etc.)