Drop servicing is a fruitful business model! However, picking your niche can either take you up or down. So, how do you choose the best drop servicing niche for your business? This is what you’re about to learn.
Two of the many factors that you need to consider when choosing a niche for your drop servicing business are your knowledge and service profitability. Although you don’t need to be an expert in the service you offer, you should at least understand how it works. Additionally, the service should be profitable so you can assure of making some good profits!
So, what are some of the best drop servicing niches to start re-selling today? This is a question that a lot of entrepreneurs ask when they are considering venturing into this business model.
In this article, I will be going through the exact 5 aspects of choosing a drop servicing niche, and will also share my picks for the top 7 niches that will bring you monthly recurring revenue!
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What Are The Best Recurring Drop Servicing Niches In 2023?
In short, listed below are the 7 most profitable and recurring drop servicing niches that can bring you money for the longest period of time possible:
- Social Media Management
- Search Engine Optimization
- Public Relations
- Video Creation
- Transcription Services
- Content Writing
- Programming & Development
Animation advertising, on the other hand, is a very underserved drop servicing niche that can make you a lot of money.
If you’re not sure where to start, click here to partner with a powerful animation advertising agency where you can resell their videos without wasting time installing complicated editing software and spending money on expensive motion graphics designers.
How to Choose Drop Servicing Niches and What To Consider When Picking
Drop servicing, as a business model, allows you to sell any service online. However, you can’t sell anything you’re not knowledgeable about!
When it comes to choosing drop service niches and services, there are, in fact, many factors that determine your business’s success.
Here are the questions that you need to figure out answers to when picking a servicing niche:
– Is There A Demand That You Can Supply?
People don’t buy products and services, they buy solutions to their problems! And in order for you to be able to sell your services online, there should be a demand for them.
As more and more gadgets continue to get online, so does the opportunity to provide the owners of these gadgets with something to read and tickle their brains so.
So, services like content marketing will always have demand that you can supply, but that’s not enough. This is what you should take into consideration next…
– Does This Service Have A Relatively Low Competition?
Where there’s competition there’s a need! However, you should be aiming to shoot for services at a relatively low competition level.
While competition could be a great sign of the popularity of a service, it can be tough to compete with big guys who sell the same service as yours, have higher advertising spending capabilities, and have more authority in the market.
– Is This Service Profitable?
The whole idea behind the drop servicing business model is to flip other people’s services for a higher price and keep the difference.
You can definitely set your own rates but within reason. Taking into consideration what others’ rates are and what can actually be offered.
The profitability of service is not only determined by the profit margins that you can achieve but by the service’s cross and up-selling opportunities.
You should figure this out; are there any complementary services that can be offered with the service? Can I offer one whole bundle?
If someone buys my service, is there anything else that I can sell them to?
Those opportunities will not only increase your potential revenue but also your customers’ average order value (AOV).
– Are You Knowledgable About This Service?
You’re not asked to be an expert in the service, but you should (at least) understand how it works!
Having knowledge about the service and how it does exactly work will put you a step ahead and allows you to answer any question you may be asked by clients.
That especially applies to complicated services like SEO (Search Engine Optimization) in which there are many aspects, information, and strategies that are involved in the process.
Remember; you should aim to look professional and authoritative in what you do!
When customers feel that you are knowledgeable and familiar with what you’re offering and talking about, they would be more incentivized to buy from you and give you their money.
– Is There Room For A Monthly Subscription?
What’s better than keep getting paid for months or even years to come?
Some services are long-term types of services that have an accumulated outcome effect over the months.
I mean, it takes months of hard work to rank a webpage on the first search page on Google, so it won’t be a hit-and-run sort of business, it’s a commitment that allows you the drop servicing business owner to earn monthly recurring revenue.
The 7 Top Niches To Drop Service
Below are my picks for the 7 best drop servicing niches in 2023 that you can drop service and keep getting paid for months or even years to come:
1. Social Media Management
You can barely find a small business that doesn’t have a social media account or a couple of ones.
Day after day, people are realizing the power of social advertising, but the trouble is that over 62% of business owners miss their targets and fail to generate any revenue, according to Small Business Trends.
There are multiple tasks that can be done on social media. Some are:
- Building trust and awareness for a business.
- Product advertising through targeting and re-targeting.
- Providing customer support on social media.
- And much much more.
Social media advertising requires a good portion of expertise, so be picky when choosing the freelancers you work with.
It is a great and flexible side hustle that you can start from the comfort of your home while helping others get more clients and customers.
Do you want to learn more about how to become a Facebook Ads Expert and help local business owners get more business? Check out my other article here.
2. Search Engine Optimization
Search engine optimization is the act of optimizing a website in order to help it get ranked on the first Google search page.
Although it requires good knowledge from you (the drop servicing business owner), and from the freelancer that’s going to do the actual work, it has a great potential for financial gain.
Optimizing webpages for search engines is not an overnight success! It requires months of hard work to get awesome results.
Therefore, when it comes to SEO, customers are more likely to commit for at least 6 months to get the desired outcomes.
Search engine optimization covers different areas. Some topics are:
- On-site optimization
- Off-site optimization
- Content writing
- Backlink building
- Keyword and competition analysis
You can either charge per a single job like researching a competitor’s website, or offer a fully managed SEO bundle for a fixed price!
If you were able to bring an SEO client, be prepared to get paid for months, or even years to come, without even doing the job or getting involved in anything!
3. Public Relations
This is one of the most wanted and needed skills nowadays; to build healthy relations with other people in your industry.
Yup, this is still related to SEO, but it’s more focused on reaching out to other businesses to get backlinks.
Have you ever heard of a website called HARO?
It’s a shortcut for “Help A Reporter Out“, and it connects reporters with experts and sources.
Chances are that every blogger has leveraged, or at least heard of this great platform, that helps you get valuable backlinks while helping others with their articles or research.
This is a constantly needed job, and website authority is something that business owners and bloggers can’t get enough of!
4. Video Creation
Videos are becoming more appealing to people as they are becoming busier! No one has time to read long articles and product/service reviews.
They would rather prefer watching a video on that topic!
According to Dream Grow, a video is a great tool for learning and it engages even the laziest buyers!
This happens mainly because video is on its way to becoming the only advertising medium on social media networks. Animated videos that were created with a pattern interrupt marketing approach in mind have been proven to convert better.
Being said, here are what you can offer when it comes to video creation:
- YouTube videos
- YouTube intros
- Product ads
- Video animation
- Educational videos
- Slide videos for blogs
Videos are a matter of preference. Some might be satisfied with the video from the first delivery while others may require a little editing.
Just make sure to pick freelancers who are willing to offer unlimited revisions, just to make sure you satisfy your customers with the least cost possible!
Tip: You can use services like Standout Clips to create 3D videos without wasting time installing complicated editing software and spending money on expensive motion graphics designers.
5️⃣ Transcription Services
Transcription is the act of turning a piece of record or interview into a written text, and it generally aims to record the way how something is said.
In fact, transcribing is a painful and time-consuming job, and requires a lot of experience. That’s why most business owners feel more comfortable outsourcing this service!
It’s a very needed service, and it can include:
- General Transcription
It can include offline captioning, legal transcribing, data entry, and financial/corporate transcription.
Here are 21 best companies offering this type of entry-level transcription job, which each offers transcribers short bits of audio to transcribe at a set fee.
- Medical Transcription
This form of transcription requires training and certification.
Unlike general transcription, medical transcription requires post-secondary training — either a 1-year certificate program or a 2-year associate’s degree.
- Realtime Transcription
This may be the hardest skill, which involves listening to live audio and typing it. It’s obvious that it requires very high typing speeds, accuracy, and specialized stenography equipment.
Is transcribing a skill that you’d like to acquire?
Transcribe Anywhere offers comprehensive courses that will help you to get started with general transcription and legal transcription. These courses provide the best training available and can be completed at your own pace.
However, if you cannot invest that amount, for now, jump on the free mini-courses, put your feet into it, and test its water!
- Free general transcription course (Enroll for free here)
- Free legal transcription course (Enroll for free here)
6. Content Writing
Have you ever heard the saying: “Content is king?“
Yup, content is everything! No matter what you’re selling or doing on the internet, you should be producing valuable content which can even be in the form of articles or visually appealing as videos.
Valuable content production requires skills and a lot of experience, and it may include:
- Ads copy
- Guest posting
- Writing video scripts
- Product/service reviews
And much more than this!
Long story short, websites are worth nothing without content, and it’s the most in-demand service on the entire web nowadays.
The cool thing about this skill is that it requires constant effort and it’s not an overnight success to get the desired outcomes.
So, as long as you’re able to provide valuable and rich content, your clients are more likely to keep paying you month after month to increase their websites’ authority and content size.
7. Programming & Development
Today, while retail is dying, everything is just becoming more virtual, especially in the era of the Corona Virus!
Thousands of big brands and retailers have shut down in 2020 as the retail apocalypse drags on, while thousands of websites are created on a daily basis.
People are flocking towards starting an online business or a website as a backup plan and a replacement for their sucky jobs!
The trouble is that most people don’t have the needed skill for starting an online business or website, and here’s where you can come into place as a solution.
This service has multiple things that can be offered, some are:
- eCommerce/Shopify customization
- WordPress development
- Website creation
- Site speed optimization
- Plugins creation
- Chatbots integration
- Apps development and creation
Technology keeps evolving and rising! So, there would always be a demand that programmers can supply!
Web developers are highly needed by companies and businesses to turn their ideas into reality or make their businesses run flawlessly.
It’s obvious that a website will be the cornerstone of any kind of business. No matter what services you’re planning to sell, the foundation of your drop servicing business starts with a website.
In this article, I’ve shared my professional insights and recommendations on what should you consider when picking your drop servicing niches.
Plus, I’ve also talked about my picks for the top 7 drop servicing niches that can bring you money for the longest period of time possible.
Finally, establishing a healthy relationship with your dream customers requires building trust with them, and delivering exactly what you promise!
If you’d like to learn how to geometrically grow your online business, I highly recommend you grab your FREE copy of the Dotcom Secrets Book here.
The Dotcom Secrets shows 28 virtually UNKNOWN secrets to growing any company online with sales funnels.
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