Posts Tagged ‘web analytics’

Identifying Your Market on the Internet

Friday, February 8th, 2008

FORGET ABOUT YOUR PRODUCT IDEA.

Seriously. Wipe it right out of your head.

Now, I’m not saying that product idea is going to doom your business to failure.

But what I AM saying is this:

When it comes to Internet marketing, it’s not WHAT you sell that counts — it’s WHO you sell it to!

If you don’t take the steps necessary to make 100% sure there is an easily reachable market of people online who WANT TO BUY something you can sell them, then there’s a strong chance you’re building your business on QUICKSAND.

That’s why in all of our programs and courses, the first thing we always, ALWAYS urge you to do is…

MAKE SURE YOU’RE SELLING TO A NICHE MARKET WITH
REAL PROFIT POTENTIAL!!!

By “niche market,” I simply mean, a group of people who have a certain problem, and are ACTIVELY looking for a solution online without much luck.

(And of course, they must be willing to pay good money for that solution!)

If you can provide that group of people with a product or service that solves their problem, then your business has a good chance of making money.

BUT: No matter HOW fabulous your product is — if no one is looking to buy that product — or something like it — online, then your business will collapse like a house of cards.

It’s just that simple.

This isn’t just for beginners, either… Even if you already HAVE an online business, you STILL need to make sure that you’re targeting viable niche market. It’s the only way to make sure your business is built on a solid foundation.

How do you make sure you’ve identified a market with great profit potential?

you need to research your market online and find the answers to these four important questions:

1. Is the market easily defined and reachable?

You need to know where they hang out, what publications they read, if they have clubs or events that bring them together, and where they look for or share information online.

Most potential markets will already have places where they congregate. Look for groups, forums, discussion boards, clubs, and special websites — a simple Google search should bring up places to start. Links on any promising sites you find will point to other useful sites.
2. Is the market small enough that there are not many competitors — but large enough to allow you to make a profit?

You want a small pond, but it still needs enough “fish” in there to make it worth your efforts.

If these competitors look well supplied and well funded, it may be more difficult for a small business to compete for eyeballs, traffic, and PPC keywords. Too much heavy-duty competition is a sign that you should look for a smaller, more precise niche.
3. Will this market actually have and spend money?

You need to know if these people actually buy stuff!

It’s actually a good sign if there are sites selling products for the market. If related products are being sold profitably, you know there’s a viable market and you should consider these businesses as potential joint venture partners.
4. Does the group have a ridiculous amount of passion for the hobby or topic?

A motivated market eats, sleeps, and breathes their hobby.

You’re looking for prospects who are so passionate that they must have all the information related to their subject. Think about video gamers or collectors… their obsessive passion is a big reason those markets are so huge!

Admittedly, this is just the tip of the “niche market research” iceberg.

There’s a whole lot more you need to know, in terms of doing quality keyword research and how to find your niche market online. But no matter where you’re at with your research, you always need to keep these four questions in mind.

They’re the questions that will help you determine whether you’re sitting on a sand pit… or a gold mine!

by Derek Gehl

http://webtrafficanalysis.net/2008/02/08/identifying-your-market-on-the-internet/

Internet Marketing Strategies

Tuesday, December 18th, 2007

Today I’d like to answer a question that Izak, one of our readers, recently sent me.

Izak’s question reflects a common problem people have when they’re first starting out.

Here’s what he’s currently wrestling with:

“I have designed a website for the sole purpose of advertising affiliate products. I have 6 affiliate products on different pages on the same website that are in the same category like wellness, health and beauty. However my problem is how to write the sales copy or introduction page with the correct wording to attract visitors/buyers.”

First off, Izak, I’d just like to point out that “wellness, health, and beauty” are HUUUGE markets! I just plugged each of those terms into Google and here are the results I got:

Health: 1,760,000,000 results (Yes, that’s almost two BILLION.)

Wellness: 173,000,000 results

Beauty: 1,060,000,000 results (Again, we’re over a BILLION.)

Quite frankly, you will never achieve success if you’re going to set up a general website promoting products that treat a variety of health, wellness, and/or beauty problems. You’re going up against WAY too many competing sites.

And you’ll never be able to write the kind of highly targeted salescopy you need to attract qualified visitors to your site.

(Because someone who’s looking for, say, organic wrinkle cream is not in the same market as someone who’s looking for a naturopathic treatment for Crohn’s disease — and there’s no way you can ever build a website that effectively sells to both of those people.)

So. If you want to have any hope at all in competing in these incredibly large markets, you need to do three things:

FOCUS, FOCUS, FOCUS.

You need to FOCUS on your individual product pages — NOT your main homepage.

You need to FOCUS on ONE specific problem each of those individual products solves

You need to FOCUS your pay-per-click and search marketing efforts so that every ad and article you write addresses that ONE specific problem and takes visitors straight to the landing page for the product that solves that specific problem.
In other words, Izak, you need to divide and conquer!

The best way to guarantee your online success is to make sure each of your affiliate product pages appeals to a highly targeted group of people.

Start off by looking at one product at a time. Look at the different health or beauty problems it claims to solve. Now use an online keyword research tool such as Wordtracker.com or Keyworddiscovery.com and do some research on each of these problems.

What problems are people searching for information about? And what are the specific keyword phrases they’re using to describe them?

Keep your eyes open for keyword phrases that are getting a lot of searches, but don’t have a lot of strong competition for them.

You should follow up your keyword research by visiting health and beauty-related blogs, forums, and groups to see if people are talking about these problems — and what they’re saying about them.

What problems are they having a hard time solving? What do they like about the solutions that are currently available — and what do they *wish* they could find?

Once you have identified a problem that a lot of people are trying to find solutions for, but without any luck — then you’ll know the problem that should be the focus of your salescopy and marketing efforts for that particular product.

And then — once your targeted marketing efforts are generating a steady stream of qualified traffic to that particular product page — it’s time to move on to your next affiliate product page, and focus IT on one specific problem.

I know it’s tempting to want to describe your health products as the ultimate cure-all for everything from skin problems to obesity, but people who are searching for skin care products aren’t searching for obesity products — and you simply can’t create an effective page that appeals to both.

Once again, online success is all about FOCUS. I cannot emphasize this enough! You’ll make FAR more money trying to sell to a small but highly targeted group of people than you can ever possibly hope to make selling to everyone and his dog.

So, Izak, I know I probably didn’t give you the answer you were expecting — but it’s the answer you needed to hear.

Good luck with your marketing efforts, and please stay in touch and let me know how you’re doing!

(something of interest that was sent to me)

Web Analytics-Personalisation

Friday, December 14th, 2007

Something of interest that I found…

How would you define what “online targeting” means today? How important is delivering personalized, relevant content to consumers? Do you know what’s working, and what’s not? Get the answers and a competitive advantage from Forrester’s Charlene Li and Offermatica’s Jonathan Mendez in the latest webinar from Marketing Experts on Demand series.

You’ll also review case studies of how leading online marketers are:

  • Segmenting, targeting, and defining audiences
  • Keeping personalization relevant
  • Respecting privacy concerns
  • Leveraging local, contextual, and social media
  • Discovering the use of source, affinity, and temporal targeting

Registration is free, watching is convenient