Top 10 Tips For Internet Marketing Business Success

Tip 1 - Identify Your Market

The commonest mistake in online marketing is to meticulously create a product, fall in love with it and then, at the very least, be disappointed when you find that no one wants to buy your wonderful product.

Don't make this mistake!

The first step, before creating or acquiring a product is to identify a market that is hungry for a product and then get a product and "give" i.e. sell it to them.

A bit of basic research will confirm or refute the existence of a potentially profitable market in any area of possible product development.

What do people do when they are thinking of buying a product? Right! They get information about it in order to make the best buying decision as to what is right for them. And how do they get that information? Well these days the net is overwhelmingly the commonest area that they turn to for their information needs. What they then do is type in to an internet search engine words relating to the product they are after and these are called the keywords. These are the vital link in product marketing research.

We need to find out what keywords they are using and even more importantly how many times per month these words are being searched for. This can be done in a local market or more commonly globally. That is a very powerful thing to be able to do from your very own desktop or laptop.

There are a number of tools to enable you to do this keyword research:

• Free tools

Google Keyword Tool

Free Keyword Tracker

Inventory.overture.com

Long Tail Adwords

 

• Paid for tools

Wordtracker

Keyword Discovery

 

• software program tools

Keyword Elite

 

With these tools you get to know the important numbers in keyword research and although opinions differ regarding what is a profitable market most people would agree that if there are less than 25,000 searches per month it is a small market that may not be worth getting into. If there is more than 150,000 searches per month it is a big market which will probably be very competitive and dominated by the larger players.

So a rough idea of what looks a promising market is the range 25,000 – 150,000 searches on a global scale per month.

If your area of interest is outside these boundaries all may still not be lost. By analysing the keyword variations used you can always either, drill down and sub niche into a more specialised area or extend a bit wider to get a bigger market as appropriate for your situation.

Things are now looking good you’re probably looking at a good market area to get into but wait.....

You’re not done there though! Even although these numbers may look good there is another factor that will have a strong influence on your success and that is the competition. Too little and you have to ask yourself “what is wrong with this market, is there no money to be made in it?” Too much competition and you are gonna have to work hard to succeed and could even……lose money! But this is a whole topic in itself so stay tuned and I will expand upon how to check out the competition in an upcoming tip.

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