As usual, most things turn out to be common sense or very obvious to the Internet Marketer with experience. To some folks, especially new marketers, it’s not so easy to follow the logic which is there all the time.
Let’s take a moment to review the obvious… our priority is to have customers/clients willing to spend money with us. An ONline or OFFline business has the same challenge, buyers are needed to make profits.
1. Profitable Niche – how do you discover a profitable niche? Common sense tells us that you look around the marketplace and search the Internet to discover where people are spending money. Places where you might find new brides; husbands to be; 18 to 25 age group; deer hunters; bass fishermen; serious golfers; motorcycle enthusiasts; etc.
Some profitable niches are far too competitive for the small business person to compete. BIG companies with highly trained staff, the experienced Internet Marketers are usually deeply entrenched within the most popular niches.
Search tools are readily available to seek out niches where you can find a quality product that people are buying and the competition is fair game for you.
2. Build a LIST – your own email list [customers/prospects] is usually the KEY to long term profits once you have built a list of people that LIKE – BELIEVE – TRUST you. Most Internet Marketers give away a gift as an inducement for people to give their name and email address on a “squeeze page” with a sign up form, agreeing to future messages by email.
3. Market related products to YOUR list… your ultimate goal is to build your own list of “like minded” or “enthusiastic” people who are focused on a similar hobby, desire or obsession, where most of them spend money long-term.
To better understand the logic of our list building goal, look at your own family and their buying decisions. Look at your church friends, country club members, the Rotary club or wherever YOU spend your money and time.
Think about where people spend money with abandon, carefree, buy without much concern about the cost. $300 golf club? $200 tennis outfit? Buy a new motorcycle, $20,000+/-? Accessories for a classic car? Horse Shows? Dog Shows? There are hundreds of groups, clubs, of “like minded” people.
Home based business trainers, consultants, coaching is a huge niche where many Internet Marketers are very successful. Price points rise based on success and expertise, even with a small list.
[sidebar: $500 fee x 1,000 buyers, owners, coaching clients is BIG money for an Internet Marketing coach… more than the CEO’s salary of most corporations]
You don’t necessarily have to have a huge list to make a substantial income for yourself as an Internet Marketer. It does take some talent to make top dollar and that’s where 97% of most start up businesses fail per statistical data.
It’s easy enough to give you 1,2,3 steps but truth and experience tells us that things are never that simple or easy for any of us. It does take time, effort and learning through trial and error for most Internet Marketers.