It is a simple concept actually. Company “A” knows that there is a positive online newspaper article about them and they have also paid several blogers to write positive reviews about them or their product. Now they want people to actually see the articles. They pay a marketing company to get exposure.
The marketing company hires people to submit and vote for their client’s stories on social bookmarking sites, like Digg. People are willing to surf the net for pennies a site, there are people who will submit and vote for articles and blogs for money. It only takes 50 or so votes to make an article popular on Digg, so it is quite possible to manipulate the system to get articles popular. If you have a 100 people not connected in anyway submitting and voting on articles that they don’t have any connection to (i.e. don’t work for the company) then it would be hard to catch the manipulation.
The way it would work is that the marketing company would bulk email a list of clients stories URL’s a couple of times during the day. Each time an “employee” gets a list they start submitting the articles to Digg. If it has already been submitted they Digg it and move on to the next URL. Once a person has Dugg the list they email the marketing company that it has been completed. All the marketing company has to do is look at the persons recent Digg activity and they have proof the person did so. The “employee” could be paid 5 cents per Digg or Vote, 10 cents per story they submit and a $5.00 bonus for every article they submitted that goes popular.
It may not seem to be a lot, but if a person submits and votes for 50 stories in one day they would make at lest $2.50 for just voting. If they submitted 10 of the stores they would make at lest $3.00. Not much but if the 10 stories all became popular they would have made $53.00 just for a little bit of work. There are people who have the time and could use the money, even $2.50 with the possibility of $250.00 if they submitted all 50 stories and they became popular.
As people would be trying to be the first one to submit the story the order of submission and voting should be random again making it harder to catch. Also it you had a 1000 people willing to vote for money and you only gave each list to a 100 of them it would again make it harder to track or catch. This system would also motivate people to make stories popular, as they get a bonus out of it. This would be very cheep marketing. The cost to have a 100 people vote and make popular would be $10.05. So lets say the marketing company charges $25.00 per article, that would still be very cheep marketing for almost any company considering that when a story becomes popular on Digg it can receive 1000’s if not in the 10,000’s or more hits. This would be a winning situation for both company “A”, the marketing company and the people being paid to vote. Not so fare to anyone else though.
Please note that this is just a theory. I do not know of any one doing this, I just think that it is possible and would make people money. I used Digg as an example because it is one of the largest ones out there, but it could be done on any social bookmarking site. Would it be right, no but I think it would be an inexpensive marketing strategy that would appeal to many.
This blog is about my life, business, hobbies, crafts, arts. I tend to talk about what I am making, things I have found interesting, and whatever will help my and others online business.
Showing posts with label Internet marketing. Show all posts
Showing posts with label Internet marketing. Show all posts
Monday, September 22, 2008
Friday, August 29, 2008
Running an online retail store is harder then it looks
At first when you look at it it seems easy enough. But when you get right down to it there is a lot of work involved. When you get started you have to decide between building a site, renting a site or shopping cart by the month. Both require some time and work to find out what is best for you in the short term and long term. Once you have you decided and things are set up the real work starts.
Unless you have a limited product line there is going to be a lot of work put into getting product into your shopping cart. It is not just a matter of slapping a picture on and the products name and price. No each product is really a mini add and should be treated as such. What information you have in the description and title are what is going to be used by search engines to find your product. Then the description that shows up under your link is what people are going to use to decide to look at your product. The competition starts way before people see your product. You are competing with millions for each view. Please note that was view not buy. Just because you get someone to view your product does not mean they are going to buy from you.
The idea is to market your product online with a description and key words that will attract the people interested in your product. There is no point in using key words or descriptions that will bring lots of people to your site, but only a few of them are people interested in your product. You want to focus on your target market and attract them to your website or online store hoping that once they are there they will buy something. These means you have to think about what you put into the description and title of your products. What key words will your target market be using to find the product? Are they in your description or title? Once it come up in a search will your description stand out from all the others? Will it attract your target market to your site?
So now you put some time into reaching your target market and they click onto your product, what will get them to buy? There are a million and one other web site’s selling the same or similar items, why should they buy from you? What are they going to see first your product or home page? If they are searching for a product your link should open to the product. So how you have your shopping cart set up is going to give people their first impression of your company. How it looks is going to influence people to buy or not buy. Other things that will influence people to buy or not buy are your prices for the product, product image or picture, shipping costs, shipping options, return policies, where you are located, overall appearance of site; feed back from other customers, your home page, about us page and any other information you provide. How much information you provide or don’t provide will help people decide if they want to do business with you and not the other million sites.
At all points of contact with potential customers you need to be marketing your company, store and product. This is from the fist search people use to find you, to how easy it is to use the check out to buy and pay for your product and how the product was shipped. Even how the product was packaged can influence a repeat buy or not. Once you have a customer you need to do everything you can to keep them. Word of mouth is still the best marketing tool out there. Once you have a customer keep them happy and hope they tell everyone about you. But first you have to get that customer, and that is not always easy to do no matter how great your product, prices and company are. It is not just a matter of putting your product out and having it available to buy. You have to put a lot of time and some times money into marketing your product, store and company even after you start making sales. The marketing never ends because there are new online stores showing up and you have to compete with them and any local stores that can and will sell to your customers. In other words the work never ends if you want to keep brining in customers and making sales.
So if you are thinking about opening up an online store because it is easy money, think again. You only get out of it what you put into it. If you plan to put product out and sit back and wait for the sales to come in, save your money and find something else to do. There is no easy money to be found on the Internet anymore, it is a highly competitive market that is becoming more competitive everyday.
Unless you have a limited product line there is going to be a lot of work put into getting product into your shopping cart. It is not just a matter of slapping a picture on and the products name and price. No each product is really a mini add and should be treated as such. What information you have in the description and title are what is going to be used by search engines to find your product. Then the description that shows up under your link is what people are going to use to decide to look at your product. The competition starts way before people see your product. You are competing with millions for each view. Please note that was view not buy. Just because you get someone to view your product does not mean they are going to buy from you.
The idea is to market your product online with a description and key words that will attract the people interested in your product. There is no point in using key words or descriptions that will bring lots of people to your site, but only a few of them are people interested in your product. You want to focus on your target market and attract them to your website or online store hoping that once they are there they will buy something. These means you have to think about what you put into the description and title of your products. What key words will your target market be using to find the product? Are they in your description or title? Once it come up in a search will your description stand out from all the others? Will it attract your target market to your site?
So now you put some time into reaching your target market and they click onto your product, what will get them to buy? There are a million and one other web site’s selling the same or similar items, why should they buy from you? What are they going to see first your product or home page? If they are searching for a product your link should open to the product. So how you have your shopping cart set up is going to give people their first impression of your company. How it looks is going to influence people to buy or not buy. Other things that will influence people to buy or not buy are your prices for the product, product image or picture, shipping costs, shipping options, return policies, where you are located, overall appearance of site; feed back from other customers, your home page, about us page and any other information you provide. How much information you provide or don’t provide will help people decide if they want to do business with you and not the other million sites.
At all points of contact with potential customers you need to be marketing your company, store and product. This is from the fist search people use to find you, to how easy it is to use the check out to buy and pay for your product and how the product was shipped. Even how the product was packaged can influence a repeat buy or not. Once you have a customer you need to do everything you can to keep them. Word of mouth is still the best marketing tool out there. Once you have a customer keep them happy and hope they tell everyone about you. But first you have to get that customer, and that is not always easy to do no matter how great your product, prices and company are. It is not just a matter of putting your product out and having it available to buy. You have to put a lot of time and some times money into marketing your product, store and company even after you start making sales. The marketing never ends because there are new online stores showing up and you have to compete with them and any local stores that can and will sell to your customers. In other words the work never ends if you want to keep brining in customers and making sales.
So if you are thinking about opening up an online store because it is easy money, think again. You only get out of it what you put into it. If you plan to put product out and sit back and wait for the sales to come in, save your money and find something else to do. There is no easy money to be found on the Internet anymore, it is a highly competitive market that is becoming more competitive everyday.
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Tuesday, July 1, 2008
Gas prices are changing how we do business
The price of gas is changing how people buy. The higher the price of gas, the more expensive everything else is. This is reducing people’s disposable income dramatically. People are less likely to give into impulse buys; they want to feel they are getting great value for their money. They are less likely to buy something just because it is there and it catches their attention.
People are buying less luxury items, such as jewelry and purchasing necessities instead. Buying over the Internet is also down as the cost of shipping is up. Why buy something that has to be shipped when you can find a similar product at a local shopping mall and don’t have to pay for shipping. Just because an item seems to be a deal online does not mean it is once you include shipping and handling charges.
So how we market product has to change. You have to concentrate on the perceived value of the item, or that it is cheaper to buy from you then the local store even with shipping charges. Some places are even covering the cost of shipping. With fewer dollars available the competition for those dollars is becoming even more intense. I am quite sure that some small businesses and some big ones are not going to be able to survive for very long unless things change.
So the real question is how do we stay in business with a reduction in sales? For us it will be by cutting costs wherever we can. We are offering several different shipping options so people can get the one that fits their budget. We are reducing the amount of packaging that goes with products to reduce shipping cost. We are not purchasing any manufactured products for our inventory. Other then what we already had to put onto the website we are only adding our own handcrafted pieces to the website inventory. That is about all we can do. We don’t have staff to let go, other then ourselves. But until we make more sales we are not paying ourselves. It is going to be hard and our ability to stay in business will depend on how long this goes on for. We will be fine for at least a year. Hopefully things will be better by then.
People are buying less luxury items, such as jewelry and purchasing necessities instead. Buying over the Internet is also down as the cost of shipping is up. Why buy something that has to be shipped when you can find a similar product at a local shopping mall and don’t have to pay for shipping. Just because an item seems to be a deal online does not mean it is once you include shipping and handling charges.
So how we market product has to change. You have to concentrate on the perceived value of the item, or that it is cheaper to buy from you then the local store even with shipping charges. Some places are even covering the cost of shipping. With fewer dollars available the competition for those dollars is becoming even more intense. I am quite sure that some small businesses and some big ones are not going to be able to survive for very long unless things change.
So the real question is how do we stay in business with a reduction in sales? For us it will be by cutting costs wherever we can. We are offering several different shipping options so people can get the one that fits their budget. We are reducing the amount of packaging that goes with products to reduce shipping cost. We are not purchasing any manufactured products for our inventory. Other then what we already had to put onto the website we are only adding our own handcrafted pieces to the website inventory. That is about all we can do. We don’t have staff to let go, other then ourselves. But until we make more sales we are not paying ourselves. It is going to be hard and our ability to stay in business will depend on how long this goes on for. We will be fine for at least a year. Hopefully things will be better by then.
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Friday, May 9, 2008
Be smart when starting and running your own business
Over the years we have built up our business the hard way, mostly with luck, hard work and unexpected opportunities. The biggest thing we have realized is that you have to be constantly learning and changing. Just because something works or sells today does not mean it will tomorrow. It is a lot harder running your own business then being told what to do by a boss.
If you are your own boss then you need to be smart about it. Put the time into market and product research. Don’t assume that because you can sell something at place A that you can sell the same thing the same way at place B. We started selling to a very large hobby group, with a very focused market.
I started buying and selling used items to a medieval historical re-enactment hobby group. I was doing what everyone else was doing and that was working well for me. I made some money and had fun. Then I started talking to everyone, found out what they liked and were searching for; Market research. I made sure that is what I brought in; Meet the needs of the target market. I ended up having people giving me shopping lists and they would pick up the items from me at the next event we were both at. This was great, I was making money and people where getting what they wanted. I soon discovered that I could not always find what people were looking for as used items. I saved my money and then started buying from wholesalers and designing my own line of jewelry; Created a new way to better meet the target markets needs.
Suddenly it was a whole new ball game. I was the only local merchant selling new product; Created a market. My sales when out the roof, I had cornered the market. I re-invested the money into more stock and displays; Meeting ever changing needs and building a brand image. Sales increased and I started selling all over Ontario; Increasing my target market. After about two years other people started to copy me and eventually I started to loose some sales as the market was small; Recognized a change in the market. I expanded to a larger market, selling at craft fairs and then moved to large festivals all over Ontario; Changing my target market.
Again I had an unusual product as everything had a medieval theme to it. This helped make us stand out from other vendors; Creating an image branding my company. However we had to learn how to sell at festivals, it was much different from selling at smaller group events. Both my husband and I had to be there, selling and creating; Expanding the business to meet customers needs in a timely manner. Before I had an established market and because we had consistent contact with our customers we could take orders and almost guaranty sales at the next event. Suddenly we had to earn peoples willingness to part with their money to buy from us with out the established relationship I had with my other customers. We had to develop an entire different way to market our product and ourselves.
We were very fortunate in that we only sold at juried festivals, this limiting the number of competition and pretty much guaranteeing that no one else was selling exactly the same thing as us. We also had several different product lines and prices, that all fit the theme we were able to meet the demands of several different target markets at the same time. As one of the only theme vendors we stood out enough that people brought their friends just to look at our both, and usually buy something.
It was strange because what sold at one festival was not what sold at the next. We had to be able to quickly identify how to market our product and our company at each festival. This was usually accomplished with our displays and even what product we displayed front and center. It was learning experience every festival. Eventually we developed a brand image as we did the same festivals every year. Again though people saw what was working for us and suddenly we have competition starting to sell at the festivals. So we are no longer as unique and different as we used to be. Time to make some changes.
Just over a year and a half ago we opened a theme online store, http://www.medievalmagic.ca/, yet again expanding our target market. We have spent the time learning about selling online. It is a completely different beast then selling retail to impulse buyers or established customers. There is no end to the competition so you don’t market your product you have to market your site and build a brand image. It is a lot harder then it sounds unless you have a lot of cash to throw around.
We have taken what we have learned have made some drastic changes in our website this month. We changed the look, redesigned how our site works, whom we market to and how we market to them. We are even changing our product from mainly manufactured product and some of our handcrafted pieces to a 50/50 split. We will slowly move away from pieces we buy from a wholesaler to what we make. However the key is flexibility to change with market demands.
If you are your own boss then you need to be smart about it. Put the time into market and product research. Don’t assume that because you can sell something at place A that you can sell the same thing the same way at place B. We started selling to a very large hobby group, with a very focused market.
I started buying and selling used items to a medieval historical re-enactment hobby group. I was doing what everyone else was doing and that was working well for me. I made some money and had fun. Then I started talking to everyone, found out what they liked and were searching for; Market research. I made sure that is what I brought in; Meet the needs of the target market. I ended up having people giving me shopping lists and they would pick up the items from me at the next event we were both at. This was great, I was making money and people where getting what they wanted. I soon discovered that I could not always find what people were looking for as used items. I saved my money and then started buying from wholesalers and designing my own line of jewelry; Created a new way to better meet the target markets needs.
Suddenly it was a whole new ball game. I was the only local merchant selling new product; Created a market. My sales when out the roof, I had cornered the market. I re-invested the money into more stock and displays; Meeting ever changing needs and building a brand image. Sales increased and I started selling all over Ontario; Increasing my target market. After about two years other people started to copy me and eventually I started to loose some sales as the market was small; Recognized a change in the market. I expanded to a larger market, selling at craft fairs and then moved to large festivals all over Ontario; Changing my target market.
Again I had an unusual product as everything had a medieval theme to it. This helped make us stand out from other vendors; Creating an image branding my company. However we had to learn how to sell at festivals, it was much different from selling at smaller group events. Both my husband and I had to be there, selling and creating; Expanding the business to meet customers needs in a timely manner. Before I had an established market and because we had consistent contact with our customers we could take orders and almost guaranty sales at the next event. Suddenly we had to earn peoples willingness to part with their money to buy from us with out the established relationship I had with my other customers. We had to develop an entire different way to market our product and ourselves.
We were very fortunate in that we only sold at juried festivals, this limiting the number of competition and pretty much guaranteeing that no one else was selling exactly the same thing as us. We also had several different product lines and prices, that all fit the theme we were able to meet the demands of several different target markets at the same time. As one of the only theme vendors we stood out enough that people brought their friends just to look at our both, and usually buy something.
It was strange because what sold at one festival was not what sold at the next. We had to be able to quickly identify how to market our product and our company at each festival. This was usually accomplished with our displays and even what product we displayed front and center. It was learning experience every festival. Eventually we developed a brand image as we did the same festivals every year. Again though people saw what was working for us and suddenly we have competition starting to sell at the festivals. So we are no longer as unique and different as we used to be. Time to make some changes.
Just over a year and a half ago we opened a theme online store, http://www.medievalmagic.ca/, yet again expanding our target market. We have spent the time learning about selling online. It is a completely different beast then selling retail to impulse buyers or established customers. There is no end to the competition so you don’t market your product you have to market your site and build a brand image. It is a lot harder then it sounds unless you have a lot of cash to throw around.
We have taken what we have learned have made some drastic changes in our website this month. We changed the look, redesigned how our site works, whom we market to and how we market to them. We are even changing our product from mainly manufactured product and some of our handcrafted pieces to a 50/50 split. We will slowly move away from pieces we buy from a wholesaler to what we make. However the key is flexibility to change with market demands.
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Thursday, April 24, 2008
I went for a internet marketing conference, not a sales meeting
Today I spent almost three hours of what I consider my valuable time at what was supposed to be a conference on Internet marketing for retail websites. What I was actually at was a presentation focused on telling me I could make lots of money on the internet, but I need to use this companies store front that is included in their hosting package. Come on people, I could not believe what I was put through. The worst part was that if I wanted to get the actual course for marketing it was included in the package as part of a full day of how to be successful using their store front and hosting company, but I had to pay the one time fee of $25.00 right then and there (which is $199.00 any other time, don’t you know!)
They tried to pressure me by telling me that I must not being doing everything I need to do in marketing my web store Medieval Magic, because if I were I would be rolling in money and would not be there. Um, actually I was expecting to have spent my time learning about other methods of online marketing and had hoped to find some new ways or better ways. I am always looking for a way to positively market our product and web site. Only a fool thinks that they know everything and does not understand that there are new programs and methods developed all the time. I am not a fool and did not like being treated as one.
What I did find shocking is the number of people signing up and handing their $25 for their new website. They don’t even have an idea of what they want to sell or who their market is, but they have a web site. Next week they are going to this full day course on how to be successful with their stores. These are set up to hold them by the hand and show them what to do step by step, including giving them a list of drop shippers and some one-on-one time with someone who is going to help them do it all.
The basic idea is that they are getting an out of the box web site, a list of drop shippers and instructions on how to market the web site. As this wonderful company pointed out, if these people are not making money they will not keep their website up and they will not get their $24.99 a month. They want people to succeed. They also want people to have multiple web sites as diverse income streams. All good ideas, except I feel it has more to do with the $24.99 they get each month for each site you have. The more sites you have reaching out to different markets, or using different branding strategies the more money they make off of you.
I may or may not be going as a guest with one of the people who signed up. It depends on them right now. For me it is just to make sure they don’t get pulled into the, "oh by the way to be successful you need to add these add-on’s to the original shopping cart." The company has already indicated that you need $5,000 of add-ons but they are selling them for $3,000 but they are willing to give you a deal on the day of your training. The sad part is that up until I heard about the add-ons I was actually comparing their price and service favorably to other companies I did research on when we were looking for a new shopping cart. I don’t like any company that said here is a web site and hosting fee, oh but your going to need to buy all this other stuff to succeed. I don’t think they are going to have much to add to my online marketing strategies, or at least not ones I am willing to use. It will be interesting to see what they have to say if I end up going, but I would not be upset if I don’t go.
They tried to pressure me by telling me that I must not being doing everything I need to do in marketing my web store Medieval Magic, because if I were I would be rolling in money and would not be there. Um, actually I was expecting to have spent my time learning about other methods of online marketing and had hoped to find some new ways or better ways. I am always looking for a way to positively market our product and web site. Only a fool thinks that they know everything and does not understand that there are new programs and methods developed all the time. I am not a fool and did not like being treated as one.
What I did find shocking is the number of people signing up and handing their $25 for their new website. They don’t even have an idea of what they want to sell or who their market is, but they have a web site. Next week they are going to this full day course on how to be successful with their stores. These are set up to hold them by the hand and show them what to do step by step, including giving them a list of drop shippers and some one-on-one time with someone who is going to help them do it all.
The basic idea is that they are getting an out of the box web site, a list of drop shippers and instructions on how to market the web site. As this wonderful company pointed out, if these people are not making money they will not keep their website up and they will not get their $24.99 a month. They want people to succeed. They also want people to have multiple web sites as diverse income streams. All good ideas, except I feel it has more to do with the $24.99 they get each month for each site you have. The more sites you have reaching out to different markets, or using different branding strategies the more money they make off of you.
I may or may not be going as a guest with one of the people who signed up. It depends on them right now. For me it is just to make sure they don’t get pulled into the, "oh by the way to be successful you need to add these add-on’s to the original shopping cart." The company has already indicated that you need $5,000 of add-ons but they are selling them for $3,000 but they are willing to give you a deal on the day of your training. The sad part is that up until I heard about the add-ons I was actually comparing their price and service favorably to other companies I did research on when we were looking for a new shopping cart. I don’t like any company that said here is a web site and hosting fee, oh but your going to need to buy all this other stuff to succeed. I don’t think they are going to have much to add to my online marketing strategies, or at least not ones I am willing to use. It will be interesting to see what they have to say if I end up going, but I would not be upset if I don’t go.
Thursday, February 21, 2008
The value of human contact in branding and marketing
There is a lesson to be learned by examples set by some of the larger companies who have forgotten the value of human contact in branding and marketing. There is nothing like getting an automated system when you call a company verses getting a real person. I know of some companies that have lost a lot of customers, like me, this way. All you ever got was a machine you had to fight with it to get an answer or directed to the right department, then maybe you might get a real person. I am now dealing with a company that advertises that they have real people answering the phones. I know that a lot of companies have re-evaluated the cost savings of automated systems verses customer loss due to perceived poor customer service. Quit a few companies now advertise the fact that you reach real people when you call.
If you have a store and your customers spend more time looking for some one to help them then looking at products you have a problem. If the staff they find tells them it is not their department so they cannot help, you have a problem. Every thing people do or do not do when representing your company affects how people view your company. If some one gets poor service in a restaurant, they are not likely to go back. It’s the same in any area of business. Word of mouth is one of the strongest marketing tools out there; the people working for you have a direct influence on what is being said.
If you don’t have good people in contact with your customers you will not have a good relationship with those customers. This goes from the person who answers the phone, to taking orders, or resolving issues. If you are not going to take the time to help me I will take my business else where thank you. To day the customers control where they buy from, and if you don’t meet their needs and wants they will find some one else who will.
There are more companies out there succeeding because they know how important any and every contact with a customer or potential client is. People are willing to pay more when they get good service. People judge your company on how they perceive their treatment and the quality of your goods/product. I don’t care how good your product is, or what a great deal it is price wise if your employees treated me poorly.
The bottom line is customers want to feel valued. Having a person willing and able to help resolve problems effectively and efficiently makes some one feel more valued then having to fight with a phone system, or search on a web site for answers or dealing with an unhelpful person. Every person who works for a company represents that company when dealing with others, they are branding your company no matter how much marketing you do.
If you have a store and your customers spend more time looking for some one to help them then looking at products you have a problem. If the staff they find tells them it is not their department so they cannot help, you have a problem. Every thing people do or do not do when representing your company affects how people view your company. If some one gets poor service in a restaurant, they are not likely to go back. It’s the same in any area of business. Word of mouth is one of the strongest marketing tools out there; the people working for you have a direct influence on what is being said.
If you don’t have good people in contact with your customers you will not have a good relationship with those customers. This goes from the person who answers the phone, to taking orders, or resolving issues. If you are not going to take the time to help me I will take my business else where thank you. To day the customers control where they buy from, and if you don’t meet their needs and wants they will find some one else who will.
There are more companies out there succeeding because they know how important any and every contact with a customer or potential client is. People are willing to pay more when they get good service. People judge your company on how they perceive their treatment and the quality of your goods/product. I don’t care how good your product is, or what a great deal it is price wise if your employees treated me poorly.
The bottom line is customers want to feel valued. Having a person willing and able to help resolve problems effectively and efficiently makes some one feel more valued then having to fight with a phone system, or search on a web site for answers or dealing with an unhelpful person. Every person who works for a company represents that company when dealing with others, they are branding your company no matter how much marketing you do.
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Sunday, January 20, 2008
How firing your customers can lead to bigger revenue
Restricting yourself to concentrating on one market segment can be loosing you money. This is especially true if you are completely missing a larger market or multiple markets. If you are not flexible enough to change with the market or see other markets your company will not grow. So sometimes firing your customers can lead to bigger revenue by opening up more or larger markets. Companies need to evolve to meet new markets needs, concentrating on the old market can prevent you from making necessary changes for your company to grow or survive. Firing some customers can also let you focus on or finding clients you have a better profit ratio with.
For years I concentrated on one market, and I did very well. I was marketing to a specific historical re-enactment hobbyists group. It was a great fit; I had found my niche in the market place. Then I realized that there was a much larger market for my product. There are a lot of other re-enactment groups and live role-play gamers to market too, so my target market grew. Then medieval and fantasy became big in the general public over the last few years with all the epic movies that came out. Now there is a resurgence of the vampire and werewolf theme with all the movies and TV shows coming out. So my market is growing and changing. I have to be flexible to change with it. I thought I was doing this.
Then I realized that I had been restricting my self to still meet the historically accurate standards set by my original target market. Some of the customers in my expanded market place would be interested in those products but I was not taking advantage of the full potential of that market. Most of that market likes the look but don’t care about historically documentation. So I had to re-evaluate who I was marketing to, what was my real customer base. I found that my old market was not willing to pay the same prices that other markets are, so I was no longer limited to a specific price range. My old market I had a limited product, slower sales and a saturated market. It was no longer cost effective to continue catering to that market. Firing my original customers opened the doorway for me to change and increase my product line. Meeting the needs of the larger market resulting in an increased profit margin.
I had also been concentrating on selling at local festivals, events and stores. I did not recognize the international interest that is out there. So again I had to re-evaluate to where I was selling, and what methods I was using to sell. I have not stopped selling locally but I have expanded the market by opening a store on line. However, these are two different markets needing completely different marketing strategies. These days I do not limit myself to just the market I perceive to be there. I am actively searching for multiple markets, and the methods to target them.
My business is retail so I do not have to deal with slow payers or no payers. These are the other customers that it pays for you to fire. Why keep clients that are reluctant to pay for product or services once they have them when you can concentrate on ones that do pay. Every business has to change and grow as the customer base evolves with new trends, needs, technology and competition always finding new ways to take our customers.
For years I concentrated on one market, and I did very well. I was marketing to a specific historical re-enactment hobbyists group. It was a great fit; I had found my niche in the market place. Then I realized that there was a much larger market for my product. There are a lot of other re-enactment groups and live role-play gamers to market too, so my target market grew. Then medieval and fantasy became big in the general public over the last few years with all the epic movies that came out. Now there is a resurgence of the vampire and werewolf theme with all the movies and TV shows coming out. So my market is growing and changing. I have to be flexible to change with it. I thought I was doing this.
Then I realized that I had been restricting my self to still meet the historically accurate standards set by my original target market. Some of the customers in my expanded market place would be interested in those products but I was not taking advantage of the full potential of that market. Most of that market likes the look but don’t care about historically documentation. So I had to re-evaluate who I was marketing to, what was my real customer base. I found that my old market was not willing to pay the same prices that other markets are, so I was no longer limited to a specific price range. My old market I had a limited product, slower sales and a saturated market. It was no longer cost effective to continue catering to that market. Firing my original customers opened the doorway for me to change and increase my product line. Meeting the needs of the larger market resulting in an increased profit margin.
I had also been concentrating on selling at local festivals, events and stores. I did not recognize the international interest that is out there. So again I had to re-evaluate to where I was selling, and what methods I was using to sell. I have not stopped selling locally but I have expanded the market by opening a store on line. However, these are two different markets needing completely different marketing strategies. These days I do not limit myself to just the market I perceive to be there. I am actively searching for multiple markets, and the methods to target them.
My business is retail so I do not have to deal with slow payers or no payers. These are the other customers that it pays for you to fire. Why keep clients that are reluctant to pay for product or services once they have them when you can concentrate on ones that do pay. Every business has to change and grow as the customer base evolves with new trends, needs, technology and competition always finding new ways to take our customers.
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Friday, January 4, 2008
Benefits and risks or running an online business
So you see all these work at home, start your own online business ads. You think, "Hey there must be some thing to this. I would like to stay at home and make lots of money just like all these ads say I can." Before you leap you need to find out what are the benefits and risks of running an online business.
There are a lot of benefits for running an online business.
You are your own boss. This way you control what you do, how you do it, and when. So if you are a stay at home parent, you can work around your kids. If this is a second source of income, then you can work around your regular job. I like being able to spend time with my kids and work when they are asleep.
There are a lot of different types of online businesses you can get into. It is easy to diversify by having several different online businesses at the same time. It is quite possible to have multiple streams of income with the same business.
The potential income is often only limited by the time and money you choose to invest. Once you have your online business set up most of your time and money is going to be spent on getting people to find your site, also known as online marketing. This will be done through a high rank on search engines, links, ads, word of mouth and any other way you can think of. How well you did your work setting up your site will determine if they buy from you, or sign up or click what every ad system your using. When your site is successful you may be busy shipping, restocking and putting new product on the site. However, no matter what you will always need to invest in bringing new, and old customers back to your site. You never stop your online marketing.
There are online businesses that are almost self-sustaining with only a little work or money from you. You set up the site, maintain it, and keep it online, and away you go. A lot of this type of business is in partnership with drop-shippers, some who will even set up the site and maintain it for you. There are always already established online businesses up for sale. You just have to get people to go to it. The real work of anyone with an online business is getting people to come to their site.
There are a lot of risks to running an online business.
Getting scammed is a big risk for those who do not do their research or go for the get rich quick schemes. There are a lot of online businesses out there that only make the seller rich.
Not cost effective. You invest your money and time and make a little money but nothing like you expect. The competition online is great. It is not like you are the only supplier of product "widget" in a small town. Your competition can already be well-established selling "Widgets", "Wedgets" and any other type of "ets". It’s an uphill battle getting people to find you and then buy from you instead of company ABC or XYZ. You could have the greatest product, best price and service but if people don’t know you are out there, they are not going to be looking for you. How much do you have to spend in time and money to become established and get the sales you need to break even? Is it cost effective in the long run, or throwing good money after bad. You can be doing every thing right and still not succeed.
It always cost more then expected, in money and time. You may find yourself spending all your time on click exchanges trying to build up hits in the hopes of making some money.
Your email and web site becomes a prime target for spammers. You end up with 100’s of spam emails a day if not more. Most of them seem to want to sell you an online business or get you to pay them to do online marketing for you.
Having to spend lots of money to keep your computer system upto speed with the needs of the anti virus programs. The anti virus programs out there are not going to be compatible with older systems soon. Can you afford to upgrade your computer system to the newest technology so your system can support the newest anti virus programs? Can you leave your computer system vulnerable with out the most up to date anti virus programs?
I have an online business; it is an extension of our already existing business. Online businesses are completely different then off line businesses. I like what I do, but it has been hard and I had to learn a lot, and am still learning. We have a retail site and we don’t use drop-shippers so we have been able to avoid a lot of the pitfalls of running a retail site. But the amount of established competition can be very daunting at times. And new sites show up every day. I some times have to question our expectations for our web site and the time lines we have set for it to be cost effective. I think it is going to take more time and money then we first thought simply because marketing online is very different then marketing offline. An online business can be great and successful, but only if you go into with your eyes open. As with any and all business ventures do your research.
There are a lot of benefits for running an online business.
You are your own boss. This way you control what you do, how you do it, and when. So if you are a stay at home parent, you can work around your kids. If this is a second source of income, then you can work around your regular job. I like being able to spend time with my kids and work when they are asleep.
There are a lot of different types of online businesses you can get into. It is easy to diversify by having several different online businesses at the same time. It is quite possible to have multiple streams of income with the same business.
The potential income is often only limited by the time and money you choose to invest. Once you have your online business set up most of your time and money is going to be spent on getting people to find your site, also known as online marketing. This will be done through a high rank on search engines, links, ads, word of mouth and any other way you can think of. How well you did your work setting up your site will determine if they buy from you, or sign up or click what every ad system your using. When your site is successful you may be busy shipping, restocking and putting new product on the site. However, no matter what you will always need to invest in bringing new, and old customers back to your site. You never stop your online marketing.
There are online businesses that are almost self-sustaining with only a little work or money from you. You set up the site, maintain it, and keep it online, and away you go. A lot of this type of business is in partnership with drop-shippers, some who will even set up the site and maintain it for you. There are always already established online businesses up for sale. You just have to get people to go to it. The real work of anyone with an online business is getting people to come to their site.
There are a lot of risks to running an online business.
Getting scammed is a big risk for those who do not do their research or go for the get rich quick schemes. There are a lot of online businesses out there that only make the seller rich.
Not cost effective. You invest your money and time and make a little money but nothing like you expect. The competition online is great. It is not like you are the only supplier of product "widget" in a small town. Your competition can already be well-established selling "Widgets", "Wedgets" and any other type of "ets". It’s an uphill battle getting people to find you and then buy from you instead of company ABC or XYZ. You could have the greatest product, best price and service but if people don’t know you are out there, they are not going to be looking for you. How much do you have to spend in time and money to become established and get the sales you need to break even? Is it cost effective in the long run, or throwing good money after bad. You can be doing every thing right and still not succeed.
It always cost more then expected, in money and time. You may find yourself spending all your time on click exchanges trying to build up hits in the hopes of making some money.
Your email and web site becomes a prime target for spammers. You end up with 100’s of spam emails a day if not more. Most of them seem to want to sell you an online business or get you to pay them to do online marketing for you.
Having to spend lots of money to keep your computer system upto speed with the needs of the anti virus programs. The anti virus programs out there are not going to be compatible with older systems soon. Can you afford to upgrade your computer system to the newest technology so your system can support the newest anti virus programs? Can you leave your computer system vulnerable with out the most up to date anti virus programs?
I have an online business; it is an extension of our already existing business. Online businesses are completely different then off line businesses. I like what I do, but it has been hard and I had to learn a lot, and am still learning. We have a retail site and we don’t use drop-shippers so we have been able to avoid a lot of the pitfalls of running a retail site. But the amount of established competition can be very daunting at times. And new sites show up every day. I some times have to question our expectations for our web site and the time lines we have set for it to be cost effective. I think it is going to take more time and money then we first thought simply because marketing online is very different then marketing offline. An online business can be great and successful, but only if you go into with your eyes open. As with any and all business ventures do your research.
Labels:
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business,
computer,
Internet,
Internet marketing,
marketing,
online,
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Friday, December 21, 2007
Why static landing pages are good for Internet marketing
A landing page is an html page that you use as an ad for web sites you are promoting. You can think of it as a one-page web site that you use to direct people to other sites. You can focus on marketing this page instead of trying to promote several web sites. The page promotes the web sites for you. It does not matter if the page is marketing retail web sites that you own or are an affiliate of, or ads. The idea is to use the landing page to get more search engine traffic.
A landing page also helps target for specific products. If a web site has many diverse products it is very difficult to use key words and phrases on the home page for all the products. You use landing pages to optimize key words and phrases for just one product or category of products with direct links to the products on the web site. This way when someone uses a search engine to look for a product you have a better chance of being found with the targeted landing page, then with the more general home page.
This is also a great way to capture a hidden market; people misspell words when using search engines. You make a landing page that uses common misspellings of key words and phrases. Your competitors may not be marketing to incorrectly spelled words so they are not showing up on the search engine, but you are. It is useful if you make the landing page to look the same as your home page but with the misspelled words, and then link it to your web site. This way people don’t notice that they did not open your web site in the first place.
Another reason to use static landing pages is because they can be used for both Adwords and Overture. As of January 12th, 2005 Google lets one affiliate advertise one product per domain. This makes it hard to promote affiliate products. When using landing pages you don’t need to put “affiliate” in your ad, you meet the requirements of Adwords and Overture.
Before making a landing page you need to know what type to make, reference or transactional. A reference landing page provides information that is of interest to a visitor. The information can be text, images, a selection of links, or any combination. The information is used to bring people to the page and needs to tie into the ads so the ads are relevant. You can write an article on the history of Celtic designs and the meanings of them with pictures. Maybe have a short video on the page. Then have ads for Celtic jewelry sites, trips to Ireland, Family history research company, books on Celtic designs and more. You use the right key words on the page so a person interested in Celtic designs or Celtic history finds your page. Now they see your ads and are more likely to click on them because every thing has been targeted to them.
The other landing page is transactional. The goal is the sale of a product or service, or capturing information such as email addresses. Again you have some type of write up that is designed to use key words to get visitors. Once some one is on the page you want them to buy some thing. You have an actual ad that they can buy the product directly. If you are an affiliate of a retail site you sell their product on your page or have an affiliate link so people can buy the product on their site. You are interested in the sale, not a click through. If you are trying to get some ones email address you are still getting them to buy into whatever idea or offer you are promoting, but to get the “product” they have to fill in a form. Reports on how to be successful or make money online are usually the type of product being promoted. The pay off here is the email address, name or phone number that can be used as a lead.
Not every one knows how to make landing pages. If you are like most of us and do not know how to make a landing page then you want to look at the many different programs available to create landing pages. I am lucky, my husband has learned HTML just so he can create our landing pages. He has indicated that it is not as hard as he thought it would be, but that he is looking forward to when we can get a program that is "what you see is what you get" that does the coding for you. You just put what you want, be it text, pictures, or ads where you want it and your done.
Written by: Lori-Lee Craig
Medieval Magic
http://www.medievalmagic.ca/
A landing page also helps target for specific products. If a web site has many diverse products it is very difficult to use key words and phrases on the home page for all the products. You use landing pages to optimize key words and phrases for just one product or category of products with direct links to the products on the web site. This way when someone uses a search engine to look for a product you have a better chance of being found with the targeted landing page, then with the more general home page.
This is also a great way to capture a hidden market; people misspell words when using search engines. You make a landing page that uses common misspellings of key words and phrases. Your competitors may not be marketing to incorrectly spelled words so they are not showing up on the search engine, but you are. It is useful if you make the landing page to look the same as your home page but with the misspelled words, and then link it to your web site. This way people don’t notice that they did not open your web site in the first place.
Another reason to use static landing pages is because they can be used for both Adwords and Overture. As of January 12th, 2005 Google lets one affiliate advertise one product per domain. This makes it hard to promote affiliate products. When using landing pages you don’t need to put “affiliate” in your ad, you meet the requirements of Adwords and Overture.
Before making a landing page you need to know what type to make, reference or transactional. A reference landing page provides information that is of interest to a visitor. The information can be text, images, a selection of links, or any combination. The information is used to bring people to the page and needs to tie into the ads so the ads are relevant. You can write an article on the history of Celtic designs and the meanings of them with pictures. Maybe have a short video on the page. Then have ads for Celtic jewelry sites, trips to Ireland, Family history research company, books on Celtic designs and more. You use the right key words on the page so a person interested in Celtic designs or Celtic history finds your page. Now they see your ads and are more likely to click on them because every thing has been targeted to them.
The other landing page is transactional. The goal is the sale of a product or service, or capturing information such as email addresses. Again you have some type of write up that is designed to use key words to get visitors. Once some one is on the page you want them to buy some thing. You have an actual ad that they can buy the product directly. If you are an affiliate of a retail site you sell their product on your page or have an affiliate link so people can buy the product on their site. You are interested in the sale, not a click through. If you are trying to get some ones email address you are still getting them to buy into whatever idea or offer you are promoting, but to get the “product” they have to fill in a form. Reports on how to be successful or make money online are usually the type of product being promoted. The pay off here is the email address, name or phone number that can be used as a lead.
Not every one knows how to make landing pages. If you are like most of us and do not know how to make a landing page then you want to look at the many different programs available to create landing pages. I am lucky, my husband has learned HTML just so he can create our landing pages. He has indicated that it is not as hard as he thought it would be, but that he is looking forward to when we can get a program that is "what you see is what you get" that does the coding for you. You just put what you want, be it text, pictures, or ads where you want it and your done.
Written by: Lori-Lee Craig
Medieval Magic
http://www.medievalmagic.ca/
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