When it comes to building your online business, you have to really think about who you are going to market to, this will be your target market. If you can drill this down you will find success.
Target Marketing is fishing in the right pond and using the right bait! Imagine who would the perfect person be that you would pick to work with.
If you are trying to market to everyone, you are actually marketing to No One! You must start out with your market research, this will be the foundation, if you don't know who your targeting you are sure to fail.
Locating Your Target Market
- Who are your competitors?
- What can your product or service do for your ideal prospect?
- What do they want?
- What age are they?
- Are they male or female?
- What are their problems?
- What does you ideal prospect think about?
- What are people buying in your niche?
- What are their dreams or desires?
Now take the above answers and make sub categories below each.
Use Google For Market Research
I suggest using Google to help you along in your search for your target market. Put your niche topic into the search bar. You can put in Google keyword tool and this will take you to a site where you can get many more relevant keywords for your niche.
Now you will come to a page where you are going to start your marketing research, first note the amount of searches, this will be next to the word search. Now look around, usually the top searches are paid as well as the ones along the side of the page. Pick out the top 5 sites, you will want to check them out to see what they are doing. What do their ads look like? What are they selling? You could even go a step further and put their domain name into Alexa. I love this tool, Yep, It is free! You can see how much traffic they are getting and even get a peak at their keywords.
Now go and check out the organic searches, these will be everything else on the page. Do the same thing. It is very important to document all of this information, because you are going to come back here and do this again and again. You always want to keep an eye on your competition. This just may lead you to your first JV Partnership, so make sure you keep an eye on what they are doing and do it better.
Join Forums For Market Research
Once again go to Google and put in your niche, but this time put forum after the word. You want to find an active forum and then join. This will be a valuable resource, not only will you be able to see what everyone is talking about you get to see what your competitor's are up to. Take note of all conversations going on, what problems are they having? What products they like, dislike? Did I mention you get free advertising! Yep, your link is allowed with each comment (make sure you set this up before commenting).
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