Assume I have an online store selling a niche product line. Let's say I am selling tools for building things around your home for the purpose of this article. My site is doing pretty well. I may be using pay-per-click or seo to generate business and sales, but the specific method doesn't really matter.
While my site is doing well, I have one problem. My sales are somewhat limited because there are only so many tools that people can buy. I need to expand the site with other product lines. How do I go about doing this? Many sites get it completely wrong.
At this point, most businesses go in a couple directions to develop new business lines. First, they just sit around and brainstorm ideas and come up with product lines they think would be good. This is known as the fantasy approach. The second method is to take note of the fact a couple customers have asked if the site will carry a certain product or product line. This is known as the extrapolation theory, to wit, if one or two people asked for it, there must be a huge demand. Both of these approaches tend to fall on their face unless a key step is taken.
When attempting to identify a new product line for your site, you must do keyword research. The web makes life easy for businesses because the needs of your customers are so readily apparent. All you have to do is use your favorite research tool to see if there is demand for a product. If there is, then go ahead and add the line. If not, move on to a new idea. Let's look at an example.
Going back to my tool site, I need a new product line. I read client emails and brainstorm ideas. How about adding bathroom fixtures to the site? Remodeling bathrooms is a popular home improvement project so surely people would be interested in buying fixtures. Is this correct? There is only one way to find out ? research it!
I am going to use Wordtracker for the purposes of this article. I run ?fixtures? through it and find there are about 2,000 total searches a day for the total bathroom fixture keyword list. In short, there appears to be enough interest to add this as a product line to my site. Now I can do so confident that people will buy. To show how it works the opposite way, let's look at another example.
Instead of bathroom fixtures, let's assume I want to add a line of wooden toilet seats for some strange reason. Hey, it is an example! Before I go through the time and cost of adding the pages to the site and buying inventory, I do my research. Using Wordtracker again, I find there are only 10 searches a day for wooden toilet seats. Do I want to add this product line? Problably not. There isn't much demand online. I would be far better off going with the bathroom fixtures.
Although these examples have pretty obvious findings, you should use the same technique with your online business. Taking this approach lets you pick the products people are interested in while avoiding those lines that are not going to help your bottom line.
New Online Business Opportunity
In this article we will list the usual mistakes committed by new entrants into the online business marketplace hoping that we will be able to help them avoid such mistakes from the very beginning.
Mistake No. 1: New entrants, or as the market calls them "newbies," usually start with excessive energy and the first thing they do is to search for online opportunities. This is the first huge mistake.
Mistake No. 2: A huge percentage of the opportunities that will come out of the search conducted in Mistake No. 1 are affiliate opportunities. A newbie would become more excited here after reading the hyped up sales letters that he/she is getting. Eventually the newbie will do the inevitable and take out the credit card to join one of those opportunities that promise income in no time. Even if the idea was legit and in many cases it will be, the prospect still does not know anything about online business, let alone affiliate marketing.
Mistake No. 3: After few days the newbie will discover that the opportunity that he/she joined is not making any money, so now its time to quit and search for something else. The newbie does not know that the problem is not really in the affiliate opportunity. Actually the newbie most probably still does not know that he/she is involved in affiliate marketing. After few trials with different affiliate opportunities the newbie realizes that this online business thing is crap and waste of time and money.
The above three mistakes can very easily be joined into one. The huge mistake that is conducted here is getting into online business head first without knowing anything about it.
The first step in anything in life is learning. Before thinking of establishing an online business, a newbie needs to know the following:
1-What is online business and its different models?
2-What is online marketing and how does it differ from one model to another?
3-What are the different tools of online marketing?
These three questions are not easy to answer and online gurus have written a lost of e-books and articles trying to answer one or more of those questions. A newbie needs to search and read as much as possible about the above three issues so that he/she can create a personal opinion and then a decision.
The main resources a newbie should concentrate on to gather such information are the free Resources. Don't go on buying e-books at the beginning, there is a lot of free information on the net. After you have exhausted this aspect you will have better knowledge to be able to decide which material to buy and which to avoid.
What are those free resources?:
1-Articles Directories
2-Blogs
3-Forums
After getting the appropriate knowledge a newbie is able to do take the following decisions consciously:
1-Which online business model he/she going to adopt.
2-Which marketing strategy and tools he/she is going to use.
This means if the newbie is going to search for affiliate opportunities, he/she is going to do it consciously knowing exactly what to look for.
In this article we have followed the steps approach, which means get the knowledge first and then have the business. We admit that there is another approach which is learning by doing. This means getting involved in a business and then applying what you learn to that business. This is a good approach only if you know which online business model you want to adopt.
Affiliate opportunities have started creating training resources and courses to enable their affiliates do a better job marketing their products and services.
The problem that I find here is that only a few affiliate opportunities have constructed a structured training that would train affiliates with zero background on the ins and outs of affiliate marketing. The majority have opted on collecting e-books and other resources and put them in one place for their members to read.
Both Halstatt Pires & Rami Doleh are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Halstatt Pires has sinced written about articles on various topics from Realestate Marketing, History and Ezines And Newsletters. Halstatt Pires is with MarketingTitan.com - a provider.. Halstatt Pires's top article generates over 368000 views. to your Favourites.
Rami Doleh has sinced written about articles on various topics from Cure Anxiety, Advertising Guide and Culture and Society. Rami Doleh has dedicated all available resources to put people on the right track and help them establish their affiliate business. For More Information and to find how to contact Rami for any questions visit. Rami Doleh's top article generates over 110000 views. to your Favourites.
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