If You Don"t Conduct Premarket Research You"re Courting Failure!
The most common, and perhaps most serious mistake you can make as a newbie online marketer, is to invest time and money in a particular market without conducting any initial research. This is such a common blunder and understandably so, because most online sales letters never bother to point out this little fact to you. Their job is to make you believe that you'll be rich by the end of the week without doing anything at all (practically); and those sales letters are really good at their job€¦they are written by professionals!
The other part of the equation that completes this sum is that it is in our nature as people to pursue the path of least resistance which simply means that most of us when given a choice of either:
A) Doing practically nothing and making lots of money; or
B) Putting in a lot of effort to make the same amount of money€¦
Will obviously choose point A above. There's only one problem with this approach though...unfortunately life doesn't work out that way, otherwise we'd all be millionaires doing nothing!
The 1st Deadly Marketing Sin: Not Researching Your Intended Market!
So what's the big deal really, if you don't do any prior research before choosing a market to pursue? Hmmm...let's see how about:
1. Is That Market Profitable? Do you know if your intended market is financially viable; in other words can you make a profit from whatever topic you intend to invest both your time and money in?
So how can you tell if a particular market is or isn't financially viable?
The easiest way to do that is to know how many people actively search for your intended market (topic) every month€¦or better yet everyday. The greater the number of people searching for the commonest and most-looked-up keyword about that particular industry (market) the better€¦it obviously means that people are interested!
However there is a very big BUT (no pun intended) or exception with respect to using this parameter of evaluating the number of people who look up a particular keyword as a guide to market viability...that BUT will become obvious in point 2 below;
2. What Is The Level Of Competition? If you are thinking of starting your online business by simply targeting any market based on the number of people searching regularly for that market's most common keywords...jam that foot on the brakes right now! Remember a moment ago I mentioned an exception or big BUT...well this is it! This approach has one serious flaw, which is, the more searches conducted daily for a particular keyword, the greater the competition (generally speaking).
However every now and then someone (if you're lucky one day it may well be you) stumbles on a niche market that has a large number of searches for its broadest and most commonly associated keyword and yet has little to no competition...such a find is worth its weight in gold!
The thing about diving into a very competitive market is that you are going to be the last person in a very very long line stretching into the hundreds of millions! This evidently means that you are starting from a point of extreme disadvantage. Translated into plain old English:
1. You simply are not equipped to out fox the competition because you don't know the tricks and secrets they do. So while they are raking in profits most of your time is going to be spent learning your way around the business. In other words most of your competitors are going to run circles around you for a very long time.
2. You are going to be competing with hundreds of millions of others for a limited number of eyeballs (prospective customers) Wanna take a guess who's got a better chance of luring those visitors to their website--you the newbie or...the savvy veteran marketer?
3. Getting web traffic is not only the lifeblood of any online business it is also the hardest aspect of online marketing. As a newbie marketer getting traffic these days is a living nightmare€¦let me explain:
The search engines led by the Grand Wizard of Search (Google) are fed up with the internet being literally littered with billions of websites of which the vast number don't offer any useful purpose or merely replicate the same data on millions of other like sites. Can you guess what solution they've come up with to discourage "valueless" copycat websites?
They've now made it almost impossible for any new website to get in the path of search engine traffic, most especially for those websites targeting already saturated and highly competitive markets! The search engines have set up a number of algorithms, scripts and keyword filters to control the painfully slow release of your new site into the realm of online search...which translates into no web traffic for you.
Of course there are ways around this very significant hurdle but only if you know such methods...of which chances are--as a newbie marketer--you don't!
In Summary: If you don't know how to, or simply just don't bother to conduct effective premarket research, you are setting yourself up to fail right from the start!
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The other part of the equation that completes this sum is that it is in our nature as people to pursue the path of least resistance which simply means that most of us when given a choice of either:
A) Doing practically nothing and making lots of money; or
B) Putting in a lot of effort to make the same amount of money€¦
Will obviously choose point A above. There's only one problem with this approach though...unfortunately life doesn't work out that way, otherwise we'd all be millionaires doing nothing!
The 1st Deadly Marketing Sin: Not Researching Your Intended Market!
So what's the big deal really, if you don't do any prior research before choosing a market to pursue? Hmmm...let's see how about:
1. Is That Market Profitable? Do you know if your intended market is financially viable; in other words can you make a profit from whatever topic you intend to invest both your time and money in?
So how can you tell if a particular market is or isn't financially viable?
The easiest way to do that is to know how many people actively search for your intended market (topic) every month€¦or better yet everyday. The greater the number of people searching for the commonest and most-looked-up keyword about that particular industry (market) the better€¦it obviously means that people are interested!
However there is a very big BUT (no pun intended) or exception with respect to using this parameter of evaluating the number of people who look up a particular keyword as a guide to market viability...that BUT will become obvious in point 2 below;
2. What Is The Level Of Competition? If you are thinking of starting your online business by simply targeting any market based on the number of people searching regularly for that market's most common keywords...jam that foot on the brakes right now! Remember a moment ago I mentioned an exception or big BUT...well this is it! This approach has one serious flaw, which is, the more searches conducted daily for a particular keyword, the greater the competition (generally speaking).
However every now and then someone (if you're lucky one day it may well be you) stumbles on a niche market that has a large number of searches for its broadest and most commonly associated keyword and yet has little to no competition...such a find is worth its weight in gold!
The thing about diving into a very competitive market is that you are going to be the last person in a very very long line stretching into the hundreds of millions! This evidently means that you are starting from a point of extreme disadvantage. Translated into plain old English:
1. You simply are not equipped to out fox the competition because you don't know the tricks and secrets they do. So while they are raking in profits most of your time is going to be spent learning your way around the business. In other words most of your competitors are going to run circles around you for a very long time.
2. You are going to be competing with hundreds of millions of others for a limited number of eyeballs (prospective customers) Wanna take a guess who's got a better chance of luring those visitors to their website--you the newbie or...the savvy veteran marketer?
3. Getting web traffic is not only the lifeblood of any online business it is also the hardest aspect of online marketing. As a newbie marketer getting traffic these days is a living nightmare€¦let me explain:
The search engines led by the Grand Wizard of Search (Google) are fed up with the internet being literally littered with billions of websites of which the vast number don't offer any useful purpose or merely replicate the same data on millions of other like sites. Can you guess what solution they've come up with to discourage "valueless" copycat websites?
They've now made it almost impossible for any new website to get in the path of search engine traffic, most especially for those websites targeting already saturated and highly competitive markets! The search engines have set up a number of algorithms, scripts and keyword filters to control the painfully slow release of your new site into the realm of online search...which translates into no web traffic for you.
Of course there are ways around this very significant hurdle but only if you know such methods...of which chances are--as a newbie marketer--you don't!
In Summary: If you don't know how to, or simply just don't bother to conduct effective premarket research, you are setting yourself up to fail right from the start!
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