Four Main Parts To Internet Marketing
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Well it’s official. The Thirty Day Challenge has kicked off and Ed has started with four basic components of Internet marketing.
Today’s tasks included watching a video, listening to a podcast, getting caught up on the any pre-season content that we may have missed and brainstorming niche ideas.
Market research - believe it or not, this is where most people fail. Many newbies coming online and many seasoned marketers simply do not do their research. They fall in love with a product or service and think that just because they like it that it will be a hit.
In the past I have been guilty of this myself, especially in my first days online. I simply fell in love with something and thought that it was going to be a big hit. Well, nine times out of ten this was not the case. There is no excuse in todays world to take risks. There are simply too many free resources available to be throwing darts.
Traffic - This is really easy to understand. The life blood of any business. Whether it be in an online business or a offline brick and mortar business - without customers there is no business.
Conversion - in online advertising it is the percentage of visitors who take a desired action (e.g. make a purchase or click an ad). Wikipedia defines the conversion rate as “… the percentage of unique visitors who take a desired action upon visiting the website. The desired action may be submitting a sales lead, making a purchase, viewing a key page of the site, downloading a whitepaper, or some other measurable action.”
Product - Whether it be your own product or selling someone else’s product or service. In marketing, a product is anything that can be offered to a market that might satisfy a want or need. However it is much more than just a physical object. It is the complete bundle of benefits or satisfactions that buyers perceive they will obtain if they purchase the product. It is the sum of all physical, psychological, symbolic, and service attributes.
As one of my team members mentioned in a post on his blog - “I have waited too long to get into the video age. A few months ago I would have preferred to read instead of watch a video. I am starting to lean towards video now.” I too echo his sentiment. In the past year, really just six months, video and audio appears to deliver a more personal message than just a simple ebook. I think it is time to find a firewire for my camera.
Brainstorming - Nothing gets the thinking cap on and the creative juices going like sitting down and starting to identify your niche. What is a niche? I found a simple definition - a position particularly well suited to the person who occupies it; “he found his niche in the academic world”.
My SIMPLE notes should come in handy.
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