Competition Analysis; Find Your Comepetition

Competition Analysis

Competition Analysis; Find Out What “They” Are Doing  (Part 3 of a 3 part post)

 

Recap for Post #2

  • If your online business is NOT built upon a strong foundation; in a market with a sufficient demand and relatively low competition, your idea may crumble or will be too costly to test.
  • Initial online market research can be conducted using the Google keyword tool; Brainstorm interests and write down variations of key terms people might type into Google in relation to those interests, repeat until you find a viable niche market.


The next step is taking a look at your potential competition and then determining what direction you want to take with your website. Continue Reading

Niche Marketing; Market Research Exercise

Niche-Market

(Part 2 of a 3 part post) on Niche Marketing

To re-cap from Post #1:

  • Ensure that you think about providing a solution  as oppose to providing a product. The reasons are: #1 why spend time on product development when you have no idea if there’s an existing market for it. #2 If your website is designed to solve a problem and be a source of information you will always win in the long run. If you have no product yet, generate traffic by getting ranked in search engines for low competition keywords and build that way.
  • An online niche market is a group of people or keyword groups with a healthy monthly search volume in relation to the amount of competition (PPC and Organic Rankings). The idea is to quickly test a market (group of keywords) at a relatively low cost
  • Think of business ideas based around passions, experiences, or genuinely interested in learning about. This will ensure you have enough of the juices to follow through with the idea. For example; You will have to produce some sort of content for your market. (Eg. writing about something you care nothing about…is boring and it sucks)
Niche Marketing

Now let’s find us a juicy niche market using the Google Keyword Tool, a blank slate and an open mind.

 

When I was a niche marketing mentor a few years back, I used to give students a fun exercise. Here’s what we did:

 

  • write down interests on cards.
  • re arrange the cards ranked by level of interest
  • think of and write down as many terms people might type in Google that is related to your interests
  • plug those simple search terms into the google keyword tool in different variations (focusing on 1 area of interest at a time, this may take a few hours)
  • After looking at the results  choose about 3 areas of interests that had a group of quality keywords with at least 1000 combined EXACT global monthly searches (note; volume isn’t everything)

Let’s use Golf as an example of an interest

 

Keywords: [buy golf clubs], [golf accessories], [golf tips], [putting tips], [how to improve my drive], [golf memberships], [golf coach].  These keywords have some sort of “intent” and they are in different niches and sub-niches.

 

Note: you may discover (by accident) markets you would have never thought of, this can lead to awesome un-tapped niches.

 

Stay tuned for the next post on validating your market and how to profit from your idea.

Online Niche Marketing; Find a Golden Nugget In A Haystack

Online Niche Marketing

Online Niche Marketing (Part 1 of a 3 part post)

The reason why I didn’t use the word “needle” is because a needle in a haystack just seems to daunting a task.  Online niche marketing, particularly, the critical step that involves finding a niche market, just shouldn’t be that difficult.

Online Niche Marketing

 

Let me break down a few things first:

 

A niche market is; A group of people who are actively searching (online) for solution to a problem, while not finding too many relevant results.  In other words; A healthy demand in relation to supply.  A thing to remember, the supply is your competition, and competition isn’t a bad thing as long as there isn’t too much (more on this later).

 

The golden nugget is; Continue Reading

Pay Per Click Advertising ROI

PPC

The Underlying Truths Of Pay Per Click Advertising

Many people believe Pay Per Click Advertising is a waste of money, the truth is, it is!  Unless of course you understand your market, know what your goals are and you stick with it!  Now Let’s break it all down:

  • Understand the simple mathematics of Pay Per Click Advertising ROI -  Let’s assume you convert 1% of PPC visitors to an eventual customer (standard conversion rate) and you are paying $3 per click on a keyword. That means, you would need to PROFIT at least $300 (initial sale) to sleep easy.Pay Per Click Advertising
  • Early on, breaking even is good -  The value in doing Pay Per Click Advertising is to test your market, review data and use this information.  Before any SEO, I always suggest doing PPC first.  Don’t spend time/money  on an SEO campaign for keywords you haven’t tested yet.  Afterwards, aim to make your PPC campaign profitable by tweaking your ads and keywords based on early testing. Continue Reading

Direct Marketing Main Component

Marketing

 The Make Or Break Component Of Direct Marketing

Direct Marketing is a rather broad category so I will narrow it down to 3 forms of media; a direct sales call, an email or a direct mail piece.  The difference between Direct Marketing today and Direct Marketing 15 years ago is that we can use the internet to help us build relationships, capture leads, process sales and view important data and metrics.

Let’s break down marketing as a whole.  There are 3 components of ANY marketing campaign;  

 

  1. The Market (exactlywho is your market),

    direct marketing

  2. The Media (how the message is sent)
  3. The Message (what you’re saying).

 

 

Continue Reading

Mastermind Principle

the mastermind principal

The Mastermind Principle: The Most Powerful Lesson in Life and Business

I’ll give Internet Marketing a break on this post. The “Mastermind” concept is critical when it comes to business and can apply to anything in life.  In this case the “Mastermind” is NOT a genius in his or her discipline.  Instead,  Napoleon Hill defines it as: ”a mind that is developed through the harmonious cooperation of two or more people who ally themselves for the purpose of accomplishing any given task”.  I know this might seem like a simple concept, some might call it teamwork or synergy, but I can assure you, this critical business strategy  is far more complex and delicate than it seems.

Mastermind

Hill could be one of the most important authors of all time.  Most of you may have heard of his most notable work, “Think and Grow Rich” but not many people know of his first book written in 1928; “The 16 Laws Of Success” ( By far the most powerful course I’ve ever read).  To write this course, it took Hill 20 years of research and close relationships with world business leaders.  He came up with 16 lessons to live a happy, successful and meaningful life; the Mastermind is Continue Reading

Article Marketing Is It Dead?

article marketing

Is Article Marketing Dead??  Don’t Ask Robert DeNiro, He Won’t Tell You

If you read my last Byzhub post, I talked about the Panda update and how it was more of article marketinga scare tactic/money grab by Google than anything else.  Google is about as tight-lipped as Robert DeNiro in Goodfellas when it comes to giving users information on exactly how they rank websites and discussing this topic in too much detail is as constructive as discussing politics, it’s a circle that leads to more questions than answers.  Panda did however make changes, and these changes did affect some sites.  Some article marketing directories were docked because of Panda, but getting links from quality directories is still very effective.  In fact, I still think it’s a great link building strategy.  For example I took a look at eZine (one of the big article marketing directories) web stats recently.  This site still has major ‘link juice’.  The truth of the matter is, article directories will never die because the good ones have a ton of quality content, and getting your article approved on these sites is still very valuable.

Continue Reading

Panda Update – The Truth

panda update

The Truth About Google’s Panda Update And So-Called “Blackhat” SEO – IMO BS!

Google altered it’s ranking algorithm to improve user experience and released The infamous Panda Update in February 2011. It’s been over a year since then and one question arises; are these changes significant enough?…Nope!

Panda just isn’t that big a deal.  It’s more of a big production, perhaps a scare-tactic.panda update

Google was built on the SAME system and formula that you see today. If they changed their algorithm, the whole system would collapse. Google will ALWAYS rank websites primarily by; volume and quality of in-bound links, keyword relevance and quality/unique content. These were and STILL ARE the most important factors. I’ve seen this first hand in many competitive niche markets today.  Google just made some routine improvements, that’s all.

It’s a fact that some website rankings and online businesses were crushed. However, The websites that were affected were sites that Continue Reading