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For years, I've been helping business owners tobecome more successful online, so I've seen a lot of the numbers! It doesn't matter what sector you are in, whether it be Legal, Recruitment, Health Insurance, IT Support, Dentures, Business Management Training, Diamond Jewellery, Memory Sticks, Health & Beauty, Copywriting, Costume Jewellery, Cosmetic Dentistry, Moving Boxes, Driver Training, Telecommunication, Health & Fitness, Debt Management, Dating, Entertainment Agency, Couriers... In practically every case, the amount of money that these business owners make online is proportionate to the value of their market.
Generally, a business with keywords with higher numbers of searches tends to make more than a business based around keywords with lower visitor values. However, that doesn't mean that you cannot make an excellent profit from online marketing in these markets!
There are plenty of other factors that will affect your success in your market online:
- The number of competitors in the marketplace - Each additional competitor means someone else is taking a slice of the pie.
- The strength of competition in the marketplace - Some markets are dominated by a few well-established competitors i.e. websites that are already in high positions in SEO or Adwords.
- Your product or service optimal price point
- Your ability to achieve high rankings in the search engines - The higher your website ranks the more traffic you will get!
- Your visitor-to-sale conversion rate - How good is your website?
- Your desire for success - Being successful is hard work!
- Your knowledge - Can you communicate with other people convincingly and with authority in your market?
- Your effort - A part-time effort will only ever create a part-time reward.
- Employ an internet marketing specialist company to increase your level of internet marketing skill - If you want to dominate a niche, you need to be at least a little bit better than your competitors.
- Market lifespan - If you are in a market targeting the "London Olympic Games" you might get you a lot of enquiries over the next few years, but after August 9, 2012, you can expect this market to perish!
- Product lifespan - Similarly, if you are selling paper-based directory advertising what is the lifespan? Not long!!
- Existing content - Having great content is a prerequisite for ranking well in Google. Is there existing content in your market that you can syndicate? If not, can you write content for that market?
- Time - Can you spare the time or employ people (regularly, in ample quantities, and for long enough), to grow your business into the authority in your market?
- Available resources - People, knowledge, money!
How good is your team of converting the enquiry to a sale - You won't make a bean if you can't convert visitors into customers!
Bearing in mind all these important factors, I guess what I'm saying is whether you sell services and/or products to B2B and/or B2C anybody can make an excellent return on investment from a well-thought-out online marketing strategy and plan.
