During the early years of internet marketing, just the fact that you had more practical knowledge than anyone else allowed you to make money online. As a result of limited competition, online marketers who took steps to benefit from autoresponders and the power of Google Adwords had the potential to make lots of money. In time, internet marketing has evolved and changed; these days it is vital to create good relationships with clients. Keep reading to find out how relationship marketing can grow your business in a number of ways.
E-mail marketing isn't the top method of connecting with clients anymore; still you should definitely take it into consideration when growing a business on the web. Building a list is different since the main focus is not really on increasing your number of subscribers. In actuality, individuals who join your list will most likely be on the list of other internet marketers also, and so you want to be sure that they opt to open and read your emails. There's no question that email open rates have fallen in recent years, so you must position yourself in such a way that your messages are seen as a priority to the people on your list. As we all know, when you give generously you can count on receiving numerous benefits in exchange. If you deliver value and information for free you will find that customers are more open to purchasing from you when you start to make suggestions to them.
So if we believe that email marketing is still important, we must also recognize that social media has introduced a new era for relationship marketing. Social media sites including Facebook and Twitter are today important parts of the lives of large numbers of people and the communications that they have with each other can help or harm a web business. Internet marketers can benefit from being active on these websites if they interact positively with people. If you interact with folks in a manner that encourages their trust, they're almost certainly going to join your email list or click through to your web site. That is the objective because sales can then be made from your web site or through your email marketing.
If you develop your knowledge of these social websites, you can rapidly build a loyal following by the way you grow relationships. There are lots of examples of internet marketers who approach this in the correct way and you can model their success by seeing how they make use of these sites. As with every marketing online, if you learn from people who are already prosperous in an area, you can avoid some of the mistakes that can be difficult to repair.
Relationship marketing is the way to go on the Internet and you can expect to experience a better degree of success if you offer value and show honesty in your efforts.
What's all this hubbub about niche marketing? Why is every successful marketer preaching niche marketing as being vital to your profitability as a marketer online or offline?
In answer to that, let's paint a little picture... Imagine you have an idea for a great product, an idea so great you decide to turn it into a product and sell it. You're going to make millions so you labor away hour after hour creating a masterpiece, well... It's a masterpiece in your eyes.
Hours of feverish activity, a month goes past, then another, and finally the great day arrives when you launch your product. You have a superb product and the best sales website on the internet. Another month goes buy, then two and... Not one sale!
In desperation you hire an experienced marketer for their advice, but what they tell you, crushes you...
"You don't stand a snowballs chance in hell of making any sales!"
You see you have picked a massive market to sell to; you are competing against big established suppliers who are seen as experts. The market trusts them because they are well known and have great reputations. It's David against Goliath only David forgot his sling.
If this has happened to you, you're not alone. This little scenario plays itself out day after day. Each month thousands of people find themselves in this situation.
Doesn't it infuriate you to see others seemingly doing exactly what you did, but they make money? From their product launch they bank the profits. Want to know what they did differently?
They found a niche market, created a product specifically for it and they sell that product to that niche only. Don't make the mistake of thinking niche marketing is something new, savvy marketers have always sold to niches. It's only recently that niche marketing has been so heavily publicized.
Niche marketing is the process of finding small profitable segments of a much larger market and involves a lot more effort. Established suppliers to larger markets are usually not prepared to spend this time and effort required to seek out smaller segments, leaving them ripe for the picking.
One way of explaining the niche marketing concept is to picture a tree - it has a big trunk which leads to branches leading to even smaller branches and finally tiny twigs. Take the topic of fishing which can be likened to the trunk of the tree having branches leading away from it including:
- Deep Sea Fishing
- Salt Water Fishing
- Game Fishing
- Fresh Water Fishing
The smaller branches leading from Fresh Water Fishing include:
- Fishing Baits
- Bass fishing
- Fly Fishing
The tiny twigs leading from Fly Fishing include:
- Trout Fishing
- Steelhead Fishing
- Fly Tying
This is a good example of niche marketing because people who fish tend to be nuts about the subject. Drill all the way down to the tiny segment of Steelhead fishing and there are still avid enthusiasts who will go to any expense to catch the "big one", including buying books or e-books.
One point worth noting is that any book or e-book on Steelhead Fishing had better be full of useful advice (i.e. the advice works), so you had better be an expert and know what you're talking about if you intend to write one...
Finding niche markets is not as easy or obvious as you might think. Sitting down with a piece of paper and drawing a tree listing all your ideas is NOT the way to go. You are listing your ideas... your ideas won't sell!
You need to find what your potential customers want, and to do this you need to conduct some research, here are a few ideas to get you started:
1) Visit a few online forums related to your interests. Take note of the questions people are asking and how many times similar questions are asked.
2) Visit a few book stores and go to the magazine section. Take note of the types of magazines on sale. Ask the sales assistant which magazines sell the most.
3) Take a look on eBay and spend some time going through the categories related to your interest. Take note of popular items and how often they sell.
By finding a small segment of a much larger market in which people are actively buying, and where there are not too many competitors, is the best chance you have of making money from selling your own product.
No one ever got into a business with the intentions not to make money or to expand throughout the coming years. It is the hope of every business owner that their "baby" is profitable, as well as display a reasonable amount of growth. One of the best ways to achieve the goals that are set for a business is to implement effective marketing plans. There are many different approaches to consider, such as increased promotion, persuasive advertisement, as well as positive customer interaction.
Without proper business marketing techniques, a company stands to lose ground with the public, as well as with competitors. I know you must be thinking about how much it will cost to market your business, but trust me; there are ways to make sure that it isn't an expense you cannot handle. There are numerous approaches a business owner can take to maximize what they have, as well as save money.
Maximize Your Contact Information
Make your presence known through everything you do or send out to others. This means plastering your contact details on all of your marketing emails and packages. Don't forget to include your logo, address, phone number, and website address (when applicable) on your company letterhead and business cards. Your company name should be visible and recognizable. Make sure your business doesn't go unnoticed or is easily forgotten. This is a great way to not only promote your business, but to also build a connection with the public. Sometimes a catchy slogan is effective in making sure clients associate your business with a specific line of products or services.
Take Advantage of Article Writing
It doesn't cost much to promote your business through the writing of articles pertaining to your company. Try to place business promotion at the end of the article. The next step is to enter the article into a directory, magazine, newspaper, or Ezine. The best way to use this method is to send out your articles to the type of venues your target audience will most likely frequent.
Say It With a Press Release
Spread the news of your company through the creation of a press release, which is great to announce the expansion of your business. This is also a great way to alert the public when a new product is available. It doesn't cost much to pay publications to print a press release.
Embrace the Internet
Don't ignore the power of a forum, discussion or message board. Choose a few reputable forums to post. Do not concentrate on marketing your business at first, market your interest and knowledge in your field and then once you develop a trusted presence, you may plug your business every once in a while.
Everyone Likes Something For Free
Another smart business practice in the wonderful world of marketing is to give away free items or services. This satisfies current clients and customers, as well as attracts a new crop of potential buyers. This is a great way to build relationships with the public and depending on your freebies, the cost is minimal.
Use All Media Outlets
Television and radio possess a power over the people that cannot be denied. Business promotion can be quite beneficial when you branch out to all kinds of media outlets. Sometimes, you may not get the response you hoped for, but you will have at least tapped into a different market you may not have reached before.