In the previous post: “Why Almost 99% of Internet Businesses Fail“, we talked about the REASON why many hard-working and motivated online marketers failed to achieve any success is because they overlooked a BASIC RULE of MARKETING.
This post will talk about this rule, and how to apply it to increase your online sales conversion rates.
So what is the basic rule or principle of marketing that most internet marketers are overlooking or ignoring?
The answer is… they fail to find TARGET MARKETS that have CUSTOMERS who are willing to BUY!
Please understand that the key to success online is NOT about PERSUADING and CONVINCING people to buy your products or offers. But rather, it’s about FINDING TARGET MARKETS that already have people WANT to buy. What you need to do after finding these markets is to present your solutions or offers in front of the buyers.
But, how to you find markets that already have buyers?
Well, there are many ways to do this. Personally, I use a software tool called: “Micro Niche Finder”. It’s a very powerful and time-saving software that can help you uncover markets quickly. For more information, read this post: “Micro Niche Finder Review“.
Another of my favorite way of finding target markets that already have willing buyers is known as reverse-engineering. This method is very useful if you have no idea about what niche market to get into. Instead of starting from scratch at the very beginning of the niche finding process, you just need to spend an hour or two studying your competitors’ ads and offers. This very simple yet powerful technique is described in details in “Adwords Checkmate Matrix“.
It’s very important that you first find a target market that has potential buyers before you spend time, money and effort creating your Internet business. If you do that, increasing your sales conversion rates is a matter of implementing some sales techniques or tricks that work. On the other hand, if you’re in the market that has no potential buyers, success will always elude you, even if you’re the greatest marketer or salesman in the world.
After you’ve identified your target market, the next step is to perform keyword research and analysis. This is the process of identifying keywords or keyword phrases that are used by your buyers when searching for products/solution.
For me personally, I use 2 software tools: “Micro Niche Finder” and “WebComp Analyst” to identify low-competition keywords and perform backlink analysis.
TIPS: Remember that NOT all keywords are created equal. Some keywords have HIGH commercial value, some have LOW. This means there are keywords that people who are ready and willing to buy will search for, and there are keywords that people using just for browsing purposes. Obviously, you want to target keywords that have high commercial value.
For example, the keyword/phrases “iphone 3g” and “where to buy cheap iphone 3g” have different commercial value. The first one is very general, will get you lots of clicks, but very little or no sales. The second one is more specific, will get relatively few clicks, but have higher sales conversion rate.
Therefore, in order to increase your online sales conversion rates, you want to target keywords that are more specific. Because these are the “buyers keywords” as opposed to “browsers keywords”. Read this related post: “More Traffic Does Not Mean More Money?” for more info.
Hope you find the information in this post helpful.
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