It has been some time since my last post due to the fact that I have become a father, our daughter has priority over a blog that I like writing, as I am sure you can understand
Having said so in my last blog I referred to SEO which I have went into but have to read and try again before I can say or summarize anything useful about it.
Going over the ecommercefuel blog a couple of times, playing with Google Keyword & Google Analytics, reading various different articles and blogs I have learned a few things but more importantly it has made me think and guess what! I am going to share those thoughts.
I have become pretty much convinced that starting your own internet based business requires a bit more thinking, planning, execution and determination than your average in the street store. Why is that?
First of all you need to find a product that you are willing to sell that carries enough revenue potential and has a relatively high yield.
Secondly once you found your product you need to have a web domain which is uniquely registered to your business ensuring you do not use an already registered domain name. For this you will have to go via ICANN as this is (as far as I have been able to determine) and internationally recognized organization.
After the above you have to start generating traffic to your website, targeted marketing campaigns just to get noticed, you haven't sold anything just yet.
Once you got those basics started you will still need to be able to attract customers and increase your customer base. I think the way forward is to offer various products for specific target groups using various types of social media. That part is still under construction in my head. I did read an excellent article that provides a "behind the screens" view of ecommerce (in this case somebody trying to buy a webstore).
Last week I bumped into an old acquaintance who is a CEO for a SME production company, we started talking and touched on the subject I am currently investigating and trying to get my head around. His company is active in a dying market, revenue numbers are dropping (globally) for the last 10 years. He employs over 500 people and his main worry is that sooner or later he has to lay off parts of his staff.
We surfed to his website and to demonstrate my case I went to Google Keyword + Google PageRank and entered a few criteria. What we both discovered that we ended up in an internet arctic land. Very low statistics for his company and his competitors (A Brands globally known) both domestic and international. Basically nobody knows about it or nobody has an interest in it. Probably a bit of both.
That could be the niche I am looking for. Some of you will be saying: Leave it! It is dying! Probably true, but it doesn't mean you can't make money out it :) Remember the introduction of the quartz powered digital watches in the 80's? Back then everybody was convinced convention watches would be extinct in a few years...
After showing him an article arguing the "Next Big Thing" aka Social Commerce we suddenly found ourselves talking about strategy, targeted markets etc etc.
We agreed on the fact that niche + internet arctic land + SOE + marketing campaigns + social commerce could actually very well work for the products we have in mind. Remember the best products are prices between $100 - $ 200 with good margins. I will keep you posted on this one!
In the mean time my small little bulk purchases have arrived from China, so it is time to start testing the market again and see if I can make those products work for me
I will hopefully be able to blog a bit more frequently!
Thanks for taking the time to read me and please use the voting buttons!
Having said so in my last blog I referred to SEO which I have went into but have to read and try again before I can say or summarize anything useful about it.
Going over the ecommercefuel blog a couple of times, playing with Google Keyword & Google Analytics, reading various different articles and blogs I have learned a few things but more importantly it has made me think and guess what! I am going to share those thoughts.
I have become pretty much convinced that starting your own internet based business requires a bit more thinking, planning, execution and determination than your average in the street store. Why is that?
First of all you need to find a product that you are willing to sell that carries enough revenue potential and has a relatively high yield.
Secondly once you found your product you need to have a web domain which is uniquely registered to your business ensuring you do not use an already registered domain name. For this you will have to go via ICANN as this is (as far as I have been able to determine) and internationally recognized organization.
After the above you have to start generating traffic to your website, targeted marketing campaigns just to get noticed, you haven't sold anything just yet.
Once you got those basics started you will still need to be able to attract customers and increase your customer base. I think the way forward is to offer various products for specific target groups using various types of social media. That part is still under construction in my head. I did read an excellent article that provides a "behind the screens" view of ecommerce (in this case somebody trying to buy a webstore).
Last week I bumped into an old acquaintance who is a CEO for a SME production company, we started talking and touched on the subject I am currently investigating and trying to get my head around. His company is active in a dying market, revenue numbers are dropping (globally) for the last 10 years. He employs over 500 people and his main worry is that sooner or later he has to lay off parts of his staff.
We surfed to his website and to demonstrate my case I went to Google Keyword + Google PageRank and entered a few criteria. What we both discovered that we ended up in an internet arctic land. Very low statistics for his company and his competitors (A Brands globally known) both domestic and international. Basically nobody knows about it or nobody has an interest in it. Probably a bit of both.
That could be the niche I am looking for. Some of you will be saying: Leave it! It is dying! Probably true, but it doesn't mean you can't make money out it :) Remember the introduction of the quartz powered digital watches in the 80's? Back then everybody was convinced convention watches would be extinct in a few years...
After showing him an article arguing the "Next Big Thing" aka Social Commerce we suddenly found ourselves talking about strategy, targeted markets etc etc.
We agreed on the fact that niche + internet arctic land + SOE + marketing campaigns + social commerce could actually very well work for the products we have in mind. Remember the best products are prices between $100 - $ 200 with good margins. I will keep you posted on this one!
In the mean time my small little bulk purchases have arrived from China, so it is time to start testing the market again and see if I can make those products work for me
I will hopefully be able to blog a bit more frequently!
Thanks for taking the time to read me and please use the voting buttons!