Ways To Make Money - Do Not Ignore Targeted Buyers
One thing that I find interesting is that people who are already running a home based business still seek new ways to make money
. Perhaps these individuals are not satisfied with the money which they are currently earning from their home business. However, my advice is that you focus on your current business, and work on becoming more adept.
When it comes to making money online, your first priority should be to identify your prototypical customer. In other words, when presented with what your business has to offer, who will be most interested in what your home business has to offer. Doing so will enable you to identify your target market, and avoid the waste and expense of blanket marketing. For an online business with a small budget, this is an essential exercise which will greatly enhance your probabilities for survival.
The truth is that you want to do the opposite of what America Online (AOL) did back in the late '90s. You probably recall getting that CD-ROM in the mail in that orange sleeve. You probably also recall throwing about then of those things away. I know I do. Back then, the Internet was very new. As a result, not only was market share up for grabs, but AOL was unable to target its market. Due to the Internet, more and more homes and businesses became equipped with computers. With this growing trend, AOL engaged in blanket marketing and sent several CD-ROM's to everyone. The difference between AOL and your online business is: 1) AOL was dealing with a market which was difficult to target; 2) The market was wide open and; 3) AOL had the money to spend on such blanket advertising.
With regards to your online business, you more than likely cannot afford to expend tens of thousands of marketing dollars all over the internet. Therefore, you need to identify your target market, and focus your marketing efforts on this group.
You need to brainstorm a little bit. Ask yourself the following:
Which people really need what you are selling? For instance, if you own a home business which offers supplements to lose weight, then you should be targeting your marketing efforts to those who need to shed some pounds. For example, people with high blood pressure or perhaps diabetes. Next you need to identify who wants what you are selling. Perhaps someone who is having difficulty shedding those last ten pounds may not necessarily need your weight loss supplement, but they will most likely want it.
Next, look at your current customers. Who are they? Where do they live? Are they primarily male of female? How did they find out about you? Do they spend a lot of time surfing the web? Furthermore, you can ask your customers what they like about your home business, and what they think would benefit from change. Answers to these questions will make it easier for you to narrow down your target marketing audience, find them online, and market your home business to them.
Thus, by identifying who both needs and wants your products, you will be able to increase the profit margin of your existing business, and will not have to keep on looking for new ways to make money.
by: Brian Lett.
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