The Importance of Market Research

Marketing is a versatile, competitive world, and when developing your marketing plan, odds are you will not get it right the first time. You need time to learn about the demographics, geography, and psycho graphics of your customers before your marketing can really be effective. That is why it is important to not stick with your first plan, as you will need to change it frequently for one reason or another.

A good phrase to live by in marketing is, "Learn from your mistakes." Sometimes testing happens naturally. Some of your marketing campaigns will fail, but instead of getting discouraged, analyze what went wrong. Maybe you advertised through the wrong medium, or to the wrong demographic. Collect all the mistakes you have made and really look at them; do not try to forget or ignore them, you have to face your mistakes if you want to be successful.

If you hate making mistakes and want to get it right the first time, there is a way, and that is market research. However, full on market research is incredibly expensive and small businesses cannot afford it, but light end market research is possible. Basically, you just have to look at the demographic of your competitors and make that your demographic. It's not that easy, though. Demographics may vary between businesses of the same nature, and that is where testing comes in. You need to test if that demographic works for you, and if it does not, you need to test another demographic.

You should not spend a lot of money on market tests. The purpose, after all, is to find the medium and demographic through which you should advertise or market. For example, if you have a website, you might want to try out banner advertising. Don't spend a lot of money at first, only spend a little and see the ROI. If the conversion is good, you know you will want to keep advertising through that medium. Executing so many marketing tests is time-consuming and costly, but it all pays off when you finally develop an effective, recyclable marketing campaign.

Pay Per Clicks

There are many advertising options out there for small and large businesses alike. A new phenomenon that has recently hit the scene is the use of sponsored link searches for advertising needs. Are sponsored links really the best way to allocate valuable advertising dollars?

A re occurring complaint I hear from many of my customers is that sponsored links are not developing the return on investment they desire. There are several key reasons to why this may be occurring. Sponsored links, or pay per click advertising, are links on the right hand side of most search engines. These links, historically, are only used by approximately 30% of the online search market. By using only sponsored links in your online marketing campaign, you have essentially cut out 70% of the market that may be searching for your business. Further, did you know that there is a constant bidding war on the sponsored side of the page? Business are having to spend valuable working time managing their sponsored link page to make sure the are staying on the first page, while not breaking the bank. Because most consumers don't search past the first page of search engines, it is a constant war to "out bid" your competitors and stay in those valuable spots. But what is to keep your competitors from clicking your links and costing you tons of money and headaches? Thankfully, Google (among others) have allowed you to set certain limits on the amount of money you wish to spend monthly on sponsored link searches. While pay per click ads may get you some form of business, I do not believe they are the end all in online marketing. It is important to recognize several key factors when thinking about investing in pay per clicks.

1) How can I minimize "fraudulent" clicks by my competitors

2) Are their other online options, for around the same cost, which can give me a better return on investment? and

3) Am I willing to cut our 70% of the search market by spending money on sponsored links?

For some businesses, pay per clicks work. I am not advocating that they don't. The law of "big numbers" may come into play here where if you do something long enough, the average return will be worth the investment. I have found other advertising mediums that allow my customers a better, more stable, return on their investment. Diversity is the key to the marketing game and in order to advertise to all corners of a market, it is necessary to weigh your options and decide if you have the time, and money, to play the "big numbers" game.

Chad Sandifer
http://www.tenlist.com

Branding Yourself Will Bring You Greater Success

Wouldn't it be amazing if there was a way to successfully brand yourself without selling products and or services.Now most new internet marketers starting out their businesses just want to make a quick buck so they do not brand themselves correctly.

But smart folks like you and I know that if you try to brand yourself just by selling products and services if your customers don't like what you are offering, it is a lot harder to get your business off the ground.

If you brand yourself correctly and are known as a provider of good information you will have far greater success in selling your products thus improving your income.One of the most commonly used ways to brand yourself is to tell real life stories, show your audience that you relate to them.But beware once you have branded yourself and you are known and trusted by the public don't stop providing information to others.

Build up your business by branding yourself and providing relevant and popular information.How to position yourself as the obvious expert branding yourself as the obvious expert is the only way to dominate a niche in the marketplace.Now let's look at this for a second, why would people brand themselves when they could just brand the product and makes sales.

The people who brand themselves are in a completely different mindset.When you brand yourself, people trust you, they see you as the expert people are much more willing to listen to you and most importantly buy from you.If you just brand a product a person will buy the product and probably not even know who you are.

By branding yourself as an expert on your topic, you can easily increase your traffic to your site, as well as sales. Marketing and branding works for products and companies.

The point is this. Branding yourself is all about self-expression.The notion of branding yourself is not new. Your idea of branding yourself is a dynamic strategy everyone should use if they plan on being a big success.What prevents you from over branding yourself is the ability to express a quick summary or movie preview in a concise and articulate way. Particularly in any sales-driven industry, branding yourself is as integral to the success of your business as the company logo.

What NOT To Do Using Pay Per Click Campaigns

I see a lot of experts recommending that new online entrepreneurs use pay-per-click programs as a traffic building source to generate profits for their new online businesses. Unfortunately, what they fail to mention is the potential costs involved. Many new online business owners underestimate the potential traffic if they are new to pay-per-click programs and wind up paying much more money than they had planned on. This is particularly true if they are unfamiliar with PPC.

Others who are new to the program choose a very general search term in order to maximize the number of clicks. They mistakenly think that more clicks will automatically mean more money. Unfortunately, this is not true. In order to make money using PPC programs, you need TARGETED clicks. You have to use a very narrow focus to concentrate on people who are likely to need the products that you are offering.

If you focus on the word "ebooks" in your campaign, you will get tons of clicks from people who are looking for free ebooks, but you probably won't get many buyers for your "ebook maker" product. This campaign will be doomed to failure. But unfortunately, many new entrepreneurs hear about the PPC hype and jump right in without doing the necessary research.

So, if you are new to the Internet marketing business. Do your research before committing yourself to any type of program. Make sure that you can afford the 'worst case scenario.' If you are using PPC programs, narrow your focus. Be aware that a higher number of clicks does not necessarily mean a higher amount of profit, but it WILL mean a higher cost. And sometimes it means a much higher cost. So do your research. Your online business doesn't have to begin making profits in 2 minutes; it's okay if it takes a little longer.

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