If people fall prey to any of the unrealistic expectations we have discussed, the outcome is that they do not spend enough time researching and planning their online activities to make them a success. Instead, they will think it is just a matter of slapping a website up and putting a shopping cart on it to get orders.
That could not be farther thing from the truth. You have to start by knowing what niches are hot online and how you plan on attracting people to your site. Even if you managed to get a huge traffic stream, do you know enough to convert those visitors into leads or customers?
This is where people fail miserably when they could have improved the chances of success simply by taking some extra time upfront to research and learn how to implement a successful online business.
What Is Your Hot Niche?
Typically, people can get carried away with a specific, personal passion that they instantly focus all their energies on marketing it, thinking that customers will be equally enthralled with this topic. That is a poor way to establish a business online, especially with so much information online about what people are actually buying, searching for, or talking about.
Why not market something that everyone already has an interest in and that they do not need to be convinced to buy? Make sense?
One thing to remember when working out what niche you want to target is that niches can often be dependent on world events. Right now, the CoViD-induced recession has made some niches more important than others.
Finance is always a hot niche, but the influence of the recession means that there is less interest in the stock market and housing and more interest in debt management and consolidation.
Or, you might find a sub-niche like gold mining stocks; stocks which were not very popular before the recession, but that now have numerous investors flocking to them.
Research Using Online Tools
There are many online tools and options you can use to support your research efforts. Here are just 3 ideas:
• Use online tools like Google Keyword Analyzer to find out what keywords, and thus niches, are being searched currently.
• Go to places like Digg.com or Technorati.com to find out what topic is tops on everyone's mind right now.
• Go to eBay.com or Amazon.com and look through their top sellers.
This will give you great ideas on what is hot and easily marketable, even before you take the time to develop a website or open a blog, saving you tons of time and heartache down the road.
Need help getting started with this? Prefer someone else do it for you? Contact me today for an analysis of your needs and a plan to move forward.