The Vital Role of Online Marketing Research in Estimating Marketability and Profitability!
Essential Aspects of Internet Business Marketability!
What is a market?... or a niche, as it's called in internet business circles. It seems like a pretty easy and
straight forward question.
Is it really?
Most experts define a market as "any collection of buyers and sellers organized to exchange any type of goods,
services, and/or information".
It's quite simple, but if you think about it further, you may come to the following conclusion...
The very existence of a market around a certain type of product is actually a loose, or conceptual measure of
its inherent value...
If there's a market, then there's value for both buyers and sellers!
Buyers get value in the form of benefits and experiences, and sellers in revenue and profitability.
On the internet, any product's success potential is measured by its marketability and its projected
To this end, online marketing research is critical...
Value starts at the research level... and everything that concerns business on the internet has some research
Very certainly website design, copywriting, search engine marketing, and of course estimating a product's
marketability is no exception.
Defining Marketability Starts With Online Marketing Research.
Will I make money with this particular internet business?
Can I achieve profitability above my competitors?
These are the real questions, aren't they? They're the questions that concern every internet entrepreneur... and
they're the ones that should be driving all your actions at this point.
Marketability is, of course, a qualitative measure of potential profitability...
Only research will shed light on the important competitive issues that will help you understand how profitable
your internet business may be.
Keyword research as described by most internet marketers is only the beginning...
Although it's absolutely vital in planning any internet business and a critical element in estimating
marketability, it also results in only numbers, statistics, and pure data... useful, and surely of the grandest
importance, but perhaps also lacking in important matters of a subjective nature.
But because pure numbers and gross statistics show the important, and often hide what's essential... competitive
research must go beyond popular keywords, and search volume.
This type of competitive research must be understood as a means for internet entrepreneurs to deliver different
solutions and attractive alternatives for potential customers.
Remember that internet business success hinges upon your ability for differentiation... so attention to the
subjective makeup of a market is just as important as any of its structural realities.
That being the case, it's just as important to consider questions like...
What's my "expected" customer really looking for?...
Is he expecting a certain "special" type of experience?...
What type of experiences is he getting now?...
Are there real opportunities for promoting alternate views of value?
This is a basic entrepreneurial attitude that must be present at all times while performing competitive research
for markets on the internet.
Issues of Demand to Successfully Determine an Internet Business's Marketability and True Profit
First there are issues of demand, mainly...
Size of market...
Growth potential, and lastly...
While the issues of size and growth are important, they're only meant to hint at the general health and possible
opportunities of a market, and not necessarily meant to be specific.
Buyers on the other hand, must be looked at in close detail. So specially important demand data are...
Quantity of buyers, in the form of search volume by keyword phrase.
Who they are, and what they search for on the internet, and...
How they go about performing those searches.
Issues of Supply to Effectively Deploy a Coherent Value Strategy and a Winning "Alternatives Framework"...
Then of course, are the all-important issues of supply... that is, all the directly and indirectly competing
websites that are out there and have an offer of value based on similar products or services..
Although a good estimate of that number is essential, it's not nearly all there is to understanding supply.
Also important to you are...
The scope of your competitions' value strategies, and...
The "alternatives framework" created by the major players in your market.
So the issues of demand and supply do shed light on an internet business's marketability and potential
But in all this research, it isn't the cold hard numbers that you must be looking out for the most...
They're vitally important... don't get me wrong.
But in understanding your market, you're also looking to find an environment within a competitive space where
you can effectively create opportunities that will enable you to present your unique offer of value most