Observing current and past trends for Internet marketing, it appears that technology is making it easier to buy and sell things online, with faster computers, easier Internet access, and growing consumer confidence and sophistication in making purchases online.
Retail marketing online is growing much faster than retail marketing offline. It is also much easier and ridiculously cheaper to start an ecommerce website as opposed to starting a retail store. There is, however, one snag for the aspiring entrepreneur, due to the declining economy, millions of people are turning to ecommerce to make a living. Consequently, it is much harder to compete.
While, theoretically, anyone can start an online business on a shoestring budget by simply purchasing a plan, a tutorial, or a turnkey business model, only a very few people actually know how to make a large income from their websites.
Statistically, ecommerce sales should do well. Realistically, only the big retailers and a handful of seasoned entrepreneurs are doing well with it.
How, then, can you make Internet marketing work for you?
Here are five essential tips to beat the stiff competition:
1. You need commit to doing it full out. If you are half-hearted, unsure, or just “testing the waters” you will not make the necessary effort to overcome the many obstacles that stand in your way.
2. You need to find a well-thought out plan.
3. You need to identify a “hot” product in a niche where the demand is high and the competition is low.
4. You need to be well-versed with every phase of Internet marketing. There is a lot to learn, and the learning curve is steep, especially for someone not familiar with computers, software, and marketing. Unless you know, for example, things like how to do keyword research or how an autoresponder system works, you will not be effective. While it is not necessary for you to do all the work yourself—you can outsource most of it out—you do have to know what you need when you hire out.
5. Everything in your ecommerce system should fit together to create a profitable market funnel. One small piece out of alignment can mean the difference between massive success and dismal failure. For example, if you create a high-converting website for a product that is much in demand and also know how to generate tons of website traffic, you may still not make enough money because you have no idea how to resolve certain technical or marketing problems that may arise.
Just as in a regular business, the profits go to those who are best prepared, the most efficient, and who know how to take a niche theme and scale it up over time. So while the Internet marketing future does look bright, it is not as easy to make money as when ecommerce first started about a decade ago. However, with the right resources and a well thought out marketing plan, you too can take advantage of having a successful business online.