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Broaden Your Sales By Narrowing Your Focus
An important aspect of marketing online is the
opportunity to achieve targeted, measurable results.
However, marketers are told repeatedly by the Internet
establishment that traffic is the solution to online
success.
Based on the law of averages, this premise is not too
far off the mark; the more people hit your site, the
more responses you will receive. Quantity is therefore
an important aspect of surviving online. If you want
lots of hits, you want your site in front of as many
eyeballs as possible.
But what about quality? What if these hits are
uninterested visitors who will never buy from you? For
those seeking a more cost-efficient means of selling
more successfully online, attracting a higher quality
stream of visitors -- interested, pre-qualified visitors
ready to buy - is definitely a better alternative.
The challenge facing many is that they feel they must
make a choice: Quantity versus quality. But this is not
a choice to be made. Both can be achieved simultaneously
by having a better target at which to aim and a better
weapon with which to shoot.
It's called "focused marketing," which combines both
niche and target marketing. Either will improve results,
but by applying both results can multiply exponentially.
Niche Marketing
In the competitive 2,000's, the demand for specialized
products and services will increase. If your site sells
everything but the kitchen sink, chances are your
audience will not perceive a value in buying from you
any greater than from anyone else.
Remember price is never an issue - it is the value
behind the price that is. And if your value is perceived
as equal to that of others, the cheapest alternative
wins.
The number of sales will increase dramatically if your
site is narrowly centered on a specific theme or
outcome. And the need to produce large quantities of
visitors will lessen considerably.
Let's say your best client is the corporate executive
and that your site receives 200,000 hits per month. If
your site's message aims for the public at large, there
will only be a small percentage of this ideal market
hitting your site.
Let's say that percentage is 0.1%. This means that of
200,000 visitors, only 200 will be executives. And since
your site is too general, an even smaller percentage of
those 200 executives - say, 0.5% - will be interested in
your offer and eventually buy (0.5% amounts to only one
client for an entire month).
Now consider another site dedicated exclusively to
corporate executives. Assume this site receives only
5,000 hits per month - agreeably, it's not a whole lot.
But the percentage of those visitors falling into the
target market will be 100%.
Furthermore, the percentage of interested leads will be
greater. To be conservative, let's say it is only 5%.
This means of 5,000 hits per month, one can achieve 250
sales.
The beauty of it is that it probably took a lesser
investment of time, effort, and money to achieve 250
sales per month than it did to achieve one sale per
month. Therefore, you definitely get more with less. By
narrowing your market or focus, you broaden your chances
of online success.
In short, the more specialized your web site or online
business becomes, the more qualified, interested leads
will come to you and the more sales you will generate.
Target Marketing
If you say your ideal client is a technical programmer,
aged between 25 and 35, and earning over R250,000 per
year. Your chances of reaching such an audience by
plastering your link all over the Internet will be
minuscule. And even if your message does happen to
appear in front of your specific market, chances are it
will go unnoticed due to the general nature of the
location in which your message appears. Not good.
Your message should appear in front of people likely to
read it and take action. If you promote your online
business in places in which your target market is likely
to congregate, it is true your costs will likely be
higher. However, your cost-per-visitor (or
cost-per-lead, even cost-per-sale) will decrease
substantially.
Combining targeted and niche marketing can produce
substantial improvements over non-focused marketing. By
lessening your market as well as the market to which you
advertise, you will proportionately increase your sales. |
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