Ways to Make Money - Look No Further Than Your Niche

Discussion in 'Panerai Watches' started by charlotte kristy, Jan 4, 2018.

  1. charlotte kristy

    charlotte kristy

    TKF Newbie
    Jan 4, 2018
    I always wonder why people who are currently engaged in a home business are still looking for more ways to make money. I understand that these may be individuals who are not satisfied with the revenue generation of their current businesses. However, rather than engaging in a completely new ancillary business, I would advise that they become more efficient with their current business.

    Your first goal should be to personify your classic customer. This customer is the one who, based on their needs, would be most interested in what your online business has to offer. If you can do this, you will be able to pinpoint your target market, and avoid marketing to those who are unlikely to be interested in what you have to offer. This is a critical step for the home business with a limited budget. Taking this step will greatly increase your probability for success.

    The truth is that you want to do the opposite of what America Online (AOL) did back in the late '90s. You probably recall getting that CD-ROM in the mail in that orange sleeve. You probably also recall throwing about then of those things away. I know I do. Back then, the Internet was very new. As a result, not only was market share up for grabs, but AOL was unable to target its market. Due to the Internet, more and more homes and businesses became equipped with computers. With this growing trend, AOL engaged in blanket marketing and sent several CD-ROM's to everyone. The difference between AOL and your online business is: 1) AOL was dealing with a market which was difficult to target; 2) The market was wide open and; 3) AOL had the money to spend on such blanket advertising.

    I am going to assume that you do not have a five-hundred thousand dollar advertising budget to just blanket the Internet with your website. Therefore, you need to identify your target market, and focus your advertising efforts directly on this group.

    You need to brainstorm a little bit. Ask yourself the following:

    Who actually NEEDS what you have to offer? For example, if your online business sells weight loss products, then your primary target marketing should be directed to those who perhaps need to lose weight, such as diabetics, or people with hypertension. Who WANTS what I have to offer? In the same example, those who are simply not happy with their current weight may not actually need what your online business offers, but probably want it.

    Next, look at your current customers. Who are they? Where do they live? Are they primarily male of female? How did they find out about you? Do they spend a lot of time surfing the web? Furthermore, you can ask your customers what they like about your home business, and what they think would benefit from change. Answers to these questions will make it easier for you to narrow down your target marketing audience, find them online, and market your home business to them.

    Hence, getting a clear understanding of which market segments both need and want what you online business offers will enable you to expand the profit margin of your current business. If you do this, you will not need to focus on ways to make money through multiple businesses.

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