If people fall prey to any of the unrealistic expectations we've discussed, the outcome is that they don't spend enough time researching and planning their online activities to make them a success. Instead, they'll think it's just a matter of slapping a website up and putting a shopping cart on it to get orders.
That couldn't be the furthest 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's 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 don't need to be convinced to buy?
One thing to remember when working out what niche you want to target is that they can be dependent on world events. Right now, the 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, ” which weren't very popular before the recession, but that now have numerous investors flocking to them.
Research Using Online Tools
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.
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