New and Improved... Or Is It?Written by Bill Platt
Twice in last two weeks, I have come across articles where he author is celebrating "A New, More Effective Way to Promote Your Business on Web."
Exhuberant, I opened each article expecting to see something new and interesting. On both counts, I was disappointed. Both articles offered nothing new... just same ol' hash, rehashed.
I guess wisest man around, knew about Internet well before it was created. Solomon spoke well when he said, "There is nothing new under sun."
To some people new to Internet, or new to promotion on Internet, these people come across as Internet geniuses who have discovered a great new technique for promotion. Granted, for reader who has never seen these techniques, they are in fact seeing a new technique.
For newbie to world of Internet promotion and marketing, they have discovered a new marketing guru to pay attention to. But, what happens when down road, this same newbie sees same author claim "New and Improved" once again --- but this time newbie isn't a newbie and recognizes "New and Improved" technique is only a rehash of same ol' hash?
Word Of MouthWritten by Bob Osgoodby
The one year anniversary of start of your web business rolled around, and you had 8,126 hits to your web site by 3,712 people for calendar year. That averages out to about 10 visitors a day. In analyzing these figures, it shows that some of those people were intrigued enough to visit other pages on your site during their visit. Like a robust meal, some came back for seconds and maybe even thirds.
Statistics show, that only a small percentage of people visiting a web site actually buy something. Now if you're selling a "high ticket" item, that could have resulted in thousands of dollars worth of sales, and may be perfectly acceptable. A "low ticket" item, on other hand may have only netted a small amount, and made a small profit or barely recovered costs.
The web site selling "high ticket" item must balance their production capabilities with demand. Maybe they can't handle any more customers. The person selling "low ticket" items has their work cut out for them.
So let's concentrate on what "low ticket" person has to do. The pundits say that you must sell yourself first, and product or service will be an easy sale. Well this is true to a certain extent. You must however have something that is saleable, at a competitive price.
Let's talk about price. Yesterday I was browsing through an online Garden Supply Store - yes it is getting to be that time of year. Common items were typically priced at almost double what I could get them for in our local store. While I got some good ideas, that vendor lost a sale. Prices must be competitive - and if you add shipping and handling, differential is even higher. So, concept of selling locally available items at a higher cost just doesn't make sense. The online entrepreneur is going to have a very difficult time competing with chain stores.
So does that mean that there is no market for an online entrepreneur? No! There must however be a product line that is not normally available in local outlets - in other words a niche market.