Welcome to Market Research the second part of the 5 part ecourse on Local Businesses Marketing.
No matter how effective your services are or how great your products are, if you are not targeting hungry markets,
if you are not finding hungry buyers, you stand little chance of achieving the goals you may be striving for.
Remember, the single goal of this mini
course is to show you how you can easily apply your internet marketing skills to helping local businesses to be more
effective online. As a result, you can make a substantial and regular monthly income
If you want to make the most effective use of your time and energy helping local businesses get online, start with smart
market research. Instead of guessing which businesses spend big ad dollars, or pounds or euros,
- Go to the Yellow Pages or
- A local business directory that has display ads or
- Check every major local newspaper that has display ads or
Start at the beginning and go through the listings. When you find a niche that has full-page or very large display ads,
make a note of it. Continue searching until you reach the end, or find more than enough potential niches.
In most cases, this market research will reveal that there are "rich-niche" businesses and professions that
advertise on a regular basis:
- Contractors
- Dentists
- Doctors
- Insurance
- Hotel Chains
- Major Stores
- Lawyers
- Real Estate
These businesses and professionals make large sums of money on each new customer or client they get. Spending thousands
of dollars every month to advertise is just a fraction of what they receive in profits. You can be the one that gives them
great value for their advertising spending.
Most business owners complain that 50% of their advertising budget is wasted. They just don't know which 50%! You know,
from experience, about adding Google Analytics, Stat Counter or any of the other third party services for these statistics.
You'll be able to prove (and show) a prospect where their potential business is coming from, what they do when they view a
Web page and where they leave (exit).
No Yellow Pages book, no newspaper can do that! Instead of guessing whether or not a given display ad is performing well,
a customer of yours who has a Web page will have measurable statistics to rely upon. These statistics can also
provide valuable market research for the client. No Yellow Pages book can do that either!
For you, the skilled marketer, the results you get from your exploration and market research of advertising
listings is just the start. You'll have to "weed out" all the retail-oriented display ads like restaurants and other
businesses that are working on a small profit margin. Just because a restaurant has a full-page menu, that doesn't mean
they're making a big profit. They're just up there because their competition has a menu, too!
Take the final results of your searches and organize them into categories that will simplify the next step in your
market research. Put all contractors as sub-listings under the more general term "contractors". That way, when you
take the next step and search for them in Google, you'll be able to just run through the list one word at a time, like this:
1. Contractors building
2. Contractors concrete
3. Contractors drywall
And so on…
In case you have any questions in your mind if this is a good way to find hungry ad buyers, call your Yellow Pages
or local newspaper advertising department and ask for the cost of all the display ads they offer. Be shocked! Ask them if
you can get a discount on the "rate card" they quote you.
Then you'll know for sure that this is probably the most powerful source of market research for hungry advertisers in
your local area!
The second step (third part) of the Local Businesses Marketing course is Finding Niches Where There Is No Competition and
will be with you tomorrow.
To your success
Andrew Gowans
Your Affiliate Coach
La Perla de Sta. Maria, C1
Avda. de Espana, Elviria
Marbella, 29604, Spain
P.S.
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business owners to get their own website up and running (and
easily rake in fantastic sales figures in the process ?
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Apart from this article on Market Research, there are a number of other marketing articles to help you
determine which strategies and tactics are suited to you and your online business.
Go back to Your Affiliate Coach Home Page and select
the article series you need the most.
