Menu Close

Easy Ways Online Marketing Strategy Examples

You have an idea, but the idea alone won’t get you very far. Just because you think it’s good doesn’t mean that it will have an audience. In that vein, research is extremely important when making sure that you are not throwing good money after bad.

Here are some tips for researching your ideas.

How to Research to see if your Product is Profitable

Businesses fail for many reasons. One reason is probably that the ideas didn’t fly. There wasn’t a market for the idea within the current niche, the marketing was off, or the product didn’t promise what it was said to deliver. These are only a few, but whatever the cause, it means lost money for your business and a painful blow for you personally. Hopefully, this can be avoided with the information we can provide here.

Research is Step One

It all begins with asking the right questions. The answers direct your research. 

Here are a few questions:

  • What is the product that you want to create?
  • Who is the target market specifically?
  • Are there other products similar to mine already on the market?
  • How are they selling?
  • Can your product stand the test of time?
  • Who is the competition?
  • What price can be set for this product?

Digital products do require some work on the front end to get them from start to finish. Depending on the format for this product, it is wise to research the “how to” and “where for” of using this technology effectively for your needs. There are different software tools available, and some are easier to use than others. Because you know your needs, one item may appeal more than another. Then, learn how to use it.

Refine your target market. Appealing to everyone is not the way to go. Stick with one segment of the market and see if there is a profit to be made. Poll your current audience to see what they think about a product of this nature. Google some keywords that are specific to your product. Analyze the keyword results by clicking on the top search results and the ads on the side that come up with the results. 

Those ads on the side represent some products that are currently available within your niche. Click through to the ads and see what is being offered. Research the companies to see what is being said about them online and offline. Examining trends can give insight into where the niche is going. Does your idea fit with the trends? If so, it may stand a good chance of surviving the changing winds of customer and industry opinion.

Several research tools help you analyze data. Use them to gauge keyword viability just like you would for your website. 

Research can save a ton of heartache and dollars further down the road for your digital product creation.

Monetization Ideas for your Information Products

Information products are big business, even if you own a brick-and-mortar shop. Digital products can be bought and sold easily so that the buyer doesn’t have to wait weeks or pay extra for quicker delivery. If you are looking to make money with these types of offerings, here are a few ideas to do so.

How will you get people to buy from you? It’s the same question that those who sell a physical product ask. Think about going into a grocery store. There are products you buy regularly and those that are unfamiliar. Try them but don’t know how they taste. Chances are you might not buy them unless they are on sale.

One solution is for the store to offer you incentives. A Buy One, Get One Free offer might entice you to try a certain product. Another option is taste testing. Stores that have booths set up to allow customers to try certain foods provide that incentive. You get a free sample with no obligation to buy. If it’s good, you might consider it. A coupon often accompanies this free tasting to sweeten the deal.

The same model works online. Free digital products of excellent quality are offered in exchange for opt-ins or as contest prizes. Some are tied to further offers to buy at a discounted price. But what comes after that? 

Monetization Ideas for your Information Products

Leverage the product in question: That free product might have been a special report. The information in that report can be added to and turned into an eBook. It could then spawn a workbook, instructional videos, audio guides with transcripts, webinars, and more. It will take time to create the new products, but the ideas are already thought out. 

  • Membership site: Do you have an idea that can help a lot of people? Create a membership program. Certain information can be received free just for signing up, but payment is needed to gain access to other digital products that are considered “premium.” Products can be uploaded automatically to the site for access when a paying member logs in.
  • Ads: Increase visibility with ads on Google search pages that promote your website and your digital products. Ads do cost, but you set the parameters for the ads so an advertising budget can be set.
  • Email marketing campaign: These still work and well if you have a good relationship with your list. Offer useful information in combination with deals for further purchase of products.

Even if you have one information product created, it can fuel further monetization ideas for your business.

Things to Consider when Creating Products for your Target Market

So you have a business. Well, the goal of any business is to see it grow and grow and grow some more. Consider digital products. They have many advantages for both online and offline business owners. Before you complete any plans, here are a few points to think about as it pertains to breaking into the digital market.

When people hear “digital,” they automatically think “easy.” Just so you can start on the right foot with this type of project, “digital” and “easy” are not synonymous. Just because the product isn’t physical, per se, doesn’t mean that the invention of it is any less labor-intensive than a physical one.

A Few Advantages of Digital Products

Here is a highlight of the usefulness of digital products and how they can benefit your business.

Low overhead costs

Unlike physical products, you must complete most of the process with digital offerings. There are a new set of rules, so the learning curve is steep at first. The outlay of cash is lower to get you started.

Faster delivery

Just like Amazon always reports with its eBooks, you can have it in your hot little hands in less than 60 seconds. With a few clicks, your customer will receive your product right away.

Increased profits

This can be true, but it depends on your marketing and the quality of your products. With the lower costs upfront, more of the revenue will be profit.

Reality

Many people overlook this point. Just because you create a presence online (you already know this if you have a blog or a website) doesn’t mean that people will flock to you and buy your product. It takes work on the front end to sit back and reap profit as “passive income.” 

Do your homework first

The inclination is to create the burning product to get out of your brain and then look for a market to sell it to. That way of doing things doesn’t always end well. Determine your market first and then tailor the product to speak directly to them. Trying to please everyone will mean no one will purchase your product.

  • Is there an audience for this product? – It may be a great idea but not one that you can sell right now. The truth of the matter is that if no one is interested in an eBook on creating a desert garden, the profit will be small despite how well-written the product is.

Nuts and bolts

How will you get the product to your audience? Employing a reliable payment and delivery system is the key to customer satisfaction.

  • Can you make good on your promise? – Before you can create the product, certain tools are necessary. Do you have a program for capturing and editing audio or video? Assemble your arsenal, and then let loose.

Good information products never get noticed without the right audience.

Easy Ways Online Marketing Strategy Examples

Easy Ways Online Marketing Strategy Examples

error: Content is protected !!