10 Market Analysis Tips And Strategies For Your Online Business!

Why Should You Do A Market Analysis And What Are The Components Of A Thorough Market Analysis ?

Market Analysis

First, What is the definition of a market analysis ?

According to Wikipedia: A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis.

The market analysis is also known as a documented investigation of a market that is used to inform a firm’s planning activities, particularly around decisions of inventory, purchase, work force expansion/contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company. Read more…

So why is it so important to do a market analysis ?

Well, The fact is that those who don’t, 95% of them fail and out of those 5% only 1% make it past 5 years in business. On the other hand, those who have done a thorough market analysis enjoy greater success with less surprises or obstacles to stop progress.

A smart marketer always analyzes their entire business plan and market to strategically target the right market with precision and surgical marketing strategies to a market in demand.

Idea Plan Action

Here are some areas you need to consider when doing a market analysis:

  1. Market Size – The market size is defined through the market volume and the market potential. The market volume exhibits the totality of all realized sales volume of a special market. By placing your search in quotes in the Google search box it will give you specific amount of volume of market size. How do you find your market size ? You can use a popular free tool Google Keyword Planner. It will provide you with enough data to make an intelligent decision.
  2. Market Trends – Market trends are the upward or downward movement of a market, during a period of time. The market size is more difficult to estimate if one is starting with something completely new. In this case, you will have to derive the figures from the number of potential customers, or customer segments.

Here is a screenshot of a Google Trends market trends and related data to understand your market and how active it might be.

Google Trends Related Searches updated everyday with new data, it’s an excellent tool to include into your market research. You can do a personal search using their data base of specific market you are after.

As an entrepreneur it is your duty to stay up to date with markets and how it affects your business.

4. Market Growth Rate – A simple means of forecasting the market growth rate is to extrapolate historical data into the future. While this method may provide a first-order estimate, it does not predict important turning points. A better method is to study market trends and sales growth in complementary products. Such drivers serve as leading indicators that are more accurate than simply extrapolating historical data. Read more about Market Growth Rate…

Market Analysis5. Market Opportunity – A market opportunity product or a service, based on either one technology or several, fulfills the need(s) of a (preferably increasing)market better than the competition and better than substitution-technologies within the given environmental frame (e.g. society, politics, legislation, etc.).

You find your market opportunity by doing a Google search to see how big your market is and is anyone paying for advertising for your niche or product. This indicates that more than likely it is a profitable niche or product.

Study this search for a week or so and see if you see the same product or website advertising daily to confirm this analysis.

Use Google Keyword Planner to see exactly how big your market opportunity is and exactly how many people are searching for your product and learn how competitive your niche or product is. See a search screenshot of Google Keyword Planner on sba.gov/market-analysis and notice all of the data within this quick search.

6. Market Profitability – Is this market profitable and how to find if it is ? Find your competitors websites and go to Ahrefs.com, Alexa.com and SimilarWeb.com and enter your competitors site to analyze your competition. The screenshot above also tells you that there are others paying for advertising which means these search terms are likely to be profitable.

Quick Tip: Part of doing a market analysis is to factor, That if a particular search term or phrase when doing a Google search on your browser it will give you the top ten sites for that specific term or phrase but more importantly if there are several ads on the margin, above or below the search results means that that term or phrase is 99.99% sure it is a profitable market.

7. Industry Cost Structure – How you structure your cost according to your market can determine how competitive your market will be while maintaining a profitable margin. If you are selling a physical product it is important to do a market analysis on what cost structure you should use based on feedback and production costs.

Cost Structure Tip: Industry business standards suggest that it is usually recommended that you have a 40% + margin between cost of production and sales pricing to ensure future growth.

8. Distribution Channels – What channels will you be using in your marketing efforts ? What markets are your competitors using and are they profitable ? By checking sites like Alexa.com you can check your competitors marketing channels and it will immediately tell you marketing data if they are in the top 100K sites.

Today’s Distribution of Digital Marketing:

  1. SEO – Search Engine Optimization, it is the art of optimizing every aspect of your website or blog and I mean everything. Including every single blog post and its entirety, optimizing your images and its size, its alt tags and size, are you structuring your content properly for your audience to digest and more importantly search engines easier to crawl your website plus many other areas I will discuss more in depth SEO specific content. If you enjoy doing SEO and don’t mind doing a lot of market research then SEO will be good for you otherwise you could outsource to a reputable SEO specialist.
  2. Social Media – There are many social media platforms available and here are some of the more popular ones like Facebook, LinkedIn, Twitter and Pinterest. Each social media outlet is different and advise you to read and understand their terms and conditions, their marketing data to make it more targetable and direct to your specific market. Facebook has different paid marketing options depending on what is your goal. Besides complying to Facebook’s marketing terms you must also use a business page in order to use the paid ad platform.
  3. Search Engines Paid Marketing – Search engines like Google, Bing, Yahoo, others and the same applies, each search engine has its own way. Make sure to get familiar with their terms.
  4. Video Marketing – Creating videos and posting them on video marketing channels like YouTube, Vimeo, MetaCafe, Hulu, Vevo, YahooScreens, Daily Motion, Veoh, Flickr, Break and many others available online.

9. Marketing in BusinessBusiness marketing is a marketing practice of individuals or organizations (including commercial businesses, governments and institutions). It allows them to sell products or services to other companies or organizations that resell them, use them in their products or services or use them to support their works. Marketing your business using social media recruiter is a very effective and powerful way to recruit people into your business and get immediate results. Get your free guide…

10. Success Factors – The key success factors are those areas that are necessary in order for your business to achieve its marketing objectives. Re-evaluating your business and its goals should be done to ensure your business profitability.



Related Marketing Articles:

  1. Content Marketing Google And Search Engine Optimization
  2. How To Create A Successful Business By Marketing Online
  3. Marketing Through Videos And Types Of Video Marketing

Pros And Cons Of Doing Business Online

Over a 8+ year period there has been a lot of ups and downs doing business online and we have discovered some amazing strategies and some not so enjoyable lessons most will make when doing business online.

Pros And Cons of Doing Business Online

Doing Business Online

Some will be good at doing some things and others will be good at doing other things. Just remember those tasks you enjoy doing are considered fun and the tasks you don’t particularly like to do you can always outsource. But recommend, you should always know the inner workings of your business as well.

When doing business online it has its pros and cons but it is no different than an off-line or mom and pop store front. You have a product and you need a consumer to purchase the product. Regardless of which two platforms you use, ” Online or Store Front ” to sell your products these two elements remain the same.

Today like any other day stepped into the office to check emails, see what’s new in our market news and usually read two or three articles or so from other business outlets we are subscribed with.

Started reading this article on, ” Beating Algos On Social Media ” on Website Magazine and being an seo guy found it intriguing and had to read more but paused for a second to think about those days when we were running more than 25 sites at one time and thought about all the lessons we learned in the process.

This created some content to write about on the blog. So, we thought we would share some of these pros and cons and lessons we’ve learned in the 8+ years doing business online.

Pros of Doing Business Online –

  • Start Up Costs – The cost of doing business online is substantially less than starting a mom and pop shop but requires the same discipline and focus to run your business.
  • Start-up Time – You can be open for business in as little as a few hours to a few days if your site is more robust. If you want a physical product store online there are softwares like Covert Store where you can use Amazon or Ebay products to sell. ( Requires associate program registration )
  • Your business is open 24/7/365 – Unlike a physical store, an e-commerce offering is open 24 hours a day 7 days a week and 365 days a year, which means you can get sales at any time of the day or night from anywhere in the world from the comfort of your home in your pj’s.
  • Doing Business Online From Anywhere In The World – The beauty of doing business online is that as long as you have an internet connection and a computer you are in business.
  • Targeting Customers & Readers Instantly – Today technology allows us to target your market instantly via Social Media or other popular marketing platforms. The second you press that start your paid promotion or the second you broadcast a post, comment, video or other media you instantly have people reading or watching what you posted.
  • Doing Business Online Doesn’t Require A Website – Contrary to popular believe you really don’t need your own personal website to sell products online. Using social media and other marketing avenues like craigslist make it possible for anyone to sell their products and in many cases its all free to market your product in these platforms. ( But, We Highly Recommend Building Your Own Blog/Website )
  • No Product Creation Required – Doing business online does not require for you to create or build a product because there are thousands of products you can get paid for by sending people to a vendors website to make a purchase. Called ” Affiliate Marketing “, one of the easiest ways to make an extra income online. There are several affiliate networks you can sign up with to get started.

You can read and learn more about these affiliate networks in a recently written article titled, ” Make Money From Home Part Time Without A Product “.

Quick Tip: If using Facebook or Google+ make sure to use a business page so you don’t get your account shut down.

Cons of Doing Business Online –

  • Social Media Engagement – It is challenging to generate business leads, why? Social users may be less inclined to follow or Like a brand if those noted affinities are used more for advertising purposes (i.e., target people who Like this Page) than the organic delivery of relevant – and requested – content.
  • Your business requires constant updating – keeping up with demand and consumers while bringing in new business. Always keep content on your website or blog fresh to build a readership, newsletter subscribers or generate more consumers.
  • Follow-Up – Yep, If you have a list of subscribers to your Newsletter, subscribed to your free eBook or is a consumer of your products you must follow up periodically with them and update them on what is New and Fresh in their market.

Many would say, That is a lot of work and requires you to do things you don’t yet know about. Running an online business has its learning curve but can be learned through advanced training hub like EMP.

Doing business online affords you the privilege of selling products to anyone around the world from the comfort of your home office, sofa, kitchen table or if your to lazy to walk simply doing it from your bedroom.

Quick Tip: We believe that as long as you provide great value and education in your content you will always have an audience for your products. Your products should be congruent with your audiences search term used to arrive on your website or blog to improve your conversions. You should always put yourself in your audiences shoes before putting out great content which a great audience appreciates and in some cases showing there appreciation by purchasing your product (s).

It is a satisfying feeling when your content helps others with an area your reader may need help in or solve a problem your audience might be encountering. Our content is mostly from our journey experiences through the years and because we realize that others might be along the same path we want to shorten their learning curve towards achieving their goals.

It is why we recommend anyone wanting to make a difference in their life, Start Doing Business Online Today! 

Don’t wait for tomorrow, Tomorrow is to late.

Important Tip: Don’t put all your eggs in one basket and diversify and expand your mind, your income and your families future outcome as well. Putting all the eggs in one basket left me 140K in debt and no income one Friday morning (True Story). Learn from my experience and leverage it to skip your learning curve.

Elite Marketing Pro Doing Business Online

In conclusion it is pretty evident that the Pros outweigh the Cons of doing business online but can be a very rewarding adventure. It is still a business and should be treated as one.

USA Jobs Employment Future A Passive Income Online?

USA Jobs Employment in the 21st Century into 22nd Century looks very different as technology giants continue to innovate in Silicon Valley and abroad.

There is a USA Jobs detour straight ahead and you want to make sure you make the right shift to stay informed of what the economic market is signaling and how you could protect yourself from a sudden economic shift.

We have seen the continued decline of usa jobs employment and millions of college educated that are working minimum wage jobs to make ends meet.

passive income

This is where we are headed as I look at the landscape I’ve practiced for years and the market indications of what could be looming going forward.

There will always be less manufacturing jobs due to technology innovation because it is more cost effective and productivity goes up. There is no way around it and it is why I try to stay up to date in what is changing in the industry involved with.

Why Silicon Valley? Because its where most evolved technology, social media platforms, robotics and many others are developed in the USA. And where Big (G) Google has its own development and innovation headquarters and where most of the robotic technology is fast at work changing the way they view the future in a lot of manufacturing, product development, to product delivery.

Anywhere from a robot running through a building distributing and collecting mail and documents to efficiently test and enhance these robots capabilities into more advanced machines like automobile automated assembly lines or street robots directing traffic.

Here is a great article on Reuters.com Impact of job-stealing robots a growing concern at Davos

USA Jobs have dramatically fell in the last 10+ years and finding a job is scarce and more qualified people are in the market without a job. So, What are the alternatives ?


Here are some places found online for USA employment…

USA JOBS – GOVERNMENT WEBSITE – APPLY FOR GOVERNMENT JOBS

VA EMPLOYMENT SERVICES FOR VETERANS

USAJOBS.GOV -> List of Available Jobs in Your area!


One alternative to fewer traditional jobs is making a passive income online by selling other peoples products with a blog or personal website. You can use social media to advertise and find qualified targeted people for your products.

Personally believe that it will take a few years when all of the sudden more gets automated with robots participating in the future changes in applications humans now are employed worldwide.

However, as usa jobs continue to decline there is a huge market in digital information because people are searching more than ever for ways to supplement or replace their income.

I personally been aware of the state of usa jobs and jobs abroad the entire world since the 90’s when I seen automation first hand and immediately seen the writing on the wall.

It was pretty clear and a sobering moment at the same time. I would talk to others to find out if they see the same as me. Amazingly most were oblivious to their surroundings.

I think I stared at this machine reading bar codes and separating packages or mail trays to go to a designated place where they are collected and ready to be shipped out.

Then one day I walked into a Veterans Administration building where they had a robot navigating the halls and travel the entire building delivering and collecting mail or files that needed to go to other departments.

At this point I new without a doubt that things are changing rapidly and automation is approaching most aspects of society.

Here is an article I found while doing some research for this article, ” Case Study, Who is slipping through the unemployment cracks ? ”

Indeed, the researchers behind the study pooled government data and ultimately found that 37.2 percent of American adults – and 18.7 percent of prime-aged working adults between the ages of 25 and 54 – were not in the workforce as of 2016. That amounts to 38 million men and 56 million women across the country who are neither working nor looking for a job. By Andrew Soergel, Economy Reporter Aug. 18, 2017, at 2:05 p.m. on USNews.com

As I mentioned previously you have an opportunity to learn how to start your passive income online in your spare time without interfering with your current job or business and you can do it if you only devote 2 hours a day starting out until you have everything in place.

A great place to start would be asking yourself, What are you passionate about ?

The reason is simple, You will never work a day in your life if you are passionate about what your business is about and find it fun to show up day in day out.

One of the reasons why I enjoy the education space. I get to help others by educating them and providing high value products people need and use in their business.

Elite Marketing Pro is a system I use to improve my business and educate myself about marketing strategies as the world of marketing and search engines continue to change.

Its a complete system that anyone can get started regardless of experience. You don’t need a website or even create your own product. You have step by step video guides that show you over the shoulders an how to get everything set up and launch your first online business.

It is important to stay at the pulse of your business, your market and trending topics to continue to increase business, increase leads, subscribers and consumers of your products giving them a solution.


Read other related and helpful articles covering different aspects of creating a passive income online and starting your own online business…

Make Money From Home Part Time Without A Product

Make Money Writing Articles – What You Need ?

How To Make Money Blogging ?

Make Money From Home Part Time Without A Product

You could make money from home part time if you know how to find a great product that people are searching for online. There are several ways to turn this into reality and I want to discuss a few ways you could get started immediately which are proven to work.

Work From Home Part Time

Times are very tough in today’s world and part time jobs are hardly available to make an income or even less full time jobs.

In the last few years, making money online has become a very popular way to make money from home part time after getting home from their 9 to 5 and everyone is asleep to put in two hours at minimum every day when first starting out. Most times it is hard to make more money from home working two or three jobs and your exhausted, I know I’ve been there.

Maybe your fortunate to have a comfortable income and the future looks bleak with no light at the end of the tunnel. Either way creating a side Gig is an honest way to have a safety-net in case and when ” it rains it pours ” kind of days.

A few years ago I got caught in one of those rain storms except I didn’t have a safety-net to fall back on and was a pretty ugly outcome and it is why I share this information with you so you don’t get caught in one of those rain storms, if you know what I mean.

Now there are more opportunities online for a way to earn an extra income and help others do the same. Not only that but you will give others the tools to help their business as well and you get to keep up to 100% of the profits.

After being online for a few years blogging and sharing my knowledge with others online I have invested in my knowledge and have pushed my limits to learn from others that have been in the game longer than I have and can learn from skipping the learning curb.

Once getting results with one business model online went and started a second business model that I would like to share with you if you want to build a new business or improve your current business.

First, If you want to learn how to build a business or take an existing business to new heights you need a system, a coach and/or a guide that not only holds you accountable but cuts your learning curb exponentially to getting results.

It should be a business model that has been proven, it’s effective and gets results. This might sound difficult for some to understand if they have been scammed online but this is a paint by numbers type of business training system that even for a novice and even more for advanced marketers or current business owners.

It is that powerful of a system and we should know because we have applied this system using affiliate marketing and have gotten great results and looking forward to what’s coming ahead.

Elite Marketing Pro has been providing education and helping people start their very first online business to helping even experienced entrepreneurs with years of experience and business owners build and sustain a profitable make money from home part time gig and even a full-time income.

Affiliate Marketing

If you’ve never done anything online before that’s ok, if you’ve struggled trying to do affiliate marketing, mlm or network marketing this is for you as well.

Some know this kind of online business to be ” Affiliate Marketing ” which is essentially true and a very clever way big companies like Walmart, Amazon, CVS Pharmacy, Home Depot and private individuals have mastered this method of making huge profits with affiliate marketing.

Most people don’t even know this or aren’t aware that these stores that they walk into every day are affiliate marketing stores with physical products of whom are mostly made by other manufacturers, other countries and/or companies who built these products.

Yes, every company that sells products is doing affiliate marketing because most of those products were made or built by someone else and vendors line up to sell in these platforms because they have hundreds of thousands of people coming to their websites or stores to purchase products every minute of the day from all over the world from companies like Amazon to Walmart and others.

You see, affiliate marketing is when you sell someone else’s product and get paid a commission for doing so and the best part is that it is available to anyone who wants to make money from home part time or even full-time.

But, lets get one thing straight before you start jumping in the middle of the ocean before learning how to swim. If you want to do it the easy way you could follow the education system we’ve used to improve our skill-sets and build our online income.

I know the ten thousand penny question, Does It Work ?

With just a blog alone without any paid marketing but simply only using social media, bookmarking sites and increase of readership thanks to Google and other search engines rewarding our blog with free targeted traffic searching for the content and tips shared through our blog. We have helped many find a solution to a specific problem we had the answer to.

You can also just build pages for each product giving away a free ebook, report or guide related to peoples searches and when they opt-in to get the free report they are automatically sent to a page where they will have an opportunity to purchase a relevant product you would like to sell that is ( CONGRUENT ) with what they SIGNED UP for in the FIRST PLACE.

This is extremely important to keep in mind when creating your capture pages, your funnels or your Opt-In Forms, all must be congruent. It took us a while to learn this strategy and when it was all done congruently we instantly noticed the positive results.

These are laser targeted people who you already know they like the product because they opted in to get a free report, ebook or guide which is directly related or congruent with a product offer you could send them in future emails or you could send them an email getting them to visit your blog to read about a product review on your blog.

Congruency is key here, you don’t want to try to sell a them a book on making pottery when they are searching for a guide on how to plant their vegetable garden, Right!

So where do you find a system and products to sell online and create your ” make money from home part time business ” ?

Use The Affiliate Marketing Training System Inside Elite Marketing Pro Training & Tools!

Educational products that help you learn while building your online business with Elite Marketing Pro. These educational products include:

  • How to build your affiliate business from scratch.
  • How to market your business.
  • How to use Social Media to build and scale your business.
  • Other advanced marketing strategies.
  • How to build a huge list of subscribers, readers and buyers
  • Continue’d education live every week and more…

Or You Could –

Use affiliate networks make money from home part time with thousands of product creators selling their products or should I say the affiliate marketers selling the products. Here are a few places you can sign up for completely free.

Affiliate Marketing Clickbank


 

Shareasale Affiliate Marketing


JVZoo Affiliate Marketing


  • Amazon.com – Physical products. Simply give people your product link and when they buy you get paid. No need to store products, take care of inventory or payment processing and product fulfillment. Join Amazon Associates

Amazon Affiliate Marketing Program

Join Amazon Associate Program


The bottom line is that as long as you have a computer and internet connection you can run a business from anywhere in the world. It is one of the reasons why it has become a popular way of how average people make money from home part time without a product and generating an income online.

Warning: Don’t attempt to do it all on your own because there is a long learning curve which means it will affect your bottom line. Work smart and use a training portal that shows you how to put it all together like Elite Marketing Pro.

Marketing With Serpstat Keyword Site Analyzer Tool

SerpstatThere are many ways of doing online marketing digital or business marketing, here are a few you might have tried or might be interested in learning more about:

  • Facebook marketing ( Fan Page and Ads )
  • Google Plus Marketing ( Groups )
  • Email Marketing
  • Instagram
  • Twitter
  • LinkedIn
  • Pinterest
  • StumbleUpon
  • Youtube
  • SEO Online Marketing

Elite marketing pro provides guidance in implementing better marketing strategies and getting better results.

The marketing world is constantly changing and if your an active business owner then it is exceptionally important to continue to self-improve your skills to create more value and improve results.

Business professionals embrace great business tools that save time and money for the company and changes as long a it is congruent with company goals and visions plus keep up with changes in the market.

It is still relevant to any business online that marketing plays a big roll even when not paying for traffic rather putting in some sweat equity by doing it yourself. It is a great sense of gratitude and enjoyment when you enrich other people’s lives with your knowledge or discoveries made along the way.

But in order to get to this goal there is some ground work to do like, you need a marketing plan that will guide you through the obstacles found along the way.

You can start with the end goal in mind which could be to make $250,000 this year. All you have to do now is reverse engineer this into smaller bites. Divided into monthly increments then into how many sales at a specific, this way you’ll know exactly how many products or services do you have to provide in order to make your goal.

Another thing you could do is find out how big of a market you have that is searching for what you have. A keyword research tool is worth its weight in gold because it provides all the data necessary to make an informed decision instead of throwing stuff on the wall hoping something would stick, Right ?

There are several free and paid keyword tools that do more than just provide keyword information but also can analyze your website or blog to help you keep and efficient and streamlined site that the likes of Google, Bing, Yahoo, Baidu and other search engines love to reward you with quality organic traffic as long as you abide by the rules of course.

One popular free keyword tool is Google Keyword Planner. Since Google has 67% of the market it would be wise to hear what Google has to say in terms of marketing your business, your website or blog content, your ads and your social media unless you are on Facebook.

Because FB has its own search engine within for marketers with all peoples behaviors, intents, purchasing’s, personal data and more to laser target your market with paid ads.

Google Keyword Planner is still a great free tool I still personally use but since I started using serpstat.com because it allows you to narrow down exactly what your competitors are doing that is benefiting them online. Having this data is very powerful plus empowers you to invest in marketing strategies more wisely and more targeted.

One great keyword tool I use Serpstat.com. This tool I learned about while working on a big project I had recently undertook and helped me analyze clients websites to give me information necessary to improve their business and presence online.

Here below is a snapshot of part of the intel you get when doing a website analysis. how to marketing analytics provided in video tutorials and easy to follow details.

Below you’ll see backlinks to website analyzed, your website trust online, where backlinks are coming from and which you’ve lost as well, rank distribution you can explore more keywords you rank for you might not even know if you’ve written a lot of content on your site.

Site Audit also gives you the health of the website and areas that need attention from low priority to high priority. These areas you need to take care of immediately and keep as clean as possible.

The Search Engines like Google, Yahoo, Bing, AOL, Yandex and many others will love your site plus your website or blog can experience an increase in traffic as a result.

Here below is a search I did for, Online Business with Serpstat just to see what the market size and difficulty of competition in the search results.

Serpstat Market Research

Below you will see a screenshot of the Content Marketing feature that goes out and find topics related to your keyword search or niche. Either way I did a search for marketing and the first column to the top left has over two thousand phrases being searched under that related term.

At the top of the page when doing content marketing research using keywords or phrases. You will notice this is what people are actually asking into search engines when doing a search.

Search Engine Optimization

This is the same page as above but the bottom half of Serpstat Content Marketing ideas to use in your content.

Search Engine Optimization Content Marketing

Everything seems within a click away to get all the data you need to take your business or clients business to the next level. Everything is well laid out and easy to navigate and easy to understand powerful and amazing data given to you otherwise you would have to dig for hours to do all this manually.

Another great feature I love about Serpstat is ability to run daily, weekly or monthly reports of your website giving you data you could use to mine even more marketing material, keep your site healthy by using data to correct issues or errors so search engines look at your site more favorably improving your site ranking and traffic.

Marketing has become more efficient for me because of Serpstat and keeps my business going steady ahead with less concerns about website performance which is always reassuring.Serpstat

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