If you’re relying on luck for the success of your online store, I’m sorry to tell you, but, you’re just not building your online store on a very strong foundation. And that, believe it or not, is one of the major reasons why so many new online store start-ups actually fail fairly quickly. Very many people who are new to setting up and operating an online store actually tend to rely a great deal on luck. They just don’t have a firm background in, or knowledge of, the fundamentals of internet marketing. Yet, they build their online store and believe that simply having it on-line and making the major search engines aware of it will result in web traffic and customers, and that’s about all they do. Well… they do that, and, after a while, they also do a lot of wondering about why they aren’t getting any sales.
The reality of it all is that operating a successful online store — or, for that matter, any internet business — requires some measure of skill and know-how regarding at least the basic fundamentals of internet marketing. There are fundamentals of marketing and promotion that you will need to learn and incorporate into the day-to-day running of your online store. If you don’t know these fundamentals, or you don’t employ them in your operations, the likelihood of your online store being successful is really quite small. Relying simply on luck will not overcome this.
The first, and perhaps most important, of these fundamentals that you must learn and take into account is the concept of ‘niche marketing.’ It is imperative that you find a ‘niche’ market that your online store will cater to. If you try to set-up and run an online store that attempts to sell everything to everyone, you’re just not going to be successful. Your competition will just be far too strong. You’ll be competing with the likes of Amazon.Com. And, guess what: You CAN’T compete with the likes of Amazon. They’re too big — too much of a powerhouse. They will crush you. The only way to go head-to-head with a company like Amazon is to have the financial resources at your disposal that Amazon has at theirs. And, of course, you just don’t have that — few people do.
Did you know that for the first twelve months that Amazon was in business they spent an average of around $100.00 in promotion and marketing costs for every, single customer that bought anything at all from them in that first year? That’s one heck of a loss to absorb in order to ensure the future success of the company! Could you compete with that? Could you spend the first entire year of your online store’s existence spending around $100.00 out of your pocket for every person who visited and purchased something from your store? Keeping in mind, of course, that the profit off of each individual sale from each one of those customers is likely to be well less than half that amount? If your answer is no, then you simply can’t compete.
So, how do you get around this? As stated earlier, the key is niche marketing. The trick is to focus and specialize. Don’t try to be all things to all people. Find a market that’s highly specialized — a market that’s small enough that behemoths like Amazon tend not to waste their time with because it’s not large enough to bring in the kinds of returns that will make it worth their efforts, but is nevertheless large enough that it can bring in the kinds of returns that will make marketing to it worth your efforts. That’s the trick.
The somewhat demeaning truth is: You’re small potatoes. You just are. Compared to the giants of internet marketing, like Amazon.Com, BestBuy.Com, eBay.Com, Buy.Com and all the others, you’re small potatoes. You can’t compete with them. You will not compete with them. If you try, they will crush you and you will fail. Your online store will fail. So, don’t compete with them. Instead, find your niche. Find a market that those giants don’t serve very well. Then, concentrate, focus and specialize on that market specifically and become the place to go — the recognized brand — for people interested in the very specific thing you’re selling.
And, as a tip: For a proven ‘blueprint’ to follow in setting up and running a successful on-line store — and for in-depth and detailed information and answers on exactly how to most effectively hunt-down and discover these niche markets that are most likely to result in a successful and profitable online store of your own, check out the on-line store blueprint available at this link. Once you’ve found and settled on your particular niche market, visit and evaluate the services of SaleHoo in order to discover merchandise sources for stocking your on-line store.