Factors to Consider When Choosing Your Profitable Market Online

Factors to Consider When Choosing Your Profitable Market Online

Vol. 1

Affinity

We all have affinity groups we joined and admired, just like your market, they also have affinity groups in which they somehow felt the tight belongingness of one another.  If you belong to a certain group in which they are your target market online, this is a great leverage for you because initial trust begins to kick-in.  I’m not saying total trust, but almost there.

What if you don’t have affinity with the group you choose to market online?

There are three stories you can tell your market even if you don’t have the direct affinity to them.

     1st story would be to tell that “ you are not one of them but you know something that they don’t know and your market (which you have direct affinity), is listening to you as the guru, and now you are telling them new and best ways that could improved their lives.

     2nd story would be an endorsement from your chosen market. Get someone and let that person tell the story. This would come out that you’re not bragging your achievement but rather as a social proof that someone is giving a positive testimony that your are what they want.

     3rd story “The Big Secret”. You will tell them you have the “secret formula”. You will tell them what not to do, but not how to do it, you kind of be teasing them, amplifying the emotions they have experienced and paying them your empathy.

Market Pulse

There are four key questions you should answer before you will ever know the heartbeat of the market.

     1st How much do you know about the market?

     2nd How much you don’t know about the market?

     3rd How much you know that your market doesn’t know?

     4 How much you don’t know about the market knows?

Any questions that would pop-up on your mind in terms of there behavior towards selling at them, find those answers before you jump into that market.

Size of the Market

This mean you have to find out the business history of the market looking back up to 30 years of its existence. You can easily find them using SRDS from your local library. Your librarian is your ally.

One way is look out for their trade association magazine publication and try to ask or download there ready available media kit, you can read a lot on insightful idea here on how big are they. Once you have done that, ask yourself, “If I can sell only to the Top 10% of this market, will I gain long-term profits?”

Trends

Basically you want to look here is that .. does the market is growing, shrinking, aging? You want one that's growing and young because it’s easy to nurture.

Top Tip! You can read concise trend reports from big research firm agencies thru there RSS feeds or try to find out press release on a certain trend published by them. This will help you quickly understand on a short paragraph what trend about and at the near future.

To be Continue……