Marketing Study Outline—What you need to know
In order to be able to conduct a decent targeting and marketing campaign, you must first understand the fundamentals of finding out who they are. They only way to do this is to follow a specific guideline for you to follow. Check out the guideline below.
Your Objective to the Research
- Explain in one paragraph why the research is being done, what you hope to learn and for what purpose the information that you attain may be used.
Description of the Market
This should be general like one paragraph
Who is your Target Market(s)
- Why you chose this particular market
- Get a complete profile of your market (e.g., demographics, psychographics, behaviors)
- What benefits does your market seek (i.e., what points-of-pain or problems are being solved)
- What factors can affect their decision to purchase or use your product/service
- What attitudes do they have about the products/services that are currently not on the market
- How is the product used
- Products and Services that appeal to the target market
- In general terms, what is currently so appealing to this market
- If there are no current providers, what types of products/services may appeal to this market in the future (i.e., what is used now to solve the problem).
Get many Size estimates (current and future) for all of the following:
- Overall market
- Current size as it stands
- Potential size for the future
- Actual penetration of current products/service within the entire market
Individual market segments
- Current size
- Potential size
- Actual penetration of current products/service within the total market
- Usage rates
- Frequency of product purchases
- Growth estimates (current and in the future) for:
- Overall market
- Individual market segments
You must include a Summary of who your Current Competitors are
Listing the competition by market share ranking (by each target market if possible) is a good way to size them up. You can also be more specific by searching for individual points listed below.
Current Competitors – full analysis of top competitors including:
- Products & Services (e.g., description, uniqueness, pricing, etc.)
- Their Market share at current
- Current customers (targeted audience)
- Positioning and promotion strategies
- Recent news
SWOT Analysis – Strengths, Weaknesses, Opportunities & Threats
It is extremely important to focus attention on the SWOT section of this report. While most other information in this report can be gleaned from company and secondary materials, much of what appears in the SWOT section is based on the researcher’s own opinions of the competitor based on the information that is collected. Consequently, this is often one of the hardest areas of the report to write as well.
Potential Competitors (any competition in the future)
- You will need to get an explanation (though it need not be as detailed as Current Competitors) on who they are or maybe and why they are seen as potential competitors
- Extraneous Variables
- Discuss factors that may affect this market (e.g., technological, social, governmental, competitive, etc.)
- Market Trends and what is expected to happen in the future
If you can follow these basic tips for finding and selecting your target market, you should be ready to search online and check out the competition and their rankings in the search engines. Below are some general guidelines for you to follow in creating your competitive analysis which is the most important factor in being an affiliate marketer. Knowing your competition just as well as your audience is the key point which is going to keep you on top of the competition.
How To Find The Best Affiliate Programs
The best way to try to explain this to you is to give you some of my personal experiences when looking for an affiliation program.
“When I first started searching for and implementing affiliations with various companies; it was one of the largest parts of time wasted during my day when it came to managing my website. I spent a disgusting amount of hours searching for suitable affiliate programs, implementing the links and then keeping track of what they did”.
If you are hoping that marketing a website affiliation is going to get you rich quickly, forget about it. You will have to spend a lot of time in your project if you want to make it work for you. Then again, all money making ventures do, just ask Donald Trump.
“Of course, the income that was generated from each program was actually pretty low at that time because at that time the number of visitors to my site was not high either. With this in mind, it was not particularly uncommon for companies to disappear on me without warning me about it and since most affiliate programs only pay out at around the $25 mark, I would lose a lot of revenue in the end.
The other part of affiliation that I was not happy with was the idea of another companies banner’s being plastered all over my site, if you place too many of them on any given page it only serves to confuse and irritate your visitors. think about it; how do you like it when you visit a site. Any more than one animated element on a web page can be very distracting which leaves you with nothing gained at all, and many affiliate programs insist upon this type of bargain when signing on. By now, you must realize that I learned a lot just by trial and error.
Affiliate tracking can also a problem. After you have successfully applied to become an affiliate for a company, they will usually supply you with some personalized code or link. It is very important that this code is implemented correctly into your page; because otherwise you may be sending the company visitors without being reimbursed. Most snippets of code contain a unique user id; which is used by the company to distinguish which site sent traffic. Even if you do implement this code in the right way, it has been my experience on occasion for it not to function correctly”.
Having heard of my experiences, you can see why I would not really recommend that you hunt around and sign up without much research and thought first when finding a good affiliate program. Your time is too valuable and could be better spent creating content and updating your site. But there are some excellent individual companies offering affiliate programs out there.
What I have discovered to be very successful is to take advantage of companies like Offers Quest or Google for text link advertising. Text links are a great resource as they are bandwidth friendly, and when they are implemented properly add valuable content to your site which can also assist in search engine rankings.
When it comes to website affiliation, you will also need to know how to conduct a market study because this is how you will find your target audience. Without a targeted audience, your marketing campaign will not be effective. Below I have begun to give you an outline of what you should include in your market study. It is best to write it down; especially if you are hoping to entice someone else into investing in your marketing venture. That and it is a good way to keep track of your objective and provides a good guideline of what needs to be done.
The Fundamentals of Website Affiliation
As you can imagine from the previous article that spends a great of time focusing on the basics of internet marketing, you must realize that it was all just an informed lead in to the affiliation, which is the whole reason that we are here. The first thing that you have to think about when getting into the affiliation game is how to go about it. In order to understand this, you will need to know exactly what it is and get basic knowledge about it.
Affiliate programs are an excellent way to generate income for your site or someone else’s, and it is a pretty good introduction into ecommerce, however but it’s a numbers game. Basically, the more people who visit your site, the greater your chances become for creating a good income, especially if the programs you participate in are related to your site topic. Chances are you have probably come across many commercial sites that claim to offer the best affiliate program. What you will often learn is that this is simply not true.
So what exactly is an affiliate program, you might ask? An affiliate program is where a company offers to pay you a certain amount of money for either a click through from your site, or a fixed amount for a lead (where the visitor signs up for a newsletter, etc.) or a percentage of a purchase made by a visitor as a result of a click through. Even if the visitor does not make a purchase on the advertiser’s site right away, most programs will offer “cookie duration” of usually around 30-90 days.
What this really means is that as long as the visitor has the cookie in their cache; even if they return to the advertisers site one month later, you will still receive the commission from the sale however, as in all things that are business related, cookie duration is not a guarantee when you sign up for an affiliation program and is something that you need to check for before signing on.
The Power of Internet Business
If you currently own a business or are thinking of starting one up, chances are, you are going to need some information about how to get the word out about your product or service. That is when you need to think about marketing and building a marketing strategy.
With the World Wide Web being the major source of information sharing and communications in the world, it is natural that you would want to use this as a major focus for building your marketing strategy. That is what this e-book is for; to teach you how to become a major player in the field of business that you choose by taking advantage of the internet and using affiliation as your marketing strategy’s foundation.
Of course, before I can show you how to become a master affiliate, I think it would be best to begin with a basic introduction to marketing in general. So in this introduction to becoming a master affiliate, I will give you a basic explanation into marketing because this will help you to better understand how an affiliation can be done with expert precision.
Most people are aware of what marketing is, but most do not realize everything that is involved in marketing. Marketing is not a temporary thing. Marketing is more than sales. Marketing is actually an entire process of activities that is used to:
Get your potential customer’s attention
Motivate them to buy
Get them to actually buy
Get them to keep buying
Marketing is how you define your product, promote your product, distribute your product, and to maintain a relationship with your customers. All of this is important if you want to run a successful business. When you become an affiliate, you are just gaining access to a world of customers instead of just being available for a local customer base. It simply allows you to reach millions of potential customers instead of hundreds. With this kind of potential, is it a wonder that so many people are relying on the web as their marketing hub.
In order to get the consumer’s attention, you will need to know who they are and where they are. When you use affiliation, you can cut some of that work in half. When you are an affiliate, a lot of your customers will find you. This is a business feat that is just too good to be true, and if you know what you are doing, the benefits are simply awesome!
If you are looking to make money online, then you should certainly think about affiliate marketing. This is arguably the best and easiest way to be able to sell something online because it requires very little work on your part.
People will create the product and your job is to simply sell it. You will be the creators sales person and you will get a good percentage from the purchase. A lot of affiliate marketers will give about 50% and this is a great way to make extra money online.
The nice thing about these affiliate programs is that the products simply sell themselves. All you have to do is find the customers and try to get them to buy the product. In order to do this, you will need to find a way to present the product and to help convince them to buy it. Whether it is through a blog, video or an article, you will need to find a way to get some leads and to convert them into buyers.
A good place to start that will not take time to develop is simply your Facebook page. You will have plenty of prospective buyers and you simply just need to introduce the product to them. However, you will need to be careful with this because you do not want to be too pushy. A lot of people hate advertisements on Facebook and so you will need to do it in a subtle way.
If you are able to find a way to get more people to buy your affiliate product, then you will be one step closer towards making money online.
Whether it is a weight loss program, a make money online program or any other affiliate product out there, it will solely be up to your marketing efforts to make the sale.