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By Terry Dean
Welcome to our show...
Today we are going to be
playing who wants to be an Internet millionaire, except
we are not playing for cash. We are playing to see if you
have the knowledge you need to be a successful entrepreneur
on the web.
Here are your five questions...Let's
see how good you do.
Question #1: Which of
the following characteristics is a requirement for success
online?
a. High IQ
b. College Degree
c. Persistence
d. Money
Question #2: Which of
the following products would be considered a niche market
product suitable for a small business entrepreneur?
a. Toothbrush
b. eBook on Cooking
c. Big Screen TV
d. eBook on Fly Fishing in Arkansas
Question #3: Which of
the below programs is the most popular download of the week?
a. Napster
b. ICQ
c. Internet Explorer
d. RealNetworks Real Player
Question #4: Which one
of these problems is the most common reason people don't
order online?
a. Web Sites were too confusing
b. Pages took too long to load.
c. The prices were too high.
d. They couldn't find what they wanted.
Question #5: How many
sales does the "average" Internet company have
to make to a customer before they break even on that customer?
a. One
b. Two
c. Three
d. Four
Some of those questions
were pretty difficult. Weren't they?
Let's see how you did...
"C" is the answer
to question one.
Persistence is the most
important key to succeeding on the web. Despite what you
might hear, there aren't any real "gurus" online.
The web just isn't that old. Everyone is still learning.
The number one key to succeeding
online is testing everything you can possibly imagine. This
takes persistence.
High IQ's and college degrees
may help in the process (if you have the right information),
but they are not the key to success. Money may help as well,
but for many large companies this just means wasting tons
of money on two million dollar Superbowl ads. Then being
nowhere to be seen 6 months later.
Persistence is the key.
"D" is the answer to question two.
An eBook covering fly fishing
in Arkansas would be considered a niche market product suitable
for a small entrepreneur.
What's the problem with
the other products?
The problem with the big
screen TV and the toothbrush is that they are available
from anywhere. Your prospect would be much more likely to
run down to the local Wal-mart and electronics stores than
to purchase from you. They don't know who you are.
For the Cooking eBook,
it is too broad of a subject. No one wants just a cooking
eBook when there are so many nice beautiful books at the
local store. This may be a potential project though if you
can come up with a more specific topic such as cooking in
France or cooking with red wine from the French.
The key to being noticed
as a small business is to come out with something a little
more unique and highly specific.
If You Chose "B" for number three, you are correct.
ICQ is the most downloaded
program this week as reported by http://www.download.com
All three of the other
programs are top downloads, but ICQ is downloaded 10 times
more than the closest competitor. It has been the most popular
download for years.
ICQ is a program that allows
you to chat and instant message your online contacts. One
of the most popular activities of online users is that of
chat and message boards.
People want to feel like
they belong. They are looking for online communities which
they can belong to.
What does this mean to
your online business? It means that you need to find a way
to create a community at your site using discussion boards,
chat, and other types of interaction with your visitors.
Question Four is a close race, but the answer is "B"
According to a survey taken
by Boston Consulting Group, the most likely reason people
didn't purchase from a site is because the pages took too
long to load.
The full article and results
of this survey are available at: http://www.roibot.com/w.cgi?R249_CNN
Forty-eight percent of
people asked cited slow loading pages as the culprit in
their shopping experience.
A close second is that
of the sites being too confusing which rang in at forty-five
percent.
Both of these show that
a major key to sales on the Internet is keeping it simple
and easy for your users. They are impatient and they are
quickly confused by any extra technology you decide to use.
You need to create an easy
to use, quick loading buying experience for your visitor.
For now, cut out any fancy technology and "cool"
stuff that may hinder those two items.
If you chose "C" for number five, you are correct.
This was a very difficult
question. The correct answer as provided by Yahoo news is
that the average Internet retailer must make three sales
to a customer before they break even on the cost of obtaining
that customer.
This Yahoo article can
be seen at:http://www.roibot.com/w.cgi?R249_YAH
I don't recommend you spend
as much to obtain a new customer as large online retailers
do. You can't afford to. You don't have their large advertising
budgets to burn through.
You can concentrate on
your current customers. You have to "Wow" them
and keep them buying from you instead of your competitors.
Every single market will
be competitive in the future of the Internet. The companies
that are going to be the most successful are those who learn
how to retain their customers through better customer service,
frequent buyers programs, and finding them the best deals
possible.
You must develop a loyal
customer base and sell to it over and over again.
One shot sales aren't going
to make it in the future of the Internet.
And that's my final answer...
Terry Dean, a 5 year veteran
of Internet marketing, will Take You By The Hand and Show
You Exact Results of All the Internet Marketing Techniques
he tests and Uses Every Single Month" Click here to
Find Out More:
http://www.alphabizweb.com/netbreakthroughs.html
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