How big is your market? What do people want? Do you even know? When did you last sit down with your customer hat on?
When we all start planning our own businesses, we want to sell what's popular, whether it is a service or a product. As an example, the British public likes Teletubbies, so that is what we decide to sell.
Soon we find there is no money in it - there is a competitor out there who can either source the product cheaper or sell it cheaper and still make money.
So where does that leave you? High and dry is the simple answer so you need to think outside the box.
Would the customer of Teletubbies also be interested in other educational program merchandise? What about board games or posters, or rival characters and properties?
The long tail is all about taking a theme, or niche, and working it through to the very end.
A customer interested in Harry Potter books may also be interested in a science kit. At first glance, it is a tenuous link but you are not going to compete with Amazon and its affiliates by selling the book or the DVD, so why not profit from the ancillary products like the magic kit, the magic wand, or the magic cape?
You can spend your life promoting and selling the popular items on your site but market forces will dictate that you have to sell them at a bigger discount than your competitors and sell a whole lot of them to make a profit because they are so cheap elsewhere.
Seek the long tail in terms of what it is you actually should sell.
I think your buying skills are intrinsically related to what your attitude should be in terms of how you promote the website. Unless you have multi-million dollar backing, there is no point going for the generic market no matter what your field of expertise is.
Turn to the niche market as the riches are in the niches. It may be small by definition but with it comes passion, brand loyalty, and often an obsession that is unequivocal in any other sense.
Look at the obsession with the online games. As a hard cord fan, would you wake up one day and buy from a conglomerate or would you buy through a small website with a community aspect to it that you have been involved with for the past few months? Even if the same product cost you a few dollars more, many will purchase it from the small website with a community and this is the niche market.
Here is a tip for you to do early in your efforts to become an Internet Marketing professional.
Return to your keyword analysis. Were there products, phrases, or sentiments that indicated that you could expand or alter your offering? Don't ignore what the facts are even if it goes against the very reasons you decided to set up your company. This understanding of your keywords and the long tail are necessary to be No 1 on Google.
I Hope You Enjoyed the Article and I Trust You Found It Insightful! Let me Know What You Think.