Researching the market: What Does the Market Really Want?

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Beginning this year, I was asked to see an e-shop Footballnutra which has been set up to provide the best basketball nutrition products to basketball players of all levels. Your website and the range of products look remarkable. They have thought of every want: nutritional drinks available to always be drunk before, during once playing football; capsules to help you the heart, cartilage and muscle groups; and general daily nutritional requirements, offering essential vitamins, nutrients and omega 3-6-9 as well as glucosamine to help the joints.

But despite the professionalism of the website and the branded products, product sales have been very disappointing. To the point, if the low sales carry on the owner will need to return to full-time employment.

So where has it eliminated wrong? The concept of creating nourishment products for the football marketplace seemed to be ‘a a brainer’, an opportunity too good an order to miss. Football is the country’s number 1 sport and passion. Based on FIFA, there are 4, eight hundred fifty, 569 football players in Great Britain. England has 4, 164, 110 players, Scotland offers 420, 589, Wales offers 173, 550 and North Ireland has 92, 320. With these combined totals, the united kingdom has the 12th largest populace of football players on the planet.

Surely, the interest of the nation in football would lead to a demand for football products? However, Google’s search results present some surprisingly low regarding bespoke football supplements. Only 36 people type ‘football supplements’ into Google a month, less than 10 people seek out ‘protein shakes for basketball players’ and 36 monthly searches for ‘nutrition for football’.

Studies have consistently shown in which vast majority of consumers search online ahead of they buy. If nobody is searching for your products then building a profitable organization in this market is going to be challenging.

An August 2011 PEW Internet Study revealed:

The proportion of Internet users who employ search engines on a typical moment has been steadily rising from about one-third of all people in 2002 to a brand-new high of 59% of all grown-up Internet users.

Design your online business for your user

I always advise that should you want to start an online business you have to design the business around the consumer and satisfy 3 requirements:

What products or services is your target audience looking for?
How competitive may be the market you want to join? Usually, it takes years to compete within a strongly competitive market so you need to aim for low competition.
Have you got enough experience in the market to understand how to meet the needs of your customers?

You don’t need to be a marketing professional or have access to expensive software to see if your idea is definitely viable.

Build a list of often the keywords or phrases that users could use when searching for information about your personal product or service.

Analyse the serp’s. Go to Google’s FREE AdWords keyword tool.

Add each of the key terms into the search field.
Makes use of the advanced options and filter to specify the country
Within match type, click on the ‘exact’ filter to get more relevant effects, and click on the ‘phrase’ should you be searching for a string regarding words such as ‘natural health and fitness supplement’
Review the number of the pursuit of the keywords per month, it is possible to review the results by key phrase ideas or move right to the most relevant ad group concepts
Review the results by regional monthly searches which will be region or town specific instead of the global column

You can go through the top of local once-a-month searches to get the results obtained from the highest number of searches every month to the lowest. Click once more to order from smallest results to highest.
The high, method and low competition grading that you see here appertains to the competition for Pay per click ads which show up at the top as well as the right-hand side of the search results webpage, not the competition to be positioned organically. (This is the free-of-charge listing of websites below). Still, the amount of competition for Ppc can be used as an indication of the commercial intention of a key phrase.
Build up a list of relevant keywords with more than 1000 exact look-ups a month.
Review how reasonably competitive the market is on the search results. These are the websites that might be listed for free by yahoo and google. However, it’s the only site that shows up on the page hands down the search results which generate a major click-through rate (CTR) so ranking on the page just one can be very competitive.

A 2011 Study by Slingshot WEB OPTIMIZATION Reveals Click-through Rates to your advantage Rankings:

The number one position with Google’s search results receives 17. 2% of all click-through targeted visitors.
The second position receives 15. 1%, the third 7. 2%, the fourth 4. 8%, all the things others are under 2%.
The whole average CTR for 1st ten results was fifty-two. 32% for Google and also 26. 32% for Msn.
There are many keyword research equipment available to help you to analyse your competition (we’ll review some of these inside a later issue) but one of many quickest ways is to get SEOquake to your Google Chrome as well as Firefox browser.

Once you have performed this you can add each of the key terms from the list you designed in stage 2 into your Google search bar. You will currently be shown the top 15 search results with additional information.

You will get a very good idea of how reasonably competitive the keyword is by going over just two criteria:

Often the Google PR rate. That is a page ranking status given by Yahoo or google and determined by the number of inbound links, content relevancy and how significantly they value the quality of your website or page based on several different algorithms. If you search for ‘car insurance, you will see each site on page 1 has a PAGE RANK ranking of 6’s and also 5’s.

The higher the PAGE RANK ranking the more competitive industry. You don’t want to try competing in this keyword! Type in ‘football nutrition and you will see websites together with mostly 1 and 2’s and a couple of PR 3’s. If there were enough consumers searching for the product then this will be a great market as the levels of competition is weak. Initially, begin focusing start up an online business in a not competitive marketplace.

Review the number of websites listed on page 1 that have the ‘keyword’ from the title tag and brief description. This can be seen above and under the domain or page WEBSITE. If you look at ‘car insurance’ all over again you will see that every website shown has car insurance in its headline tag and description. That shows competitors who are decided on rank for this keyword. Nevertheless, if you look at ‘football nutrition’, you will observe that some of the websites on page 1 results tend to be not even trying to compete in this market.

I would advise any person thinking of setting up an online business to evaluate that there are at least 1000 specific searches per month for between six to seven related keywords and phrases and that at least a few of the websites on the google search on page 1 have a PAGE RANK value between 0-3. This could be a good market to enter.

Enthusiasm and experience in your market are not always necessary but they will assist enormously to understand and get to your target market. Whilst Yahoo and google send over 90% of the traffic worldwide it is easy to come to be preoccupied with satisfying Google’s algorithms when building a web-based business. However, your most important main concern is to build an online business that will satisfy the wants of your users and convert these individuals into customers.

Read also: Small company Accounting 101

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