Internet Marketing School

Market Research in Internet Marketing is the process of systematically gathering, recording and analyzing data and information about customers, competitors and the market. It is the due diligence required to understand existing trends and identify a suitable online market niche, and helps you in creating your business plan and strategy, finding suitable products and services to market, and identifying other related and complementary markets. Market research is extremely useful in determining the profile of your potential customers profile, based on variables like age, gender, geographical location, level of technical expertise, educational and income level.

Summary

The above process of finding one’s market niche may appear to be quite a daunting task especially to the uninitiated to internet marketing. Regretably, many new internet marketers either give up at this stage, or end up skipping many of the necessary steps above only to realize that the niche they are in is overly competitive and not viable.

Remember that the vast amounts of time and effort spent by you in locating the “CORRECT” market niche is crucial to your success in internet marketing.

The concept of “Inch-wide, Mile-deep” is a mantra frequently chanted by many of the top internet marketing gurus. This is so true - especially since the millions are to be made in the narrow and deep niches, and not in the wide and shallow generic categories (eg. make money online) dominated by the big industry players. A simple rule of thumb is to strive to be a “mini-guru”, and not a “big guru” - at least when you first start!

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