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.
In order to help you, I will continue to post (on this blog site) tips and techniques I have obtained and learned from My Go-To-Market Partners as I became an Internet Entrepreneur and built aspenIbiz, my online business, along with my various Web 2.0 properties and affiliate web sites. Together, these tips will provide a traffic formula that will improve your Page Ranking and drive qualified leads to your website.
In closing, be sure to meet me at my website, WhoIsMikeFarrell, read myaspenIBizBlackBox website that has more posts about my Internet Marketing activities, and learn how to be savvy with your money, like the insiders, at aspenIbiz the Conspiracy For Your Money Blog.
Finally, I would like to provide Best Wishes for a Happy Holiday Season and a Prosperous New Year!
Please be sure to share this post with anyone that you think would benefit from this message… thanks!