Having Trouble Making Money? You Might Have A Nasty Case of MCN.
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Copyright 2004 Isaiah Hull Do you spend the majority of your time trying to convince your prospects that they absolutely must buy your product? Are you experiencing low conversion rates and high negative-response rates? Are you starting to feel like Internet marketing success really is just a myth? Do you think everyone is lying to you?These are all symptoms of MCN, marketing in a crowded niche. If you're dealing with them on a regular basis, chances are there are just plain too many people selling a similar product to your same targeted customer base.
But don't worry--this isn't necessarily a bad thing. In fact, realizing this information may be the best thing that ever happens to your business.
But now that you do know you are marketing in an overcrowded niche, you must choose a specific path for your business if you want to achieve profit.
You must decide if you want to a) prepare for a long fight to the top (of your niche); b) market your same product to a different group of buyers; or c) abandon your product, find a profitable niche, and then build a new business around it.
Of course, there are pros and cons to each decision, but as long as you recognize the need to make a decision--and then create a clear, honest business plan to make money with that choice--you wont run into trouble.
Let's start with option A:
PREPARE FOR A LONG FIGHT TO THE TOP
If your niche is so crowded that you haven't broken into profit after several of months of marketing, this does not mean that your niche is unprofitable--it means the exact opposite: your niche is so unbelievably in-demand and profitable that everyone is trying to build around it.
You may not be making money with this route now, but if you stick with it and continually make progress, then you are almost guaranteed to make an enormous amount of money when your business reaches critical mass--when your website has a lot of backlinks from high-traffic sites; when your webpage is ranked highly in search engines for your specific niche keywords; when other marketers in your niche begin to seek you out for interviews and for joint ventures; and when you begin making your own products to fill the gaps in your niche. . .
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