Despite
the presence of several notably large players, the Internet is still
a highly fragmented and unchartered marketplace. Newcomers to the eCommerce
arena have plenty of opportunity to thrive. However they must fulfill
an essential requirement - they must have a niche.
Net consumers are extremely astute. They expect highly competitive prices,
a wide selection and a superior level of service.
So how do you compete with big online retailers who can sell a product
at half the market price AND offer a comprehensive catalogue, global
distribution and a 24-hour customer hotline?
1. DEVELOP A DISTINCTIVE NICHE
If you can't be the only online retailer for a specific product (and
you can't) develop a specific niche where you can have the controling
stake. For example, online accommodation agents can specialize in offering
long stay condos in Florida, "mountain" vacations in the Rockies
or casino hotel reservations in Monte Carlo.
In order to be viable, your chosen market segment must be clearly defined.
Targeting "online female shoppers" is not refined enough.
What are their interests? Where are they from? What is their budget?
The preferred market slice must be unserved or undersupplied. There
is not much point in selling to a saturated segment, and attempting
to create new demand for what you are selling is too expensive for a
small business. Your target clientele must have a clear need for what
you are selling and must be large enough to be considered a market segment.
Your niche has to be geographically workable for you. It is best to
concentrate on a locale where you have good contact with suppliers or
can deliver your products and services to your clients quicker.
2. FOCUS YOUR ONLINE MARKETING
Select a great domain name. The majority of online consumers find websites
through search engines. A good URL that communicates what you are offering
will help you obtain high rankings in search engines and draw targeted
traffic.
Carefully decide your keyword list and keep refining in continuously.
Once you have narrowed down on the keywords that your target audience
is likely to type in ( e.g. New Orleans budget hotels), build the content
of your website around them and use the list for all your search engine
optimization programs.
You have to create a "buzz" about yourself among your target
clients. Building an affiliate network is a great way to achieve this.
This strategy involves identifying highly trafficked websites where
potential consumers are likely to hang out and building links with those
sites in order to direct traffic to your site.
3. OFFER A COMPLETE SERVICE
Your website may have the best room inventory in Ft. Lauderdale, attractive
photographs of beach front cabanas and a complete narration of all the
facilities they offer. However nearly 70% of your online visitors will
turn away if they have to e-mail you in order to make a reservation.
Ensure that your website enables consumers to make quick comparisons
between products and services and complete their purchase online in
real-time.
Enhance the shoppers' experience by offering flexible purchasing methods,
reccommendations and special members deals. Customers are looking for
great service and your competition is but a few clicks away.
If you are about to venture into online commerce arena, keep in mind
that it offers as many challenges as opportunities. Focus on your niche
with absolute precision and be the best in it.
RoomsNet -
RoomsNet provides customized Web based travel reservation software and
marketing solutions to accommodation agents and entrepreneurs who wish
to operate their own Internet reservation systems and develop their
niche online travel markets.
www.roomsnet.com