Make The Money Blog

(A 5 part series on making money online)

If you missed it, click here to read part 1
If you missed it, click here to read part 2

Part 3 will discuss the competition for your niche.

Competition

Many people will tell you that you should always choose a low competition and high CPC, however this is like finding a needle in a haystack! Competition online is not nearly as important as your marketing efforts, especially if you know about SEO optimization. If you have strong knowledge of your niche (subject or topic) you can choose the most competitive niche, as your experience and knowledge will allow you an advantage of many websites that are merely trying to capitalize on the keyword without an intimate knowledge of that niche.

So do not be afraid to enter a field that has very high competition. Your choice needs to be directly related to how aggressive you will market your website and how intense your knowledge is in that niche. For example, Forex is a highly competitive area, and has very high CPC (as much as $15), if you are an expert in brokerages, trading, stock markets and currency, then this is an ideal market for you. On the other hand, if you know very little about the subject, you will struggle to make your first dollar.

Think Wal-Mart

Competition in an online business is not highly relevant, just like it is in the offline world of business. If you were to start a business in the brick and mortar world, would you really worry about how many other businesses that will compete with you? For example, Wal-Mart does not weigh heavily on how many other discount stores are in an area when they propose to build one of their stores. They know they will be competing with grocery stores, discount clothiers, toy stores and pharmacies. Yet, they will still venture into an overcrowded market.

The reason Wal-Mart is able to do this, is because they offer discount merchandise, they have a well-known brand name and they know their markets. In the same respect, if you enter a market that is overcrowded, you must offer something others do not. This will set you above that competition and allow you to capture a larger percentage of the market share.

Look at the aspect of competition in an online business, if there are millions of websites related to your niche, and you are going to look like all the rest, you will have a tough time in competing. However, offer more value, and use wordpress SEO secrets as well as something to keep your market coming back to you and you will be able to compete even in the most overcrowded niches.

Beating The Competition

It also should be noted that if you commit yourself and dedicate resources to aggressively promoting your niche website, you would find that you could beat out much of the competition. Mainly because many niche sites are not heavily promoted, as many Internet Marketers attempt to put everything on ‘autopilot’. So, do not be afraid to enter a competitive niche. Dedication, aggressive promotion, and knowledge in your niche will help you succeed.

To determine the competition for a particular keyword, you can go to Google, or any search engine and type the keyword. Use quotation marks around long-tail keyword phrases to see how many websites use that phrase. The total number in the right hand corner of Google will tell you the resulting pages. This is the number of competitors you will have for that phrase.

Again, remember it is not the number of competing webpages, as much as it is your method of getting higher ranks and aggressive promotion. You can learn more about traffic by looking into this guide, 3 Steps To Search Engine Success

Subscribe Now so you do not miss any of these important tips to make money! Click the RSS feed or email icon to your right, under the Keep up to date.

This concludes part 3, stay tuned for Part 4 (Advertisers)…

(A 5 part series on making money online)

If you missed it, click here to read part 1
Part 2 will discuss choosing a CPC ratio for your niche.

CPC ratio

The CPC (cost per click) ratio should be high enough to support your efforts. That is, the amount of money an advertiser is willing to pay you for each customer click. You can use a formula to determine a good CPC ratio to use. This is based on the visitors to your site and the retention of those visitors to click. In most cases you can expect a minimum 4% click thru rate.

To determine a good CPC for you, take the number of visitors to your site and multiply by .04, then multiply that number by the CPC offered by the advertiser (in the case of Google Adsense, divide this by 3). The result is an expected amount you would receive per day from those clicks.

For example, If you were to receive 100 visitors a day to your site, you would expect 4 of them to click. If your keyword is paying $6, then you would multiply the 4 clicks by $6 for $24 and then divide by 3 for a final income of $8 per day.

The amount of money you make per day is directly related to the traffic you generate and the CPC rate. The formula above merely illustrates a possibility of how much you should make if your site is optimized and receives targeted visitors.

As a side note: Targeted Visitors are extremely important to your success. If you use every method in the world to get traffic, be assured, the only people who will click are the ones that arrived at your site that is INTERESTED in your niche. For example, if your site is about dogs, don’t expect that someone looking for beauty supplies is interested in clicking your dog related ads.

For this reason, when you are choosing a niche, be mindful of the fact that you want to focus everything on THAT niche, including your traffic. Focus only on targeted traffic, and do not waste your efforts on getting thousands of unrelated, disinterested visitors.

Do you need help in getting started in your own business online? The best way to make money is to properly follow the advice of professionals in the Internet Marketing field to make money from your online business. You can read reviews of the top 3 Internet marketing business models here.

Subscribe Now so you do not miss any of these important tips to make money! Click the RSS feed or email icon to your right, under the Keep up to date.

This concludes part 2, stay tuned for Part 3 (Competition)…