Monthly Archives: September 2017

Starting an On-Line Business – The Importance of Market Intelligence

As with any business venture, it is important to consider the importance of market intelligence when starting a new on-line business.So what do we mean by market intelligence? It simply means being aware of what the market is doing currently. If we want to be close to the market, we need to fully understand it, including the role that our competitors and customers play.With regard to our potential customers, it is a matter of asking the question; “What is the customer looking for?” That is the key component of any market intelligence. In order for us to succeed in an on-line business, we need to carry out research on this subject to enable us to see the opportunities that might exist.We also need to ask; “What is happening currently in the market place? What major shifts are taking place? What are the trends?” As someone said; “In business, a trend is our friend”, and so we need to be aware of current trends.

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For example, an obvious major trend is the increasing use of the internet. It is estimated that globally there are currently 1.5 Billion internet users, with 1 million new internet users coming on-line every day. This obviously presents a huge and growing potential market for our products and services.Another trend is the shift towards the direct sales of products and services. It estimated that globally there are currently 70 million people starting a direct sales business every day. This is largely due to the huge number of lay-offs in the labor market in the last two years as most industrialized countries are currently experiencing unemployment in the range of 7 – 10 %. Many of these people are blue-collar workers and skilled professionals who have been forced into creating their own employment. A number of these are starting up a direct sales business for the first time.If you combine these two trends: The increasing use of the internet and the increasing number of people involved in direct sales, you will come to realize that the big shift in business today is the increasing number of people who are starting a direct sales business using the internet. This may be part or full-time, and what we also find is that most of these people are operating these new businesses from home (here is another trend).

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The statistics however are not promising for people who are new entrants to internet marketing – the fact is that 97% of internet marketers don’t make money! So this throws up another thing that we need to consider. There is a huge need for training and education in internet marketing to ensure that people do not fail. This can be seen as a huge opportunity – the large number of people who are new to internet marketing who need help and support.This presents one of the greatest business opportunities of our time. Are you willing to capitalize on this opportunity? Conversely if you are one of those needing help and support? In either case you can click on to the attached link.