Newbies Quick Guide to Online Marketing Terms – Part II
Presented by Charles L Harmon
In part one I presented a few online marketing terms for you to be familiar with. Here are a few more you should know.
5) Niche marketing, this is the act of selling to a particular group of people. There are lots of untapped niches (small groups interested in a specific subject) who are willing to pay for information. Online it’s easy to target these small markets by monitoring search engine results, and finding a specific word or phrase which is being searched for but not near the top of the list of popular searches.
An example of a niche market is Lugar owners, they are gun owners, but will specifically search for information about Lugar guns. These niche markets can be profitable because they are not targeted directly by many people. So if you have a product tailored to a niche market you have less or no competition compared to sellers of information in non niche markets.
6) EBook, although getting more popular this still causes some confusion, an ebook is an electronic book, it can be a .pdf file, plain text file or an executable file (one which is actually a self contained program to run on your computer). Ebooks sell well online, as there is no shipping, and delivery is instant. Generally more profit can be made selling such information products. Usually considerably more profit.
7) MLM, is the initials of one of the least understood, and most maligned of business models, Multi Level Marketing. Sometimes known as network marketing or referral marketing, MLM is an ideal business model for online marketers, because of the ease of getting out the message about a new business, and the low cost of advertising online. The problem with MLM is that it is also easy to mistake a pyramid scheme (also called a ponzi) for an MLM opportunity, and many unscrupulous people will sell pyramid schemes as an MLM opportunity.
The difference is that a genuine Mutli Level Marketing scheme has a worthwhile product which you are selling, and money is made by referring other sellers of the product whose sales generate you a commission. Pyramid schemes will usually have a worthless product or no product at all, and pays people from new members joining.
8) Pay Per Click or PPC, is a fast way to generate traffic to a website. It’s a paid traffic generation method. Some heavy hitters use PPC to generate thousands of dollars a day profit by using highly efficient targeted ads to get buying customers to a website or web page. With PPC your ad cost generally depends on how many people click on your ad.
It’s easy to spend a lot of money on Pay Per Click ads, especially if you don’t know what you are doing. It usually takes a lot of testing and ad optimizing to be able to make money with PPC. Best practice is to learn before you try to earn with PPC.
If you are a newbie to online marketing, remember these online marketing terms. They will help you understand some of the things seasoned online marketers say and write. If you’re a seasoned marketer try to introduce your newbie friends using less of the jargon mumbo jumbo we online marketers take for granted.