Blogging for Profits issue No. 8:
Increase Sales and Profits of Less Popular Products and Services With The Help of Your Blog
Reviews of recently released book "The Long Tail" by Chris Andersen summarizes his focus on niche markets and the resulting sales and profits from product sales that are generally obscure to the mass markets but appeal to special interest
groups.
Ed Dale and Frank Kern are guiding thousands through the updated 30 Day Underachievers program. This is designed to teach you how to identify a profitable niche market and create a product that will meet a need in that niche. If you are an internet marketer or otherwise interested in using the tools of the Internet, you will be well served to pay attention to this program (www.underachieverlife.com).
This series is about how to achieve a dramatic increase in profits for your business by developing and managing a blog. In The Long Tail Chris says only 20% of the items offered by retailers are hits. Of course it is by no coincidence this is consistent with the 80/20 rule I have mentioned in previous issues. In summary, 20% of the items, or customers account for 80% of the revenue and profits. Ed Dale and Frank Kern teach you how to identify the top 20% of the keywords in you niche market research. I spend most of my time helping clients identify and focus their resources on the top 20% of their offer. In other words spend 80% of your time on the 20% of the items that account for 80% of your sales and profits. Rich Shefren teaches this extensively to his coaching students. Read his interviews with two students at http://www.strategicprofits.com/interview
Part of what both Rich and I advocate is the leveraging of skills. For example if you are great at sales, it would be a mistake to have you devote a lot of time to maintaining the accounting system. I am sure you understand the principle.
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