Monetizing an idea?

by mw13

Posted: 10 years ago 18 replies

INTERNET MARKETING

A noob at this but after some pretty heavy niche I have found one that is focused on a niche pet that is rapidly becoming more popular. I own one of these pets and am quite knowledgeable on them. Search traffic for the primary kwp's is over 100k a month with very low competition.

I believe quality content will drive traffic but I'm not sure if there is a viable monetization strategy. I'd like to sell products but they are pet type products readily available at many other places. But thinking I could gear product reviews towards these pets specifically so that there is more meat to it. I could also maybe search out more unique products maybe geared toward these pets.

Good thing is that owners of these types of pets are typically very passionate about ownership and due to cost to entry have some money. Any other suggestions on monetizing? Thanks and if this is in the wrong forum my apologies.

I believe I can drive traffic through strong content creation and the plus side is these pets owners are highly passionate about their pets and typically have higher levels of discretionary income as ownership of these pets is quite expensive but can I monetize this? I'd like to sell product but most of the products would be stuff you could find at most retailers. Thoughts?

#idea #monetizing

Steve B 10 years ago

If the pet owners are very passionate, you may want to consider a membership site. Charge a recurring fee for community membership. Often owners of a common product or breed will come together to discuss, share photos, even meet up to interact with each other around the common element. Inside the membership site you could sell both products and information about caring for the breed, grooming(?), health, breeding, etc. You might even start a bartering or classified ads section for the exchange or sale of the breed. There are many, many ways to monetize.

Steve
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mw13 10 years ago

Thanks Steve.... not sure the membership idea is the way to go as there are already very good free boards there but I think you are on the right path with the types of products.
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cyberzolo 10 years ago

Join some affiliate programs that you can get a commission from if there are any programs in that niche. Google Adsense is always a good idea to do if you can't go down the affiliate marketing path.
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youvana 10 years ago

As SteveB says a membership site is a very good idea. Membership doesn't have to be much, but if it's a specialist area...well you could do very well.
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mw13 10 years ago

Thanks youvana.... does a membership site need to be forum based or can it provide some other type of service or info. There may be something to that. Again, there is a large forum in the area that is the leading source of communication for owners but it's very sterile and is only a forum. I would provide an actual content style blog with useful info, reviews, etc.... Maybe charge something very inexpensive like $10 a year, maybe?
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Alexa Smith Banned 10 years ago

Originally Posted by mw13

I believe quality content will drive traffic

It will, if you have it published where the traffic's already looking/reading, and use it as the way to bring those people to your site looking for "more of the same".

It's not so easy to drive traffic from quality content published just on your own site. The only real traffic that's likely to bring is some gradual, eventual, search-engine traffic (not exactly noted for being easy to monetize). Publishing content only on your own site really isn't a great traffic-generation plan, for most people, most of the time.
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mw13

10 years ago

Agreed Alexa! I will focus on SEO, social media, building quality backlinks, email list building and PPC to drive traffic hopefully but only if I can figure out a way to monetize it. This membership idea might be something. I initially focusing on finding good products I could review and sell and would still like to do this as well but I would need find stuff not found at your local Petsmart.

Thanks
1 reply

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Alexa Smith

Banned 10 years ago

Originally Posted by mw13

Agreed Alexa! I will focus on SEO, social media, building quality backlinks, email list building and PPC to drive traffic hopefully but only if I can figure out a way to monetize it.

For myself, I never put any effort into attracting SEO traffic, because I find it the hardest to monetize, in all 9 of my niches, and it's therefore a very poor use of my time and effort: http://www.warriorforum.com/main-int...ml#post8659398

Email list-building isn't a method of attracting traffic: it's a method of retaining and monetizing it.

Thanks
1 reply

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mw13

10 years ago

Thanks everyone for the info.

Again, traffics not my worry, monetization is. Aji I have taken a look at clickbank but I'd rather sell tangible products specifically geared towards the specific type of pet though I'd be open to some intangibles.

So far the membership idea might have legs if I charge a very low price and make the site worthy of paying a membership fee. Do you folks think people why buy a product through me that they could get a local retailers if it's positioned well on my store with good content and specifically relating to their pets?

Also open to any other suggestions? I still think product reviews might work as well and then offering those products. This would be be a pseudo ecommerce site idea maybe.

Thanks
2 replies

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Alexa Smith

Banned 10 years ago

Originally Posted by mw13

Again, traffics not my worry, monetization is.

I hear you, but at the same time, be aware that the two are intrinsically connected, partly because traffic from some sources is far easier to monetize than traffic from others, and partly because it's far easier to monetize traffic from some sources in specific ways which wouldn't necessarily work at all for traffic from other sources. You need to think about traffic demographics in the context of "what to sell and how to sell it".

Originally Posted by mw13

I'd rather sell tangible products

Some people do very well, that way.

Be aware, though, that doing that raises questions of geography, location, deliverability, and so on. (Limiting your business at the outset to one country, out of the whole world, can put you at a huge disadvantage compared with other aspiring internet marketers.)

Originally Posted by mw13

Do you folks think people why buy a product through me that they could get a local retailers if it's positioned well on my store with good content and specifically relating to their pets?

Unlikely, unless you're offering specific advantages (price/style/availability?) over their locally available products?

Thanks

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jungleweb

10 years ago

This is what affiliate marketers do every day. For the most part, everyone is part of the same networks pushing the same products to the market. However, some savvy affiliate marketers will, for example, take an affiliate product and add some of the own free bonuses in with the offer to sweeten the pot for someone to choose to do business with them over the competition. This is the same thing you can do.

1. Take the same products

2. Create or locate some great free bonuses with it to boost the value of your offer

3. Delivery your great package deal, special treatment, advice & knowledge to your customers that they just can not find in a retail experience.

4. Win Customers/Make Money!

Originally Posted by mw13

Thanks everyone for the info.

Do you folks think people why buy a product through me that they could get a local retailers if it's positioned well on my store with good content and specifically relating to their pets?

Thanks

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Aji Raman 10 years ago

Do you use ClickBank?

-AJ
- Thanks
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Curtis2011 10 years ago

One of the easiest ways to find how to make money in a niche is to look at the advertisements that businesses are already putting out in that niche.

In other words, go to Google, search for some keywords related to your niche, and see what companies are advertising in the Adsense ads on the side of the search results.

Go to some of their websites and see what they are selling. This will give you an idea of things you could sell in that niche, either as your own product or as an affiliate.
- Thanks
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mw13 10 years ago

Thanks all.. Did some checking around and their are definitely some advertisers in the niche. That may be something to be thinking about as well. Alexa - get what your saying - I don't know the "type" of traffic coming in. I just know it's a species of pet that is growing rapidly and when you do a google search the only thing that comes up are mostly .orgs and regional clubs. I get the sense based on the huge volume of search traffic that people must be looking for info on the pet or maybe places to find them but there are plenty of directories out there already. There are no curated, content driven sites providing quality info or commentary. I'd could build something for fun because I am passionate about the pets but the disconnect is again in a way to monetize. I do think advertising is a channel as I did some checking around and their are definitely some large advertisers out there. Thanks for walking me through this all as it's a been a challenge.
- Thanks
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- Alexa Smith Banned 10 years ago
  
  Originally Posted by mw13
  
  it's a species of pet that is growing rapidly
  
  Animals are like that.
  
  Tiny when you buy them, and then the next thing you know, they're taking over your house.
  
  Thanks
  
  1 reply
  
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  mw13 10 years ago
  
  Yes, but I want a business like that!
  
  Thanks
  
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sevemichaelml3 10 years ago

how many clicks/traffic are you currently getting now?
- Thanks
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mw13 10 years ago

None yet as it's not built. Thinking of at least throwing up a squeeze page and testing? Again even if I do get traffic, not sure what to offer lol but it may be a good way to get my feet wet in IM. Thanks.
- Thanks
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Monetizing an idea?

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