Posts tagged ‘Internet Retailer magazine’

Musicnotes.com Hits $1 Million Sales Per Month (Update)

December 1st, 2009

As reported in Internet Retailer, www.musicnotes.com  has hit sales of $1 million for the month of Nov, a 25% increase over last Nov; with annual sales of $11 million. Musicnotes sells licensed sheet music of nearly 110,000 songs that can be downloaded — no shipping or handling necessary. This is the kind of business we like — finding a niche  and designing an automated architecture, with repeatable sales. The company was founded in 1999 and is based in Madison, Wisconsin. Is privately-held, and currently has about 40 employees. The site now reaches about 120,000 visitors per day and 20% of its sales are international.

UPDATE: A reader just advised us of a possible scam related to musicnotes.com. We do not know if it’s true.

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Adwords: Focusing on “Long-Tail Words”

April 14th, 2009

“Smaller advertisers have a better shot of appearing on the crucial first page of search results, and there are big opportunities for all advertisers to attract attention by bidding on less popular, multi-words… (says) research firm AdGooroo. Read the full story at Internet Retailer magazine.

In other words, focus your campaign on the “longer-tail words” (i.e., “red australian shephard short hair dog” instead of just  “dog” or “australian dog”). You may get far fewer impressions but your click-through-rate will be much, much higher. Well, of course, this is nothing new. Chris Anderson wrote a great book about it back in 2006, The Long Tail: Why the Future of Business is Selling Less of More. A good example of what this all means was explained in his book: A Borders bookstore carries about 100,000 titles; meanwhile at Amazon, 25% of Amazon’s total “sales come from outside its top 100,000 titles.” The 20th century was about hits and broadcasting; the 21st century is about nices and narrowcasting. This is, as most people know by now, the heart of e-commerce.

BTW here’s another fun fact about broadcasting versus narrowcasting: Today’s hit “CSI” is watched by 15% of TV households. Compare that to “I Love Lucy’s” 74%. Niche is the thing now.

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“Doubling Sales Every Month”: The Big Growth Industry

April 12th, 2009

As the population ages and babyboomers enter their older years, marketing to and for this group is a BIG growth business/industry. Internet Retailer magazine reports that Parentgiving.com has been doubling sales every month, even without much advertising or promotion.

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The Bible of E-Retailing: Internet Top 500 Guide

April 7th, 2009

Being armed with statistics can give you the edge of need. The Internet Top 500 Guide is published every year by Internet Retailer magazine. We recently reviewed the IRCE, the annual e-retailing convention operated through the magazine. As we mentioned, it’s probably not the convention you need to go to if you are just starting out. Similarly, this “Bible of E-Retailing” may be “too much information”  for now. But it can be fascinating, if you have the extra money to spend (a single-user license is $195.00). Basically, it’s a detailed report, with facts and figures, on the 500 top e-retailers. The magazine describes it like this:

“Each annual edition of this data-rich directory profiles and ranks the 500 largest e-retailing businesses based on their latest annual online revenues. It also provides dozens of metrics on their web sites, including web traffic, conversion rates, number of SKUs, average ticket, growth rates, customer satisfaction and performance ratings, search engine effectiveness, lists of all their vendors, corporate address and top management . The Guide also lists contact information for nearly 2,000 top e-retailing executives.”

So this could become a power tool for you when you are in a position to use it… BTW, according to their 2007 report, who was #1? It comes as no surprise: Amazon. Number two is Staples. (Remember this is their 2007 sample, which you can see here.

(reviewed by www.richdogmillionaire.com)

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