This week I have learnt two concepts, the 1st concept taught to us was:-
Business model and Idea generation
We were directed to a few links which I found interesting, they are listed below:
I found “Business models on the web” to be very interesting I knew a few business models which included the merchant model and the affiliated model but the rest I have not been able to quite figure out and put it plainly as this article does. I plan to do some more review of the various business models on the web and how they work. I did not get much time to spend with BizThoughts Brainstorming Business Ideas but later I will spend more time on viewing information on this page.
I spent quite some time viewing the Russell Brunson and his secret Magic box U-tube video and came up with a few ideas of my own which I have not tried which was inspired by the YouTube video. I would like to give some of my ideas a try to see if they work effectively and will report back later as to what I find.
In my class I can see there are quite a few very intelligent and capable people who already understand how the web works so I’m looking forward to learn from them.
The 2nd concept taught was:
Demand and Competition
This concept I learned the most from this past week. We were shown some concepts on how to use Google’s keyword planner in AdWords. What I really enjoyed being able to analyse the different searches between two different words.
I learnt that when searching a specific word and looking at the keyword planner under the topic of search volume trends there one can see how many searches have taken place for a specific word over a period of a month with this tool you can see certain trends for instance if the searches are consistent over a period of a year or if they are seasonal. One can also notice the amount of searches taking place over a month with one a specific word – this is a clear indication of the demand for a specific word.
As far as competition is concerned this can be seen by viewing the specific keywords and under the tab competition one can see if there is a high, low or medium competition for that specific word and the value that the word holds is found under suggested bid.
One thought I had, that is if a specific keyword had high searches, high demand and price, this word could be worse bidding for because of its high demand.
I applied this concept to a business I already have going and found some very interesting results which will definitely benefit my business so I am very interested to see how things work out as my studies progress over this next semester.
The link that I enjoyed under demand and competition is How to Use the Google Keyword Planner for SEO.
We also received our first project which I had a look through and found that there is a lot of work to be done not only that a lot of learning but this is exciting and I am looking forward to it.