"The early bird might get the worm, but the second rat gets the cheese."
Unknown Author

Following the theme of our Quote of the Month, let's examine what it means. On the surface this quote is obvious. The first rat goes after the cheese and gets killed by the trap. Since the trap is already sprung and imposes no threat, the second rat walks up and gets the cheese. The second rat isn't aware of the threat of the trap, but simply gains his bounty by being at the right place at the right time.

This idea carries much wisdom. It is better to look before you leap. If you have a great idea, don't assume that because you have it that it is original only to you. Others might have the same idea but don't possess the resources to implement that idea. Before you put your idea into action, research who else might be using the same idea. Observe how they are doing it and think about how you might do it better, differently, or with a twist.

Look around your environment. Just because the cheese is there, don't assume it is safe to snag it. There might be some hidden traps that you can't see. Go to some internet chat rooms and forums and search for others that might have similar ideas. Read the threads and see if there are some things about your idea that you haven't considered. Research and observe before you act. Become the second rat through research and observation. Learn the pitfalls and snags that might surround making your idea a success. Others might jump in before you, but the hammer will come down on them and not you. It doesn't always pay to be first.

As with any trap, it only works depending on the approach. If the first rat had simply approached the trap from the other side, it wouldn't have paid the price. Make sure your approach is based on 360 degree observation. Put out feelers about your idea without revealing it. Again, go to the chat rooms and forums and ask questions about the need you are trying to fill. This way you will spring the trap without you being in it.

You need a plan to bring your idea to fruition. Use the ROAD acronym. Research, Observe, Act, and Deliver. If you use this method with every good idea that comes to you, you will be one step ahead of the first rat. Get the cheese without the hammer coming down on you!

Dean A. Banks

"What is Internet Marketing? ...Do I really need to know?"

According to Lennart Svanberg, President of World Association of Internet Marketers, there are over 544.2 million people online. Yes, you need to know about Internet Marketing! Few companies have a large enough budget to reach this market with traditional marketing methods.

Consider the common marketing concept, MARKET SEGMENTATION. Market Segmentation is "...the method of identifying a group of consumers, within a broader market, that has similar characteristics and needs." With the explosive growth of the Internet, our "broader market" is the world, the "group of consumers" are the 544.2 million people online.

Identifying this new target audience necessitates identifying and implementing a NEW RANGE OF STRATEGIES and techniques in addition to the traditional marketing services.

WHAT IS INTERNET MARKETING (IM)? How does it differ from traditional marketing? According to Ralph F. Wilson, Web Marketing and Ecommerce, some of the elements are strategic planning, situation analysis, customer analysis, market and product focus, positioning, the market mix (4P's), pricing, product distribution and Internet promotion.

Add implementation, control, review and evaluation and you have a standard, traditional marketing approach.

However, many of the techniques and tactics of IM expand on TRADITIONAL MARKETING STRATEGIES. According to Internet Marketing Challenge some of the new areas that have charged into the business landscape are Internet classified ad marketing, testimonial promotions on Web sites, search engine marketing, pay per click purchases, Internet viral marketing, affiliate programs, advertising on URL's, email marketing, online press releases.

So, IM can be considered as a subset of traditional marketing. But, the lines are not that clear. High Latitude defines Internet Marketing as "...the combination of traditional marketing principles and interactive marketing methods applied to meeting the needs of online customers."

While there are some significant overlaps, it is probably too much to expect the traditional marketing professionals to take on this new huge area of expertise. It takes additional training to become qualified internet marketers. How the company organizational chart will look depends on the company. However, in 3 years as Director of Marketing for the Academy of Web specialists I have discovered that if the Internet Marketers are not empowered with the same authority as the traditional marketing staff and are not provided with reasonable budgets, IM IS SEVERELY HANDICAPPED.

I've also discovered that IM must be the task of marketing specialists and not of the IT departments or the Web development teams. Marketers must be in charge because technology and graphics specialists can't be expected to know what's necessary to put their expertise in service of the ultimate objective of the company Web presence, generating income and meeting the needs of the online customers. They have a tendency to have a different agenda and certainly have a needed expertise that requires their own ongoing education and learning.

What about resources for IM managers and training for IM practitioners?

Many Universities have Extension Programs with specialized training. The University of British Columbia has an online program. At Search Engine Marketing Consultation Resources I have a link to UBC, to other recommended Marketing Associations and to some online training programs.

Individual training programs such as those found at Academy Marketing Resources plus newsletters, online resources and professional organizations are all important sources of education and ongoing learning.

Here are a few additional resources to consider:

* American Marketing Association Web site
(http://www.MarketingPower.com, see Topics:Internet Marketing)

* Wilson Web (http://www.wilsonweb.com)

* Search Engine Watch (http://www.searchenginewatch.com)

Happy Internet Marketing!

Terry Plank
(Reprinted with permission)

Terry Plank is Director of Training for the Academy of Web Specialists. The Academy has educated 2,000+ companies online and onsite in search engine marketing since 2000. Visit the Academy's training site to learn more about their online search engine marketing courses and search engine optimization software. He has also offered search engine marketing consultation services since 1996.

What to do with that great idea...
1. Write it down.
2. Play around with it by placing it in several different scenarios in your mind.
3. Look at it from every conceivable angle.
4. Research the need for the idea.
5. Observe the reactions to the need.
6. Act upon your idea by making a plan and sticking to it.
7. Deliver the idea after you have thoroughly protected your idea.

If you would like to offer feedback on this ezine or if you have any questions you would like to ask myself or any other reader to answer please email producer@banksnet.com.

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Harnessing Innovative Ideas To Meet YOUR Needs
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