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The Myth Of Overwhelming Competition
There are three myths of internet marketing illusions according to Russel Wright a detailed in his report Market Domination. These are the myth of constant change and the myth of new ways to make money. The third illusion is that of overwhelming competition.
Competition online is very often pitched as being rife. Even every so often this column is guilty of perpetuating this ideology. This myth has been very well captured in John Resses's concept of Accelerate Market Fragmentation discussed here last week.
Accelerated Market fragmentation is based on the idea that putting up a web business is becoming even easier with the entry of free Web2.0 solutions. For example sites like Xanga, Bloghi, Quizzilla among hundreds more allow good quality web-hosting, fairly comprehensive publishing and internet marketing that anyone with a viable business idea can find ways to roll it out. This is while facing a real possibility of making thousands of dollars a month from their venture. A concept like Conversation Domination popularized by Howie Schawtz is a good example of zero cost income strategy. Such a concept when understood can be done by anyone, hence exponentially increasing competition as people round the world seek financial freedom.
However, there is a different school of though held by people like Wright and Charles Heflin of Seo2020. They really believe, and to some good extent proven, that there is not as much of competition as we tend to think.
For example, Heflin takes us through a seemingly highly competitive term "cheap car stereo". This term has in Google over 9.5 million competing indexed pages. Keeping in mind that most search engine visitors do not go past page two of search results, this is make or break kind of competition. Basically it means if you want to put up a page or even a whole website on "cheap car stereo" you have to fight with over nine million pages for the top 20 position. But Heflin methodically calls Google on their bluff.
In a video, Heflin shows that Google actually does not have over 9.5 million pages on "cheap car stereo". In reality they only show 753 pages while omitting the others. Suddenly competition in the millions just dropped into the hundreds, but it gets even better.
While going through the list of 753 pages displayed for "cheap car stereo" you notice that most pages are not very relevant to the search term. Infact they start losing tight relevance to the search term at the eleventh position. This means that out of over 9.5 million pages only about 20 to 30m pages are highly relevant to the search term. This effectively shows that there is really not as much competition as Google tends to indicate by the total list of pages related to a search term.
Though the example used seems to be dramatic, this is really common. Keywords with 50 million results in Googe are really just competition among hundreds or so pages. Ten to a hundred pages of competition is really not difficult to hack. Most competition here can be dissipated by proper site structuring and use of Latent Semantic Indexing and Co-Occurrence Matrix -- all that have already been discussed here sometime.
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