Just wanted to share this post.
Talk soon,
Lennard Destang
Researching For A Profitable Niche Market.
Now that you have your niche, you’ll need to research whether it can be profitable.
YOU might be very interested about a niche topic but NO ONE else online is interested. Then, it’ll be useless. For example, if you want to build a business about “underwater weddings” but nobody is crazy about that, you’re not going to make money even if it’s your hobby, a topic that you’re passionate about and are an expert.
Two things: either it’s buying market or having the volume of traffic. OR BOTH.
Volume Of Traffic
A sizeable market is better than huge market
You would think that if we’re going after the volume, we should follow the thinking of,
‘the bigger the better’. Guess what, you’re wrong!
The bigger the market, the more competitors you’ll have to be the authority.
It’s easier to dominate a niche about “Boxer Dog training” than a “dog training” niche
in general.
The other reason is, you want to create alliance with your ‘competitors’ than trying to
compete head-to-head.
And finally, you want to be an authority in a certain sub-niche market. A sub-market will also be more responsive in terms of relationship because it’s topic-focused. This will make you richer because your visitors, subscribers or customers will be highly targeted.
1 - Research the demand or searches the topic received each month
The weird thing about this tool is that it’ll not work once in a while. Meaning, the url page I’ve given you above might not show up.
A guideline is between 20,000 to 200,000 searches a month from Overture will be good, although it’s a huge gap in between. This is subjective and it’s only a benchmark for you to consider so don’t take it seriously.
Also, the benchmark is not for just ONE KEYWORD. If your niche is “Men Dating”, consider keywords like “Men Man Dating” as well to be add up for the numbers of searches because they’re almost identical in terms.
2 – Check for the possibility of join venture partners
Go to http://www.google.com to find other current websites that are related to your topic. There should be thousands of other websites related to it but you do not need to review all of them. All you need to review are the 3 – 5 websites from page 1.
If there are hardly any websites relating to your topic, that’s bad news because you will need partners to exchange traffic.
It's time you understand that the absolute easiest and most profitable way to get things done in business is to get help.
It's all about the contacts you make.
Trying to make it alone and fighting against the odds is what you've been taught, but it's wrong. You need help.
How often do you take the time to build relationships online?
The answer to that question will determine how far you get.
I constantly search out new friends and business associates because I know that there will come a time when I will need or want their help and vice versa.
When you actively seek out relationships with others in your market, you automatically open yourself up to opportunities that the average businessperson would easily miss because they’re out of the “circle”.
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The next post in this series of fast action guides we'll be lookinng into "niche market "reachability"
More to follow soon.
Lennard Destang
I just wanted to let everyone know of a Twitter phishing website I found today.
Read all about it here: http://imtoolsinabox.com/blog/159/twitter-phishing-website-revealed/
Talk soon
You wouldn't believe how many people use this guy’s Free software and “money getting” tutorials to train their staff.
And other people actually pay $297 for this kind of SEO blog software.
But he's giving it away for... Free.
Don't worry...
It's all rock-solid and can be put to use in your business starting today, right now.
Hundreds of thousands of people just like you have taken advantage of it over the last few years.
Check it out, it's free:
Enjoy!
Technique 1 : Look Around. What Do You See?
This method simply involves looking around your immediate environment-- where you
work, live, play, etc. This could be looking around your house, your garden, your local park, local shops or whenever you are out at a new place.
For example, if I were to look around the room I’m currently in, I estimate that I could
generate at least 5 new niche ideas.
I see my Apple iPod which I use to play MP3 music; why not create a niche for Ipod
users? Last time I’ve checked, there are 1,031,801 searches a month for the keyword, “iPod”. That’s over a million. Just dig into a level deep and you’ll spot a niche. You can create all kind of categories like “buying iPod”, “iPod tricks”, “iPod maintenance” and a lot more.
- I see a flower pot on my study table; why not think of a niche like care home flowers?
- I see a sports car outside of my place; why not write a product with interesting content about sports car?
- I see my wallet; why have a site about designer bags and accessories?
- I see a few antiques in the corner; why not having a site with selling antiques content.
See? 2 minutes of looking around one room and I’ve generated 5 new niche ideas. I’m
sure I could generate a lot more with a bit more time.
Once you find a new niche idea, write it down in your notebook and then continue
looking.
It doesn’t matter how useless you think the idea will be; write it down. It may well
prove to be the most profitable of all your niche ideas.
Repeat the process through the rest of your house, and then move onto your garden.
Remember-- You can repeat the same process in your local park, local shops or
wherever you are. Every place is different and every place will give you one or more
niche ideas.
Technique 2 : What Is In The Media?
The media have had an ever increasing affect on our lives and it can be used as an excellent tool for generating new niche ideas.
To find what’s in demand using the media involves analyzing TV adverts and programmes, magazine adverts and content and newspapers.
By analyzing current affairs, you can quickly spot potentially lucrative niche markets.
Over the last few years, global warming and its effects have been widely broadcast and more and more people are trying to do their bit to help reduce the effects. You could quite easily research how to reduce global warming and start to create a site on this.
Using magazine content is also a good way of choosing niche ideas. You always see women’s magazines with fashion advice and weight loss tips. You could use these articles as research and because they are being included in these magazines, the information is obviously in demand. Don’t restrict yourself to women’s magazines however, look at:
- Car magazines – You could set a site about choosing the perfect car to suit the customers purposes.
- Garden magazines – A site about creating a beautiful garden.
- Travel magazines –Content on travelling for cheap, luxury destinations or things to do on vacation.
There are thousands of magazines out there and each one could provide you with 3 or 4 new niche ideas.
Simply visit www.magazines.com to browse through a huge selection of magazine categories.
Monitoring the TV listings and analyzing what’s on TV is also an excellent way of selecting a lucrative niche market. An excellent example of this type of niche selection is if you had spotted that hit TV series “LOST” would have been so successful with so many fanatical fans that are very passionate about the programme. You could quite easily have created a site catered for “LOST”! Or a bigger niche like “Action Series”.Whatever.
The best part about choosing a niche like this is that if you were one of the first to set up a website about LOST and marketed it effectively in the initial stages, then you could have dominated that niche market from the very beginning.
Technique 3 : What About Google?
Another method of generating new niche ideas online is using a few free keyword research tools from Google. The first being: http://www.google.com/trends
Type in a keyword to Google Trends and it will display a graph showing how the number of searches has changed since 2003 through to the present day. It’s a good way of identifying niche markets that are on the up and niche markets which are in decline. It also shows you what events in the press affects the major increases or decreases in search numbers. You can then identify how media speculation will affect that niche.
Google Suggest (http://www.labs.google.com/suggest) is another great tool for identifying niches within niches. All you have to do for this one is type a keyword and Google will immediately provide you with a list of other possibilities for keywords with highly searched words and phrases. This is an excellent way to narrow your vision and identify very hot and lucrative niches within niches (micro-niches).
Caribbean cruises for example could be a highly lucrative niche. You could give details on some of the best tourist cruises associated with the caribbean.
Try many different main keywords in Google Suggest and see what comes up.
The next post in this series of fast action guides will be about "Researching For A Profitable Niche Market"
More to follow soon.
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