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
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