Aspiring business owners and small business owners are often misinformed or misguided on the subject of how to properly carry out market research that uncovers the profitable niche.
The path the majority of unsuspecting entrepreneurs take can be ending up at keyword tool or even database to begin their lookup.
As a keyword research professional and founder of one from the leading keyword research solutions on the internet, I can say along with firsthand experience that key word databases are not the first place to appear nor should be even regarded as. Here’s why.
The primary key word databases that are currently available towards the general public only give lookup counts on a limited quantity of data that accounts for 1% – 2% of the real searches people do round the entire world. They can only anticipate (emphasis added) the real most of searches that are being done within the big five search engines for example Google, MSN, Yahoo, AOL and Ask. com which keep 97%-98% of the keyword information.
Most importantly, keyword research just shows what keyword phrases individuals are using in the search engines to search for solutions, not what people actually buy on the web. Just because a group of people search for particular terms or brand names is not to mean that’s what they purchase. That is a key distinction many entrepreneurs as well as business owners tend to gloss more than.
When looking for a profitable niche market place, your primary focus should be searching for proof of a group of hungry as well as rabid buyers that want to change their money for a service or product (information, physical or digital). Without having this crucial qualifier, you might have the greatest product in the world, however, you may be lacking a market to market it to.
This article will existing a number of great sources to check out which will give you a running begin to uncover a truly, profitable market place exists before you go for the precious metal and put all your resources right into a website, product creation or even expenditures toward some sort of on the internet property.
Once you establish you have located a market that contains indications of adequate commerce moving through it, you then have a worthy cause to look further into a key word research service to find out what keywords people use to find the marketplace you have chosen.
Let’s begin looking at how to identify a profitable market.
One of the best ways to discover signs of a truly profitable market place is looking for a magazine in this industry. If a publisher offers enough money to print out and circulate a full colour magazine, there are most likely marketers that support the financing of the magazine’s ability to flow all the copies which almost certainly means there are sales being made by those advertisers.
Right now, this may bring you to issue whether there is too much competitors in a marketplace with so many marketers selling in a magazine.
Actually it’s a great sign to get competition which means there is an sufficient amount of customers to sell in order to and a portion of a sizable cake to be had in that marketplace. When there is very little competition, you may (1) not have adequate product for sale in that space; or (2) not have a marketplace to start with. The larger the competition is, the bigger the piece of revenues it is possible to grab.
Without having to leave your own seat, you can hop on to Magazines. com and looking with the number of different categories to find a rewarding topic or industry by which to start an online concern.
One important thing you’ll want to focus within on is the number of customers each magazine has and just how long the magazine has been around print for stability reasons.
Make a list of magazines you would like to look into and then go trying to find them at one of those big dedicated newsstands that handles just about every magazine on every subject.
To get a better look at what individuals are buying in the online globe, you will need to ultimately decide whether or not you wish to represent physical or even digital products.
ACTUAL PHYSICAL PRODUCTS
There are 2 incredibly huge marketplaces which are massively trafficked, move lots of product and are great locations to find what people are really purchasing.
Let’s start with the first massive marketplace…
At eBay, you can look over a list of the most popular products individuals are buying through auctions or even from eBay stores which vendors have setup. To see a visual path on how to find the most popular products, please make use of the reference below to view the actual extended version of this article.
An additional really big marketplace is actually Amazon and it’s not only for books. You can find virtually any product and name brand this is a mover and shaker. Once again, look at the most popular products within those categories that capture your attention.
If you wish to market products of the digital character which does not require stock and which usually carries higher profit margins for affiliates, you will want to check out the Clickbank electronic marketplace that ranks income from highest to cheapest sellers in each group.
Just browse through categories in Clickbank. com and you will instantly find the top retailers of digital info items, software and subscription solutions which are located right at the very best listings. See also research section below for a hyperlink to the extended version of this article for visual aids and much more detailed guidance.
Once you collect the adequate market research, you can do among the following:
• Create an internet store that ships away
physical products and merchandise (requires inventory)
• Sell products through eBay auctions or even their online stores (requires inventory)
• Create a site which represents vendors as an affiliate marketer (requires no inventory)
• Create your own product, support or software for a electronic product (requires no inventory)
Having used at least two of the actual four places above, you could be assured that you have conducted correct market research to uncover “proof positive” what people are buying as well as, thus, a profitable specialized niche.
You can then quickly build away a non-complex site having a simple product offering, discover some low cost keywords to include in a Google Adwords Pay-Per-Click strategy with a minimal spend associated with $50 to test the market and find out if you have a winner.
If the preliminary test results pan away, meaning that you pulled the profit from your test, you are able to invest more energies, carry out more extensive keyword investigation and expend more marketing dollars. If the test outcomes do not pan out, discover another market until some thing sticks.
I believe this should hand you with enough information to help you get moving toward finding a market place with bottomless profits.