How do you research a niche?
Ok in previous posts I identified the real pitfalls of not doing your research carefully and properly, now I know it sounded like I was being a little bit harsh but what you’ve got to remember is the opportunity with an online business is massive and low cost start up – but your main investment is going to be your time – don’t waste it because you can never, ever regain time, once its gone its gone
Don’t Kiss Goodbye to Time
So don’t be fooled into thinking okay low cost start up it doesn’t matter if I fail first time round – that’s just a plain daft approach and the worst thing is when you do start to fail you’ll get fed up, stop marketing and eventually give up – kiss goodbye to the exotic holidays, nice house and flash cars pipe dream – you’ll be heading back to your boring day job!! So listen up do it right from the start.
Let’s Get Started ….
You research a niche by assessing the profitability and competition level of that niche .It is just like any offline business. Before you start out in any particular business, you have to assess the demand for that product, its profitability, price and so on. Internet marketing is no different; it requires you identify what is popular among buyers, what the competition level will be in that niche, how many affiliates are selling that product or service.
How do you know what is popular among buyers?
There are several ways to measure the demand in specific niches on the Internet. By checking out Amazon. You can research a niche by visiting its bestsellers section where you will discover the most popular products for sale. Amazon also has a function called the “wish list” which gives you an idea of what products buyers are keen to buy. Products found in bestsellers and wish lists can help you pick a niche to run your online business. It’s a useful indication as to what is a hot topic of the moment. Look at the explosion in a very old fashioned past time – knitting, its really making a comeback, big-time!
Another method to research a niche is to use EBay pulse.naturally with EBay being possibly the largest auction stores online have a buyer preference pulse. This is where products on popular demand are listed. Again a really great indicator to current demand.
One more method to research a niche in order to discover profitable products and services online is obviously Google itself. Google ad sense is the sponsored listing for advertisers. If you conduct a search on Google for a particular niche, among the results returned, you will notice several paid listings. If there are a good number of paid advertisers on that page, it is a starting point indicator of a profitable niche.
Being Passionate helps
I mentioned earlier that I ventured into a particular niche because I was pursuing my passion. Although I did not do proper research for that niche, it is important to note that for you to enjoy a degree of success in internet marketing; you should operate in niches you are passionate about if its possible and appears profitable – that’s the key
The key to having the best of the best is to combine your passion with the other ways you research a niche. As I’ve said this is just a starting point so watch out for more top tips for niche research coming g soon, until then ….
Get the answers you need? – Leave a comment
Tony
