This is where it all starts! The idea, the thought of going into business of your own. What are you going to promote or sell? Well if you already have an idea, that's good. But if not-then have no fear! With market research or niche marketing, I'm going to show you how you can possibly stumble across a unique brand or niche to promote online with enormous success. Here's how it works:
Market research, or niche marketing, is simply a process of collection and analysis of data for the purpose of study of the requirements of specific markets, acceptability of products, target market and competition and methods of developing and exploiting new markets.
The one key is keywords. The other is the competition. Because you don't want to have to compete with a million other websites of your niche, and you certainly don't want to have to compete with the "big dogs."So what are you going to do? Here are 4 methods that will aid you in an effective market research to where you can find that one unique niche.
Google AdWords: It use to be that one way of doing market research was just starting a Google AdWords campaign with pay-per-click(PPC), and you would be able to determine what keywords is getting you good traffic, providing of course that your campaign was a successful one. With Google AdWords you're having to pay every time someone clicks on your ad. But the Internet is always changing and things isn't what it use to be years ago. Now there's a way to perform market research that is free!
Keyword Search: If you have an idea of what your niche is going to be, then just do a simple keyword search. One tool you can use is Google Keyword Tool, which is a free tool. Just sign-in enter a keyword and it will show you a list of other keywords you can use depending on two things: The number of search, and the competition. You want the search volume to be high, but the competition to be very low. Once you locate a keyword with more than 1,000 searches per month, and at the same time the competition is at its lowest-then you may have discovered what I call a "potential website keyword." In other words, a potential niche that you can center your whole website around, and get started. (A little more on that later.)
Amazon Bestsellers: Another market research strategy is the use of Amazon.com. Amazon has emerge to one of the biggest places online where you can find what people are looking for when it comes to information. So just go to the books section in Amazon, select a category, then select at the top the word "Bestseller." Now you have an idea of what people are interested in. Take notice of something that you can use as a niche to promote as a product, service, or information to sell online. Now your potential niche becomes a keyword to do a keyword search as described above.
Trends: What are the current trends? What are people talking or asking questions about? Trends can be an effective market researching strategy as well, if you can get an idea on what's the next hot thing that people are going to want in their hands. Just remember, the Xbox, the iPod, and the Macbook, as an example, were all just a trend at one time. Once you get an idea, again, do your keyword search. The best way to keep up with trends are website like Blogpulse dot com/trend. Here you can follow what people are talking about and Technorati keeps up with the latest technology in electronics.
Building Your Site: The first thing you want to do is make your keyword part of your domain. You are now going to build your whole brand around that one "killer" keyword, due to good research marketing. You can use your site to sell a product, services, or information? Whatever you decide, I would suggest that you create a blog with your site and off-the-bat, write 3-5 articles on your niche, using your main keyword and start driving traffic to your new site.
Even though market research takes time and effort, it is all well-spent, because sometimes you may be surprise as to what you will decide on a niche. So get busy and go find your "killer" niche today!
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