Do you think it is about time that you get started with your very own online business? To do that you need a website. And the most important thing of all, you need to find the right niche to market to. This is where an effective niche market research steps in. Because your only chance to become a real online success story is if you would work within a niche and not target the highly competitive keywords or markets.
Let us first explain what is a niche. A niche is a targeted subset of any given market, where your marketing efforts are all focused within that area. There are a lot of facts that you should consider when selecting a niche or a market. For one you can use the price range of your product or service as a starting point. Your niche would then be those people who can afford your price. Another would be to focus on the benefits that your product can provide to your targeted consumers.
The following are five tips to help you improve your niche market research. These are all sources of ideas for your next niche.
1. Use Google’s tools.
Google, being the primary or the most popular search engine in the world, is a good source of information that you can use for your research. It has a number of services and tools that many Internet marketers are using today. Two of these are the free Google keyword research tool and Google Trends. Google Trends shows the currently most searched keywords. You would normally find celebrities and recent events in the results.
The other one, the keyword research tool, is a mainstay in every Internet marketer or search engine optimization expert’s arsenal of niche research tools. If you have a keyword for a general market idea, you can narrow it down better with this tool and help you find the best niches possible. Just listen to an Ed Dale interview and you will better understand how important it is to properly conduct a keyword research to find your next niche.
2. The bestseller lists on Amazon.
Every product department or category within Amazon has a portion called the bestseller lists. It shows you the products that most people are purchasing or rating. Basically it lets you find out what are the hottest products for you to sell or create a website on.
3. Take a look at the Yahoo! directory.
It has been around for a long time and equally, savvy Internet marketers are using it find their lucrative niches. You can start, for instance, by choosing the Yahoo! Autos category and then narrowing down your selection to sedans, trucks, or coupes and then to specific car brands and makes.
4. Magazines
Print magazines maybe losing some sales recently, but they still remain a well of ideas for any market. Each magazine is focused on just one market be it travel, teens, music, electronic gadgets, pets, and more. And just by reading one issue you would find micro niches under each market or magazine topic.
5. eBay and other auction websites.
When people want a product but they want to get it at a bargain, they often resort to using auction sites like eBay. They just place a bid and if they are the top bidders, they get the item usually at much lower prices than what it gets on retail. Now these sites are also showcasing a list of the current trends on the items being sold and bid by the most people. You can then get a good niche out of these lists.
You can learn more about finding niche marketing ideas and other Internet marketing tips by listening to some podcast interviews. These are great learning materials to teach you not just the basics, but some advanced strategies as well.
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