Anyone that tells you that starting a business online using the niche marketing strategy is a sure way to succeed right away is lying. Niche marketing is the greatest way to make money online but you need do some hard work to get it right and create a niche business to make you a lot of profits. And that is what I want to show you on the following 3 simple steps of market research:
- Finding a niche.
The first thing that you need is to find your niche of course, so that we can start to look at the business opportunities based on the topic that you choose. To find your niche is very easy, just take something that you love to do or have a passion for, an example is if you like to modify your car, putting bigger wheels, spoilers, and paint jobs to improve the looks of your car; you could create a car tuning business. You can also take the experience and the knowledge that you acquire on your job and putting all that information a create a product or give a service, an example is if you are a mechanic that specializes on car engines modifications you could write a e-book of how to improve a car engines performance or a guide with tips to boost the power of a car engine. But if by now you don’t have a niche idea or you think that you don’t know how to do nothing on life or if you don’t have a passion for something that you would like to do one day, let me tell you that you are lying to yourself. It must be something that you know how to do better that other people or something that you wanted to do but maybe you don’t have the time, you can take anything like those karate lessons or that course of computer programming that you always wanted to do. Take that desire of something that you always wanted to do and acquire the knowledge that you need to implement it on a business.
- Get the keywords.
Once you have selected a niche to create your business you’ll need to get the keywords of that topic to start the market research and find out which keywords the people use on the search engines to look for the selected niche and you you’ll be able to optimize your site. So now you need a keyword suggestion tool, use http://www.nichebotclassic.com/ and http://inventory.overture.com/d/searchinventory/suggestion/ type in a keyword or keyword phrase related to your niche and you’ll get the most popular keywords that people use on the search engines. You are going to find out also that you will be able to focus your niche even more, what I mean with this is that you’ll find keywords phrases that are very specific a subdivision of your niche that can be easier to market. Like example if you type gaming pc you’ll see a combination of keywords and phrases, so let me choose custom gaming pc for an example, if I create a business that helps people how to build a custom gaming pc I’ll have very good chances to succeed rather than trying to sell all about gaming pc. This is what creates a successful niche business, because is targeted and focused on a specific topic and that means potential customers willing to pay for your product. You have to be specific to succeed on a niche business, in case that the topic that you choose is too wide you’ll need to find a subdivision of that topic trough these keywords suggestions.
- Market Research
Now that you have the most popular keywords on your niche you’ll have to find out the level of competition on that niche and the search volumes. This is the most important part on creating a successful niche business because you’ll find out if there is enough people on that market to target and make sure that the business is going to be profitable, and of course looking at the competition first because if you choose a niche market that is saturated with the competition, is going to be very difficult to succeed, you’ll have to develop a very good site and look at the weakness, mistakes or lack of information of the competition and try improve as much as you can so that you can get a good share of that market, but that is a lot of work so if you don’t want to work too hard let’s focus on a niche that is not saturated and to find out you’ll have to use again http://www.nichebotclassic.com/ here if you click on the right side where you see Google, Yahoo and MSN, you are going to be able to see how many sites there are on each search engine related to the keyword that you are using and also the ones the sponsored links that uses PPC. Another tool to check the competition and the search volumes is this also works for keyword suggestions and you can even see how much you have to pay for a keyword in case that you want to use PPC on Google, here you can compare the search volumes and the level of competition with the keywords related to your niche.
There you have it a 3 steps plan to find a profitable niche business online, finding your niche, getting the keywords of your chosen topic and doing the market research that will decide if the niche is profitable or not. Even if there is competition there is always space for one more but if you want to make a lot of money you will have to improve your site with SEO tools and create a better product or service.
Christian Da Silva is part of the nichetoprofits.com team with Luis Teixeira. Sign up for a 5 day e-course on Niche Marketing and discover a simple way to create profits online in niche markets here:
http://www.nichetoprofits.com If you need an idea or some advice you can check our blog and comment about any doubt that you may have, we’ll be happy to help you as soon as posible, go to:http://www.nichetoprofits.com/blog