How to Choose a Niche: Top 7 Mistakes


choose a niche

If you wish to build a profitable online business you need to choose a niche your interested in plus it has to solve a problem. People are willing to pay good money to find solutions to their problems even if it’s an irrational fear or to fulfill an emotional desire.

Top 7 mistakes when choosing a niche

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How to Start an Online Business – Market Research

So you’ve found a niche you’re passionate about and found many people are searching for the main keywords related to your topic. You’ve also discovered that you could attain first page rankings in the search engines because your competitors have only a few hundred backlinks.

Why is market research necessary?

1. Protects your online business from costly errors

If you don’t know much about your target market you’ll spend time on off-target strategies. This will cause you to lose money and time on wasted efforts.

2. Increases potential to be profitable

Conducting market research before creating and marketing your product will give you an idea if it’s going to fly.

3. Get to know your customers

If you can get into the mind of your customers, what they’re thinking and feeling it will be easier to craft the right message for them

4. Get to know your competitors

By studying your competitors you don’t have to reinvent the wheel. Your competitor may have already have been in business for decades so there’s no need redo what he’s been doing but find a way you can set yourself apart from him and offer something unique.

For more information on how to conduct market search and write articles to start an online business please visit: Article Marketing Strategies.

Market Research – Will Your Product Fly?

If you want to be sure your product will fly, you need to research your market otherwise it won’t get off the ground. You may lose hope and conclude that online marketing doesn’t work. The key to market research is to find the people related to your product and ask them for feedback.

Here are 7 areas to determine if there’s a demand for your product:

1. Surveys

If you have an email list ask them a series of questions related to the product you’re selling then publish the answers. Use a service such as surveymonkey.com.

2. Polls

If you have a forum or blog run a quick poll then publish the results. Some forums allow polls even allow visitors to create polls.

3. Google Adwords

Create an ad based on your main keyword. For instance if your keyword phrase is “wrinkle cream” create an ad about wrinkle cream that offers a free report for answering your question.

Read
The Definitive Guide to Google AdWords
to learn how to set-up a highly effective adwords campaign and receive instant traffic.

4. Google alerts

Create a google alerts account based on your topic. You can then monitor the discussions taking place in press releases and blogs.

5. Use Google to monitor online discussions

Enter these terms in the Google search box to find your target audience:

keyword+blog
keyword+forum
keyword+discussion groups

6. Hottest trends

If you create a product based on the most popular trend you can be sure you will get a lot of visitors to your product web site. Be aware that these trends are often short lived and very competitive.

eBay pulse
This service provides a daily snapshot of current trends, hot picks, and cool stuff on eBay

Magazines.com
Look for the most popular magazines related to your topic.

Amazon.com
Find out if there are books written about your product. If so, this is a good indication your product is in demand.

The most popular books indicate what people are currently buying. If you’re stuck on for an idea this may be a topic you can pursue.

7. Spyfu.com

This service displays what advertisers are willing to pay for your keywords. If they are paying $10/click you know this product is in high demand. If there are no advertisers for your particular keyword, I’d suggest choosing another topic.

By asking and finding people online related to your product you get a clear idea if your product will sell. The more time you invest in market research the greater your chances of making multiple sales. Most folks don’t research their market enough before trying to sell a product then wonder why it doesn’t fly.

You will be many steps ahead of your competitors if you spend time on market research.

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a dime on advertising.

Read my new ebook “Article Marketing Strategies“…
to learn the most effective ways to write and submit articles.

Herman Drost is the Certified Internet Webmaster (CIW)
owner and author of Web Design, Web Hosting, SEO

Market Research – Will Your Ebook Be Profitable? Part 2

Google is one of the best tools to conduct market research on your ebook topic. It’s the most popular search engine people use to find information. Using the list of the web sites below will help determine if your ebook idea will be a profitable one.

google.com/trends – provides trends of what people are searching for.

www.google.com/alerts – subscribe to google alerts to receive up to date news based on your topic. This content can also be used to update your blog.

Google.com – use quotes around your keyword to display the number of sites in google. Not using quotes will give you a larger number because it includes other words mixed in with your primary keyword.

allintitle:keyword – enter allintitle:keyword in the google search box to find sites that display your keyword in the title of their web site.

allinanchor:keyword – enter allintitle:keyword in the google search box to find sites that display your keyword in the anchor text.

link:www.competitorssite.com – enter link:www.competitorssite.com in the yahoo.com search box to display the number of backlinks for a competing site.

Forums and Blogs
To find a list of forums or blogs in your niche enter keyword+forum or keyword+blog in the Google search box. Participate in conversations related to your niche by interacting in the forums and commenting on blogs.

Survey your niche
Use http://www.surveymonkey.com/ to survey potential customers in your niche.

Per Per Click
Create a pay per click campaign to determine if people are interested in your niche. Write different ads to see which one pulls the best then use this content in your ebook and on your web site.

Read
“The Definitive Guide to Google AdWords”

and

“Find your best keywords using PPC”

Note: Use an excel spreadsheet to display the results of your research. This makes it much easier to view the whole process
and decide what topic you will write your ebook about.

Working through this market research phase will help determine if your ebook will be profitable. You will know where your audience resides on the Net, what the latest trends are, how much advertisers are willing to pay how popular your topic is and if you can make money with it.

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Herman Drost is the Certified Internet Webmaster (CIW)
owner and author of Web Site Design, Web Hosting, Search Engine Optimization

Market Research – Will Your Ebook Be Profitable?

Keyword research is only one part of the necessary work needed to create a successful ebook. You also need to look into the current market to see if your idea will be profitable.

Why wouldn’t your ebook idea be profitable if there are a high number of searches for it?

Many people use the Net for researching information but may not be willing to pay for it. Some of these people may include educators, researches or individuals pursuing their own interests.

You need to visit the locations where people congregate based on your ebook topic. Read their blogs, forums, newsletters and subscribe to current news feeds and trends.

You don’t want to spend 100s of hours creating your ebook, only to find no one is interested in your content. You will have wasted a lot of time and money and possibly come to the conclusion that marketing your information online
does not work for you.

Market Research Web Sites

Listed below are web sites that offer a wealth of information that will help you make a well-informed decision on selecting the best topic for your ebook.

Search It! – provides all the research tools you need in one place
read the review at http://www.isitebuild.com/search-it-review.html

Here are other research tools you can use:

amazon.com – find books written on your subject.

magazines.com – browse the main topics then research the sub topics

ebay.com – use the search tool to see if there are products being offered in your niche. https://adwords.google.com/select/KeywordToolExternal – find keywords related to your niche topic and see advertiser competition.

spyfu.com – displays how much advertisers are willing to pay for your keywords. ie if thee are paying $10/click you know it’s worth developing this subject.

ezinearticles.com – if many articles have been written on your subject, it’s a good indication you have hungry readers.

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Receive fresh, in-depth articles articles on how to design, optimize and promote your web site by subscribing to my “Marketing Tips” newsletter at: http://www.isitebuild.com/

Herman Drost is the Certified Internet Webmaster (CIW)
owner and author of Web Site Design, Web Hosting, Search Engine Optimization