Find a Niche Market
53How to Find A Niche Market
You may think you have a brilliant product idea to sell online, but what determines a great product? Before you even think about creating a product you need to be sure there is a market willing to buy your product. It's all well and good to create a product but if there is no market for your product you're not going to make any money from it. This is what we call finding a niche market.
Just how do you go about finding a niche market? Some great resources you can use to find a niche market include popular keyword research tools, such as Word Tracker or Google's Keyword Tool. You can use both of these tools to find out popular keyword search terms. Google's keyword tool also allows you to check the amount of competition in a particular market which can be invaluable when deciding on your niche market.
Another fantastic keyword research tool is called Hexatrack. Hexatrack allows you to monitor particular keywords and basically spy on the competition. I highly recommend you got and check it out. Best of all, it's free.
Once you've found what you consider to be a potential niche market, next you want to research what that market is after. You can do this by running online surveys that ask your visitors a few questions and from this you can determine how worthwhile it will be for you to develop a product in that market.
More on that next time. For now I suggest you visit http://www.moneycreature.com to get more great ideas.
Survey Your Niche
Of course once you’ve found an appealing keyword with an acceptable number of keyword searches and good level of competition, how do you know if there is a market willing to spend money in this niche?
A great resource you can utilise is Survey Monkey. You can sign up for a free account and prepare a survey asking questions of your particular niche. One important question you need to ask, is how much they would be willing to spend on an information for their particular niche. The more questions you ask, the better.
A good indicator as to whether a viable market exists is by driving traffic to your survey page using google adwords. If you get a good response from your survey and a number filled out the survey and submitted this is great indication that there is a market worth investing your time in. If you really struggle to get visitors to the site, then this indicates it’s probably time to move on and search for a different niche.
Here’s where you can get more of my marketing tips for free:
