Choosing A Niche
Choosing a niche to market too can be a daunting task. Everybody seems to have a different opinion about the correct way to do it. I mean really if you get right down to it you find a product that pays a high commission and there is your niche, Right? Wrong wrong wrong.
Yes a high commission is a good thing but if there are no buyers for this product where do these commissions come from?
This is where a little market research comes in handy.
There are several ways to go about this. I have tried this from many different angles and I really don’t there is a 100% fool proof way to get it right 100% of the time. If I am wrong please leave a comment. I would love to hear of a way that works every single time.
Here is my method to choose a niche.
First spend some time with a piece of paper and a pencil. Start writing down things you enjoy. Your hobbies, your skills, things that excite you when you hear about them. Events that you can’t wait to get to. I mean really let your imagination run wild here, there are no rules. NONE. If it crosses your mind and it’s something you either like or are good at then write it on that paper. Don’t stop stop until you have at least 20 of these ideas in black and white.
Next step is to open Googles Keyword Research Tool. This one is free to use and it works just fine. One little trick to note here is if you look at the upper right hand corner of your screen you will see a sign in link. If you click on it and sign into your Gmail account you won’t have to fill in the captcha every time you search for a keyword.
You might want to open a spread sheet here or you can just write these numbers in different columns beside the keywords on the paper. But do a keyword search on each niche you have chose and write the global monthly search beside it. Pay close attention to the keywords below the main keyword because they might give you some ideas you never thought of before.
I’ve heard only use the the ones that have a monthly search of 2,000 or more others say 10,000 or more. Personally I think it all depends on what niche you’re going after. Either way it’s a probably a good idea to not even consider using the ones with less than 2,000 searches per month. Actually for now Stick with 5,000 global monthly searches or higher.
Next we move over to Google search. Again look for each keyword. Use quotation marks to get a more accurate account of how many sites are using the keyword term. For instance if you are searching for horses then in the search bar put “horses”. Right above the results there will a number of results which is the number you will want put beside the niche. Pay close attention to the drop down here as well too. each time you type a letter you will see different keywords pop in. Hmmm. More niches to consider right. Okay everybody seems to kind of agree here but I stand firm at 100,000. If there are more than 100,000 results I tend to leave it alone. It means there is a whole lot of competition to deal with.
Now we see how many people are looking for this information and how much competition there is. Now it’s time to go check the marketplace and see what people are actually buying. Again many different ways to do this. I generally check Clickbank and Amazon. Another good place to look is Dummies.com. I don’t want to get involved here with the numbers but you can visit these sites and get a feel for what are the hot sellers on the market.
While you are at these sites pay close attention to the available products associated with your niche. If you are just getting started you probably don’t have any products to sell yet. You will need to sell other peoples products until you have a chance to create your own.
Remember Google is your best friend when it comes to getting your questions answered. I might write a post later on this subject but for now I think it would make this post way too long.
So you have now done your market research.
How do we use these findings?
Well if the numbers in the first couple of steps look good but there are no products being sold in that niche in the marketplaces, ie Clickbank, Amazon, etc., there is no sense in entering that niche because no products are being sold.
If the numbers did not look good in the first couple of steps then I have just one question to ask you.
What the heck did you even write them down for? LOL