There are soooo many ways to go about doing market research on the internet. In this article I just want to show you one way to find potentially profitable niches that you can build E-commerce sites around. This process will show you if you'll have enough traffic to make good money and if the market you're researching isn't saturated with competition yet.
If you skimp on market research then your profits will skimp on you buster so don't even think about skipping this step
I've outlined 3 steps you will take to find the niche for your business.
1. Choose a supplier in a niche of your choice 2. Research keywords (www.keyworddiscovery.com/search.html) 3. Research competition (using a search engine)
Find a supplier in your niche
A niche is a subcategory of a broader category. For an example lets look at Health. Health is an enormous category with tons of competition and very authoritative websites. Now we're not trying to become a superstore because it would be very hard to be profitable competing with the big names. So we'll dive deeper instead. What are some sub categories of Health?
So to find a supplier I like to go to Wholesalecentral.com. On the front page there are tons of different categories. Go ahead and choose one you're interested in and start narrowing down to a niche. Once you've decided on a niche we'll move on to the keyword selector tool
www.keyworddiscovery.com/search.html
I found a company that supplies scrapbooking supplies. my next step is to do some keyword research in that niche to see if its going to be profitable or not and if theres little enough competition for me to jump in the game. We're looking for 1000-100,000 searches per month for our initial keyword.
It looks like the number of searches for scrapbooking is roughly 16,000 per month which is great. That means 16,000 unique people are actively looking for things related to scrapbooking. However after typing scrapbooking into Google's search engine it shows that there are 36,000,000 competing pages which way too high for us. were looking for 5 million or less. The keyword tool gave me a few more suggestions though, one of which is scrapbooking ideas. Scrapbooking ideas has 1040 searches per month so lets go see how many competing pages that phrase has.
Awesome! Google shows only 455,000 competing pages for the phrase, scrapbooking ideas. This has some great potential for building a profitable E-commerce site around selling scrapbooking ebooks, materials and how to videos.
Remember the parameters: 1000-100,000 searches per month and less than 5 million competing pages.
Now go to it! Find 3-10 niches that fit the parameters and start contacting your suppliers to discuss your business plans.
If you skimp on market research then your profits will skimp on you buster so don't even think about skipping this step
I've outlined 3 steps you will take to find the niche for your business.
1. Choose a supplier in a niche of your choice 2. Research keywords (www.keyworddiscovery.com/search.html) 3. Research competition (using a search engine)
Find a supplier in your niche
A niche is a subcategory of a broader category. For an example lets look at Health. Health is an enormous category with tons of competition and very authoritative websites. Now we're not trying to become a superstore because it would be very hard to be profitable competing with the big names. So we'll dive deeper instead. What are some sub categories of Health?
So to find a supplier I like to go to Wholesalecentral.com. On the front page there are tons of different categories. Go ahead and choose one you're interested in and start narrowing down to a niche. Once you've decided on a niche we'll move on to the keyword selector tool
www.keyworddiscovery.com/search.html
I found a company that supplies scrapbooking supplies. my next step is to do some keyword research in that niche to see if its going to be profitable or not and if theres little enough competition for me to jump in the game. We're looking for 1000-100,000 searches per month for our initial keyword.
It looks like the number of searches for scrapbooking is roughly 16,000 per month which is great. That means 16,000 unique people are actively looking for things related to scrapbooking. However after typing scrapbooking into Google's search engine it shows that there are 36,000,000 competing pages which way too high for us. were looking for 5 million or less. The keyword tool gave me a few more suggestions though, one of which is scrapbooking ideas. Scrapbooking ideas has 1040 searches per month so lets go see how many competing pages that phrase has.
Awesome! Google shows only 455,000 competing pages for the phrase, scrapbooking ideas. This has some great potential for building a profitable E-commerce site around selling scrapbooking ebooks, materials and how to videos.
Remember the parameters: 1000-100,000 searches per month and less than 5 million competing pages.
Now go to it! Find 3-10 niches that fit the parameters and start contacting your suppliers to discuss your business plans.
About the Author:
For more tips and techniques on online market research and internet business go to the blog of Thrive Learning Institute. Thrive is the leading provider of internet marketing training in the world.
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