"4 Ways To Discover If Your Niche Will Make You Rich?"
So how do you research a niche to determine if anyone is
interested in it?
This is probably the most important question you need to ask
yourself before you even think about building a business in a
niche market. If a niche is too small or if the niche does not
use the Internet to buy products, you are going to be have
trouble from the start.
Here are a few things EVERY niche market MUST have to make it a
potentially profitable one to go after.
1) People within the niche must be passionate about their topic
of interest. You can find people like this by searching in
google for the keywords "yourpotentialmarket forum",
"yourpotentialmarket chat", "yourpotentialmarket club" and so
on. You want to find groups of people who regularly visit
websites where they can chat among others who enjoy the same
topic. (Obviously replace yourpotentialmarket with a keyword
from your niche market).
2) People must have a credit card or at least money available to
spend. You can spend all the time and energy you want trying to
sell ebooks to college kids, but you will be lucky to break
even. College kids are notorious for not having expendable cash
and you will have a hard time selling anything to them. Focus
your energy on markets that have lots of money to spend such as
golfers, doctors, business owners, etc.
3) Competitors. If there are no competitors in the market you
are looking into, walk..no run, to the next niche market. Do you
think you are the first person who has ever tried to sell to
your newly found niche market? Think again. 99.9% of the time if
there are no competitors to be found for a market, it means
there were people trying to sell to them and they failed, thus
no longer being in business. A good way to see if you have
potential competitors is by searching in google for keywords
within the niche you are looking into. If you see a couple of
google ads on the right hand side that are selling products
similar to what you had in mind, it's time to get excited.
Don't try to be a hero and invent a new product nobody has ever
seen before. Instead, look at what is ALREADY selling and find
ways to make a better product.
4) Finally, research your keywords. There is a free tool that
can give you a good idea of how many people are searching for
keywords related to your potential niche market. You can find it
at http://inventory.overture.com/d/searchinventory/suggestion/
Simply enter a few keywords related to your market, and if
there are anywhere between 1,000 and 100,000 searches for that
keyword per month, you may be on to something. I just did a
search for "small dog clothes" and last month close to 5,000
people searched for information on clothes a small dog would
wear.
These four steps are the main criteria you should use to
determine whether or not you have a potentially profitable niche
market. If you go through all four of these each time you
research your niche markets, you will have a much better chance
of success. As always, once you find a possible "hot" niche
market, you will need to build a product to sell to them. Which
you can discover in my most recent article "How To Create Niche
Information Products At No Cost To You!" http://www.pr
ofitattractor.com/art091705.htm