5 Ways To Begin Your Niche Market Research

Posted on November 12th, 2010 | by John Baril |

Do you think it is about time that you get started with your very own online business? To do that you need a website. And the most important thing of all, you need to find the right niche to market to. This is where an effective niche market research steps in. Because your only chance to become a real online success story is if you would work within a niche and not target the highly competitive keywords or markets.

Now what is a niche to begin with? A niche is a more focused subset of a market. There are many factors that you can put into consideration to consider a market a niche. You can a price range so you can limit your target market to consumers who can only afford or want to purchase your product with that range. You can also focus on your product’s one main feature. One example would be the brochure copy writing niche if you are into freelance writing. You get the idea.

The following are five tips to help you improve your niche market research. These are all sources of ideas for your next niche.

1. You can use Google’s free services.

There are two Google services or tools that I frequently use whenever I am on the lookout for nice niche keywords. These are Google Trends and the free Google keyword research tool. The first one helps me in determining the hottest keywords that people are searching for on Google. It is usually about celebrities and important events especially those that just occurred recently.

The other one, the keyword research tool, is one of the best free tools around. It will help you narrow down your chosen seed or main keywords and therefore help you find the next suitable niches. You should focus on analyzing the search volumes, both globally and monthly. If you would listen to an Ed Dale interview, you would better understand the importance of an effective keyword research. Ed has gain a reputation for finding some of the more profitable niches.

2. Look at Amazon’s bestseller lists.

Amazon is probably the most popular shopping website as well as community today. To help their customers find the current best buys, they have a bestseller list on each product category. This is a great start for you to find a niche market idea.

3. Yahoo! directory

The Yahoo! directory has been around since the 1990s and for many years, Internet marketers have been using it to find lucrative niches. For instance, if you want to go into the health niche, you can start with the Health category and, perhaps, select Sleep Disorders. From there you can find other health topics for your next niche.

4. Magazines

If you pass by a newsstand you will probably notice all those magazines with those exciting and attractive titles and blurbs. Magazines are excellent sources of niche ideas because each one is already focusing on a specific market. Just open one magazine and you will find articles that are tackling more targeted niches.

5. Auction websites

Auction websites like eBay have always been popular among online shoppers. Not only do they get bargains from bidding on the products, but they are also stumbling upon hard to find items. These sites are publishing the hottest item trends and from these you can find out what people are interested in and what they are buying.

You can learn more about finding niche marketing ideas and other Internet marketing tips by listening to some podcast interviews. These are great learning materials to teach you not just the basics, but some advanced strategies as well.