Let’s face it, niche market research, or research in general, is not at the top of everyone’s list of things to do. It’s tedious, time consuming, and not to mention… boring! However, having said this, niche market research does not have to be difficult. In fact, simply by keeping your eyes and ears open to what is going on in the marketplace, are you able to begin identifying profitable niche markets quickly.
If you’re unsure of how to perform niche market research, here are a few ideas to help get you going:
Libraries, Bookstores and Magazines — Chances are, if the niche market you’re interested in is profitable, then you will find books and magazines written about it. For example, if you are promoting something related to living a healthy lifestyle, then you should find materials on this at your local library.
In addition to your local library, magazines.com is another great place to perform niche market. Simply search for magazines that are written on the topic (keyword/s) you are targeting. If there are numerous returns, then you can bet it is a hot topic. On the other hand, if there are few or no returns, you may want to rethink the niche market you are targeting.
Amazon.com — Amazon is another place to perform niche market research. Using Amazon’s search feature, simply insert the keywords related to your niche and see what suggestions it brings back. You can even narrow your search down to books, audios, MP3, Kindle, etc. If you see that your niche market offers multiple formats of the same keywords, then you can bet it is a hot topic. However, The main thing to keep in mind here is “Can I be competitive for the keywords I am searching?”
Ezinearticles.com — EzineArticles is good for finding potential articles authors have submitted about your particular niche market. Obviously, if you discover many great articles related to your keywords, than you’ve obviously found a hot niche market.
Simply enter the keyword/s in their search function and hit enter. For example, for the keyword “niche marketing” we get a return of 29,000 results.
This is obviously a hot topic. By doing a simple search you’ll discover a number of niche markets.
Next, look at the author bios included in the articles you read. Visit their websites and see what type of products they promote. Doing so could give you ideas for potential niche markets.
Forums — Now that you’ve identified a potentially successful niche market, it’s time to discover what people are saying about it online. This is where forums come in. Here’s some of what you’re looking for:
- What’s the “gist” (big picture) of their conversation?
- What are their wants/needs/desires?
- What do they dislike?
- Are there products they are unhappy with?
- More importantly, what do they wish they had?
Trending Tools — In my opinion, one of the best trending tools online is “Google Trends” – It’s free and accurate. With Google Trends you’ll discover what people are searching for, even more importantly, where the market is headed (up or down). This is very important information because it is current.
Keyword Research — Quality keyword research is at the heart of any successful niche market campaign. All the aforementioned niche market research strategies will never take the place of in-depth keyword research.
Personally, I still use Google’s keyword tools simply because they are free and I’ve taught myself how to use them to their maximum effectiveness. If you prefer using paid keyword research tools, check out Word Tracker and SEOBook. Both these tools will provide you with ideas for related keywords, which may spark additional ideas.
Niche market research takes some time and effort. However, it is well worth it as it can save you much more time and effort, not to mention money, down the road for choosing an unprofitable niche. If you are new to this type of research, I suggest that you start with only one or two of these methods, mastering each one before moving on to the next. Just one of these ideas, done very well, is better than performing two or three of them poorly.
“If we knew what it was we were doing, it would not be called research, would it?” – Albert Einstein Click to Tweet