Step 1 - Find Out What The Market Needs
Find out what the market wants or needs means identifying todays
problems & how to solve them.
Identify what potential buyers DO NOW online to help solve problems.
Try these sites:
Find pools of hungry fish with money to spend. What sites, ezines,
lists and boards do they visit & subscribe to.
Niche Options
- Find a Niche and Fill It
- Create a Niche
- Deliver to poorly serviced Niche
Ask the following questions
- How do I know what I should be selling?
- How do I know if someone wants what I am selling?
- How do I get the right message out to the right people at the
right time?
- How can I create a business where price is not an issue?
- How can I protect my business from copycats?
- How can I grow my business over time as my niche changes?
- How can I grow my business around a single niche but have multiple
profit centers?
- How do you do it differently?
- What is unique about the way you do business.
Don’t start targeting the top keywords. Start with keyword
search phrases that start with: How to, Get rid of, Quit and Get.
This gives better niche results.
Step 2 - Define A Niche To Fulfil The Identified
Market
Demographics - What kind of company is it that
you sell to? Is there an industry description that includes size
and location? For individuals you might want to find out what kind
of income level, gender or education, etc.
Psychographics –mental profile of a potential
customer. What kind of values do they have? What category of interests
do they focus on? This becomes a buying profile for the market when
you can match a psychological profile to the market’s wants
and needs.
Problems/Opportunities - Why do they need your
services? What benefit do they receive if they use you? What is
not working or what do they want to work better?
Distribution of Your Products – Finally,
you need to know where you can find them. Where do these companies/people
cluster? What do they read, where do they network, and what form
of mass media is connected to them?
Step 3 - Define Product or Service Profile Targeting
the Niche
- Target Market – The market that you
have identified. This lets your listener know your offering is
for them, not someone else.
- Problem – Explain the problem and pain
your market is suffering from.
- Solution/Benefit - Tell them the solution
and benefit to the problem
- Uniqueness - Tell them what makes you different
from your competitors.
Practice this as an "elevator pitch"
Step 4 - Analyze Keywords Relating To The Niche
To ID Keywords
Brainstorming, Keywords And Niche Analyzing Software
To Analyse Keyword Effectiveness
To ID Current Ads & Max/Average Bid
To ID Current Top Ranking Competitors
To Analyze Competitor Site Effectiveness
Step 5 - Identify Demand For Solution
PayPal.com
- Click on Shops link at the bottom of page.
- Click on category of the product you're researching - displays
top shops in category, ranked by volume (sales via PayPal).
Google
Groups
- Type name of a product in the search box,
- Find news groups discussing the product
- Click on the links and find out how many people are posting
to those news groups/interest in the product - Find groups with
over 1000 members
Amazon.com
Click on the Top Sellers tab - Most popular items by category,
and updated hourly
eBay.com
- Type name of a product in the search box,
- Click on the Sell tab at the top of the home page/Seller Central
link at the bottom of the Sell page/Hot Items by Category link.
- Using Ebay Category Master list - Click on anyCategory –
see all sub/subsub categories. Each sub/subsub is an entire niche
in itself. Ebay is a niche location tool.
Ebay
Pulse - Trends
New Research Section - Pro Subscription $24.99/month
Overture Search Suggestion
ID High Volume Searches - >50,000 searches pm
GoogleNiche
SW
ID 5 per Ads Day with>two Adword ads to affiliate links/minisite
for at least 8 days
Adwords cost-per-click estimator tool / GoogleNiche ProfitFlash
GoogleNiche Analyser Tool - Enter any search
phrase - tells Adwords advertisers using affiliate programs for
income; whether links are direct or indirect (using mini-sites);
which ads been around > few days
Google Adwords Searches
- Keyword
Selector Tool -specific and related keywords searched for
past month and bids.
- Select
- Filter out unrelated, duplicate and unwanted keywords to form
the Master List
Step 6 - Assess Competitor Sites
You can assess competitor sites using standard search engines -
for example, Googles -
Advanced Search Mode
Define exactly what you want your SE to return using prefix:keywords.
Leave NO SPACE after the colon:
- intitle: - ONLY Results with word in title
- allintitle: - ONLY Results that have the keywords
in the page title
- aillinURL: - ONLY Results that have ALL the
keywords in the URL
- link: - Shows links to specified webpage
- related: - Shows pages that are similar
# Competing websites in Google, where keyword appears in page titles.
Indicative of ‘true’ competition of niche - website
have keywords in page title. The lower the number of AllInTitle
results, the less competitive the niche.
Top 1, 2, 3 and 10 ranked web pages in the Google search results
for the keyword. Studying the top ranked websites closely.
Tools & Templates
Analyze
Keywords On Specific Pages
Assessment Sheet
Use an assessment worksheet to track and organize information on:
- Date Launched
- Back [Incoming] Links Data
- Site Design
- Visual Content Quality
- Subscription Newsletter
- Membership p.a.
- Affiliate Program
- Metatags, Keywords Used & Content Relevancy
- Changes in Content
Step 7 - Analyze Keyword Profitability
Once you have all the available data, you are able to determine
whether or not this niche is profitable. This is where you Sales
Targets set in the previous section assist in making a GO/NOGO decision.
Perform in-depth keyword profitability & competition analysis
requires the following data:
• No. of Words in Search Term
• Average Bid Price
• Searches
• Results
• KEI
• Number of Google Ads
• All InTitle Results
• KEI2
• PageRank of the #1, #2, #3 & #10 ranked web pages
• Back Links of the #1, #2, #3 & #10 ranked webpages
• URLs of the #1, #2, #3 & #10 ranked web pages
From this you can identify the competitiveness of each keyword
and the likely revenue.
- Niche
Popularity - Whether a niche is ‘in-demand’
and the actual popularity data.
- Average Bid Price - The price website owners are willing
to paying to display their ads on Google Search Engine. Higher
av. bid price = higher potential earnings.
- Yahoo Max Bid Ad Inventory - Gives list of Advertisers
& Max Bids
- Google Ad Inventory - Higher number of Google Ads =
more competitive the keyword for PPC marketer. Hgher number of
Google Ads = more potential advertising revenue for Google AdSense
publishers
- Niche Competition - To profit from a niche, must dominate
the niche… "beat your competition" for top rankings.
The more "popular" a niche, the more competing websites.
BUT it’s the quality that matters
Tools & Templates
You can analyse this by going to each site and getting each subset
of information or use one of the keyword research tools above that
also give adwords and site competitiveness information. I personally
use Keyword
Elite.
NEXT: 4 - Develop A Product
Set
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