Market Research

Ok so you’ve selected your Micro Niche following the steps I outlined in the Niche Marketing section of this website. The reason why I said put together a list of a few of your hobbies and interests is that not all Micro Niches are worth going after as you can spend a lot of time and put in a lot of effort to receive very little or even no money back from your website. The other interests will be your back up plan should the first one you selected not take off.

Please bear in mind you won’t strike gold with each and every website you build however you can avoid the pitfall of going after an unprofitable Micro Niche and save yourself a lot of time and heartache by doing a little more research on how Commercially Viable your Micro Niche website could be to you.

With some Micro Niches you probably already know that people spend money on products and services in that market and that is what you want, a couple of examples everyone uses to outline this point is the Weight Loss and Golf market and these are both very good example to use but to keep with what I’m teaching here I’ll stick with the ‘Learn To Play Acoustic Guitar’ Micro Niche example. Also I wouldn’t recommend you go after the Weight Loss or Golf markets as they are both highly competitive. There may be a couple of Micro Niches you could find within those markets but I find they are discussed too often so too many people will be chasing them. We want to be successful and we also want to stay under the radar from our competitiors.

So back to the ‘Learn To Play Acoustic Guitar’ Micro Niche example you want to do some research on whether people buy products in this Micro Niche. The first place you should go is to Goolge and get some search results for this phrase. Here They are as of the time I wrote this post:

What you’re looking for when you perform this query are the search results which are listed down the right hand side of the page. These are the adverts which people are paying for via the Google Adwords Advertising Program. If people are paying to advertise websites which are to do with the ‘Learn To Play Acoustic Guitar’ Micro Niche then you have found a Commercially Viable Micro Niche.

The reason why you’ve met this criteria is that if those people are willing to spend to get visiors to their website then they must be making more money than they are spending on advertising. Now your mission, should you choose to accept it, is to take as many of their customers away from them and start making money.

 
So What’s Next?

Once you have your Micro Niche and have checked its a Commercially Viable one you then need to start researching how people will look for products and services for this Micro Niche on the internet. The way people find stuff on the web is by entering Keywords into search engines. Look at what I did in the example above; ‘Learn To Play Acoustic Guitar’ is classed as a Keyword and you now need to find out the best keywords to target for your Micro Niche website.

Click to find out more about Keyword Research here.

 
Just a quick overview of Google Adwords

Google Adwords is great at getting you immeadiate traffic to your website. The way it works is that advertisers bid on specific keywords and the person willing to pay the most will be listed at the top and then the next person at the number two and so on. This is all well and good if you have the budget but if you’re just starting out keeping costs down should be your main priority. You can add Google Adwords to your marketing campaign with the money you make from your sales.