4 Powerful Ways To Do Market Research And Discover A Profitable Niche For Free

Aspiring entrepreneurs and small business owners are often misled or clueless on the subject of how to properly conduct market research that uncovers a profitable niche.

The path most unsuspecting business owners take is to find a keyword tool or database to start their search.

As a keyword research expert and founder of one of the best keyword research services on the internet, I can tell you from firsthand experience that keyword databases are not the first place to look or should even be considered. . Here because.

The major keyword databases currently available to the general public only provide search counts on a limited amount of data that represents 1% - 2% of the actual searches people do around the world. They can only predict (emphasis added) most of the searches that occur on the Big Five search engines, such as Google, MSN, Yahoo, AOL, and Ask.com, which contain 97-98% of the keyword data.

More importantly, keyword research only shows which keyword phrases people use in search engines to find answers, not what people actually buy online. Just because a group of people is looking for specific terms or brand names doesn't mean that's what they're buying. This is a fundamental distinction that many entrepreneurs and entrepreneurs tend to overlook.

When looking for a profitable niche market, your main focus should be to find evidence of a group of hungry, angry buyers who want to trade their money for a service or product (informational, physical, or digital). Without this crucial qualifier, you may have the best product in the world, but you may be missing out on a market to sell it to.

This article will introduce a number of great sources to peruse that will give you a start to discovering that there is a truly profitable market before taking gold and putting all your assets into a website, product creation, or shopping for some sort. of online ownership.

Once you have established that you have spotted a market that contains suitable trading signals by moving through it, you will have a good reason to further investigate a keyword research service to find out what keyword phrases people are using to find the market. you have chosen.

Let's start by looking at how to identify a profitable market.

Newspapers

One of the best ways to find signs of a truly profitable market is to look for a magazine in that industry. If a publisher has enough money to print and circulate a color magazine, there are likely to be advertisers supporting funding the magazine's ability to circulate all copies, which likely means those advertisers are making sales.

Now, this may lead you to wonder if there is too much competition in a market with so many advertisers selling in one magazine.

In fact, it's a great sign to have competition, which means there is an adequate number of customers to sell to and a sizeable slice of the pie in that market. If there is little competition, it is possible that (1) a suitable product is not being sold in that space; or (2) not have a market, to begin with. The more competition, the more income you can get. Without ever leaving your seat, you can go to Magazines.com and look through the number of different categories to find a profitable topic or industry in which to start an online business.

One of the things you will want to focus on is the number of subscribers of each magazine and how long the magazine has been in print for stability reasons.

Make a list of the magazines you want to see and then go find them at one of those big dedicated newsstands that cover almost any magazine on every topic.

To get a better view of what people are buying in the online world, you will need to decide whether you want to represent physical or digital products.

Physical Products

There are two incredibly large markets that have huge traffic, move large numbers of products, and are great places to find what people are actually buying. Let's start with the first major market.

eBay

On eBay, you can see a list of the most popular products that people buy through auctions or from the eBay stores that sellers have created. For a visual path on how to find the most popular products, use the reference below to view the extended version of this article.

amazon.com

Another really big market is Amazon and it's not just for books. You can find almost all the products and brands of motors and agitators. Again, look at the most popular products in those categories that grab your attention. 

Digital Products

If you want to sell products of a digital nature that do not require inventory and typically result in high-profit margins for affiliates, we recommend that you take a look at Clickbank's digital marketplace which ranks product sales from highest to the lowest seller in each. category.

Just browse the categories on Clickbank.com and you will instantly find the best providers of digital information products, software and subscription services to be found on the top lists. Also, see the reference section below for a link to the extended version of this article for more detailed visual aids and guidance.

Once You've Gathered The Correct Market Research, You Can Do One Of The Following:

Create an online store that ships physical products and merchandise (requires inventory)

Sell ​​merchandise via eBay auctions or its online stores (requires inventory)

Create a site that represents suppliers as an affiliate (no inventory required)

Create your product, service, or software for a digital product (no inventory required)

Having used at least two of the four places above, you can rest assured that you have done the proper market research to find positive evidence of what people are buying and therefore a profitable niche market.

So you can quickly build a non-complex site with a simple product offering, find some low-cost keywords to use in a Google Adwords pay per click campaign with a minimum spend of $ 50 to test the market and see if you have a winner. . . If your initial test results are good, which means you've made a profit from the test, you can invest more energy, do more extensive keyword research, and spend more dollars on advertising. If the test results don't work, find another market until something holds up.

I think this should give you enough information so that you can move towards looking for a market with unlimited profits.

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