How I Do Niche Research

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During the years of running my online business I’ve come across a lot of different ways of doing online research.

Lots of the info out there is pretty dumb.

Dumb…meaning…it’s just not info that will help you know what’s good and what’s bad.
Dumb…meaning…what they’re telling you XYZ means, just isn’t true.
Dumb…meaning…”this does not help me pick a niche!”
Dumb…meaning…”I will never do this because there’s nothing at all scientific about what you’re teaching me! and it’s too time consuming and there’s no way in the world I could have someone else do this for me.”

So I’ve developed my own way of doing niche research.

  • it’s very scientific
  • the numbers are super meaningful
  • it’s easily outsourced (just give them this video!)
  • you will uncover GOLD using it

Here it is for you:

Get Flash to see this player.

Here are some myths you’ll hear people say:

  • Use overture to find keywords
  • Look at the number of results returned by google to find how competitive a niche is. For example: (this tells you nothing!)

I use this method when:

  • searching for new niches to enter (I create lots of spreadsheets on lots of different topics)
  • researching within a single niche to find out what keywords I should target
  • researching a market someone has brought to me as a “gazillion” dollar idea

I outsource all of my research.

UPDATE: I had someone tell me that what I said about the PPC ads isn’t clear. I’ll explain.
In general, lots of PPC ads means there’s quite a bit of money to be made in that niche.
If I want to run PPC ads for that niche, then having lots of PPC ads is not good. It means it’s very competitive and probably very expensive. I might want to run PPC ads if I KNOW I’m entering a niche but the pagerank is high and I can’t compete with SEO.
On the other hand, if I discover a niche that has lots and lots of ads, but the pagerank is low, that means that the niche is very profitable (lots of ads = lots of money to be made) and that I don’t have to compete with the high bid prices due to the amount of ads. The low PR means that I can do SEO, get my site to the top, and get the traffic for free. In this case, the “lots of ads” is an invitation to me to enter that niche because it means the niche is profitable.

Filed under Marketing, outsourcing, Reference by  #

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