The internet is flooded with competition from all walks of life. If you are thinking about setting up an internet business in a general market area you might as well take the money you are about to invest and throw it out of the window. To be honest there’s no way someone new to the internet world can hope to compete, unless they know a few insider tricks.
The only way for a new entrant to make some money quickly is to get your foot in the door with a market niche. Before you take the plunge into any new market, you need to drill down to discover where the niches are.
The definition of a niche is a special area of demand for a product or service; a narrowly defined group of potential customers.
Where do you start? You’ve probably got a few ideas on the type of product or service you want to offer based on your experience or interests or from seeing where others have had success online already. Take this market and think about what broad search terms or keywords people would type in to research it. Now take your search term and run it through one of the internet niche marketing software applications to generate niche keywords.
An easy, free keyword tool is the Google Keyword Tool
Your broad term should generate a list of keyword results. You can take any of those results and search further on them to drill right down to the niche terms.
There are 2 golden rules to follow to select a niche business that will work quickly for you.
Rule 1: People should already be searching for that niche.
Google Keyword Tool estimates how many searches there are on your chosen term. You need to select a niche that already generates some level of interest.
Choose a niche term that generates more than 1,000+ searches per month or 33+ searches per day.
Rule 2: Choose a niche with limited competition.
The quickest way to see how competitive your niche is, is to type that exact niche keyword or phrase into the search engine using speech marks around your phrase. (Whilst people rarely use speech marks when searching, it establishes how competitive the search term is if your site was optimised to match exactly what people are looking for).
The number of search engine results (pages) for your keyword niche should be 10,000 or less.
1,000+ searches a month, combined with 10,000 pages or less will give you the best chance of success with your niche. But if you are struggling to find anything you want to exploit, try relaxing the boundaries a little as you may still reap rewards.
- It’s still worth considering any niche with less than 10,000 competing pages, regardless of how many searches there are.
- On the flip side as long as a 1,000 searches or more are carried out per month, you can increase your limit of competing pages to allow up to 20,000 search engine results.
For example, let’s say you have an interest in fitness and you know triathlons are pretty popular, then try to see if there’s a niche you can exploit. Typing in the phrase triathlon into the Google Keyword Tool gives you many different keywords such as triathlon bikes, triathlon training, triathlon fitness, triathlon wetsuit.
I carried out a further search on triathlon wetsuit and came up with women’s triathlon wetsuit as a possible niche. A search on Google gave me these quick results:
|Monthly searches||Competing pages|
|women’s triathlon wetsuit||1000||175,000|
|women’s triathlon wetsuits||480||33|
|womens triathlon wetsuit||320||296,000|
|womens triathlon wetsuits||210||48|
Whilst none of the keyword phrases fulfil the criteria of >1000 searches and <10,000 competing pages, “women’s triathlon wetsuits” is definitely worth considering as there are only 33 competing pages for this keyword phrase – perhaps you can get to the top in no time!
So get started with your niche market research now and remember the 2 niche finder golden rules to help you make your decisions.
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