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To start
and build a profitable online business you have to target a niche
market. By niche market it means targeting a small group of people
who are looking for a solution to their specific problem. No doubt a
patient keyword search is necessary to find out a niche online
market, but it is not limited to conducting the keyword research. A
search for a profitable niche does not end with the keywords.
After
finding the right set of keywords many tend to go straight from the
research to building their sites. After finding the niche market
related keywords, it is easy to create a product or find an
affiliate product, write sales copy with attractive offers and
launching your website. This is a mistake most new beginners are
committing. While keywords indicate the potential for a good niche,
the presence of those keywords alone won't guarantee a success.
After identifying the niche market with the related keywords there
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are some other home works to
do to ascertain the viability of that market.
Without
doing the proper homework many internet beginners spend a lot of
time and money on setting up internet business in a mediocre niche
and then spending years struggling without ever getting anywhere.
There are five criteria you have to check after finding the niche
keywords, to confirm you have found a profitable business niche
worth developing.
Judge the competition of your niche field
All the
keyword research tools would show-up the number of websites
competing for that keyword or keyword phrase. The number in itself
will not represent the true competition. The keyword research tools
will show the number of websites competing for that keyword and will
not take into account whether all the websites are selling anything
even remotely related to what you are indented to sell online. Take
time to visit the good ranking websites for your selected keywords
to ascertain the real competition.
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First
identify the indirect competitors who are ranking for your keywords
and not selling anything related to your niche. These websites are
getting ranking because they contain one or more of your keywords.
It is easy to compete with this larger group of websites. Without
ignoring them try to get clues to how they are ranking for those
niche keywords. This will help you while you build your website.
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The
second group of websites are those who are selling products which
offer the same solution as that of your indented product. Get an
idea of how they are marketing themselves. Judge whether they have
the knowledge and resources to always outrank you. Do they have
professional look website and are customer friendly?
Judge
your real competition and only after assuring yourself that you can
compete with them easily, you need to pursue this niche.
Know the number of
searches for the related keyword
Don't
select a keyword just by the low level of competition. If that less
competitive keyword has only a less number of searches daily, there
is no use in selecting that keyword. The truth about internet
marketing is that you will get only 2% conversion, if you are lucky,
of your website visitors. This 2% is out of your website visitors
and not the 2% of the people who search on the keyword.
If you
select a keyword with less search volume, you can achieve only a
less conversion rate and take more days to get a sale. If there are
only 20 searches per day on your keyword and if you are lucky enough
to get 5 visitors out of the 20 searchers, it will take up to ten
days to make a single conversion or sale. If there is not enough
searches for your key word it is not advisable to pursue that niche.
Calculate the time and money needed to get started
Unlike a
physical store or a traditional business, online business needs only
a small investment. But choosing the wrong niche will end up with
spending a lot of money as traditional business. A profitable
marketing from the beginning itself is a must, for you to sustain in
the online business.
Pay per
click is the best advertising mode to start with. You can get
instant traffic and good conversion to see a sizable profit to
pursue your efforts of developing your website. It is a great way to
get regular traffic while you are putting efforts on search engine
optimization to get organic traffic.
In ppc
careful planning is needed to judge the competition. If huge
companies with a lot of advertising dollars are competing for your
keyword, it will be difficult for you to get top bidding place.
Analyze the competition and calculate how much you have to pay for
your ppc campaign to get your ad near the top of the sponsored
results. Consider how much time it is going to cost you to enter
this niche. Think carefully about the cost and time factor before
taking decision to go ahead with this niche.
Know
the quality of the traffic of your niche
A large
volume of traffic alone is not the measuring scale to enter a niche.
The quality of the traffic matters. In other words whether the
people who make up this niche market are really motivated to buy the
product offered by that niche. If the large percentage of the
traffic is looking for free information, then it is waste to enter
the market.
Search
the engine with the word free attached to your keyword and see the
number of website showing for that keyword. Visit some of the top
ranking site and see whether they are offering products related to
yours for free or is it just a come-on? If people can get a solution
from the free sources, it will be foolish to enter the field, as
people won't pay you when they can get the same thing for free.
Amazon site will give you the insight to the potential conversion
for a product. By seeing the selling trend in Amazon you can
conclude whether people are ready to pay for products that are
similar to yours.
Choose a niche with more growth opportunities
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It will
be nice if a single purchase from a customer lead to more purchases
in the future. If you are selling a single product you have to
constantly spend a lot of money and time in driving new visitors to
your site. So carefully choose a niche where there is more
possibility to offer other products to those people who make up your
niche field.
Search
for the indication that the people of your niche may be looking for
more than one product within your niche. It is easier to sell other
products to your established customer base than selling a single
product to each new customer.
Keyword
search is the first basic thing to do to identify a profitable
niche. Select few niches after an extensive keyword search. Apply
the above criteria to go deep into them to choose the real
profitable niche. Then rank them according to profit potential you
have assigned to them. Don't be frightened by
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the procedure to choose a profitable niche. The more time you spend
initially in identifying the profitable niche the more you can save
on time and money.
