BizMart 2010

Most internet marketers have a backwards approach to market research.  They have a product, either their own or an affiliate product, then grab a bunch of keywords to “market” their product.  By doing this they end up with some keywords that work and a bunch that get deleted from the campaign. 

This “hit or miss” approach can also lead to failed campaigns.  You may have a fantastic product but if the market is too small or, even worse, doesn’t spend money… Then it’s back to the drawing board.

A better plan is to do your market research FIRST.   If  the market is big enough and spends money you can find a product to answer the needs of the market.

As an example, say you want to research the crafts market in the knitting niche.  You research knitting and find that niche is healthy about 27 million listings on Google.  Knitting is way too broad to base a campaign on so you drill down to knitting hats. Now you are down to about 25 million listings.  If you drill down even further you find a sub niche “knitting hats for beginners” with about 4.5 million listings.  You want to find niches that have over 1000 searchs and around 25,000 or fewer listings.  The number of listings is how competitive the niche is.

Now you can proceed to the next step – Do They spend money?

There are several ways to see if the niche will spend money.  If you go to amazon.com, ebay.com, clickbank.com or any large sales type site and type in your keyword phrase.  If there are a lot of products then you can safely assume the niche spends money.  If you find very little products it’s time to move on to another niche.  You don’t want to waste your time if there is no chance to make money.

This is a quick overview of market research.  For a much more in-depth study – A blatant plug for my FREE ebook – just fill out the form on the top-right corner and get ready to find your next money making market.

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