Identifying Your Internet Marketing Goldmine

Facebook
Twitter
LinkedIn
Telegram
WhatsApp
Reddit
Email

When starting out in the internet marketing business the first thing which will appear on your mind will be where do I start or how do I decide which market I should enter. You probably ask around and find out some ideas upon which niche you want to start with but which should you actually go for? Let me share a 3 step analysis to help you choose a niche.

  • Demand Analysis

Before starting out in any business, you should know whether there will be anyone who will buy your product else why even start. To start your market research demand online, a powerful tool which can aid you in making you demand analysis is Google Keyword Tool. You just need to type in the phrase or keyword which is related to the niche you would like to sell through your online business for instance “mobile apps”.

Google Keyword Tool will then tell us how many searches there are for your niche. You can specify the location and particular language to cater to the target audience you are looking for. Do not forget to activate the “only show ideas closely related to my search terms” option. Jot down the number down on the global monthly searches.

  • Competitive Analysis

Next, let’s proceed to identify the competition intensity on the particular niche that you are looking for. For competitive analysis we just need to use Google search to indicate the number of sites which are already in that niche. Let’s use “mobile apps” again as the example. Just type “mobile apps” on Google search and you will be able to see the number of related websites.

By using quotation mark, Google will search for websites with the exact match. However, it is not good enough since not all searches will represent our competitors; hence the more appropriate command to use is “allintitle”. Just type “allintitle:mobile apps” will show a better result since Google will seek out websites that have mobile apps as their title. Again, jot down the number that you have acquired.

  • Results Analysis

Now you have two numbers which are demand and competition. You need to calculate the ratio of demand over competition. If you have a ratio of 1 and above it is not too bad but if you are a total newbie a higher ratio like 2 or anything higher than that would be recommended. You will be more likely to have a better chance to be successful in your internet marketing business.

If you feel that no matter how intense the competition is you would still opt for a specific niche then just go for it. This analysis provides an insight and prepares you for the competition you will be facing.

Leave a Reply

Your email address will not be published. Required fields are marked *

What Our Clients Say
482 reviews