4 Powerful Ways to do Market Research and Uncover a Profitable Niche for Free -original article writers
Aspiring entrepreneurs and small business owners are often misled or misguided on the topic of how to properly conduct market research that uncovers a profitable niche.
The path most unsuspecting entrepreneurs take is by ending up at keyword tool or database to begin their search.
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As a keyword research expert and founder of one of the leading keyword research services on the internet, I can say with firsthand experience that keyword databases are not the first place to look nor should be even considered. Here’s why.
The primary keyword databases that are currently available to the general public only give search counts on a limited amount of data that accounts for 1% – 2% of the actual searches people do around the entire world. They can only predict (emphasis added) the real majority of searches that are being done on the big five search engines such as Google, MSN, Yahoo, AOL and Ask.com which hold 97%-98% of the keyword data.
Most importantly, keyword research only shows what keyword phrases people are using in the search engines to search for answers, not what people actually buy on the internet. Just because a group of people search for specific terms or brand names does not mean that’s what they purchase. That’s a key distinction many entrepreneurs and business owners tend to gloss over.
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When looking for a profitable niche marketplace, your primary focus should be looking for proof of a group of hungry and rabid buyers that want to exchange their money for a service or product (information, physical or digital). Without this crucial qualifier, you may have the greatest product in the world, but you may be lacking a market to sell it to.
This article will present a number of great sources to look at which will give you a running start to uncover a truly, profitable marketplace exists before you go for the gold and put all your resources into a website, product creation or expenditures toward some sort of online property.
Once you establish that you have located a market that contains signs of adequate commerce moving through it, you then have a worthy reason to look further into a keyword research service to find out what keyword phrases people use to find the market you have chosen.
One of the things you’ll want to focus in on is the number of subscribers each magazine has and how long the magazine has been in print for stability purposes.
Make a list of magazines you want to look into and then go hunting for them at one of those large dedicated newsstands that covers just about every magazine on every topic.
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