Day 2 of E-marketing school (Market Research)

First Things First - Identify Your Niche

A common mistake 99% of new marketers make is to create a product without first identifying the target market.

Why is this a mistake?

Because they may end up creating a product with little or no demand!

It is far more profitable to locate a hungry market, find out what they want - and give them what they want!

The question to ask when looking for a hungry market, "Is this a hot marketplace full of hungry people with spending power?"

Here's how you can get started.

Start by exploring your own skills and interests, and let them lead you to a niche market with potential buyers.

The whole idea is to discover what you are naturally interested in and good at, and use this as a starting point for your online business.

How To Identify Your Niche

If you are totally clueless and do not know where to begin identifying your niche, you can start by examining your favorite interests and hobbies.

Ask yourself what subjects do you enjoy learning and talking about?

Brainstorm for ideas in the following ways:

- Tap from your knowledge, experiences, hobbies, interests, career, friends & families
- Check out popular websites (click on the respective hyperlinks to visit the website) – Magazines.com, Amazon.com, Ebay.com, - Shopping.com, About.com, Alexa.com for more ideas and also, the latest trends.
- Read magazines, newspapers and watch TV for the latest trends.

Once you've researched your potential niche ideas, you can find out the potential demand for each niche idea by
visiting: http://www.FreeWordtrackerTool.com

… and entering your niche keyword e.g. laptop computer,

Then hit 'enter' and you'll instantly know the daily demand for a search term.

Here is the list of top 10 daily keywords related to
'laptop computer':

1574 laptop computers
561 laptop computer
412 cheap laptop computers
223 laptop computer reviews
215 toshiba laptop computers
176 discount laptop computers
174 acer laptop computers
163 dell laptop computers
150 laptop computer repair
141 used laptop computers

By double-clicking on any of the keywords provided by http://www.FreeWordtrackerTool.com, you can 'drill-down' on that keyword to discover more specific sub-markets.

For example, by drilling down on 'cheap laptop computers' you will generate another list of more specific keywords as follows:

412 cheap laptop computers
76 used laptop computers cheap
23 laptop computers cheap
15 used cheap laptop computers
12 cheap laptop computers for students
12 cheap powerful laptop computers
11 laptop computers real cheap
11 new laptop computers cheap
9 very cheap laptop computers
7 cheap refurbished alienware laptop computers

Do spend some time using this free keyword tool to determine the demand for any niche idea you may have.

Source: Fabian Lim (Founder & CEO, World Internet Academy) and Kelvin Kong (Founder & CEO, Internet Marketing School

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