What Is a Niche and Does Making Money From Niche Ideas Require Niche Research?

November 3rd, 2010 by admin Leave a reply »

That’s a lot of questions about the niche definition, niche ideas and niche research I shall be covering here. So without further ado, here goes…

First, a niche is a crack in the wall by definition. In the online business context, it is an opportunity that exists in the marketplace for a product or service that not many people cater to. A crack in the market so to say.

Now if you are an expert at something… let’s say children’s paper craft… then that could well be the niche idea you could build an online business around. However, it is highly recommended to do niche research before arriving at any conclusion about the niche idea making money for you.

So how do you commence on niche research? Tools on the net come to the rescue. Check out the following parameters. The first is how many people are searching for the term ‘children’s paper craft’ in our case. This is seen in the Google external keyword tool (Google it to reach the site). If the number is more than 3000, that’s great because you’ll have at least 100 people searching for you everyday.

Next, how many sites compete with you in Google? Find this by typing your keyword in double quotes eg “children’s paper craft” and see how many search results the search engine throws up. If it is less than 30,000 you are on a juicy trail.

Third, check if there are ads in the right column of the search engine. If yes, people are making money from that term already and so the word has commercial possibility. Click on some of the sites to see what exactly you can offer that’s new to your niche. Maybe you have great niche ideas for ‘children’s paper craft for Halloween’. Do check the three parameters for that term too!

And finally, estimate the commercial intent for people to buy in your niche by referring a video here on money making keywords. Next you want to set up your niche website and I recommend my blogpost on getting paid to blog as the resource for that.

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