In my most recent post, I showed you how I use (aff link) Market Samura to significantly reduce the amount of time it takes me to discover a niche market, as well as to determine if there is a chance that I could rank on the first page fo Google for my chosen keywords.
Finding a niche and being able to rank for it, is all fine and good, however, just because you can set up a site and get traffic, doesn’t mean that you should. What do I mean? Well, put simply, you’ve got to have a way to turn that traffic into profits!
Thankfully, there is a few simple tests that you can do to determine the commercial potential of your chosen market niche.
Using Google
The first thing I do is type my keyword into Google and see what comes up for paid search ads. In the example below, I’ve searched for dog training, and as you can see, plenty of other companies are spending money on ads to reach this market. If there were no paid search ads, I would move onto the next niche on my list because a lack of ads would tell me that there is no money to be made of this niche.
Using Amazon
My next litmus test is to head over to Amazon and search for my keywords to see what kinds of products come up, as well as how many, and most importantly, how many of them have received reviews from past buyers. This is important, because if there are no reviews, its not likely that the product is selling very well.
Using eBay
And my finally litmus test is to head over to eBay and see what a search there will produce for me.
Conclusion
So, in the case of dog training, its very plain to see that this market has immense commercial potential. If it didn’t, you wouldn’t find so many products available for sale.
If you found this post useful, or disagree with any of the points that I’ve made, please provide your feedback below, tweet about it, and share it on facebook. There is no point in my sharing all this information if no one knows its available, and if we can get a discussion going, everyone will benefit!
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One Response to How to Determine if a Niche is Commercially Viable
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Who’s Trent?
Having sold his last business for over a million bucks in 2008 by the age of 38, Trent has since immersed himself in the study of internet marketing by going out and doing. Continue reading...
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That’s a great point. If there is enough money in the market to fight over, there should be people advertising beside relevant search results. However, sometimes you will see advertisements but it may not be a good niche to spend time and money on. That is why it is a good idea to look for niches that have many advertisers.