Here Are 13 Of My Favorite Ways To Research A Niche, Market, Or Product

One of the biggest mistakes I see new marketers make is to jump into a niche or market without proper research. In the physical world, most people would never dive head first into murky water without first checking to see how deep it is, right? However I’ve been asked by marketers numerous times that are trying to figure out why they aren’t make enough sales online. The first thing I ask is how did they choose their niche. Most of the time, it was because they had a “great idea” that they really liked, or persued something they were passionate about. I then ask what type of market research they did. This is usually where they get kind of embarrased and admit they didn’t do much research. OOPS! I’m not saying that your “great idea” or favorite hobby can’t be profitable. They most certainly can be. However, you MUST do your research first in order to make the best decision! I’ve collected 13 of my favorite ways to research niche/market viability.

Google Trends
Obviously, Google is the search authority, so their tools are always going to be instrumental in your market research. Google Trends is a great place to start. It shows how often a particular search-term is entered relative to the total search-volume across various regions of the world, and in various languages.

Google Keyword Tool
When you have various ideas regarding niches or products you are thinking about they Keyword Tool is a great way to see how many people are searching for your keywords, and also it will suggest other related keywords that will give you additional niche ideas!

Google Insights
Google Insights takes your research to the global level, and breaks down search interest with visual tool that you can see various countries/regions, times, etc. A great way to see if your niche/market is just a local thing, or if it has worldwide interest.

Yahoo Buzz Trends
Although at first Yahoo Buzz seems to be mostly pop culture and celebrity focuses at first (hey, that is what a lot of peopel search for!), you can use the menu to choose various categories that you want to explore. It’s just one more way to identify trends and markets.

Microsoft Keyword Forecast Tool
This is a very interesting one that I just recently started using. It actually uses Microsoft’s data to help predict continued level of interest in various keywords. It can help you see if your target keywords are on a potential decline, or hopefully, a huge increase!

Trends Buzz
This is a cool place where various other trend websites are combined into up-to-the-minute information about top searches!

Ebay Pulse
This one is pretty self explanatory. It shows what people are searching/buying on Ebay. Hellooooo. This is what people want! These are buyers, saying we want this stuff! Consumer Demand Index
Wow, now this is an awesome one! You can see the top 100 hottest product markets and emerging trends. Make sure you use this one. It gets updated very regularly, so it doesn’t hurt to come back here once or twice a month and see what’s hot.

Amazon Gifts Most Wanted
Thanks to a friend for a tip on this one. On the main Amazon page, goto “Gifts & Wish Lists”. Then on the left hand side of the page, look for “Most Popular, Most Gifted, Most Wished For”. These are the things people plan to buy, bought for someone else, or are asking someone else to buy for them. Just like Ebay Pulse, this is a great way to identify things that buyers are hungry for.

Amazon Movers N Shakers
Another part of Amazon that helps you idenfity hot products. Sometimes these things can seem rather random, they might not be specific niches, but you would be surprised at some of the great ideas you can get while browsing through here.

WordTracker Labs Keyword Question Tool
Love this one! Once you have some simple product ideas, niches, or markets, punch the basic keywords into this tool and it will show you related questions that people are asking the search engines! If you can supply a product that answers these questions for people, that is a great place to start for identifying a niche.

Spyfu PPC Spying
This one might be a little on the advanced side for some, but it can be very powerful. There are other tools out there like this, some paid, some free. This one has a free option. What it allows you to do is put in a specific website or search term and then see what PPC ads are being run for it and how much they are paying! Now that is incredible. This can show you exactly what your competitors are up to and how much they are spending. Don’t be afraid of competition. If other people are out there selling it, that means is IS profitable, which is exactly what you want to know.

Another way to check out your competitors. Very cool free tool that tells you what sort of SEO techniques are being used for a specific domain, like backlinks etc.

Well guys, this is a great start to your research. I know it may seem like a lot to do right now, but it is WELL worth the time you spend. Following these tips can help avoid kicking yourself later for getting into a market that will keep you struggling. If you have your own special research techniques that you didn’t see listed here, I’d love to hear about them. Leave me a comment or email me via my blog!