Niche Market Research - 7 Easy Steps

Internet marketers are always talking about niche market research as if it's a guarded magical process that only a few insiders truly understand. Well, we're going to show you a quick and easy, step-by-step process for doing niche marketing research that you can start using immediately.

How does that sound?

Pretty cool, huh?

So, let's get started.

Step One: Your Goal

The goal of this process is to come to the end of it with a brand new niche market that you know you can go into and start making money almost immediately. It'll be a hungry market, with hungry buyers, and enough openings for you to slip in without anyone noticing.

Step Two: Amazon.com

We're after a clearly defined niche market that is already populated by a group of hungry buyers. So, we're going to start at Amazon.com. At the top of the first page, next to the search box, select the book department, and go. In the left hand navigation column, you'll notice all the different book topics. Pick one that interests you. Let's say, Parenting & Families.

Now, you'll notice a new set of topics in the left hand column. Pick one. Let's say, Family Relationships. And from that navigation column, let's choose Divorce.

Step Three: Reviews

Our first glance at the books on divorce will focus on the number of reviews for each book. Reviews indicate a market that's involved and active, which is what we're looking for. At the time of this writing, you'll see review numbers such as 149, 29, 90, 30, 62, 42 and so on. These are wonderful numbers. They demonstrate a clearly-active group. If you were seeing much smaller numbers, let's say in the 0-10 range, then you'd have to be a little concerned about your market. Though it's only one consideration in this process.

Step Four: Titles

Next, you want to take a look at the titles. Even though this section is about divorce, you'll find titles such as How to Survive the Loss of a Love, and The Good Bye Book: How To Heal A Broken Heart In 30 Days, and Rebuilding: When Your Relationship Ends. These are all possible sub-niches. Not just about divorce, but how to survive the loss of a relationship. So you might want to note these potential sub-niches for future reference.

Step Five: Amazon.com Numbers

Next, you want to take a look at the sales ranking of these titles. Helping Your Kids Cope With Divorce is #3,670 in Books. This can be found by clicking on the book cover and moving down the page to the section title Product Details. Amazon.com Sales Rank for this title is 3,670. Since they carry millions of titles, this is an excellent ranking. Make note of it.

Step Six: Dummies

Does the topic have an Idiot's Guide or a Dummies book? In the case of divorce, yes, there's a Divorce For Dummies title. This is a plus. It demonstrates that research has already been conducted in this niche and the folks behind the Dummies books felt it was a profitable niche to go after. It's not devastating if there isn't a Dummies title in your niche, but it's a definite plus if there is one.

Step Seven:

Check out the competition. If you enter "divorce" in a Google search, you'll find that there are over 66 million pages on the Internet with that word in the content. You can't compete with 66 million pages.  You'll never be seen.  So you want to find a niche within divorce that you can go after. To do this, go to the Google External Keyword Tool (https://adwords.google.com/select/KeywordToolExternal) and enter the term "divorce." Then start going down the list and entering the supplied keywords into a Google search inside quotes (for example: "divorce dating") until you find a group of keywords without tons of competition.

Now you've done your niche market research and you've got yourself a niche market.