Then you need to organize your key words and expressions into groups. To do this, you can divide all your keywords into groups of specific keywords and phrases. For example, the phrase “digital camera” could be divided into “underwater digital camera”, “underwater digital camera” and “underwater digital camera”. These keywords could be placed in one group, while “digital camera case” could be placed in “underwater digital camera case” and “digital camera cases” in another group.
You should allocate your search terms to a group with at least 2,000 searches per month. The reason for this is to find a prevailing mindset among groups of people who are currently searching for similar products, services, information, benefits or features. Keyword research and optimization From Wikipedia
You can go a step further and discover even more potential buyers for your products or services by selecting the top ten keywords you searched for. With these ten keywords, you want to try to find a total of 100,000 or more searches per month. Any of your keywords can be added to Google’s Keyword Planner to discover even more specific long-tail keywords.
The next step is to search your list for money-making words. These buyer keywords show that people are willing to pay for information. These keywords include brands, model numbers, color, cheap, buy, sale, supplier, seller, etc. The more specific the search, the more likely customers are to be willing to buy something.
How To Test Your Keywords Live
The best way to test the potential profit of your keywords is to test them on the internet. You can do this by adding content for specific keywords to a page of your current blog, website or social media pages. You can then test each item and see where it ranks in Google and how much traffic it generates.
Using this strategy, you can determine which keywords bring you organic traffic and which ones convert traffic into revenue, as well as which keywords perform best in search engines. The more traffic a keyword generates when it ranks lower in search engines, the higher its earning potential.
Analyzing Your Competition
Competitive analysis is an essential step in choosing your market position.
Almost every business faces competition, either direct or indirect. Some competitors are ruthless, so be sure to be careful when researching the competitors in your niche before you get involved. While it is true that you should be aware of your competition, you should not feel intimidated by them.
Determining How Many Competitors There Are in The Niche
The first step in your competition analysis is to determine how many competitors currently exist in your potential niche. To do this, you can use a simple Google search to figure out which sites are targeting the same keywords as you.
If you find sites that use the same keywords in the URL, title and anchor text, you know there is serious competition for those keywords. You can also use Google Search and put your keywords in quotes to find out how many competing sites there are on the web.
You can use sites like SEOmoz (https://moz.com) to find out the number of backlinks your competitors have. Your main competitors are the sites that appear first in the search engines for the three most competitive keywords in your niche.
Researching the Competition
How difficult it is to achieve a better ranking than your competitors depends mainly on the page ranking (PR) of their websites and related websites. If the average PR of the top ten sites is below PR3, it will take you less than three months to rank for the keyword.
You can use SEO Quake (https://seoquake.com) to find out the average PR of the top ten sites for each of your keywords. To analyze the PR of your competitors, you can create a spreadsheet divided into two sheets, one titled “Preliminary” and the other titled “Market Competition”. Place the first ten keywords on the sheet
on the ‘Preliminary’ sheet. On the other sheet, create ten columns titled “Site1PR”, “Site2PR” and so on up to “Site10PR”.
Then take the first three to five different search terms and place them on the “Market Competition” sheet. Then do a Google search with the first three keywords. Note the PR of the top ten sites for each of the top three to five search terms you listed. Then cross out the highest and lowest PRs and calculate the average PR for each row as well as the total. After doing as much research as you feel is necessary, create a list of all the keywords that you believe can rank high.
Evaluating the Competition
If you think you have found a niche you want to try and if you know enough about it, you can create a report, an e-book, a short article or a white paper that provides basic information about the benefits of your new business’s products or services without compromising your intellectual property.
You can use this free information as bait to get responses from your potential customers. Over the past few decades, internet marketers have proven that people respond best to ethical bribes, where potential customers are offered something in exchange for their email address or personal information.
This is why newsletter publishers offer gifts in exchange for online subscriptions. Many big brands have not yet discovered this tactic, which means you can get ahead of the competition with this strategy.
Consider Your Competition’s Pricing
If you find in your research that there is serious competition for your position, sign up for their email list to see what they are doing. Find out if they sell more expensive products and services or if they offer all products and services at discounted prices. If you discover higher prices, you know there’s a market. If the company has been offering consistent products at higher prices for many years, you know there is a permanent market.
If you discover that the average price of a product in a particular niche has a reasonable profit margin, this allows smaller players to enter the market and co-exist with large, established brands. On the other hand, if competition in the market is only on price and margins have shrunk to a minimum, it is better to choose a niche with less competition that offers better margins.
You should also be wary of competitors offering discounts in a small market. In such a case, you may find it difficult to start your business. On the other hand, if there are multiple price levels in a niche, it may be much easier to not only enter the market but also to gradually increase your prices.
In terms of competition through search engines, the fewer competitors, the better. However, if you discover a niche with no competition, you should be careful as this may mean that there is no money to be made in that niche.
Finding Your Ideal Customer
Your ideal customer is the one who is willing to pay for the solution to their specific problem. This means that you can find your ideal customer by going where they are and offering them helpful advice and solutions to their problems.
There are many ways to offer solutions to your customers, for example by creating free content that encourages them to think of you as an expert. If they see you as an expert, they will be more willing to pay for your paid content. What you shouldn’t do is treat the free content you provide with disdain.
You should think of the free content you provide to your potential customers like the free samples at Costco. A single sample is enough to convince customers to buy the entire product. The whole thing can turn their first purchase into a long-term relationship between a new, now loyal customer and a regular buyer of your products.
And if they can’t keep buying the same product, they may be more willing to try your other products when they become available.
If you always provide your customers with what they need and know them well, you give the impression that you can anticipate their needs. This will create the ideal type of customer who will continue to buy from you month after month and year after year.
The more loyal and regular customers you have, the more recurring revenue you will have. You can start building your email list to test the viability of your niche market by offering a free newsletter, a download or both. This will allow you to promote interesting products and services on a regular basis.
If you can gain the trust of your customers through your expertise, many of them will buy what you recommend. You need to find or create such customers through quality interactions.
Researching and Surveying Your Target Market
Once you’ve chosen a profitable niche, it’s time to focus on identifying the exact pain points of your target audience. You need to identify the most pressing and critical problems related to your niche. If you can identify the problems of your ideal customers, you can offer them the best solution and increase the profitability of your niche.
To identify a need in any niche, you must first look at the problems you are facing in your own life. Take some time to think about what you would like to improve in your life or what could solve one of the problems you are facing. Niche forums or favourite blogs are ideal places to look for these answers.
Yahoo Answers (https://answers.yahoo.com) is an excellent resource to find out what solutions people are looking for to their problems. Quora (https://www.quora.com) works the same way. You can use the search terms “help with”, “cure for”, “advice on” followed by your specific keyword to get a list of questions asked by internet users.
You will get the most profit if you offer a solution to your target audience’s problems, regardless of whether you offer a physical product, service, digital product or information. You can also use Google Correlate(https://google.com/trends/correlate) to find search queries that have similarities to a target dataset. The target can be an actual trend you provide or a question you enter. You can then view the results on the website or download them in a .CSV file to analyze them further.
Utilize Online Surveys
You can use online resources such as Survey Monkey (https://surveymonkey.com), SurveyGizmo (https://surveygizmo.com) and Google Ads to send out online surveys to ask your target audience and find out exactly what they want. The stronger the demand and desire for your products or services, the more likely your target group is to take the survey.
You can use incentives, such as discounts, free downloads or online services that people were expecting when they clicked on your ad, to get more people to participate in your surveys.
Your goal is to get at least 1,000 responses to your online survey to get a good sample of your market. Based on this sample, you can calculate whether enough people will participate in the survey to achieve an affordable response rate. Based on the information you gathered in the online survey, you should be able to target your potential customers :
- Precisely what they are looking for;
- Exactly the way they want it;
- And at a price, they are prepared to buy it for.
The answers you get from the survey will also give you the language you should use when writing your sales copy.
When sending out your surveys, be sure to not only ask questions about the problems you are experiencing and how difficult it is to find solutions to those problems, but also try to get demographic information such as age, employment, education level, etc. You can even ask them how much they would pay for a solution and how they would like it delivered.
There is a qualitative difference between commercial information collected through a survey, for example, and keyword information. Business intelligence can be more valuable because it provides you with accurate and reliable information for marketing and strategy decisions.
The time you spend searching for your niche and ideal customer is time well spent because you will gather enough ideas to create products once you have found a niche that is willing to pay for solutions to its problems.
Building Relationships Within Your Niche
Now that you have chosen a profitable position, it is time to think about building relationships in that position. To do this, you need to identify the top websites, blogs, discussion boards and forums related to your niche.
Take the time to search each of these resources to see what topics are addressed that are relevant to your chosen niche. Make a note of the five most common questions you think are being discussed. This will give you a good starting point to come up with content ideas for your newsletter, your blog, and possibly a free special report that you can provide to potential clients if they give you their email address.
Regularly posting content on your social media networks will keep your followers up to date on the progress of your business and make it much easier for them to pass the information on to those who know and may be interested in your products or services. Make sure to always ask for re-tweets and shares and train your audience to take the action you want them to take when you want them to.
One of the main reasons why you wanted to start an online business was to make money. However, if that is your only motivation, there is a good chance that it will be seen that you do. Unlike a brick and mortar business, people don’t have to be polished on the internet. They may click through to your site, never see them again and never hear from them again. If you can enroll them in an online course or in your newsletter, you’re more likely to communicate with them regularly and build a relationship with them, which in turn helps strengthen your brand image.
Recent studies show that it takes at least 17 exposures to a brand or company before people begin to recognize the brand and understand what it does and what it stands for. Unfortunately, an online company usually doesn’t get a second chance to make a great first impression.
Email Marketing
Your email marketing campaigns are a valuable resource that allows you to communicate with people who have expressed interest in your position. You can use your email marketing campaigns to provide your target audience with various reasons to sign up, such as newsletters and special reports.
When your audience buys a product, you can add it to a new list specifically for new customers. Email marketing definition From Wikipedia
Once you put them on a list, it can be difficult to keep them there. That’s why it makes sense to offer an online course that includes multiple lessons at specific intervals and is delivered via an auto-attendant if you want to maintain lines of communication with your target audience.
If people unsubscribe, don’t take it personally, but see if they give a reason. Some will take the time to tell you why they unsubscribed. Others will leave without ever letting you know if you offended them in any way. You never know what the turning point will be for customers.
Your Social Media Networks
Your social networks can also help you build relationships in your position. People who follow you on Facebook can like, comment and share your information. This means that everyone in their network can also see what you post.
Your Newsletter
Your newsletter gives you the opportunity to regularly send your customers new and exciting content directly related to your niche. You can explore FAQs, offer quizzes, announce new products and services, and more. You can use all the information you’ve gathered from the forums and discussion boards you visit to give them answers to the problems you know they have.
This way, you build relationships and position yourself as an expert in your niche without having to use aggressive sales tactics.
You offer them deals that a customer in your industry would want to buy. You can choose to send the offers individually by email, on a specific day, or incorporate them into your newsletter.
The point is to give your customers answers to their questions and build a relationship with them to show them how you can meet their needs. It’s about staying on topic and offering them a range of options related to your niche.
Conclusion
The best way to succeed with your online business is to choose a profitable niche. There will always be gaps in the consumer population whose demand for certain products and ranges is not being met, giving you the opportunity to fulfill those unmet desires.
A small business like yours can take advantage of unmet needs. The question is how to find the right niche market that will help your small business succeed.
If you have a unique or exceptional product, you can reduce the competition. Researching a niche market to determine if it is viable and profitable requires patience, effort, the right tools and the ability to ask the right questions and understand the answers you receive.
To be successful, you must do your research. If you choose not to thoroughly research your potential niche markets, you are only wasting your time, energy and money. Finding the right niche market for your business is not a complicated process. It will take a little time, but it will be worth it when you start to see your business grow and your profits increase.
