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Tuesday, May 22, 2018

Getting Started in Internet Marketing (part 2) - Market Research

There are many ways to make a living online. But no matter which
route you choose, it all begins with market research. You have
to find a group of buyers who have a common problem or need. 
Then all you need to do is sell them things that solve the
problem or meet the need. 

Market research can be divided into two parts - finding a
profitable niche and finding long tail keywords within that
niche. The good news is that there are many free tools available
to do this. Some of the best tools are provided by Google
itself. So the first thing to do is sign up for an account with
Google. Once you have done that, go to Google's search-based
keyword tool at www.google.com/sktool. Type in the words 'buy,
purchase, order, get' (without quotation marks) into the search
field. The sktool will list out 800 words or terms that contain
these buying keywords together with other useful data like level
of competition, searches per month etc. All you have to do is
choose the term that you feel is most suitable for yourself,
preferably one that has at least 2,500 searches per month. 

Next, click on the icon that looks like a magnifying glass next
to the search term that you have chosen. This will take you to
Google Insights for Search, another free tool from Google at
www.google.com/insights. It will automatically search the term
that you have chosen and produce the relevant data at Google
insights. Scroll down to the bottom part of the page and you
will see other related search terms. Take note of all the
related search terms that you find. 

Now you would have about 10 buying keyword terms in a particular
niche. This basically indicates that there are people searching
for information to solve a problem or meet a need in this niche. 
Next, you should investigate further into how big a market this
niche is and get more keyword ideas. 

Go to amazon.com, ebay.com, magazines.com and clickbank.com. Put
the main keyword of the niche into the search field and see if
there are products that are listed in these websites within this
niche. Chances are you will find products in all these websites
pertaining to your niche. Briefly review some of the products
for ideas - both keyword ideas and product ideas. The next step
is to find long tail keywords. 

To do this, go to Google's external keyword tool at
https://adwords.google.com/select/KeywordToolExternal. Type in
your 10 keywords and it will generate a list of related keywords.
Take note of the keyword phrases with at least 3 words in them
(long tail keywords) and that produce at least 2,500 searches per
month. 

Now go to the Google search engine at www.google.com and type in
the main keyword in quotation marks. As you are typing, Google
will give you related search terms. Take note of the long tail
keywords. Once you hit the search button, Google will list out
all the websites related to your keyword (this is called the SERP
or Search Engine Results Page). Take note of the number of
websites listed (it is listed at the top right hand corner of the
page). You are aiming for keywords with a maximum of 1,000,000
websites. If it is significantly higher than 1 million, then the
keyword is too competitive. Do the same thing with each of the
keywords that you have and choose those which have less than 1
million competing websites. 

For each of the keywords you type into Google, look at the bottom
of the SERP and you will find more suggested related keywords. 
Click on them and you will find even more keywords. Drill down
into the keywords as deeply as you can until you find long tail
keywords with less than 1 million competing websites. 

If you have done your market research well enough, you will now
have identified a niche with ready buyers and the long tail
keywords (about 10 will do) they use to search in the search
engine for information on a product to buy. The next step would
be Product Research and Creation which will be covered in the
next article. 


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