About Market Research

Your market research techniques and especially your market research results should be your top secret . If  you find a niche market that is profitable, don’t publicly broadcast it. The reason is because if people find out that you’ve found a niche that is profitable, they’re all going to jump on it. When this happens, the niche becomes more competitive. When that happens, it’s harder to make money with it. So when you find a profitable niche, don’t share it with anyone.

Now, how do you go about market research? Just to say you have to do it is one thing, but doing it is something else.

Because market research is so involved, it would be impossible to go over how to do it in complete detail. So, what follows is a brief outline on how to go about doing market research.

• Choose a Niche – Decide what niche you want to work on. It doesn’t matter what it is. The key is to narrow it down as much as you can before doing your research.

• Do Keyword Research – Use a keyword research tool such as Wordtracker to find out how many people are looking up this niche on search engines each day. You want to do this to get a general idea of how much demand there is.

• Do Competition Research – Go to the search engines and look up how many competing sites there are. If there aren’t many, you’ll have a decent shot at breaking into the niche. The more competing sites there are, the harder it is going to be for you to break into this niche and make money from it.

• Surveys – Take as many surveys as you can. Go to forums, message boards, discussion groups and so on. Talk to as many people as you can. Find out what they are looking for in the niche you plan on tackling.

These are just the basics, but if you do just this much you’ll have a pretty good idea of whether or not your niche is worth going after.