Whether you have your own product or you are looking to be an affiliate for some affiliate program and merchant, one of the first activities you need to dive into is doing solid niche product market research and finding those that will bring you a profit. This is before you even think about doing keyword research or strategizing how you are going to market this product. Or implementing those things.
I talk a lot about "Most Potentials" with those I coach. Everything starts there.. Potential is very important with any online endeavor to first pin down. But observed potential can be deceptive. It can be something that the casual observer will consider being great, but when you dig into the data and take the time to study it, it's not so great.
The way you gauge whether a market niche is worth going after is based on criteria you set for yourself that shows if there is demand and how 'hot' an item is in the marketplace.
Seeking Those that Take Beneficial Actions
Not every market or product is created equal though. Not every product will convert well. Not every product carries demand. Not every product do people search for with the intention to buy.
You can have a TON of search volume and no buyers. And you can have a little search volume with A LOT of buyers ready to click through your affiliate link to buy or to buy your products. And everything in between. Product market research can help you determine if there may be actual sales in an endeavor.
Traffic Numbers or Visitor Counts Matter Less...
Would you rather get a 100 visitors a month that convert at 10% OR a 1000 visitors per month that convert at 1%... "Wait, there's no difference!?" Point is, there's a lot to consider and how many people are searching or finding your site isn't the greatest factor.
Sometimes traffic, demand and conversions come all at once, are cyclical OR some are more evergreen and are more stable over time. Every market is different; if you were to compare market niches to anything, you'd compare them to finger prints. No one is ever identical.
Make it a Higher Priority to Research...
In the end, to increase profits and to shuffle more money into your bank account, you can't ignore the market research up front. Don't just pick something in hopes that it will turn into something golden based on some abstract or lazy process. Don't be to random and nonchalant about the process. Take it seriously, take the time and pick something with the "most potential".
Otherwise, you might find yourself with a LOT of traffic and no money to show for it.
-Matt Levenhagen
Learn more about how I do market research and more at Xtreme Profits.
Niche Marketing - Niche Research
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