A Step by Step Guide to Finding A Profitable Niche Market- Step 2

Having covered step1, we now know how to brainstorm ideas related to what we already know, following this step we must now start to segment these ideas into markets and ultimately into smaller modules or a niche market and perhaps even further into a micro niche market.

Remember your niche market doesn't have to relate to your interest or hobbies, however it does help especially for newbies building their first site.

Step 2.

So by now you should have at least 1 market (interest, hobby, job etc) written down, for ease we'll call these your main markets. The next step I use, is to open up 'Google keywords tool', its free, just Google it, or copy and paste this link 'https://adwords.google.com/select/KeywordToolExternal' into your address bar at the top of your browser.

Now enter your main markets into the Google keywords tool one at a time check the 'use synonyms' box and click 'get keywords ideas', for this example I'm going to use the market (keyword) 'Plumbing',why not do this yourself while we continue with this article.

OK, so we do a search in the keyword tool and up pops a list of relevant keywords. Now take a keyword which has less relevance to your original keyword, but still makes sense, for this example I've selected the term 'learn plumbing'.

Now open another window and put 'Plumbing in the search box you will get back around 60,000,000 results, now if you enter the term 'Learn plumbing' you will get around 500.000 now that in effect is a niche market, however this is still a big market with a lot of competition so I then added bathroom into the mix, I,e: 'learn bathroom plumbing', now you can see the results have dropped to 284,000, not bad for two minutes work.

So now you have your first possible niche market, now repeat the process using some of the other relevant keywords in the keyword tool until you find a market small enough to serve and obviously big enough to profit from.

If you have some other markets (interests, hobbies etc) do the same with them until your happy with the results, try and add or combine some other terms into the mix like adding 'bathroom' to the term 'learn plumbing'.

Remember there is no right or wrong way to find a niche market, and I'm sure many will have a better way of doing things, but this works for me, and it can work for you, & hey, its quick, simple and free so I'm happy.

Now we'll move onto researching the competition in your chosen niche market and why some competition can actually be a very good thing, so don't fall into the usual trap which many so called gurus teach, marketing to a competition free market is more often than not a waste of time, and I'll explain why in step 3.

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Now take a look at the next article:

A Step by Step Guide to Finding A Profitable Niche Market- Step 3 Return To Step 1

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