Netpreneurship 101 @ eTrafficTutor.com
How do you identify the market?
Here's where we get into the tools that you will have to master. But don't worry! This is the Internet – almost everything can be found for free. And, there's nothing complicated about it.
Remember: A niche market is a subject area that has lots of customers but not much competition.
In one of the next lessons we'll talk some more about an extremely important subject called: keywords. But I have to bring it up here to start looking at the market. Keyword analysis will help you to identify the markets where there is a high demand for information. Then you can analyse the competition and see who's out there.
You will have to identify keywords for your website. For example, if your content is about cars, you can guess that there will be a lot of demand for information about cars and a lot of potential customers for you. But on the other hand, there are millions of websites about cars. To put it briefly: 'cars' is not a good keyword for you. There are two websites you have to go to.
#1 is Trellian Keyword Discovery tool which will give you something like this:
#2 is: Google search engine to see what the competition is:
Yes, there were over 1.3 million searches for information about 'car' but the word 'car' was used in over 700,000 expressions. That means that it's a very general subject and if you want to sell anything you'll have to be more specific than that.
Note that for example, 'cool cars', 'fast cars' and 'muscle cars' are all search terms that are fairly popular with car buffs. The keyword tool shows you the relative popularity of search terms. You can then use those words as important keywords in your content.
But, there are over 850 million web page references to 'cars'! That's nearly one billion and that's your competition!
So, what I mean to show here is that you can't pick a subject that's too general in scope.
There has to be a way to narrow it down to something more specialized. But you have to bear in mind that if there's only you and two other people in the world interested in the subject, it doesn't make for a very wide customer base.
On the 'cars' example, we'd try: 'antique cars', 'muscle cars' or 'vintage car restorations'. If you specialize in one make of car you would definitely have to include that in your keyword expression, something like 'Ford Mustang cars'.
The idea is to address as wide an audience as possible and to be one of the few good websites doing it.
Finally, here's a technique that should not be neglected: 'competitive intelligence'. Look at what the competition is doing. Once you've settled on some keyword expressions, google them to see what other sites are doing with them, what kind of page they built, how many times they mention the words and so on.
You study the competition to imitate what they do right and avoid what they do wrong!