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The Lowdown on how to research a niche
Hmmm, you say, I’ve decided to do my niche about dogs. Now the real work begins as you need to know how to research a niche about your chosen product.
Today we will go into the ins and outs of how you can go about learning whether your niche has the potential to be profitable or not.
Market research is going to be essential for you to learn how your chosen niche will work to your advantage.
The type of content that you can write and whether you have a viable range of products to promote to be able to create a successful website business.
The crucial first step that you will need to learn is to be able to understand your niche that you have chosen to start your business in.
If you can’t, then how will you be able to compare yourself against your competition and be able to make yourself relevant to your customers?
The more you can understand about your business right from the start will be the best for you. You’ll need to drill down deep to find out what you will customers are asking out there so that you can help them.
If you find that your niche is extensive, you may want to go even further and go into a specific sub-niche that is more relevant to your particular personality, such as concentrating on just dog toys, for example.
Competition in your chosen niche is forever changing. The significant difference between researching your own business and that of the competition is you don’t know what they’re going to do in the future.
With the data that you can check up on your competition will help you work out their pricing structure and what makes their business unique from everyone else.
By learning how the other marketers are structured will help you build your brand into an authority site to be able to play with the big boys.
Can You Get Enough Traffic?
Now you have to work out before you start you is whether you can get any traffic to your site and which types of traffic you are going to use.
There are plenty of ways to get traffic to your site; you have to decide what will be your favorite method and whether it will be viable to be able to drive the amount of traffic that you need.
Here are just a few of the most popular ways to drive traffic.
- Paid traffic
- Forum communities
- Social media platforms
- Writing blog articles
And this is just a small tip of the iceberg. It’s up to you which avenue you choose.
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Here are some ways to go about it
- Check out the associated websites in your target niche and see if you could exchange guest posts; this will help with your credibility and create ties with other publishers.
- Check out all the various social media pages and see if you can join in with the discussion groups. This will be invaluable for finding new ideas to write about.
- Are there Facebook groups out there who you could share your content with?
These are just a few ways to go about driving traffic to your site, explore around and find your opportunities.
Paid Traffic Advertising Is It For You?
For those of you who have money to burn, you could turn your attention to paid advertising. There is certainly no shortage of places to advertise.
Here is a list of 7 of the most popular ones
- Bing ads
- Yahoo ads
- Facebook ads
- Pinterest ads
- Google Adwords
- Banner ads
- Solo ads
Which on you decide to go with will depend on your type of niche. For every niche out, there is a traffic source; it just depends on whether it will suit you or not.
Some of the factors you should consider
- Does your niche work well with banner ads?
- Some PPC marketers have a lot of money to burn, can you afford it?
- Is your niche suited for email lists or not?
Before you choose a paid traffic source, do your research to see if it will suit you or not. If you are starting, I would stay away from this type of traffic.
A lot of businesses will rely on interactions directly with their audience to find out what they are after so that they can better target their niche.
But there is a lot more than you can learn in the way of research to help you get a better idea; for example, you could research proximity, demographics, and regions.
And say the audience were all coming from a specific area in your state you could use this information to run a targeted campaign to be able to increase your audience base.
You could run a Google AdWords or maybe a Facebook ads campaign so you can test whether the product that you are advertising will perform well in the target market that you were going after.
This will also be a test to demonstrate how well you know your target market.
Understanding Your Niche
It all comes down to how well you understand your niche. Being able to know and understand how it all fits together will make the difference between whether you will succeed or fail.
If you see that your business is starting to falter, then change the direction of your business a little towards what the current trend of your niche is going towards.
By staying flexible, you will increase your ability to succeed.
My conclusion on how to research a niche
You have been able to understand the different types of market research and how the different parts of the business fit together is essential to be able to do your research correctly.
Just remember there are thousands of ideas out there. You need to learn how to research your niche correctly if you wish to succeed in the future.
A business that hasn’t done its due diligence and market research at the start and aren’t apparent in understanding their goals will only hurt your business in the long run.
My advice is to take it one step at a time and don’t jump to the end without completing all the steps.
Bye for now
Have a question? Leave a comment below and I will get back as soon as possible
Hi there everybody, my name is Kevin de la Haye. I hope you enjoyed the post. I aim to always bring some value with every post that I write. I am the owner of Niche Marketing Toolkit, and I take each day as a challenge to you, my loyal readers.