The online approach (using online tools) of niche selection primarily involves
finding out what people are searching for and what information they are
trying to find out online.
One method of finding out what’s hot right now is using the eBay pulse. The
eBay pulse identifies which keywords have been searched most frequently on
the eBay search engine and it’s an excellent way of identifying what’s hot on
eBay and online.
The image below shows what key phrases are hot right now on the eBay
market place, but beware, with high searches comes high competition and it
may not always be profitable to pick the term with the most searches. We’ll
analyse your niche ideas in the next section. So, if you see anything that may
be worth pursuing, make a note of it.
Another method of generating new niche ideas online is using a few free
keyword research tools from Google. The first being:
http://www.google.com/trends
Type in a keyword to Google Trends and it will display a graph showing how
the number of searches has changed since 2003 through to the present day.
It’s a good way of identifying niche markets that are on the up and niche
markets which are in decline. It also shows you what events in the press
affects the major increases or decreases in search numbers. You can then
identify how media speculation will affect that niche.
Google Suggest (http://labs.google.com) is another great tool for identifying
niches within niches. All you have to do for this one is type a keyword and
Google will immediately provide you with a list of other possibilities for
keywords with highly searched words and phrases. This is an excellent way to
narrow your vision and identify very hot and lucrative niches within niches
(micro-niches).
Below I have searched for the term Caribbean and immediately I could now
branch out into sub-niches.
You can identify even more specific micro niches by typing:
“Caribbean a” – This will identify all the search terms that have a secondary
word beginning with “a”.
Caribbean all inclusive resorts could be a highly lucrative niche. You could
give details on some of the best tourist resorts on the island.
Try many different main keywords in Google Suggest and see what comes up.
The final method of identifying potential lucrative markets using online tools
is perhaps the easiest method and can sometimes be very effective at
stimulating your creative juices and generating new ideas for potential niche
businesses.
This method simply involves you looking at categories in a number of
websites and seeing whether or not you can sub-categorize that niche and
develop a site from there. The best place websites to find a number of
categories are:
http://www.ebay.com
http://www.ezinearticles.com
http://www.magazines.com
Click on a category that interests you, such as “Cameras and Photo” and a
load more sub-categories will pop up. Hopefully using this method will enable
you to conjure up a few more niche ideas.
Make a note of all your ideas and suggestions so the ideas can be evaluated
later on.
That takes care of the online niche idea generation but we still have many
more ways of generating new niche ideas, so stick with us.
Recently, the media have had an ever increasing affect on our lives and it can
be used as an excellent tool for generating new niche ideas.
To find what’s in demand using the media involves analysing TV adverts and
programmes, magazine adverts and content and newspapers.
By analysing current affairs, you can quickly spot potentially lucrative niche
markets. Over the last few years, global warming and its effects have been
widely broadcast and more and more people are trying to do their bit to help
reduce the effects. You could quite easily research how to reduce global
warming and save money in the process, compile it into an eBook and sell it
for a lot of money.
Using magazine content is also a good way of choosing niche ideas. You
always see women’s magazines (not that I read women’s magazines ) with
fashion advice and weight loss tips. You could use these articles as research
and because they are being included in these magazines, the information is
obviously in demand. Don’t restrict yourself to women’s magazines however,
look at:
Car magazines – You could write an eBook about choosing the perfect car to
suit the customers purposes.
Garden magazines – Create an eBook about growing a certain type of plant,
or an eBook about creating a beautiful garden.
Travel magazines – Create an info product about travelling for cheap, luxury
destinations or things to do on vacation.
There are thousands of magazines out there and each one could provide you
with 3 or 4 new niche ideas.
Visit www.magazines.com to browse through a huge selection of magazine
categories.
Monitoring the TV listings and analysing what’s on TV is also an excellent way
of selecting a lucrative niche market. An excellent example of this type of
niche selection is if you had spotted that hit TV series “LOST” would have
been so successful with so many fanatical fans that are very passionate about
the programme. You could quite easily have created a “Lost theories” eBook
which you give away for free and profit from on the back-end.
The best part about choosing a niche like this is that if you were one of the
first to set up a website about LOST and marketed it effectively in the initial
stages, then you could have dominated that niche market from the very
beginning.
This is similar to method #2 where you used your hobbies and passions to
generate new niche ideas except this method involves using your friends and
families interests.
If you’re lucky, you will have a few friends or family members with obscure
interests and passions. This way you can locate niches that very few others
will know about and you can dominate this micro-niche market.
A micro-niche market is one that is very small in comparison to other
markets. It is much easier to dominate a micro niche market than a broader
niche and the customers are often more passionate and more willing to buy.
This is an excellent method for generating new niche ideas because if you
create a product from a niche idea you generated using this method, then
you will be building a business talking about what you love to do.
All you have to do for this method is sit and think for a while about what you
love to do, what subjects you like to talk about or read about or even what
subjects you are very knowledgeable about.
Sit down for five or ten minutes and just think about everything you like to
do. You should come up with at least 20 things. Write them all down.
Once you’ve brainstormed your 20 hobbies and passions, think about how
you could turn that into a product.
For example, one of my hobbies is football (soccer) so I could write a product
about fitness training for peak performance, or mental preparation for peak
performance.
Another of my hobbies is travelling. This may be a bit of a broad subject so I
narrow it down to some of the countries I would like to visit and therefore
would enjoy researching, such as the Caribbean. For this niche you could
create a product such as “The 10 Best Activities in the Caribbean”.
This method simply involves looking around your immediate environment. It
could be looking around your house, your garden, your local park, local shops
or whenever you are out at a new place.
For example, if I were to look around the room I’m currently in, I estimate
that I could generate at least 5 new niche ideas.
I see my glass which I just used for my milkshake; why not write a product
with a number of milkshake recipes?
I see my internet modem; why not write a product about safety on the
internet?
I see a few clothes which have been thrown on the floor; why not write a
product with fashion tips?
I see my credit card; why not write an info product about clearing your
debts?
I see a few antiques in the corner; why not write a product about buying
and selling antiques for profit.
There we go, 2 minutes of looking around one room and I’ve generated 5
new niche ideas, I’m sure I could generate a lot more with a bit more time.
Once you find a new niche idea, write it down in your notebook and then
continue looking.
It doesn’t matter how useless you think the idea will be; write it down! It may
well prove to be the most profitable of all your niche ideas.
Repeat the process through the rest of your house, and then move onto your
garden.
This method does not have to be limited to your house however. You can
repeat the same process in your local park, local shops or wherever you are.
Every place is different and every place will give you one or more niche ideas.
As I was saying above. Digg allows you to post comments on their website about their posts and submitted sites. You can get HOARDS of traffic from them.
Digg.com is a social bookmarking website. What users can do is submit their websites or blog posts or article posts to this site and then try and get on the front page on Digg.com
The post with the most Diggs gets to be on the front page. This site will drives LOADs of traffic to your site, but it is not always of the highest quality.
This is the simpliest and easiest, yet one of the most effective ways to get traffic and highly quality targeted traffic to your blog. Just post on other blogs comment forms.
I don't mean spammy posts. I mean, really REALLY informative comments. If you are posting a comment on a particular post, add to the post, give more information and then link back to a similar post on your blog.
This works really well in very high traffiked blogs.
Digg.com is a place that has lots of traffic and allows comments on posts.