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Hello. Today I would like to talk about the 4 precautions to take when choosing a niche.
Have you ever woken up early with an idea for a great product and just can't go back
to sleep because the idea is constantly mulling over in your mind? Well, I have. If you don't
take action on it immediately the inspiration fades away. I keep a notepad next to my bed
so I will at least write the idea down before I forge it.
1. One of the biggest mistakes online entrepeneurs make is falling in love with their idea instead
of doing some market research to see if their is a demand for it. You don't want to invest
a ton of time and money into a product that is not going to fly. Before going gang busters
building out your product idea interact with people in your niche. Visit the places online
where your audience hangs out. Such places may include forums, blogs, social media properties
like Twitter, Facebook, LinkedIn.
To search for a forum in your niche enter keyword+forum in the Google search box. Become
a member of the forum then start engaging with members in the forum by leaving comments,
asking and answering questions. You'll soon get a pretty good idea if people are interested
in your topic.
2. Do keyword research
Market Samurai is one of the best keyword tools on the Net because it will generate
a list of keywords then determine their profitability by analyzing your competition. For instance
it will analyze the backlinks, meta tags, backlinks and cost per click of competing
websites.
3. Run a small AdWords campaign
The beauty of creating a Google AdWords campaign based on your product idea is that you can
test the demand very quickly. It's better to invest some money up front to test the
To run a small test campaign decide the maximum monthly, and daily amounts you want to spend
and set your cost per click. For instance you could start with a budget of a $1.00/day
and only spend $30.00/month. You could start by selling an affiliate program related to
your niche or build a list of interested people by giving away a free report. The chances
of creating a profitable product increase substantially if their is a high demand.
4. Interview potential customers
Have a real live conversation with potential customers in your niche to give you real time
information. To do this contact the people on your list and offer them a 15 minute interview.
If you want to interview more than one person at the same time create a webinar. Interview
at least 20 people, more the better.
if you follow the 4 steps outlined above the chances of creating a profitable product information
business online will vastly increase.