Niche Research - The "elephant in the room"? (Plus, the single biggest mistake to avoid...)

Research is, as many of us find out the hard way, the core
to your success in business.

Without PROPER research (and not just keyword research)
things are "hit and miss" at best.

One particular aspect I've wasted a week overlooking during
my research is this:

Can I REACH my market?

This is something many folks overlook, despite other products
selling in the marketplace.

Just because there are multiple magazine sales, ebooks selling
and other types of products moving in the market, does NOT
mean you can always do the same...(even with the best product
in the world).

Many folks would make the mistake of assuming that search
marketing is the obvious route to market...but what happens
when you find out that your market is not searching online?

But hang on, they ARE buying stuff online...so what's the deal
there?

The truth is...huge markets exist that cannot be accessed via
search marketing alone.

Just because people don't search, doesn't mean they cannot
be found or that they don't buy online.

See, for me I've just spent a week gathering large amounts of
data on a market...

...I know the target customer as if she was standing beside me
(right down to the size of her house/lawn).

I know the problems, the topics of interest and common benefits
that she would look for in her hobby and the products she buys.

However, because she doesn't search online in any significant
numbers (tested lots of related phrases), this means that the
only way I can reach her is by magazine advertising, contextual
advertising on related websites, and possible low key joint
ventures.

Sure, I could probably put a product on an affiliate network and
"hope" for affiliates to pick me up...but that's kinda putting the
horse before the cart don't you think?

I mean, you need data to encourage affiliates to run with your
program, right?

So, this is more of a heads up and Q&A about research I think...

Heads up: Make sure you can get a clear route to your market
before you spend the time and effort digging too deep. This
doesn't just mean are people searching, but are they searching
enough? It doesn't just mean are there websites that are in your
niche, but would they be open to JV's, or do they accept advertising?

Obviously, the bigger your market, the more options you have...
but what you have to consider is that even if you're targeting
middle aged women wanting to lose weight, you need to find
a way to REACH THOSE WOMEN, not just a mix of the entire
population of dieters...

...see the difference?

If you spend all your ad costs on blindly drawing in the mass
market, it's no wonder your PPC costs will ruin you, if you're
targeting middle aged women.

(It's amazing how many copywriting clients I get who tell me
their market is "anyone who wants to lose weight"). An unclear
market, even in a niche market, holds a high risk of failure.

And if you can be honest enough with yourself and say "I can't
reach this market cost effectively, or even through free methods"
then it's time to go back to the drawing board.

The Question to you is: How long do you spend researching
niches and does it honestly consist of anything beyond keyword
research?

Would love to see how others approach what I consider to be
the most important aspect of marketing, yet possibly least talked
about (strangely)...