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Is Market Research This Hard?

by aussietimbo
11 replies
Hey Warriors,

Is it just me or is does everyone else tend to get lost with market research?

I understand that market research an important part, if not the most important part to any campaign. But I tend to get over flooded with what will work and what won't work kind of questions.

Throwing myself out here to see if you guess have tips on how to make a marketing research decision and stick to it, I'd love to here your thoughts.

Cheers,
Tim
#hard #market #research
  • Profile picture of the author Avdo
    Hey Tim..I don't know about you, but I allways start my market research with google trends, and google insights..try that if you haven't allready.. hope this helps
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  • Profile picture of the author GarryMSayer
    Hi Tim,

    You need to check the volume of your potential niche market and seeing if there are any buyers and if it is a desparate and/or passionate niche market - these are the best ones!

    Then you need to check and see if you can make some good money from this niche market.

    TIP: http://www.google.com/trends allows you to see the trend of the searches that have taken place over a set period of time.

    Hope this helps.

    Garry.
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  • Profile picture of the author aussietimbo
    Thanks heaps guys...

    Do you just go with you gut on the actual niche idea or have some sort of system you go through to identify the topic?

    If you don't want to share thats cool, totally respect it

    Once again thanks for the help.
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  • Profile picture of the author St Croix
    Greetings fellow Aussie marketer!

    You are on the right track mate, market research is absolutely #1 in my book - Spend the most time on this. I've learned to outsource almost EVERYTHING apart from market research and KW research.

    Here's my quick and dirty cheat sheet:

    Thought experiment:

    Choose a niche
    1) Are they passionate about this market?
    2) Do they have MONEY to spend in this market? (I don't care about some 11yr old without a credit card)
    3) Do they SPEND their money in this market? Or are they tire kickers?
    4) Are they slightly IRRATIONAL buyers? (will spend their money in this market without really sitting down and analyzing rewards vs. cost etc.)

    YES? Great.

    Check Clickbank and ask the following:

    5) Are there more than 10 products being promoted in this niche?
    6) Are the products being sold primarily by affiliates in this niche? (more than 55% referred)
    7) Are the affiliates using PPC? (check google, yahoo and landing pages for top results in most obvious keyword for the niche)
    8) Are they easily reached? (ie. are they searching for answer online? or are they mainly searching for local business listings etc.)

    If you can answer YES to most of these questions, you have a niche worth testing.

    Cheers!
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    Back in the game!

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  • Profile picture of the author aussietimbo
    Wow!

    Thanks heaps mate.

    I'm writing the check list out right now.
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  • Profile picture of the author Mr Money Maker
    I found market research can be done anywhere, online and in the real world in stores and warehouses, and researching what people really want to spend money on.
    Find what people not only need, but can't live without and you'll get rich.
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    • Profile picture of the author Kay King
      Do you just go with you gut on the actual niche idea or have some sort of system you go through to identify the topic?
      I have a system but so much of it is based on having done thousands of keyword searches, etc that much of my "system" is gut reaction.

      I often start with SEOBook's keyword tool and also use google's tool - and I use google search and sometimes Yahoo (and, lately, Bing) to see what's ranking high.

      I check the competition for various long tail keywords on the topic and eventually I begin finding a few with good search and reasonable or even low competition and I target those.

      The biggest problem in doing niche research (and keyword research) is that people want "accurate answers" - and its a best guess that you are making.

      There are no concrete numbers I use or I'd be happy to give them to you. I don't do what I think of as trend marketing where you check the news and try to capitalize on the latest scandal or death. That's too short term for me so I focus mostly on evergreen topics and niches where there is demand now and tomorrow.

      I listen to what friends have interests in buying or doing - watch what people gravitate to in stores, etc for ideas. I often start checking out one niche idea and end up finding a totally different one that is better.

      And they won't all work - you do the best you can and then build and promote the site or product and do the best you can at that - and then let it go for a while and see what happens. I've had sites sit uselessly for months and then for no apparent reason start making money. Go figure!

      The more you do niche and keyword research, the better you get at doing it. You will start to recognize a good niche when you find it.

      kay
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      • Profile picture of the author steven seven
        Adding to this thread.

        This is what I will do. Identified the niche, product reasearch in clickbank and competition reaseach. I will proceed based on the following niche criteria.

        Criteria
        1) Searches at least 2000 per month but more is better. 3 words seach ter/ "word word word" for better targeted and conversion.
        2) Competition "keyword" not more than 50k competing sites.
        3) Check on page 1 whether got any web2.0 properties, if have than a good sign to rank. Other competitor sites not more than PR3.
        4) Register a domain name with keyword in it.
        5) You should be able to rank easily with minimum work.
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      • Profile picture of the author St Croix
        Originally Posted by Kay King View Post

        I don't do what I think of as trend marketing where you check the news and try to capitalize on the latest scandal or death. That's too short term for me so I focus mostly on evergreen topics and niches where there is demand now and tomorrow.
        I agree Kay, though there are some exceptional circumstances. When a big time celebrity dies you can make money for years on a well made memorabilia site. People still spend good money on Elvis today. I was lucky enough to get a KILLER MJ domain the day he passed and it's been a great little investment so far. Scandals? Nah, would never go with them for long term income streams, but you can make a ton of cash with some good CPA techniques using PCC and social media over the course of a week or so with minimal effort.

        But yeah, going with something that's never going to go out of fashion is certainly the safest bet if its the SERP rankings you're after.
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  • Profile picture of the author Franck Silvestre
    No. It's not that hard.

    1. Go to clickbank and check the different categories there by popularity. Don't be afraid to dig.

    2. Go to ezinearticles and check the different categories. There are a lot of niches there.

    Quick and easy.

    Franck
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  • Profile picture of the author aussietimbo
    Thanks all for the kind input.
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