The biggest fatal mistake most new Internet Marketing Entrepreneurs make, is jumping into their online business without researching their niche market. Niche Marketing is key to a successful online business.
One of the biggest mistakes many new entrepreneurs make when they begin their first online business, is they fall in love with their product or service before researching their market. Before they know if anyone on the internet is looking for what they are offering, they jump right in spending money and time.
Their are numerous ways to research your target market to find the right niche. It is a good idea to begin with 'keyword research'. Keywords are the words or terms that people are typing into the search engines to find what they are looking for.
There are free tools that you can use to see exactly how many people searched a particular keyword or key phrase. Google offers a great tool for this. To find other free keyword research tools, go to your search engine and type in 'free keyword research tools'.
I encourage you to do some strong 'inner work' before you even begin your keyword research. I believe it is a good idea to market something online that you are actually interested in or passionate about.
Create a list of five things that you are passionate about, very interested in or have a lot of knowledge about. Then take that list to your keyword research tool and type in words or phrases that you think they would type into a search engine. Open your mind and type in as many keywords and key phrases that you can think of.
Look at many of the keywords and key phrases for each subject. Take your top two or three subjects, with the most people searching for multiple keywords in that subject. Now you want to research your competition.
To research your competition go to Google and start to type in the most popular keywords and key phrases, from your previous research. You want to look at the links at the top and far right hand side, titled 'Sponsored Links'.
At the bottom of the page you will see page numbers. You want to look at how many pages deep the sponsored links go, without duplicating. Eventually you will see them repeat themselves or they will disappear completely. The competition is getting fairly high if theses go higher than 10 to 15 pages.
Now you are not looking for zero competition. You do want some competition. If there is no competition, then that could be because there is no market for what you are offering.
Ideally you are looking for low competition with a high demand.
This process, of researching your niche market, is crucial to the success of your business. Building a business is like building a house. You need to have a strong foundation.
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