How to Pick a Profitable Market
One of the most frequently asked questions in internet marketing is, “How do I find a market that’s both profitable and suitable for me?”
There are two different approaches to picking your market. Marketing experts say that you should pick a market that is “profitable” or “a hot market with little competition.”
Unfortunately, unless you have years of experience marketing different products, this approach will not work for you.
The second approach is, “pick something you know everything about.” This works well for the inexperienced marketer when the niche ends up being profitable, but it ends up bankrupting him 80% of the time.
So what’s the best way to come up with a viable niche?
Write down a list of five things you would consider yourself an expert in, and a different list of five things you’re interested in but want to know more about.
From this list, pick the three that are the most profitable. A good way to gauge how profitable a market can be is the SVIA ratio (search volume : indexed articles ).
If a keyword gets searched 1,000 times per month and has 5 million indexed articles, you probably won’t be anywhere near the top in your market. However, if it gets searched 1 million times per month and has 100,000 articles, you have a pretty good shot of getting close to the top and having decent traffic from search engines.
Also, check the number of PPC ads for your keywords. If there are no Google AdWords ads on the search page but the keyword gets plenty of searches, you may have found a gold mine.
Thanks guys, see you next time!
There are two different approaches to picking your market. Marketing experts say that you should pick a market that is “profitable” or “a hot market with little competition.”
Unfortunately, unless you have years of experience marketing different products, this approach will not work for you.
The second approach is, “pick something you know everything about.” This works well for the inexperienced marketer when the niche ends up being profitable, but it ends up bankrupting him 80% of the time.
So what’s the best way to come up with a viable niche?
Write down a list of five things you would consider yourself an expert in, and a different list of five things you’re interested in but want to know more about.
From this list, pick the three that are the most profitable. A good way to gauge how profitable a market can be is the SVIA ratio (search volume : indexed articles ).
If a keyword gets searched 1,000 times per month and has 5 million indexed articles, you probably won’t be anywhere near the top in your market. However, if it gets searched 1 million times per month and has 100,000 articles, you have a pretty good shot of getting close to the top and having decent traffic from search engines.
Also, check the number of PPC ads for your keywords. If there are no Google AdWords ads on the search page but the keyword gets plenty of searches, you may have found a gold mine.
Thanks guys, see you next time!
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