how to start a business without money (Chapter-5)
Chapter 5 – Getting Started with Your Niche Research
An essential step in discovering the niche market you want to pursue is to identify the keywords that are used by your target market. You need to figure out which keywords they are typing into the search engines and use them to search the topics and products that are related to your market. The searches that you uncover will help you know the pain points of the niche customers and what problems they need to be solved.
Knowing the keywords used for your niche will help you grab the maximum number of specifically targeted customers that are looking for products and services that are directly related to your niche. This will, in turn, help you earn a substantial profit within your niche. You can use Google Ads Keyword Tool (https://ads.google.com), a free tool, to search out specific words and phrases that are related to your niche market.
The Keyword planner from Google provides you with the chance to find all the relevant keywords that are being used by your target customers. You can use the data that you gather from the tool to research the specific products, services, and solutions in any niche market and determine which ones will apply to your particular area of expertise.
After you’ve identified some of the keywords and phrases that are associated with your chosen niche, you can start to identify those keywords that have the most profit potential. The profit potential of keywords can be measured in three ways:
• Low competition • High search volume • Little cost/effort to rank high
Finding Hot Keywords
Using the Keyword Planner provided by Google Ads allows you to estimate the amount of potential visitor traffic for each keyword in your niche. It shows you which keywords people are using and any associated keywords that can give you clues as to the other requirements of your potential customers. When it comes to choosing a viable and profitable niche, your research needs to be focused and in-depth. You need to test as many keywords as you can until you think you’ve covered all the keywords and phrases that a potential customer might use to search for your product or service.
The first piece of data that you need to look at is whether or not there is a sufficient monthly volume of potential customers actively searching for the product or service that you are looking to sell. You also want to determine if other businesses are already making money from similar products or services. This can be accomplished by using Google’s Keyword Planning Tool along with search engines like Google and Bing.
How To Organize Your Keywords
Next, you need to organize your keywords and phrases into groups. This can be done by breaking all of your keywords down into groups of specific keywords and phrases. For example, the keyword phrase, “digital camera,” can be further divided into “underwater digital camera,” “underwater digital cameras,” and “digital underwater camera.” These would be placed in one group, while “digital camera case,” can be put into “underwater digital camera case,” and “digital camera cases,” can be placed in yet another group.
You want to separate your keywords into a group of no less than 2,000 searches per month. The reason behind this is to find a prevailing mindset of groups of people that are currently looking for similar products, services, information, benefits or features. You can drill down even further and discover even more potential buyers for your products or services by selecting the top ten keywords that you’ve researched. With these ten keywords, you want to try and find a total of 100,000 or more searches in total per month. Each of your keywords can be added to the Google Keyword Planner Tool to uncover even more specific long tail keywords.
The next step is to start looking at your list for the money making words. These buyer keywords signal that people will pay for information. These keywords include brand names, model numbers, color, cheap, buy, for sale, supplier, seller, etc. The more specific the search, the more likely the customers are ready to buy.
How To Test Your Keywords Live
The best way to check the potential profit of your keywords is to test them live online. You can do this by adding some keyword specific content to a page on your current blog, website, or social media pages. Then you can test each piece of material and see where it lands on Google and how much traffic it brings in. This strategy will allow you to determine which keywords will bring you organic traffic and those that are converting the traffic into revenue, as well as which keywords rank higher on the search engines. The more traffic a keyword when it ranks lower on search engines, the more profit potential it has.