Unless you already have a great idea, chances are you will need to spend some time looking into what types of products and services you can successfully market online.
Even if you have a great idea it's a good idea to do some market research... and in order to accomplish this, you will need to do some digging around.
Here are some tips on where to find information about niche markets that might be desirable for you, as well as how to find profitable places to launch your marketing efforts.
If you are starting fresh and looking for your first idea for an effective marketing campaign, the first place to begin is with yourself.
What do you like?
What types of products are important in maintaining your standard of living? What types of services or goods would make life a lot easier for you?
How much are you willing to pay for these goods or services?
Spending some time searching your own wants and needs may yield some interesting concepts for niches that you can investigate online.
Another method is to simply sit down with a piece of paper and make a list of ten things that you are interested in.
Are you an avid golfer? Do you enjoy exercise or Yoga in your spare time?
What do you do for a living?
If you are a real estate professional, for example, chances are pretty high that you might have some great information to share with first time homeowners. If you are an accountant you may be able to help people plan a budget and save some extra money.
So make a list, and chances are your list will probably be somewhat random, although thinking of one subject may immediately draw your mind to another related subject.
Don't fight the flow or spend any time second-guessing the topics that come to mind. Write them down and don't waste time thinking they are silly or inappropriate.
There will be plenty of time to reevaluate the subjects later on...
As a third source of inspiration go out with friends, but take along a small note-book. As different subjects up in conversation and catch your ear, make a quick note.
A one or two word phrase may do the trick nicely. The idea here is to get some ideas for markets to explore, based on what types of issues come to mind among people you know.
While none of these methods are particularly scientific, they can yield some very interesting topics to research. Don't reject any of the ideas out of hand until you spend some time online and see where the subjects lead you.
Concepts that may seem completely off the wall or worth absolutely nothing may turn out to be gold mines!
If research indicates that the subject is a dead end, then at least you have eliminated one possibility and saved yourself the trouble of pursuing that option in the future.
On the other hand, you may be surprised with what you find.
Using these lists of words or subjects that you have compiled, take to the Internet and start doing some looking around. The first thing you want to ascertain is how much interest there is associated with that particular word or phrase.
One of the easiest ways to get a handle on this sort of thing is to use Google to do a search on the topic or keywords.
Are there a bunch of results? Are there "sponsored" results on the right side of the results pages? That means people are paying money to be listed there: a good indication that there is money to be made there.
For example, if one of the subjects that came up on your lists happened to be "dog," and you find that the word returns almost 500 million hits on its own... so clearly "dog" is too broad of a subject to explore.
Looking down the list, you may find that "dog house" or "dog training" returns a more manageable number of hits, as does "dog treats." With just a little digging, you have uncovered three potential markets to attack.
Moving one step further, you should take your phrases to a free keyword tracking tool and check a rough estimate of the number of people searching for that term.
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