In This Edition:
In todays edition of the Niche Idea Series, we’re looking at part of the customer research we performed for “unique dining tables” online. We’ll go over some tips about Demand research you need to consider and take a peak at one of our keyword lists we put together when we researching this niche.
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In the previous Newsletter we made sure we could actually find a Wholesale Supplier for some interesting dining tables because if you can’t find a Supplier willing to work with you (as a new online seller) then there’s not much point in researching that product any further. We did in fact find a great Supplier to work with and began the process of collecting “wholesale research” and additional information we need to estimate our overall costs that could be associated with selling that product. We used the Sell Niches Research Sheets to begin organizing our research but also gave some tips on what you need to collect if you’re doing it on your own. This week, we’re going to cover some of the research you need to do to identify your potential customer base.
Let’s take a look…
Preparing to do your research.
When you start doing actual ‘niche’ product research you’re going to be gathering really important information about the market you’re researching. Don’t be sloppy. Treat that research like gold because you’ll be referring back to it a lot as an online seller. In your copy of the Sell Niches Bundle, we provide Niche Research Sheets to our Members specially designed to make your life a lot easier. Not only do they keep your research organized but they are designed to walk you through the research you need to do and even do the math for you. All you have to do is enter the basic research into the fields and they automatically calculate and organize your research into clean, easy-to-read Summary Sheets.
If you don’t have a copy of the Sell Niches Bundle, then just remember to stay as organized as possible during your research so you can compare and refer back to your research as you move forward. Below is a video of how our Niche Research Sheets are put together to give you an idea of how to keep your research organized.
What we found out…
We started by opening our Sell Niches Research Sheet and clicking on the tab at the bottom labeled “keyword research”. This Research Sheet contains the ability to make 2 separate lists of keywords for the product you are researching. Which is really good because for most products you can dig up A LOT of keywords once you really get into your keyword research. Having the ability to separate your keywords into a couple of different lists allows you to focus your research. For example, it can be really handy to have a list of keywords with really “high search volume” and a list of “really low search volume” that you can use later on for your website SEO or advertising efforts.
The Research Sheet sample shown is only for 1 of the keyword lists we gathered. It contains a number of keyword variations and again, we cover the different kinds of keywords you need to gather (in detail) in the Sell Niches Bundle. You’ll notice the different columns and bars. Those are actually generated by the Sell Niches Research sheets based on the keywords you enter. When you gather your keyword research you’ll also be gathering search counts and additional information that the Research Sheet will use for it’s final summary sheet.
The important takeaway here is that in order to estimate a products current demand online, you need to be able to build a GOOD strong list of keywords that represent how potential customers are shopping for that product online. You cannot estimate a products online demand by simply looking at search counts for 1 keyword. We’ve seen countless sellers make this mistake and pass by great niche markets simply because they only researched 1 keyword for the product and automatically assumed the demand was too low. For demand research, it’s all about building and organizing a list of keywords that truly represent your customer base.
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In next weeks Newsletter we’re going to take a peak at the research we uncovered for this products competition online. Whose already selling that product and how many sellers is too many? Check out next weeks Newsletter to find out. See you then!