If you are at the point where you have your niche and have already picked out the top, let’s say 5 phrases that people are searching for in that market, the next thing we need to find out is if the niche will make you any money!
Bear in mind that there are no guarantees that you will make money with your product, however if you follow this step, it should make you 99% sure that there is a market for the taking!
What you should do now as well is make a folder on your Desktop to keep all your work together.
Just call it your “niches name” product, for example, “Dog Training Product”.
To find out if you will make money from your product we need to ascertain that all the people who are searching for your 5 phrases are buying as well!
There are many different ways to do this, but this is the way I do it:
First of all, go to http://www.google.com and type in your top phrase (the one with the most searches). For instance, I would type in “dog training”.
This is what Google brought up for me:
click on the image if you need to enlarge it
Once you have typed in your main phrase, the first thing you should look at is the number of search results the query has.
You can see from the example above I have highlighted the search results and there are 38,800,000 results for the phrase “dog training”.
This is a lot of results and that normally means there is a market there.
The next thing you should do is look at the number of AdWords ads the phrase has.
I have highlighted the ads on the page and these are advertisements people place on Google for certain phrases. What we are interested in is how many competing ads there are and what sort of price they are paying to be there.
Basically, the more profitable a market, the more people will bid to place their ads.
So all you need to do now is type each one of the five phrases you picked earlier and make a note of:
- The number of search results
- How many people are paying to be there on Google Keyword Planner?
Also make a note of what the Keyword Planner is selling as this is a good indicator of WHAT people are buying in the niche and this can help you with your product creation.
For instance what is the top AdWords Ad?
For the dog training niche it is:
- Dog Training Problems
- The Professional Solution
- Remote Collars & Electrical Fences
Bear in mind this is not necessarily the best product to copy, although it will give you an idea of what people are selling in the niche.
However, the above is just something to bear in mind. When you have checked out the search results for each one of your phrases and the competing ads, we need to know how much people are paying and for this we will use a site called:
Spyfu is a site that lets you see what sort of money people are spending on Google AdWords for their phrases.
Once you go to the Spyfu site you will see this screen:
All you need to do is type in your main phrase into the Spyfu search bar and it will display the information we want.
You will need to do this with each of your phrases, but I will go through the process with my example phrase, “dog training”.
This is the info that SpyFu brought up for the phrase “dog training”:
You will receive more info showing the Google AdWords ads, but we are only interested in the top bit as shown above.
Let me explain what this data means and how it is relevant:
Cost/Click: This tells us the average cost to the advertiser per click, so you can see that the average advertiser is spending $0.80 per each click. The higher the amount is, the better. If they are spending a lot of money per click they must be getting sales (normally anyway!).
Click/Day: This shows us the average number of clicks per day an advertiser is getting on that phrase. If this is high, it is better also as it means people are searching for information on that phrase.
Advertisers: This shows the number of advertisers bidding on this phrase. Ideally this number should be lower than 20 as it means that there is more than 20 different competing Google AdWords and if you can find a good niche with low competition, then this is better.
Don’t worry too much about this though because if it is high, you can get people to promote your product!
Cost/Day: This shows the total daily cost to all advertisers that bought this keyword/phrase. This shows you how much an advertiser is prepared to pay to stay at the top. Normally the more the better; if the advertiser is willing to pay more, then they must think the keyword is profitable!
So all you need to do is go through each of your 5 keywords and see the results using this tool.
Ideally you will be looking for all the figures to be high and the competition low (lower than 10 competing ads can be a goldmine!).
Also you should now start thinking about narrowing down your niche for product creation using this tool.
For example, I have been focusing on the keyword “Dog Training”, however, it is a good idea to focus on an actual topic within a subject, like “Dog Potty Training” in my example.
This is not always the case, but it does mean you can focus in on one point and it will be easier when creating your product and also more targeted.
Here are the results for “Dog Potty Training”:
As you can see from the example above, this phrase is a lot more focused and is still very competitive.
However, although it is saying we would only receive 0.79 clicks per day, if you created a product on how to potty train your dog, you would get more sales than if you created the same guide and bid on just the phrase “dog training”.
Does that make sense?
You should find a niche like this that tells people how to solve a problem or offer some solution. It really is that simple but if you find this advice too trivial, you can head to Rob’s VIP Membership Area and learn a few good tricks to get you to the next level.
But for this example, I will settle on the topic “Dog Potty Training”.
Also don’t get too caught up on this. Just take each of your 5 phrases, type them into Spyfu, and note the results and see how much people are spending to be there.
Then select a phrase that solves a problem or that is more focused!
So I have settled on the phrase “Dog Potty Training”.
The next step it’s all about how to get started creating your product!