In This Edition:
Demand Research Basics
In todays edition of the Niche Idea Series, we’re looking at some of the research we performed to figure out what the customer base is like for “Camping Chairs” online. We’ll go over some tips about Demand research and look at one of our keyword lists we put together using steps from the Sell Niches Bundle and Research Sheets.
In the previous Newsletter we made sure we could actually find a Wholesale Supplier for “Camp Chairs” 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…
Keywords and Customers
People who are looking to buy a product online don’t always search the same way. A person from one geographic location may call a product by one name and someone 100 miles away may call the same product something completely different.
For example:
- Some people might shop online looking for “fish tanks“
- While other’s might shop online looking for “aquariums“.
They are both the same product but we went about finding them using different keywords. When you are researching a products demand, you need to be able to identify the many different ways people search for that product online in order to truly estimate what kind of current demand that product has on the internet. Keywords = Customers
New sellers often make the mistake of thinking a products demand is based on 1 keyword. Find out how many people searched for ‘aquariums’ last month and that’s the demand for aquariums, right? Wrong. When you only research using the keyword YOU call that product you completely miss out on the variety of ways other people are searching for that product online. Every different variation people use to search for a product online represents a potential customer. If you want to estimate how many people are shopping online for aquariums then you need to also include the people who are searching for ‘fish tanks’, ‘fish bowls’ and etc. Discovering the many different ways people search for a product online is how you estimate a products demand.
Did You Know?
The Sell Niches Bundle we not only provide a ‘quick start’ Keyword Chart to help you identify good keywords but we also show you the fastest ways to do your keyword research online using 100% FREE research methods online. With Sell Niches, you are never required to buy tools to do your research. We show you exactly how the pro’s do it using powerful, free resources online. We’ll show you how with the Sell Niches Bundle!
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.
We collected 2 strong lists of keywords for camping chairs which helped indicate how many people were really shopping for this product online.
The Research Sheet sample shown is only for 1 of the keyword lists we gathered for Camping Chairs. 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.
Coming Up…
In the next Newsletter we’re going to take a peak at the research we uncovered for this products competition online. Who’s already selling that product and how many sellers are too many? We’ll take a closer look in the next Newsletter.
