4 Powerful Ways to do Market Research and Uncover a Profitable Niche for Free

4 Powerful Ways to do Market Research and Uncover a Profitable Niche for Free

Jim Morris

Jim Morris is the Founder of the wildly popular keyword research tool and search engine positioning service known as http://NicheBOT.com and is one of the most sought after keyword research experts that can discuss keyword research philosophy and the current keyword databases available. View all articles by Jim Morris

Aspiring entrepreneurs and small business owners are often misled or misguided on the topic of how to properly conduct market research that uncovers a profitable niche.The path most unsuspecting entrepreneurs take is by ending up at keyword tool or database to begin their search.As a keyword research expert and founder of one of the leading keyword research services on the internet, I can say with firsthand experience that keyword databases are not the first place to look nor should be even considered. Here’s why.The primary keyword databases that are currently available to the general public only give search counts on a limited amount of data that accounts for 1% - 2% of the actual searches people do around the entire world. They can only predict (emphasis added) the real majority of searches that are being done on the big five search engines such as Google, MSN, Yahoo, AOL and Ask.com which hold 97%-98% of the keyword data.Most importantly, keyword research only shows what keyword phrases people are using in the search engines to search for answers, not what people actually buy on the internet. Just because a group of people search for specific terms or brand names does not mean that’s what they purchase. That’s a key distinction many entrepreneurs and business owners tend to gloss over.When looking for a profitable niche marketplace, your primary focus should be looking for proof of a group of hungry and rabid buyers that want to exchange their money for a service or product (information, physical or digital). Without this crucial qualifier, you may have the greatest product in the world, but you may be lacking a market to sell it to.This article will present a number of great sources to look at which will give you a running start to uncover a truly, profitable marketplace exists before you go for the gold and put all your resources into a website, product creation or expenditures toward some sort of online property.Once you establish that you have located a market that contains signs of adequate commerce moving through it, you then have a worthy reason to look further into a keyword research service to find out what keyword phrases people use to find the market you have chosen.Let’s begin looking at how to identify a profitable market.keyword research tool and search engine positioning service known as NicheBOT.com and is one of the most sought after keyword research experts that can discuss keyword research philosophy and the current keyword databases available and includes extra visual aids to supplement this article on internet marketing research at http://www.nichebot.com/blog/117/market-research/