Market Research

Online Consumer Market Research – Step One

“Seducing the Right Market”

In the offline world, before a large franchise decides to put up a store in a strip mall and add new stores, the accountants are given numbers to crunch about the surrounding population and traffic.

A precise formula is used together with the research to uncover whether that geographic location will likely be profitable.

Well, wouldn’t you want to know with some sort of certainty that your market will thrive and continue to thrive well into the future?

The answer to that is easier than choosing whether to have a malignant tumor remove through surgery.

It really is relatively simple and I can give you a pretty clear depiction of the matter.

Pick the right market and you’ll be flush with cash for years.

Pick the wrong market, and it may feel like you’re in hell and you made the wrong decision to start or even run an online concern.

Pick a market that’s very seasonal, and you’ll be looking for other things to do during the slow period.

But how does one begin to look for a market to pursue?

If you’ve been around any time, you’ve probably heard things about finding markets that are hidden in crevices with very little competition and very easy to take over.

This all sounds wonderful in theory, but very little competition usually equals very little advertising dollars being spent because very little commerce (actual revenues) are being moved by that market.

Let’s think of it this way…

Would you rather have 10% marketshare of a $500,000 yearly market or 1% of a billion dollar market?

Again, the answer is simple.

While the bigger market may be more crowded, there is much more revenue to capture per competitor.

The other huge myth that tends to permeate online is that beginning your market research occurs by using some sort of a keyword tool or database.  (This is where extreme laughter ensues.)

Unfortunately, nothing could be further from the truth.

Jim Morris, the founder of NicheBOT.com says emphatically, “Keyword research does not equal market research because a database can only show interest, not what people actually are buying in that market, if anything at all.“

And if you think about it, it makes sense when you realize the type of sales and market research data that major online retailers have already done for you.

See…

What’s most interesting is that you can discover exactly what the hottest selling products are, and the information is readily available on the largest online marketplaces such as Amazon.com, eBay.com, Sears.com, Buy.com and many other retailers.

You can continue reading the two most authoritative articles on Online Consumer Market Research by the founder himself, Jim Morris, by following the link in this paragraph.

Only after consuming the above two articles should you venture onward to conduct Keyword Research and discover how a Master Of Search Engine Seduction (“MOSES”) approaches the initial phase.  However…

To make sure you never miss an update on new content and the changing wind of Google, click here to sign up for Search Engine Seduction Strategies today and start becoming a MOSES.