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Author Topic: Thoughts about my niche and whether or not to go ahead with the survey
Alwyn
Pro
Posts: 282
Post Thoughts about my niche and whether or not to go ahead with the survey
on: March 26, 2011, 04:36

Hi Moe,

Some thoughts have crossed my mind and I’d like to get your feedback on them. These thoughts have popped up because I can’t adequately answer these three questions : What am I offering that others are not ? What sets me apart from my competition ? And why will people choose to do business with me instead of with others ?

Now…..

To go ahead with my chosen niche and run the survey OR not.

The mother niche I am looking at is VERY competitive and even the many sub sets of this niche are bristling with competition. My rationale for entering this niche is as follows. If you assume that 80% of people are searching on the more common terms – the keywords that get huge traffic – then that leaves 20% who are searching on the more exoteric terms, the ones with much less traffic but since its a huge mother niche, these special terms still get decent volume. With that in mind , then, my plan is that it’s with these seldom searched on terms that I will pick up my traffic and give me a fighting chance to get people to follow me and for my site to rank in Google (with my website not my survey site).

With this assumption, brings up several points.

First, wouldn’t everyone always search on the most common terms first and then be exposed to the myriad of products available to them and pick those products ?

Second, there is drilled down and then there is REALLY drilled down into a niche. What I mean by that is there are some ‘micro niches’ that use different keywords and longer tail KW’s but essentially they are addressing the exact same problem/topic as the most common KW’s. Really drilled down would be where the KW’s meaning implies something totally different(unique) to the most common KW’s in that mother niche. I have the feeling that the latter is what is needed to make a go of it, yes/no ?

Third, having said all this, I need to ask myself if going ahead with this survey is going to be of value or not ? Will there be invaluable lessons that I will learn from running a survey even if the micro niche I have selected is totally off the mark, ie, WAY TOO COMPETITIVE ? Or should I just not bother running a survey with this niche and focus my attention on finding another niche that is not so competitive ? But aren’t all the best niches (desperate buyers that have all the criteria that you list) going to be hyper competitive ? How do you deal with this ?

Thanks Moe and I look forward to your response as I am in a bit of a quandary at present, Alwyn

mmuise
Administrator
Posts: 387
Post Re: Thoughts about my niche and whether or not to go ahead with the survey
on: March 26, 2011, 19:05

Hi Alwyn – great questions. Here are my answers:

(1) People usually search on the most common terms when they’re in “learning” mode – the more generic the keyword, the less the searcher knows about the topic/product. If you advertise on generic keywords, you have the opportunity to educate people, and capture them before another website does.

(2) Re. the “really drilled down” micro niche, without some more information, I can’t really given an opinion.

(3) Many niches that are worth entering are competitive and, generally speaking, the more competitive a niche, the more potentially lucrative it is. But you can still make some money in niches that have no/little competition. As mentioned in some of my blog posts, I’m currently in a farming niche that has no competition and generates $500 – $1,000 per month, pretty much on autopilot.

Keep in mind this point, too: success in IM is a numbers game. The more (related) markets you investigate and enter, the greater your chances of building a good income.

Bottom line: if this is a niche that interests you, I would go ahead and run the survey. You can set a budget limit on your PPC campaign (so you don’t spend too much money), and you’ll learn a lot just from running the survey.

Moe

Alwyn
Pro
Posts: 282
Post Re: Thoughts about my niche and whether or not to go ahead with the survey
on: March 27, 2011, 07:10

Hey Moe, thanks for your answer.

(1) I see what you mean here and you have turned this around from uncertainty, into opportunity…bravo. And this is what your post on the Awareness Ladder is all about which I have read but have not digested yet.

(2) What I mean to say is, there is ‘drilled down’ (dog, dog training, dog house training, puppy dog house training, etc) AND THEN there is really drilled down, like ‘male Doberman potty training’ or ‘train your dog to catch a Frisbee’ etc. The emphasis here being on a micro niche that is very rare and unique and where only a handful of people are concerned with. But that, of course, may not be a good thing either because there may not be enough people to support a legitimate business. I guess you have to find a happy medium and of course do your research to make sure there is a need, etc.

(3) It seems then that you just have DO IT and see where the wind takes you…and yes, I am interested in this niche and my gut tells me that it is potentially LUCRATIVE ! Oh, and your farming niche site where you make between $500 – $1000 per month, pretty much on autopilot is inspirational ! Luv that and THAT is what I’m talkin’ about !

Thanks for bearing with me, Moe, as I still have underdeveloped entrepreneurial instincts and faith…but it will come !

Alwyn

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