Using Google AdWords to Find a Profitable Market
Now that you know how valuable the Internet is in researching your target market, you should learn the right way to use it. While the majority of entrepreneurs see the net as a way to easily launch a new product and bring it to the market, professional marketers would first go online to find a market and then create a product to sell to it. Until you know your market, you should not even consider building websites and creating products. If you understand this basic principle, you can elevate your Internet marketing to a whole new level.
What is the first step in finding a profitable market that you can exploit? First, search keywords related to the market that you are interested in. For example, if you are interested in getting into tomato growing, you can use the Google Keyword tool to search for related keywords such as growing tomatoes. This will provide you not only with global and local (American) monthly searches, local search trends (for a 12-month period), but also keyword ideas such as “grow tomatoes”, “tomato seeds” and “how to grow tomatoes”.
If average global search results exceed 1,000, then tomato growing may be a viable market. However, just because tomato growing generates many searches does not mean it is lucrative, since the searches may simply be for informational purposes. One way to determine if the market is profitable is to see if there is a lot of advertising in that niche. If there are advertisers, then it is safe to say that people are spending money in that niche.
To check for advertisers, you can do a regular Google search. If the results return more than six advertisers, you can safely assume that there is money in this particular market. You can verify the results by logging onto Amazon or other retail sites and checking if there are books and magazines dedicated to the subject. There would not be a lot of publications on this particular topic if people were not spending money in the market.