Step 3: How To Be Sure That Your Product Will Make Monev !
Ok, so you now have your niche, and you have picked out the top 5 phrases that people are searching for in that market. Great stuff!
The next thing you need to do is to see if your niche will make you any money. It's kinda important…!
Bear in mind that there are no guarantees that you will make money with your product, however, if you follow this step it should greatly increase your chances.
(Just as an aside, another thing you should do now is to make a folder on your Desktop to keep all your product work together. Just call it your "niches name" product, for example, "Dog Training Product").
To find out if you will make money from your product, you will need to check that all the people that are searching for your 5 phrases are actually buyers. You don't want to spend loads of time building a site for information seekers only! You won't make money at that game!
There are many different ways to do this, but this is the way I do it:
First of all go to http://www.google.com and type in your top phrase (the one with the most searches), for instance I would type in "Dog Training".
This is what Google bought up for me:
Once you have typed in your main phrase, the first thing you should look at is the number of search results the query has.
I have highlighted the search results above and, as you can see, there were 230,000,000 results for the phrase "dog training".
Ok, I didn't do an exact search by putting my keyword phrase into inverted commas, which means that it returned every search that contained the two words "dog" and "training", but is gives you an idea of the size of the market here. You could zone in on the number of exact searches if you wished.
This number of searches here clearly shows that there is a market for this niche. The next thing you should do is look at the number of Adwords the phrase has.
I have highlighted the Adwords on the page, both along the top and down the right side. These are adverts that people pay Google to place here. What we want to look at here is how many competing ads there are, and what sort of price they are paying to be there.
Basically, the more profitable a market is, the more people will bid to place their ads.
So, all you need to do now is to type each one of the five phrases you picked earlier and make a note of:
1. The number of search results
2. How many people are paying to be there on Google Adwords
After doing that, you will need to see how much people are willing to pa