How to Identify an Existing Demand

Identifying an existing demand for your online business is absolutely crucial to
any chances for success. Whatever your product or service is, finding the niche
market to sell it in is just not enough. You may be lucky and strike a gold mine,
but chances are that your shot in the dark will be a bad one. It’s far better to
take the time to analyze the demand for a particular product or service before
you place that good for sale.
This is one of those areas of business where you’re going to have to do some
research to get what you want. So, to better serve your purpose, it would be
helpful for you to first come up with a list of the different niches you are
considering. Once you have the list, make a plan for how you intend to do your
research. A comparison of the results between the niches you research will give
you an idea of which ones will offer the best chances for success.
One way you can research the demand for a particular product or service is to
join the forums previously mentioned. Get a feel for what people are talking
about while you participate. Look for people making comments about
something they’re looking for but just can’t seem to find. This will often help
you to come up with a starting point for further research.
Tools exist on the Internet which can assist you in your research. Through these
tools you can enter keywords and search phrases. The tool will give you the
number of times in a given period that those searches were done. Another way
is to look at the number of clicks. Clicks and hits are great ways to find out just
how much demand there is for the niche you’re researching. The greater the
25
number, usually the greater the demand is for products or services in that
niche.
Other tools allow you to find out how many visitors there are to a site. You will
want to do this when you find a niche where you’ve realized that there are very
few sites in operation. The reason is that there could only be a few sites
because the demand is low in that niche. To determine the demand, you need
data on the number of searches, as mentioned above, and on the number of
visitors to these sites.
If the sites are not getting much traffic, you may consider looking in another
direction as this is not a hot market to enter.
If you do your research, chances are that you will find a few great
opportunities, and many not-so-great ones as well. This is where you can make
a good business decision about what niche to enter, and avoid that dangerous
shot in the dark.

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Author: HOMEPROFITCOACH

I have been marketing online for 24 years helping people do it right with education, and list building tools and procedures.