When you are ready to begin your research on the niches you’ve selected, be
sure you’re aware of these common mistakes before you proceed. These
mistakes can do some serious damage to your results, and potentially to your
budget, if you wind up picking the wrong niche to enter based on faulty
research. Let’s take a look at the most common mistakes made.
Perhaps the single greatest mistake made in researching a niche is making too
broad a scope. Remember, these are niches. A website devoted to cars is not
operating in a niche market. However, if you break it down, you can develop a
26
list of the niches under the umbrella of cars. Examples of niche markets could
be things such as vintage automobiles, or a site devoted to a particular model
of car and everything there is to know about it. The point is that you want to be
as specific as possible when you research a niche. If you research based solely
on “cars” then you are going to think there’s a massive market full of potential
customers out there. However, when you get down to the niche, you’ll find
instead that there really is no reason to think that thousands of enthusiasts will
flock to your site about Yugos!
Another common mistake involves not collecting enough information. You
want to spend some real time on this now so you aren’t spending that time
later wondering what went wrong. What many people fail to do is to look
carefully through the Internet for varying keywords and search phrases, so the
researcher is not actually finding a complete body of data to analyze. It is
entirely possible that inaccuracies or omissions of this type can cause you to
miss about half of the picture.
This is truly a word of caution: DON’T make the mistake of getting emotional
in this process. You would be surprised at just how easy it is to be so
enthusiastic about what you’re doing that you taint the research data you
collect. You have to be impartial when you do this research. Sure, it’s exciting
knowing that you’re going to open an online business. But if you let emotions
get in the way, chances are you will find yourself looking over the research you
collected wondering just where you went wrong and why your business is
failing.
As a final note, don’t be fooled by appearances. A lot of hype goes into the
marketing game, and if you’re not careful, you can get caught up in it. Just
27
because you think dogwood-scented candles smell great, and you found only
one site offering them for sale, and that site claims the candles to be a bestseller, does not mean there is really a big market out there for them. Don’t let
this trap catch you. Look at everything you do from a detached point of view. If
you can separate fact from fiction, you’re on your way to success in niche
marketing.
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