Step Four: Research Industry Trends
Another critical piece of information to have is where the niche market is going. A great free tool to use is Google Trends.
As you can see, interest in Law of Attraction peaked in 2007 and has been on a steady decline ever since. This indicates that it is a declining market. This means, it will be increasingly difficult for you to grow traffic to your website, if overall traffic in that niche is shrinking. If you want your business to be a long term business, it’s better to establish yourself in a market that is growing or at least relatively stable, rather start your business in a pie that’s shrinking.