Step Three: Analyze the Competition
The level and quality of competition in a niche is a good indication whether the niche is lucrative or not. The most lucrative keyword niches, are typically characterized by:
- High average cost per click (CPC)
- Multiple pages of ads
- Advertisers in the top 3 premium positions
- Ads that are highly targeted to the search keyword
While the Law of Attraction niche is pretty sizeable, competition appears to be medium to low, and with the average CPC less than $1.
This raises the question of whether or not this niche has enough money in it to make it worthwhile to establish a business there. The best way to get an idea is to see if there are any pay-per-click (PPC) advertisers bidding on “law of attraction” keywords in Google Adwords. Google Adwords ads are the text ads that appear at the top and on the right side bar areas of Google search results pages.
As you can see, while there are a lot of competing pages in the organic search results area, this high key phrase is devoid of PPC advertisers.
The lack of PPC advertisers suggests that this key phrase isn’t particularly lucrative and that the law of attraction may be a tough market to make money in. At 48 million competing pages, it will be extremely tough for you to launch a new website and rank on Google page 1 for the term “law of attraction.” Chances are, it won’t be worth your time.
Not to say that it isn’t a profitable niche. Asking yourself why no one is advertising will yield a lot of insight. A great way to find answers are in the list of keyword suggestions presented by the Google Keyword Tool. Are most people looking for Law of Attraction books? Could it be that most people are looking for free information. Beyond the book, are there other kinds of products this target audience would actually buy? Coaching? Courses?
At this point it may be worthwhile drilling down to long tail keywords related to the the niche market’s pain points and desires. For example, people who believe in the Law of Attraction, are finding it’s not working that well for them and are seeking help in unleashing its full potential.
You can see here that there are advertisers in this keyword niche, which suggests there is money to be made. However, the number and quality of the ads and advertisers suggest that “law of attraction courses” is not a hyper competitive market, and that there may be room to accommodate new players.
However, just to be sure, it’s good to circle back to the Google keyword tool and see if there is enough search volume for this keyword niche to support a viable business. With only 36 exact match global searches a month, it would be tough to build a business focusing solely on selling a Law of Attraction course.