Step Two: Research Your Niche Market Keywords
In this step, you want to identify what keywords your audience uses when they research topics related to this niche market, especially searches related to their problems, pain points or deepest desires.
This information will not only tell you what topics your audience cares about the most, it will tell you whether or not there is enough profit potential in this niche.
A fun and easy too to start with is the free Google Adwords Keyword Tool. You can use it to identify the keywords your audience is using to research products, services, solutions, and information related to this niche market.
The tool provides lots of useful data related to these keywords (especially if you use this tool while logged into your Google Adwords account) such as local and global search volume, level of competition, average cost per click (CPC) and more.
What we want to pay attention when we research industry keywords is the monthly search volume. The higher the search volume, the bigger the market. As a rule of thumb, anything over 1,000 exact match searches a month is worth looking into. However, there are some niche markets with smaller monthly volume that have profit potential as well, especially if the market is hungry, and there isn’t a lot of competition.
Let’s take the personal development market. Within this market, at 49,500 exact match searches a month, globally, this is a sizeable segment of people interested in all things related to the Law of Attraction.