In a previous post here we mentioned three ideal things you need to look for in a profitable niche market:

1. Longevity
2. High demand
3. Profitability

Today we're going to discuss these in detail.

1. Longevity:

Niche markets with longevity are what I like to refer to as Evergreen. In other words, they're somewhat timeless.

They're not just a passing fad that will be gone in six months or a year. They have longevity and demand will be around for years to come. You don't want to focus on niches that are short-term.

For example, promoting a product such as PlayStation 3 (PS3) has short-term demand. Once new technology is released this product becomes virtually obsolete and you're customer base quickly diminishes.

However, focusing on the photography niche could be very profitable.

People in this niche are passionate about their hobby and are usually long-term enthusiasts that will be involved in this market for a long time. So you will always have a highly targeted customer base.

This means that once you've established yourself in a particular Evergreen market like this, you can continue profiting from them for many years to come.

2. High Demand:

Secondly you need to ensure your niche market has a high demand. It needs to be "hot" with a ready supply of people who are searching for products or services relating to your niche.

You can determine the demand of your niche by performing some simple online market research that can be done for free.

Go to www.google.com and search for the main keywords relating to the market you are researching.

Here you are looking for two things. The number of search results and how many Google Adwords advertisements are in the far right hand column.

The list of Google Adwords ads represents the advertisers who are paying to advertise the keyword you searched on. Most are advertising an affiliate product or their own website that sells a product related to your keyword phrase.

If there is a list of advertisers regularly filling the page, then chances are this is a popular niche. Advertisers won't continue to spend money unless they were getting a solid return.

You can confirm high demand by checking the number of keyword searches for the main keyword phrase for your niche market to ensure there is enough demand.

Simply go to the Google Keyword tool at https://adwords.google.com/select/KeywordToolExternal and insert your main keyword phrase and see how many searches are performed each month for various keywords in this niche.

For example, if you were researching the "crocket" niche, you would search for the term "crochet" (which by the great longevity) and you will find that there is an average of 368,000 searches per month for the term "crochet patterns".

This tells us that there is a huge demand in this niche and it would definitely be advisable to some further research to determine if was worth targeting this niche.

But there is one more step you need to do before you start promoting to this niche market... Profitability!

Unfortunately we're run out of space to discuss this today, so in a new post, we will discuss the key to determining if your niche is profitable before taking it to Step #2 of the plan.


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