I reviewed day 2 of the 30 day challenge (see day 1 of 30 day challenge here) and have included my notes below (more for my benefit in remembering stuff). If you are new online there is no better place to start. Best part is it is free. We advise people starting a blog or any business online to keep well away from expensive online courses and ebooks. You will find a lot of information free online anyway, and the 30 day challenge is as good a place to start. You can always buy the expensive courses later.
Summary Of Day 2
Ed introduces a revolutionary new tool called Market Samurai to apply to the niches we identified in day 1. The amazing thing about the tool is that it works on Windows, Linux and Mac OS X. It has a lot of Web 2.0 market research features in it and a lot of input from Ed Dale and his team on the design. New features are being added regularly. Although we purchased Market Samurai we are not convinced it is so “must have” tool. You can do the same thing in google search anyway, it just takes a more time to do so.
Definitions
A Market is a population with a common need or desire with the ability to buy a product or service that will fulfill their desire. A niche is a segment of a market.
A good example, in terms of the amount of competing web pages (phrase matched) for a given keyword.
Market - People interest in Golf (1,000,000+)
Mega Niche – Golf Clubs (100,000 > )
Niche - Irons (30,000 > )
Micro Niche – Cavity Backed Irons (30,000 <)
Market and Keyword research are the same thing because the keywords mirrors exactly what your customer’s need is. Search engines allow us to be more specific in finding what people want. Some keywords get more traffic and some keywords have a lot of competing web pages. We need to find keywords that have commercial value e.g. free in a keyword is usually used by freebie seekers, “buy” or product names are usually used by people who are ready to purchase.
TIP: Phrase Matched (in quotes) gives indication of websites that are “optimized” for the keyword combination.
We need to also find keywords with 80 – 100 searches a day.
CTR – click thru rate – is a good indicator if people are interested in buying stuff i.e. they are clicking on ads as well as the organic search Look for 2% and higher.
Similar Posts:
- Day 5 – Finding Content For Your Website
- Day 4 – Finding Good Products To Sell
- Day 3 – Competititve Analysis
- Day 1 – Product Ideas
- Friendfeed And Twitter – The Dynamic Duo
