Market Niche Analysis?

[Harry P]

I am finding ways to research profits that a niche can bring to me, even I have not tried it yet.

Are there any ways to analysis a market niche?

For me, I am using these methods:
- Identify my audience
- Research my niche market keywords using google keyword planner or other keyword tools.
- Analyze the competition
- Research industry trends with google.com/trends/

I'm wondering you have better ways for market niche analysis? just sharing...

 

[Nytshade]

The easiest way is to go to sites where people buy and sell websites, you'll find a lot of good niches. Flippa is a great place to start.

The amazon best sellers section can also reveal some untapped and lucrative niches, even future high traffic keywords.

If the niche has magazines then I know it's also a lucrative niche and that means the niche market is willing to spend money on information, which also means a blog will work well.

In other niches you'll just see schools (offline/online) start popping up to teach the subject, better if it starts being introduced in well established colleges. Then you know it's a profitable niche.

 

[elcidofaguy]

A quick sanity check would be to see the type of sites advertising on Adwords when you type in specific keywords... If there are lots of relevant ads and competing websites then for sure its a profitable niche...