How To Choose A Profitable Niche Market

By Author: Terry Dean
Total Articles: 8
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Does it always seem like others find all the profitable markets...while you're stuck slaving away looking for a good opportunity?

A lot of marketers expend their energy and their money to promote a product nobody wants. Or they choose to build a business inside a niche that's too small. Or they pick a large marketplace and find it too difficult to separate themselves from the pack.

Wouldn't you love to have a way to know beyond a shadow of a doubt the market you're choosing is the right one for you to profit from? If so, keeping reading.

Principle #1 for choosing a profitable market is to find markets where people are already selling products profitably. You don't want to be a brand new pioneer in a new marketplace. Let someone else prove the market is profitable for you before you enter it.

Here are 5 ideas generators for markets (all based on making sure someone else is selling into the marketplace first)

Idea Generator #1: Paypal Shops
https://www.paypal.com/shops

You can search through the different categories of shops. When you visit different companies accepting Paypal, ...
... they'll even share the number of Paypal transactions that shop has had. You don't have to guess where the money is at or where it is flowing. Look for products or services that are selling with with a lot of transactions.

Idea Generator #2: Lulu
http://www.lulu.com/browse/stats.php?fType=topSellers

Lulu is a site for self-publishers essentially that allow book authors and information product developers to upload their material and they will print out a book on demand. They keep statistics about what titles are selling in what categories. You can get a sense of what's selling there for small publishers.

Idea Generator #3: Shopping
http://shopping.com/top_searches

Shopping.com has a Consumer Demand Index showing the hottest searches for what people are actually looking at buying. Consider this. People who search on Google are often looking for free information. You can translate some of those searchers into buyers. The research we're doing is showing what people are actually buying!

Idea Generator #4: eBay
http://pulse.ebay.com/

Choose any category in eBay and find out the most popular searches and the biggest eBay stores. What are customers looking for to buy online? eBay (the biggest online shopping destination) shares their stats with you!

Idea Generator #5: Magazines
http://www.magazines.com

If a magazine can be supported and has been in business for a while, that means that people are paying for the magazines and advertisers are making money. The magazines are supported by advertisers. If there aren't enough advertisers in a marketplace to support a magazine, I'd be very nervous about entering that market.

You're notice the whole principle behind all these ideas generator is that we're following the money trail. If others are making money in the marketplace, then it's passed step one of the marketing process. If there aren't proven winners already, I'll pass on the market. And I recommend you do the same.