My Thoughts On Identifying Profitable Markets
First here’s the question:
Raymond, Thanks for the suggestion . Have marked a timeline to complete the trainings on CWS and start off with launching a review site.
However I am a bit overwhelmed since most of the markets look attractive (baby products, smart phones, home decor etc) and I am trying to identify profitable markets. From your review I guess you tried CWS from a review point of view (and it’s as good as you mentioned especially getting the perspective right for beginners). Additionally, if you could share a tip or two on identifying good markets (helpful tools/sites to find out what’s selling hot) and prioritizing them, either on a reply to this mail or your newsletter that would be great.
BTW I couldn’t locate a link to subscribe to newsletters on your site. Did i miss it ?
How Do We Find Profitable Markets?
Just to be clear (and because I have serious OCD when it comes to terminologies. hahaha), when you say market, this refers to a huge group of people. In the question, you gave some really good examples of some markets (baby products, smart phones, home decor) and that’s fine. But what you want to look for is a sub market under that huge market.
This is what you call a niche. Basically you drill down even further until you can find a sub market (niche) that you can potentially break through when it comes to ranking in the search engines and obviously the niche should have enough search volume for its keywords.
Let’s Drill Down The Baby Products Market
For this example we’re going to drill down the baby products niche and I’m going to use the Amazon marketplace. I have to say that I’m head over heels in love with Amazon’s affiliate program. If you’re still not seeing any results with promoting those acne guides and ‘how to cure *insert obscure disease here* materials in Clickbank then I strongly suggest you try out Amazon.
When you go to the Baby section (market) you will find a lot of sub markets. I can see strollers, car seats, nursery, feeding, swings, potty training, etc. You can classify these as niches but you can even drill down further to find more targeted and more specific niches.
Let’s choose safety gates.
I want to browse products that have a price tag of over $100 so you have to check that option in the left hand side. If you’re following me (and I suggest you do. hahaha) you’re going to see a lot of products that are over $100 and have acquired a lot of consumer reviews.
At this point I’m going to plug in the keyword ‘safety gates’ into the Wealthy Affiliate keyword tool (or the free Google keyword tool) and check out what keywords I can target and build a site from (I also like to target brand name keywords). The minimum exact monthly searches that I’m looking for is 500 and above.
My Suggested Gameplan For You
Suppose you’re going to work out a ‘safety gates’ campaign, I would advise you to build a general safety gates review site. Have a mix of both review articles and information articles. And rank the review articles in the search engines.
For example your domain would be… safetygatesreviews.com and one of your posts would be ‘kidco configure gate’ which is one of the many brands that distributes safety gates. Then you will work on building links so you’ll be able to rank the homepage for ‘safety gates reviews’ and the inside review page for ‘kidco configure gate’.
If you want a clear cut and simple guide into building Amazon mini sites that earns $50 or more per month, then I strongly recommend that you check out this Amazon WSO course.
How Do You Find Hot Products?
I don’t really have a surefire formula for this but watching some news and browsing the forums of your targeted audience can provide you a ton of ideas. I spend a great deal amount of time in Amazon and sometimes I would spot a product that got a lot of reviews just a couple of months ago and I classify this as a hot one. hehehe. If you have some ideas on how to spot hot Amazon products, I would appreciate it if you can share some of your strategies in the comments below.
What’s important for me is that the keywords have monthly searches and that I can penetrate the first page and eventually take over the top spot. And the good thing about Amazon is that there’s almost no second guessing if you’re going to be profitable or not. If you get ranked on the first page for a specific product name (eg. XYZ Sweep And Steam or XYZ Sweep And Steam review/s), it’s highly likely that you’re going to see sales.
I hope that you’ve found this answer to be helpful and I will try to add my RSS feed in the sidebar. hehehe. For now I will update you when I have a new post through my email list so make sure you’re subscribed. If you have some questions then feel free to send it in and I might write a blog post about it.