Update February 15, 2007 - please see this bookmarklet, which will help you automate large part of the process described in this article.
This is the second post in a series on discovering potentially profitable niches the easy way.
In the first post, I mentioned some websites, which are a good source of inspiration. Well, today we are going to actually use one of them, plus some other tools, freely available online. The ultimate result?
You will discover profitable niches in under 10 minutes, guaranteed. And best of all, at this stage, thinking is not required. Just follow the steps :-).
1. We will rely on Wikipedia, but you don't need to go there right now.
2. We will use a very convenient service, provided by Google, which allows you to automatically extract keywords from almost any web page. Go to Google AdWords:Keyword Tool and click on the "Site Related Keyword".
In the field to enter URL, copy http://en.wikipedia.org and check "Include other pages on my site linked from this URL" (checking this option is very important - otherwise you will not get too many keywords).
From the drop-down list, chose "Cost and ad position estimates". Select your currency (I've selected Euro) and enter a high, maximum cost per click value (I use 50).
Important: from now on, your results will vary, as they come from the frequently changing Wikipedia homepage.
3. Click "Get keywords" and wait for results.
4. When results appear, sort them by the "Estimated Avg. CPC" column and scroll down, looking for any high-paying keyword.
5. Here's what I found. "Accused priests" - average CPC at almost $10! Sounds interesting. Let's investigate it further.
6. Intuition tells me that it will be probably a very, very narrow niche, but it still may be profitable. Let's go to the trusted Wordtracker - one of the best keyword research tools out there.
A quick search brought me the following results:
wordtracker.gif
Wow! It seems that the subject is hot - almost 350 predicted searches per day!
7. All right, let's see how many competing pages there are for our target phrase. Here the Google's count:
Only 13 competing pages, none of them really well optimized for the target phrase.
Ok, here's what I would do in this case. Set up a quick blog at Blogger, do some googling on the subject, and write one or two articles, optimizing carefully for the target phrase, plus some supporting keywords. It should not take more than 1 hour for everything.
Add AdSense, obviously :-).
Try to get some links - you don't need much, just enough to get spidered quickly.
Wait for your AdSense income to arrive!
8. Using method described above, it's very possible to find many niches, some of them much deeper than "accused priests".
Let me give you some more examples from the very same research.
Cystic fibrosis - I would have never come up with that niche by means of brainstorming, but it seems attractive.
First of all, results obtained using the above method:
I also used the keyword tool to search specifically for "cystic fibrosis" to see, if there are also other high-paying phrases. Indeed, there are many.
And what does Wordtracker say about this niche? Well, there is definitely huge potential there for traffic.
Tibetan bells - another niche I would never though about. Definitely seems interesting.
Here's AdSense:
And here's Wordtracker
9. Using this technique, I can find many far-from-obvious niches very quickly. Many of them pay really well - see "qui tam lawsuits" - another niche I discovered using this technique, while preparing this article.
The key is to build a list of dynamic websites, such as news.google, en.wikipedia.org, which are content-rich and include links to many outside resources. Wikipedia is especially convenient, as it contains many specialized portals, list-pages, news pages, etc. - which you can use instead of the main page, to enhance your research even further.
Let me know in the comments how you like this approach to the niche discovery process.
Technorati tags: SEO, keyword, research, niche
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