Market research is extremely important. Before you start creating a website, or finding products and services to promote in that particular market, you need to first find out whether or not there are people interested in the market that you are intending to go into, and more importantly, whether there are ready-buyers.

The reason is because after you have decided on the market that you wish to create an online presence in, you will need to spend the next couple of weeks (or even months) working on your website, driving traffic to it, building, as well as maintaining a two-way communication with your list subscribers, etc.

What I am going to share with you in the next few sections are 3 market research strategies you can conduct online that you can use to determine whether or not the market that you are going to venture into is a profitable one.

 
1. Free Keyword Research Tools

You can make use of free keyword research tools by Google, Wordtracker, or Keyword Discovery to find out whether or not there are people interested in the topic that you are going to go into by searching for the number of searches for the topic’s seed keyword.

For example, if you would like to create a website, and provide information as well as promote products/services on how to learn piano step-by-step, you will want to enter the keyword “piano” into the various keyword research tools to find out the demand, as well as what people want to know about it (so you can create your website and populate it with contents based on what people want to know – that way you will be able to get more traffic to your website).
 
 
2. Amazon

Amazon is one of the world’s largest online shopping marketplace. Here are some ways on how you can make use of it to conduct your research:

i. Find out whether or not there are products dedicated to the market that you are intending to go into.

ii. Look into each and every product and find out how the percentage of visitors who purchased the products after seeing it.

iii. Find out what people are saying about the product (through each individual product’s review)

If you find that there are very few products dedicated to the market that you are intending to go into, then chances are that it may not be a profitable one (which explains why not many people are creating products or services in it).
 
 
3. Google Trends

You can make use of Google Trends to find out whether or not the market that you are intending to go into has a cyclical demand (such as the demand of roses will peak during the Valentine’s day period every single year, demand of halloween costumes peaking during the Halloween period, etc.) or it has a year-round demand (such as weight loss, make money online) where people are looking for information on it throughout the year, or the market has no demand.

The following is a screenshot of Google Trends, where I did a demand comparison between roses and halloween costumes – You can see here that the demand of roses peak during the beginning of the year (toward Valentines’ Day) while the demand for halloween costumes peak nearing the Halloween period:

 
 
The above are 3 simple market research strategies that you can use to determine whether or not the market that you are going to venture into has demand. Conducting proper research before going into it will certainly save you lots of time (in that you will not spend anymore time on that market if it has no demand) and pain (the pain of not being able to see any sales not because you are not doing things right, but because the market that you are in has no demand at all).