To operate a successful online business needs lots of factors. Analyzing the niche market before the action is critical, even though the business owner has excellent service skills/products in offline mode. After all, we invest in the online business should be based on the niche market demand and reward.
Let’s talk about the online market analysis from two sections: market search demand, existing competitors
Market search-demand decides your sales amount
1. Search-demand can be obtained by keywords research
For traditional business, it’s hard to know the market purchase potential. Sometimes, the social survey of interviews can reveal the purchase desire of a group of people, but such samples usually have a limited amount and can’t reflect the whole local market real demand.
But this is not an issue for online business. During the recent 10 years, people need a certain service/good, they tend to use the search engine to get the relevant information, such as providers, price comparison, review, and so on. Then they make the purchase decision. In other words, we can reckon the keyword search statistic data as the potential market demand.
For example, the chart below shows that different industries have different search demands, which can be referenced for related online market demand.
|Keyword||Search volume / month|
|air conditioning brisbane||2400|
|t shirt printing melbourne||2400|
2. Advanced keywords research provides a more accurate result
Even taking the keywords as the reference of niche market demand, we still need to research the niche keyword segment. There several reasons for it.
Generic keywords have more competitions
Generic keywords mean words like “Australian plumbers”, “Brisbane lawyers”, “Australian online shop” and so on. Every business owner wants to rank their website in the first position of such search result.
However, you will find most of this kind of generic keywords searching results are occupied by business giants. Why? To achieve the goal needs lots of resources and investment. So It’s not a reasonable and profitable goal for small-middle size business owners.
Segmented keywords / Broad match keywords have more accurate traffic.
Generic keywords have lots of search demand indeed. But it doesn’t mean all the search queries look for legal service. For the sake of our investment has the maximum return, we need to find out the most accurate keywords for our business.
For example, a Brisbane family law firm, who focuses on the family legal service, is not worthy to invest money in the keyword ” Brisbane lawyer”. Why? The reason is when visitors searching the keywords ” Brisbane lawyer”, maybe they just want to find a Brisbane conveyancing lawyer. But when people search for “family lawyers North Brisbane”, their demands will be very clear.
We list some of the niche market data below.
|Segmented keywords||Search volume / month|
|air conditioning installation brisbane||880|
|ducted air conditioning brisbane||720|
|landscaping brisbane southside||140|
|plumber brisbane northside||390|
If you want to know more detail about your niche online market demand, contact us.
How to choose appropriate competitors
Competitors are always existing
When we search for a certain keyword, the search engine will normally return10 URLs on the page for choosing. They are all the competitors between each other.
That means even we segment the business-related keyword, we still have to face lots of competitors in the same niche market.
We can still use the example above. When we search the keyword “family lawyers North Brisbane”, except PPC advertisement, we will find the search engine returns 10 different websites for choosing. Each of them is providing the family legal services and located in North Brisbane.
As we can’t change our business industry, but we can choose our competitors to avoid useless investment and win the campaign.
Choose a suitable online competitor
In the real world, Every business owner prefers to pick up the weaker company instead of the business giants as their competitor. So does the online market. If we found the returned results including business giants, we need to consider whether or not to use certain keywords as the major keyword.
For example, if you want to start your online business, we advise you can search the keyword related to your business. Then you need to check how many returned URLs belong to famous websites. If all of the URLs’ domains with high authorities, choosing another keyword maybe is smarter.
If you can’t confirm what keyword is suited for your business, don’t hesitate to contact us.