E-commerce has just grown so fast and taken over the entire world. More and more traditional businesses are adding or switching to the e-commerce market for lots of reasons. Most of which involve saving money and easier communication with customers all over the world. It’s grown exponentially as more customers just want to save time in their shopping. At the same time, more and more people are creating a more personalized experience for their customers. This makes it feel as if they’re in store without the hassle.
The next level for businesses at this point is to differentiate themselves by finding the untapped markets online. Since anything is practically available on the internet, the strategy involves a thorough search. It’s all about finding products with high demands and little competitions. You can start out by searching keywords that are usually asked about on different search engines.
From this point, how can you find and choose the niche that profits you the most? There several tools you can use.
We’ll be discussing some of your best options in order to find utilize your niche. Let’s get your online business going!
1 / Google Trends
Google Trends is a great analytical tool in knowing what keywords are being searched and have been searched on Google. Their database contains searches start all the way in 2004 to the present. All this data is given in a graph that’s easy to comprehend. You’ll also find out which search terms are the most popular. It can also give you keywords and other search terms that’s related to the keywords you’re currently using. The best part? It’s completely free to everyone.
The related categories are broken down into many things. Aside from related search queries, it can also go more broad with the topics users search in association with that. An example is if you search for trends about brown rice, wheat bread may also turn up as a related topic people are also searching.
The search terms may be divided into three types: top, rising and breakout. Those in the top category are terms that’s been searched the most throughout time. Meanwhile, the rising category are those that have been growing more fame in searches lately. The breakout involves searches that just had an intense surge of searches very recently. It’s quite hard to work with the breakout category though as this can easily die down. At the same time, they may also be the sign of a new trend. This is why you should research before choosing to go with it.
2 / Amazon
Amazon is a somewhat unexpected tool for market research but it’s very beginner friendly and mostly accurate. All its items is ranked by popularity so you can just look into the broad categories and slowly narrow down. From there, you can probably find a niche that is untapped but actually super profitable.
You can start out by searching for a broad topic. If you don’t have one in mind, you can look into the categories that are pre-set on the homepage of Amazon. You can look into it all and find something that interests you. Scroll into the product info of the item. It’s popularity will be shown into the category you’ve chosen. Always not that you want this to be extremely low.
There are also subcategories you can check out on the page. You can look among these and explore into finding a nice that sells well, interests you and without much existing competition. It’s quite a search but with all these tools being free and available at your disposal, Amazon is just heaven sent.
3 / Trend Hunting
This is a much harder strategy as you aren’t making use of a particular analytical tool. When you’re moving forward as you do research, you’ll see that there will be certain brands that are attached to you niche. They’ll turn up over and over again so it’s important to take notice of them. If you go into what these brands are doing, it’ll be easier for you to know what trends are coming up related to your chosen niche. It’ll take some time to read blogs, events and other public info that bigger brands are doing. This information is gold though so stay patient and read through it all.
There are also a lot of Instagram pages and blogs that focus on trends and trend forecasting. This is great to easily check what the public is eyeing at any moment. It’s all about trying to find the right blogs that are catered towards the same market as you. It’ll easily provide you a great starting point towards creating ideas.
4 / Build your site
When you already have a good idea of your market and the products you’ll be selling, you can try creating your site. There are lots of options from WordPress, Wix, Square Space and a lot more. This may seem overwhelming at first but digital marketing is the best route to go. Online marketing is affordable, easy to maintain and gets you the most publicity with the least amount of money. There’s so many tools available, just take your pick.
It can be a headache trying to find that perfect product but once you do, it’ll just be a matter of time before your product no longer becomes a niche and starts to become a leader in its own growing industry and isn’t that just the dream?