Market Research Tools
Market research isn’t really getting the publicity it deserves these days. Even though the process can take some time, it is still the most important thing you can do when launching a new affiliate business or joining a new niche.
Thankfully, market research has become much easier to perform in the recent years. Various online tools can help you to not only choose the best niche for you, but also tell you how difficult it can be to build a strong search engine position in it.
Here’s a list of top market research tools.
Google Trends is a great tool to start your market research with. The goal when using it is to determine whether there’s a market around your initial seed keyword.
The seed keyword is something you need to come up with on your own before using any tool. It’s the broadest phrase defining the market you’re thinking of pursuing. Example: “guitar playing.”
When you put your seed keyword into Google Trends you’ll see a graph of popularity. The tool doesn’t give any exact data, but you don’t need it at this point. Here, we’re only determining that Google notices a market for your phrase. If the results are positive, you have a good seed keyword.
Now it’s time to get some concrete keywords. Go to Google Keyword Tool (GKT) and input your seed keyword. GKT will return a range of related keywords.
Select the keywords that make sense to you and put them on a separate list. (Pick only keywords that have 6,000 searches a month or more.)
GKT is pretty good at suggesting keywords, but if you want to get more data you can try some additional tools, like:
- Wordtracker Keyword Suggestion Tool – the free version of the tool will show you 10 suggestions for your seed keyword. If you want more, there are premium accounts available.
- SEMRush – apart from keyword suggestions this also shows you CPC prices and competition (presents 10 keywords in the free version).
Now it’s time to take your list of keywords and check how competition-heavy they are.
This tool is a part of the Affilorama Premium package (30-day trial available for $1). It takes your list of keywords and tells you how competitive and difficult they are to rank for.
The tool provides details like: SEO competitiveness, commission payment strength, and overall market strength.
SEOmoz offers a great package of tools, one of which – Keyword Analysis Tool – is a good alternative to the Affilorama’s tool.
The tool takes each of your keywords, analyzes the competition and gets back to you with a score representing how difficult the keyword is.
Once you have a list of 3-5 keywords that are both popular and not that difficult to rank for, you can start building your new affiliate site. With some dedicated work you should be able to get it to the top spots on Google in a relatively short time.
What’s your approach at doing market research? Do you use any of the tools mentioned here?