Do the terms market research or keyword research leave you scratching your head wondering where to start?
Do your Google searches for research tools bring up a lot of expensive software and services to buy or subscribe to in order to do your research “effectively”?
Don’t get sucked into this marketing trap!
You don’t need any paid software, and you don’t need much special knowledge. All you need is Amazon!
That’s right, you can conduct your market research when entering a niche in the same manner you would shop for a new product on Amazon. Let’s jump in!
Here is a video that will walk you through the process of using this tool...
Where to Start
The best place to begin to find a hot niche and find out how to market to that target audience is…*drum roll* Kindle Best Sellers! Get there quick by clicking here -OR- head over to Amazon.com, go to the Kindle Books section, and click Kindle Best Sellers in the left sidebar:
Once there, you’ll notice the main Kindle categories now appear in the left sidebar, and you can choose any of them to view the Best Sellers for that niche and you can drill down into sub-niches, to get more specific, too.
Although you may not realize it yet, this information is priceless!
Let’s choose an example niche and break down how you can perform your research; no special tools required. Just you, an Internet connection, and a little time.
Finding Your Niche
Using the left navigation, we’ve chosen a niche as follows: Computers & Internet>Web Marketing.
Amazon presents us with the 100 top sellers for that niche.
TIP: You might have a bit of trouble finding certain niches by their common names. For example, using our example, you might search for “web marketing” with the prhase “internet marketing” so pay attention to the categories Amazon lists and try several searches if you don't find what you are looking for, right away.
Now you are ready to explore your niche.
Compare and Contrast
Decide a number of items to analyze. It’s up to you how deep you want to go. Here’s an idea:
- Up to 5 - Good introduction to the niche. This will get you started with a brief understanding on what is working in the niche if you are considering entering that niche.
- 10 - A nice in-depth amount of research that will help you understand more about the wants, needs and desires of the target market for this niche.
- 20 - A complete portrait of the current concerns in the niche, you can find ideas for USP's (Unique Selling Propositions) and you can often find out what is 'missing' from your competitors' content that the audience is wanting to learn about. This is the gold mine!
- More than 20 - Often too laborious. The goal isn't to 'make it through' a certain amount of listings, but to learn enough about the target market and their needs/wants/desires so that you can position yourself, your content and your products as the solution that your competitors are missing.
A Quick Overview
Take your chosen number of items and perform a quick overview of them all. Outside of your market research, pay attention to titles, taglines, and book covers.
Titles are like headlines and play into why a certain book is selling better than one with an ineffective title. What kinds of taglines are authors using to describe their work?
This also comes into play in the art of the sale. While every cover in the best sellers list may not be particularly attractive, they are most-likely professional and created by a professional designer.
The other things you want to pay attention to are:
- Number of Reviews
- Star Rating from Reviews
You might be surprised to find that not all best sellers have high-end price-points. The number of reviews is a weak indicator of sales numbers, but the more reviews a book has, the more sales.
The ratio of buyers to reviewers is actually quite a great divide. Very few readers take the time to leave a review.
More stars equals more positive reviews, but you don’t necessarily want to concentrate on the best reviews. We want to know the good and the bad. This information will help you to uncover unique ways to enter new niches and how to tailor your products better.
Is This the Best Niche?
The niche we’ve chosen for our example is a pretty broad one. You can also use this method to find out which niches are the hottest. Even more valuable, you can find lesser-known niches where there is plenty of room to make money! It will take a time investment, but knowing those little tight niches is GOLD.
Getting Information From the Best Sellers List
- Titles & Subtitles - The title of the book is the hook and titles combined with subtitles are often what sell books. They grab the attention of a user browsing for information in the related niche and books that sell well often have the best titles/headlines. Take notes on what titles sell best.
- 5 Star Reviews - These are the people who are passionate about the content of the book and how effective it is. Knowing what people love will help you model what is working for others giving you an advantage understanding what works in your marketplace.
- 1 Star Reviews - These are the people who are passionate about what they didn’t like, what’s missing, and how it could have been better. You can quickly tune into under-served segments of their audience and create what they felt was missing.
TIP: Pay special attention to any reviews with labels as show below:
These are guaranteed to be serious and honest reviews from top reviewers on Amazon. They are not paid or friends of the author, they are honest people trying to make Amazon a better community.
Your research lets you go straight to the people you are trying to reach for their opinions.
Those reviews are written by your target audience and the 5 star and 1 star ratings are filled with PASSION! It’s like surveying your potential audience and asking them what they love and what they hate.
They have written these reviews to tell the author and other potential buyers what they liked or disliked about the product. This allows you the very valuable knowledge of what they need to know more about.
How To Use The Information
No matter what your business model is..whether your create products yourself, hire others, or promote products as an affiliate, this information is useful.
If you work in the service realm, as an SEO or consultant this information is also invaluable to you because it gives you insight to the psychographics of your target market.
When you now know what your audience wants and does not want, specifically, you can adjust your products, services and marketing messages accordingly.
Other ways to use your research:
- Headline ideas
- Blog post ideas
- Meme ideas
- Ad copy ideas
- Ideas for free reports
- Book ideas
- Establish a unique selling proposition
Starting to see how much valuable information is inside of Amazon Kindle's Best Sellers List?
Is this is better than the now defunct Google Keyword Tool? Well, it is honestly different and they compliment each-other.
By using the same tools that Amazon has set forth to sell products as your tools to do your research, you instantly get to see what is selling on the world's largest marketplace! It’s brilliant!
With the phrases, titles, subtitles and keywords you get from your Amazon research, you can then go plug that into Google's Keyword Tool to cross reference for additional ideas, niches and sub-niches that may be perfect candidates for you to market to, over time!
To learn more about Google's tools to help you do keyword and market research, click and go here.