8 Tips To Research Ideas for Online Business

Research Ideas for Online Business

The internet is like an ocean. An ocean is wide and deep, full of mammals, fishes, vegetation, and plankton and yet unexplored frontier. Just as you can easily get lost in an ocean, you could get confused when you start your online business.

The good news is you can build a successful internet business, if you take the time to lay the foundation. The secret to building a solid business that will past the test of times is to do proper research.

research ideas

The good news is that researching your market is easier than you think. You can find all the answer to most of your niche in less than one week.

The focus of this article is to show you proven tips to help you do effective research that will lay the foundation for a successful business online

Before we go on to talk about these tips, it is important to understand some rules about market research:

  • You must be interested in the market you plan to do business
  • You must be willing to go where your prospects "hang out" and find out their problems
  • When you find out the problems of your niche, find out the common solutions to their problems. And finally be ready to deliver the solution to your prospects problems

Here Are Some Useful Methods to Get You Started

Tip 1. Start with the bookshop
The bookshop is a good start for doing your research. There are virtually books on any topics you can imagine. Studies show that nonfiction books outsell fiction books by a wide margin. You should look at the bestselling books in your niche.

They are bestselling books, because they provide insight or attract the prospects in your market. Look at the index for keywords relating to your niche

Tip 2. Check Google searches
Google is the largest search engine in the world. Google works by indexing the websites with the most relevant content to a keyword search. This is good news for you because you can find out more about the competition and understand your potential market better.

Google also help you gauge profitability of your market when you look at the pay-per-click campaigns and bid price they are paying for keywords

Tip 3. Look in blogs
Blogs have become very popular on the internet, since the advent of social media. Blogs are important for doing customer research and understanding the problems of your market. Blogs could also be a source of free marketing especially if your products delight your customers.

Tip 4. Check online forums
Forums are the online equivalent of communities. Forums are helpful especially if you want to understand the frustrations of your customers'. The conversation you hear in forums could be a very rich source for content and product creation for your market

Tip 5. Sign up for newsletters in your niche
You can sign up for free newsletters of the top companies in your target market. When you sign up to these newsletters, you become a customer, and receive promotions and special offers. The key to success is to study the competition and get ideas for your own business

Tip 6. Check open question forums
Yahoo answers are an online forum where you can get answers to any question. The question owners are then asked to rate the answers. There are many categories on the forum, so you can choose the category that represents your niche.

The secret to success is to check the recurring pattern of questions relating to your niche. You can then use these questions to create solution-based products to offer your market.

A note of caution: Most of the questions you get are quite frivolous but if you take your time, you can still sieve gems of useful questions for your content creation

Tip 7. Look at the key word phrases
Key word phrases are the lifeblood of the internet. They give clues to what your prospects want; the search engines index keyword searches.

There are two kinds of keywords: broad keywords (these are general words like "make money"), and long tail keywords... phrases that are longer but more specific, (instead of make money you could search with "how to make money in Miami").

Broad keywords are very difficult to compete for because the major corporations are using them and you do not have a large budget.However, the longer tail keywords are easier to compete for because they tend to represent a narrow niche.

Tip 8. Check the Amazon bestseller list for your niche
The largest online book retailer has a bestseller list for both nonfiction and fiction books category. Checking the bestseller list is useful for two reasons : You can gauge the trend of consumer demand and take advantage of the trend in creating your product.

The second benefit of researching the bestseller list is to look at the keywords that appeal to your market. It is possible to succeed online.

Many entrepreneurs are building successful business online. The secret to success on the internet is to build a solid foundation for a viable business.

Your key to success is... doing your market research. Use these tips and you will succeed.
To your success
Think rich and grow

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