Finding Supply & Demand and Understanding Your Niche
Thorough keyword market research for your online venture can lead to phenomenal results. Being able to find keywords, assess demand, supply, market saturation, the people running Adsense ads, and the most popular sponsor being promoted is really handy to know because it gives you the ability to setup your internet marketing strategy in a fashion that is relevant to the current market conditions for optimal conversion rates. If you have sites that you intend to generate organic traffic to, paying attention to the proper keywords in effect give you some control over the type of traffic your site attracts. Likewise in pay per click advertising, you can control the traffic you chose to pay for. Great research allows you to fine tune the efficiency in which you make the sale. Its all about giving the people what they want.
If you were to do market research manually, you would have to Overture's Keyword Selector Tool, type in a keyword or key phrase that you are interested in researching, hit go or enter, and receive a list of related keywords and the times that the terms were searched last month. Copy that information into a spreadsheet. This allows you to determine if there is sufficient demand. To get some information on the supply, you would have to go to Google search for the amount of results returned for each keyword. Take the supply and divide by demand and that gives you the supply/demand ratio. For example if we have 900 searches and 15000 results we would have a supply demand ratio of 16.66. This means that there is approximately 16 suppliers for each potential customer. Knowing this can help you to find unexplored niche.
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