Is Your Idea Profitable?
This is an important part of the pre-searching you will need to do. After all their is no point in developing a product if no one wants to buy it
Following is a simple but very effective method, of finding out whether your newest idea has market potential.
But before we start remember to narrow your niche as much as possible. Using a key word like "gardening" is just to general a term and will do poorly at getting you sales.
But if your key word is one of the lesser searched words, like "herb gardening" then your chances increase by targeting your market better.
The more targeted and specific your product and key words are the better your chance of success. Once you have a very focused niche you can test your ideas as follows.
First we want to check http://inventory.overture.com/d/searchinventory/suggestion to see how many people are searching for your keywords
If you key words show for more than 1000 searches you have something people are looking for.
Next you want to check http://www.google.com to see how many places are already supplying this market using your key words.
Look for a ratio of about 1/100, in other words if your key word showed 1000 searchers then you don't want more than 100,000 sites as competition.
Now 100,000 may seem like a lot of competition, but its really only the first two or three pages of results that are your real competition. Very few people search past those first few pages of results
Our last test tells us if people are spending money on the products your key words represent. Go to overture “View Bids” tool at http://uv.bidtool.overture.com/d/search/tools/bidtool/
Again type in your key words one at a time, look at the prices the advertisers are willing to spend for that key word.
If they are willing to spend .25 or more per click then their is some potential money in that particular niche. The more they are willing to pay per click the hotter the market potential becomes.
Advertisers do not spend money to advertise things that are not selling, it's as simple as that.
Just test, test, test, then do it all again.