71. Thirty Day Challenge Days 7 and 8

Ed promised us ground breaking stuff in terms of Market Research on the Thirty Day Challenge, and yesterday and today, he did deliver!

Yesterday there were videos on how to use the free Wordtracker tool effectively in collecting data about any niche. Then we were shown how to do proper searches in Google to determine how many other sites use the same phrase. The objective is to be number one in google for a particular phrase, which we will learn how to achieve over the next two weeks. And because we are being shown the correct way to do market research, we will know what we need to do, to create at least one sale per day. I think I’m right in saying that 100 visitors will bring one sale a day on average, providing you provide good content on your site.

Today we were shown how to confirm Wordtracker’s numbers using Google Trends.

Because Ed’s 30DCIII and ‘Immediate Edge’ partner Dan Raine has a site that he knows brings in approximately 500 visitors every day, they are able to use Google Trends to do a comparison between Dan’s phrase and any potential niche phrase. If the graph for your own niche phrase is higher than Dan’s phrase, then you know you will get more than 500 visitors a day. Or if it’s half as high, you can safely assume you’ll get around 250 visitors.

Up to now, internet marketers have used Overture and Wordtracker and other tools to guess how many visitors any key phrase will get, but they are only estimates. Never before has anyone been able to know for sure. Thousands of people have built entire websites, populated it with tons of content for a niche they are told gets traffic, but then found out to their cost that there is no traffic.

Now we know how to take the guesswork out of it. So there is no excuse for creating products for markets that don’t exist. There is a lot of other criteria too for obtaining the perfect niche and key phrase, far too detailed to go into here, but when I saw how easy it was, I was quite relieved. Now Ed says this is the hardest part. And it’s all downhill from now on. I hope so!

I’m pleased to have found a niche and phrase that meets the criteria. In fact the graph indicates that I too will get around 500 visitors a day if I’m in top position on Google. I want a back-up though, so I’m continuing the market research until I find more viable phrases.

Today has produced a flurry of activity on the forums, with people asking questions about their own findings, without divulging their niches of course, for obvious reasons.

Some people say they have found 20 phrases that meet the criteria. They must be doing something I don’t know about then, because I’ve been hard at it for two days, constantly checking hundreds of phrases, and only found one that has under 25,000 competing sites, and more than 200 searches a day.

Actually 100 searches a day could be profitable, but Google Trends doesn’t show up searches that are that few, so there’s no way of confirming the numbers.