Research, Research, Research.
Don’t waste your precious time.
This is my 100 Blog Comments Challenge Post
We are all anxious to get our products on Clickbank and hopefully see some reward for our efforts, but have we done the research to see if we have chosen a profitable niche?
In my case the answer was no and while recently researching the niche I had chosen and produced a product for before joining the MC course, I have found out that luckily it just about qualifies as popular. Having said that it certainly isn’t going to be a massive seller. I probably spent around 3 months writing the ebook and since then another 6 months wondering if it was good enough, hoping the MC course might be able to improve it. This hasn’t been the case and who knows how many copies might have been purchased in that time. As all the experts say – just do it – which is excellent advice.
I wrote a second ebook on a similar theme but through some research last week I have found that there is no demand for the product, so that was another couple of months of wasted effort. This product will be given away as a bonus for the earlier book and does qualify as a good add on for the original.
While writing about our passions or areas of knowledge, it isn’t always profitable as the next paragraph shows.
To further emphasise the need for proper research into our chosen niches I had a list of 21 potential subjects to investigate. I soon discounted 4 as they were in very competitive niches and I am looking at micro niches where the competition is less severe. Of the remaining 17, of which I had high hopes, 15 proved to be unprofitable, with minimal traffic to the web pages of similar sites in Google. How much time could I have spent writing ebooks on these subjects with no hope of sales?
Is this the main reason people quit IM? Do they produce a product in a nich they are passionate about and when it fails they lose heart? This could have been prevented and who knows where they would be today if they had done their proper research.
As a matter of interest the criteria I was working on to ascertain if the niches could be profitable were
1. At least 3 keywords in the micro niche.
2. At least 80 page visits per day.
3. No more than a 15% deviation of the keyword phrases.
4. A maximum of 30,000 competing web pages.
5. A Google page ranking of 2 or less.
6. A low number of backlinks.
7. No paid Yahoo advertising.
8. No keyword phrase in the title page.
9. No keyword phrase in the website url.
So please do research your chosen niche before committing yourself to a project which may well turn out to be a wasted effort.
That’s very interesting Bill, do you use any software for your research or is it all done manually?
Like you I intend to write about something I am passionate about, on the other hand if prior research proved the subject to be unprofitable, I wouldn’t want to waste my time.
Your post title sums it up; research, research, research.
John
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John McNally
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August 2nd, 2010 at 5:52 pm
I bought Market Samurai last year Bill, but it’s on an old computer that has a virus, so I don’t use it. After reading your post I decided to have a look in my files to see if I had kept any details, and luckily I had downloaded all my membership details. So now I have Market Samurai installed on the computer I use. Thanks Bill
– The software looks really powerful, and I think I will be playing with it a lot. 
John
John McNally recently posted..Squeeze Page WEBSITE
[Reply]
Bill Murney
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August 18th, 2010 at 7:16 pm
I’ve been on holiday John, so apologies for the late reply. I have a lot of catching up to do with the 100 comment challenge as well as other projects. I think Market Samurai is one of the best pieces of software I have come across in my short venture into IM.
I am very cynical about claims made for new products and must admit I have never been one for jumping in and purchasing on someone else’s say so but I think MS is now an essential piece of kit for anyone hoping to make money in this game. Bill
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Hi Bill
You are dead right about Research being the stumbling block…with the information you will learn throughout the challenge you will be both perplexed and happy about the things you have done in the past.
If you complete the course, which I’m sure you will, you will look at Internet Marketing with a very different view…a more profitable one too, certainly in terms of time saved.
Good luck with both the Challenge and the Masterclass, if you ever need any help just pop by and say Hi
cheers
Steve
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Hi Bill
Sometimes we can spend so much time researching that we don,t actually finish what we started! you have already produced 2 ebooks and while they may not make you a fortune! you have learnt so many things on the way!
And you never know ! the next one could be that one!
Keep up the good work!
Nick
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Hi Bill,
Ironically I have had to side line Ed Dales challenge, silly me made a bimbo comment in the MC forum and we have started a blogging challenge. Ooops!!
Research is the absolute key to ones success online!! Both keyword and market niche!! So many people start online not understanding about doing their research. I believe people should actually approach developing a business online just like developing a business offline. They should do a business plan first!!
See you back here soon!
Cheers
JAcinta
P.S Join the 100 blog comment challenge with us!!! The aim is for 100 comments on a blog post! Great for traffic, and ranking!
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Hey Bill,
I’m going to have to do some research just on the stuff that you talked about in your post. Some of those terms like page rank are new to me. Does the software you were talking about to John tell a person this stuff?
Very good post, mister. I really love the openness to discuss mistakes and your learning is much appreciated.
Thanks very much Bill, have a grand day.
Barry
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Hi Bill, You’ve made an excellent point and one that i will follow.
I’ve signed up for Ed’s challenge, but as yet haven’t started it as i have so many other things that need doing first. I knew this when i signed up but done so anyway as i was told that the modules stay online untill the next course comes out.
Having read this post i will now make a point of starting it ASAP.
I am also taking part in the 100 blog comment challenge and have created a page on my blog to list the contributors details. So when you jump in let mehave the url to your post and i’ll add it to the list mate.
Compliments on the post Bill, it’ll save lots of head aches.
Barry
Oh, the page of contributors can be found at:
http://barry-wells.com/contributors-to-the-100-blog-comment-challenge/
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Hi Bill, I don’t believe any effort is wasted, as Nick said look at what you have learnt on the way. Sometimes it’s best to practice on some products before going for gold. The ones that sell well will be all the better for the previous experiences you have had.
Enjoy the journey.
Mandy
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I think I need more research on research…lol
I have to admit it’s something I neglect, due to the utter boredom of it all…lol
But I know I really should do more of it!
There are so many tools out there that can help with research, but being honest, I tend to ask a few people what they think whenever I come up with an idea…
If I get a positive response I’ll build a basic site and see how it goes…
That way I’m not investing too much time initially, and if the basic site starts getting some traffic – then I’ll look into the nitty gritty of getting something more solid done.
I find this stops me from getting too bored with it all.
I know I have the advantage of having many resources at my disposal – like plenty of hosting, a graphics designer and a hard drive stuffed with years of articles and products I can adapt and use.
But for people staring out and without the financial resources – research is such an important factor often neglected!
Randy
http://www.RandolfSmith.com
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Bill Murney
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August 18th, 2010 at 7:24 pm
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Hi Bill how true, thanks for this important reminder and time saver. It’s important to everyone to INVESTIGATE before you write. Terry Conti
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Hey Bill
Excellent post. I am only fairly new to blogging so I will take note about doing proper research for my niche before heading off trying to create content for an E.book.
It sounds as though you have learnt a few hard lessons with all the effort you put into your books. I am still trying to find my niche, so it sounds as though it may be beneficial to partake in the Masterclass. Just by partaking in this challenge I have learnt a lot by visiting other peoples blogs. What are the niches that you are working in and why havent they been successful?
Stan Young recently posted..The Naked Chef Jamie Oliver’s Food Revolution- Teaching kids how to eat healthy and the debate over a “Fat Tax”
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Bill Murney
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August 18th, 2010 at 7:29 pm
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Hey Bill,
Like what John McNally said, I also started my online venture thinking I could just simply follow my passion, which I realized eventually (In a hard way) that we need more than just passion to work it out.
But the word “Research” used to trigger the “boredom spider” in my head, if you know what I mean. I know is an issue I have, and I am guessing that I am not the only one.
I manage to overcome my Research Phobia and my struggle of searching a “profitable passion” from a webinar by a guy called Kevin Wike who said that if you can’t find a passion that comes with a profit, at least find something that is profitable and you have “An Intellectual Interest” on it.
That’s the breakthrough I needed!
I later realized that this 2 words “Intellectual Interest” serve me better in a sense that, unlike Passion which is something that seems to be in us naturally,Intellectual Interest is something I can develop through learning and education.
This is just my 2 cents opinion.
What do you think?
Cheers
Jason Ser
P/S: I have not given up my Passion yet. But I enjoyed my “Intellectual Interest” adventure as much.
[Reply]
Bill Murney
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August 18th, 2010 at 7:42 pm
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Jason Ser
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August 20th, 2010 at 3:36 am
Hi Bill,
Thanks for your reply. Like you said, unfortunately most so called “passion” won’t be necessary profitable. I also fill that the word “passion” is really an overrated words. I mean, one can say he love to collect stamps, but most who said that are taking it as a spare time hobby and may not last more than a year or 2. A passion stamp collector spend way more time, money and resources. He attend trade shows, exchange thoughts and idea, reads tons of material …etc. I am talking about a classmate I known when I was 16 who started his stamp collection. The last time I heard of him, he is still doing it, as a 39 years old dad.That is really a passion of him.:)
Cheers
Jason Ser
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Hi Bill,
You have given me very timely advice. I am at the stage of the MC course at the beginning of the product development phase, where John has asked us to research. Yes, in the past when I have started other courses I have given up at the ‘finding a profitable niche ‘stage. It was confusing and frustrating – information overload! This time I am determined not to give up.
Many thanks
Janice
Janice recently posted..Setting Goals
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Bill Murney
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August 18th, 2010 at 7:52 pm
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Hi Bill
I think I’m the worlds worst at research. I do some but never enough.
I hate it, I’m hopeless at it and it will be the first thing I outsource when I’ve got the money.
But yes your right Research, research, research.
Gert
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Bill Murney
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August 18th, 2010 at 7:57 pm
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[...] However a comprehensive analysis of both keywords AND profitability can be completed with Market Samurai. For a profitability checklist have a look at the excellent post by Bill Murney. [...]
Bill,
Research is crucial and I am glad you have mentioned it. I spent a good deal of time looking at the figures for another site I operate and found that the traffic figures closely match what my research said it would.
When a high demand, low competition niche cannot be located you may have to select a niche that has a little more competition but not less demand – without demand you do not have sales – and apply more passion to achieve your desired success.
Michael.
Michael Pedzotti recently posted..Guess who is guest posting
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Bill Murney
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August 18th, 2010 at 8:23 pm
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Hi Bill,
This is a very good post, and at long last I have discovered that the two most important pieces of the puzzle are the right niche and traffic. These are the two areas where I am struggling. All the rest is learning the technical aspects of internet marketing. Your post on research is absolutely spot on
There is no point in slinging together an ebook and expecting anything from it. Apart from the exercise of putting it together, which admittedly has some value, it is a waste of time. There are thousands of ebooks, mostly free, banging around the internet and there is no point in adding to that number.
Your post has concentrated my mind on what needs to be done and I thank you for it.
Best Wishes. Brian.
Brian Ripley recently posted..Persistence and Perseverance
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Bill Murney
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August 18th, 2010 at 8:35 pm
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Hi Bill,
Niche market research can be awful. I have spent time and money in the past setting up niche sites, thinking I was going to kill it with them. Then after 3 months work adding content every week, a couple of sales or worse, nothing.
It can be so frustrating. I think you are right about people starting out, don’t see results and quit. Then tell every body that Internet Marketing is a load of BS.
You have a great blog here.
Really enjoying the 100 comment challenge.
Pete
Pete Carr-Blogging Genius recently posted..Blogging-Why You Should BePart 1
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Bill Murney
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August 18th, 2010 at 8:39 pm
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Hi Bill
You make a very important point about research, Bill.
One thing I have learned is not to discount competitive niches, they are competitive for a reason–there are lots of buyers.
I think there is always room, even in very competitive niches, for people who provide quality and are able to ‘connect’ with their readers.
Best wishes!
Stuart
Stuart Turnbull recently posted..We need your ‘make money online’ ideas!
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Bill Murney
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August 18th, 2010 at 8:46 pm
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Hello Bill,
Research…. not a strong point with me but I am getting better.
Love your blog and the content… have learnt so much from the wonderful people on this challenge…. so glad I go invited as I am not in the MC with John yet.
Cheers
Bryan
Bryan McHeyzer@The Internet Intern recently posted..Increase Your Squeeze Page Conversion Rate!
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Bill Murney
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August 18th, 2010 at 8:50 pm
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Hey Bill,
Thanks for sharing those parameters. That was useful!
J
Make Money Fast
Carstarphen recently posted..Are Your Weaknesses Defeating You
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Bill Murney
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September 6th, 2010 at 2:16 pm
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Hi Bill, this is great advice I know for a fact that you can get really passionate your subject only to find that its not a big market and using your checklist would help, its easy to get distracted.
Don’t think of the time producing and writting your e-books as time wasted, it reall an apprenticeship and you may be able to use the content for other things such as article marketing.
Keep going
Rob
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Bill Murney
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August 18th, 2010 at 8:58 pm
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Hey Bill,
You have hit the nail on the head with this one. Research is key to success and as it can be a bit boring it has to be done. Also many marketers are passionate about a certain subject or niche but do not realize that there is not really a business for it or the demand.
I will take the list you have providing and use it to help research my findings.
Cheers
Craig
Craig recently posted..Put Your Email Marketing On Auto Pilot By Using An Auto responder
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Bill Murney
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August 19th, 2010 at 1:08 pm
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Hi Bill
You are right about doing your research, I created a website got onto page 1 of Google for its keyword,a friend asked how I was going to make money out of it? Doh, did not think about that part, this was a review site with a browsers keyword not a buyers keyword.
I have put that project to one side for the moment, because I focussed on the keyword and not on the market desire I need to rework that site.
Research is great but it has to be the right research!
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Bill Murney
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August 19th, 2010 at 1:13 pm
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Hi Bill,
The research is one of the hardest parts for me. It’s tedious and time consuming.
The automation tools are great, like Market Samuri. I had the trial for a bit and liked it.
The free tools work too but some of the paid ones seem to have more options to really hone in.
All the best in the challenge,
Sally
Sally recently posted..One of the Top Tips!
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Bill Murney
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August 19th, 2010 at 1:32 pm
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[...] http://billmurney.com/blog/research-research-research/ [...]
Hi Bill,
Great post!
I write about what I do and where my passions are. Since I have been in the internet marketing niche for 5 years or so now I guess I’m stuck here:)
I guess I’m with Randy on this one. Just an old dog with too much on my hard drive!
Daniel Sumner recently posted..Self Learning – Outsourcing – Student and Teacher
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Bill Murney
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August 19th, 2010 at 1:54 pm
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Hi Bill that’s a great post mate, and your subject forms the very foundation of the information publishing business, it’s so important to get your research right if you want to have any chance of success.
I agree with what you say regarding the need for more in-depth training on how to do research in the masterclass, now as we have identified the need for this, we need someone to provide that extra training… would you like to step up and offer this service Bill?, perhaps through a series of posts on your blog?, or a separate page just dedicated to teaching various research tactics, or maybe even an auto-responder series which you could monetise with some links to related affiliate products?.
Best regards
Pete Chapman
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Bill Murney
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August 19th, 2010 at 2:02 pm
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Hi Bill
Interesting about research. I keep hearing it and wonder if I’m doing it right. Is there a list of best places to use as the basis for your research? Who has the best numbers to use?
Thanks
Alex
Alex@disaster preparations recently posted..Heating
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Bill Murney
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August 19th, 2010 at 2:08 pm
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Hi Bill
Excellent post. Research is paramount! ALWAYS find the market FIRST before producing a product!
I’ve posted a link to this page on identi.ca for you.
Martyn Boaden recently posted..What Was Your Biggest Challenge
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Bill Murney
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August 19th, 2010 at 2:15 pm
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Good points Bill. Once you choose a niche based on that criteria there is no guarantee that some other ebooks or products won’t suddenly appear at the same time or just after launch yours. That was what happened to me with my first ebook. But hey, it’s great experience and a huge learning curve.
Good luck with it.
Sandy
Sandy Halliday recently posted..Generating Blog Traffic with the 100 Blog Challenge
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Bill Murney
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August 19th, 2010 at 2:20 pm
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Hi Bill,
I agree that the research is one, if not, the most important pat of starting an online business. You have to find out what folks are already buying. Target the buying keyword phrases, or trigger words, instead of the information keywords. Here is list of what Marcus Campbell calls trigger words that help you find hidden niches that people are searching for. He recently did a webinar with Socrates Socratous and it was an eye opener. A lot of good information was shared about finding niches and setting up websites that make a profit.
http://simplesitesintensive.com/?p=44
Hope this helps.
Take Care,
Steve
Steve Troutman recently posted..BoilerMaker 15K Roadrace July 11- 2010
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Bill Murney
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August 19th, 2010 at 2:37 pm
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I like your first four criteria, they are good numbers to work with actually, I do, and it makes me money
Don’t get the last five though, not really criteria, more what you have atm, or want to achieve, not that you would want any of those things ?!?
Alex recently posted..The Ultimate Keyword Research Resource – Available Now!
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Bill Murney
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August 20th, 2010 at 10:28 am
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Hi Bill
Great post and lots of ideas
Im in the JT Masterclass and I havnt managed to do my eBook yet as I read through the comments I felt myself getting motivated. I feel I can do it now.
Best of luck in the challenge
Eamon
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Bill Murney
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August 20th, 2010 at 10:32 am
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Hi Bill,
Great education on nailing down a micro niche. I am still perfecting that whole process. But, it can save loads down the road if done properly in the beginning.
Even if you end up writing a product that does not produce a lot, you still get the valuable experience out of it…and, you can use it to capture leads by giving it away for free if it doesn’t turn into a good seller.
I remember John telling us last year that we could get our ebooks written if we outsourced it…but, I am so glad I pushed myself through the process and completed it on my own. The lessons I learned by doing this are priceless and I certainly appreciate what goes into writing a book now! It all goes into that “learning curve.”
Good luck with the challenge Bill…
Kathy
Kathy Dobson@Outsourcing to the Philippines recently posted..Outsourcing to the Philippines…Your Questions Answered
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Bill Murney
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August 20th, 2010 at 10:50 am
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Hi bill Murney:
I added the last name, because there are too many Bill’s. I find a great personality, determination to succeed beyond limits in yourblog post. Yes I came to know about the importance of searcing, key words and SEO after I started article writing. Before that, I went through an advanced marketing course, paying a bundle, paid for website and did not learn enough to be successful. Now it is in my own hand, I search and I learn and I follow. it seems I am on the right track. I am glad you are having a positive experience with Samurai. I will like to read more posts and continue net working. I started 100 comments challenge yesteray only and it seems I have least time.
Thank you for sharing the importance of search.
Talk again
Fran Aslam
Fran Aslam @kw LUV recently posted..How To Write An eBook That Is Included In The Best Seller List
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Bill Murney
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August 20th, 2010 at 10:47 am
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Hi Bill!
Without doing the proper market research by following a good market research method is like playing the lottery! (with closed eyes). Most people think that there is money in ALL niches and that if they create a unique product that is not listed in ClickBank they will instantly start making sales.
WRONG! Do your research correctly! First you need to find a group of people that has a specific problem and that group of people will pay money for the solution. Also the easier and cheaper it is to reach those people the better it is! Create your product AFTER researching and finding that market.
I believe most newbies quit I.M because they aren’t doing the market research correctly before creating a website and a product and all they do is “wasting” their precious time on “useless” and unimportant things that will never work.
Take care,
Andreas
Andreas Spyrou recently posted..The Biggest Affiliate Marketing Mistake &8211 Mistake 6
[Reply]
Bill Murney
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August 20th, 2010 at 10:55 am
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Hi Bill
This is a very informative post and very perfect timing for me. I have been thinking (doing a small bit though) about keyword research, picking up a niche and creating a product. But this whole thing / process scares me .. so its been lying around and me shying away from it. Thanks for also getting me back on track as well
Had a few queries though
1. At least 3 keywords in the micro niche : does this mean you should have atleast 3 keywords in a niche that we should be able to target ?
2. At least 80 page visits per day : does this mean the keyword term is searched 80 times on google per day ?
3. No more than a 15% deviation of the keyword phrases : How do we know the deviation from the main target keywords ?
Cheers!
Abizer
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Bill Murney
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August 20th, 2010 at 11:03 am
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Bill,
Thanks for the succinct way you have of putting things. Like Randy I have a lot of stuff on my computer, IF, I can find it. It is often easier to go looking for it anew than to look for it on this HD.
Research is truly necessary. I know I often try to wing it, and that does not pay off too well. Like my post talks about price vs cost. Winging it is not much different from purchasing based on price and not factoring in the cost.
I will be applying your suggestions and going for the cost factor
.
Thanks,
Justin
Justin recently posted..Cost Vs Price – Is There A Difference
[Reply]
Bill Murney
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August 20th, 2010 at 11:13 am
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Hi Bill,
Great contribution to the 100 comment thingy, I have taken the plunge also and ‘using’ the challenge to overcome a few obstacles, so the insight here from you is perfect.
I agree that you need to do your research, but there comes a time when we have to put the procrastination that can develop from too much research to one side and just jump in with both feet and ”just do it” as you say.
thanks again, see you soon
regards
Richard
[Reply]
Bill Murney
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August 20th, 2010 at 11:20 am
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Hi Bill
I agree Market Samurai rocks. I use it every day and one of the best investments I ever made in my online career.
Research is definitely the first thing everyone must do but sadly many don’t and the other important thing is to go deep down into a niche which is where you will find those little gems even in big markets like health and IM.
Good luck with it all!
Anne
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Bill Murney
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August 20th, 2010 at 12:00 pm
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Hi Bill
Great article on niche research. I agree totally with you that this is the most difficult and important step, but yet a step which many marketers fail to do. Just venturing into something we are passionate about but not determining competition and market demand, we are as good as slapping ourselves on our own face.
However I do believe that every niche that we are interested in could turn out profitable, as long as we put in efforts to determine the micro or sub-niches. I used to want to look for a micro-niche that has less than 10,000 competing pages, but it’s so difficult to find something like that! So currently, I’m happy if I could find something below 20,000 competing pages.
You are definitely moving in the right direction. Keep up the good work!
Rgds
Vivien
Vivien@Internet Marketing recently posted..Five Great Reasons Why you Should be an Internet Marketer
[Reply]
Bill Murney
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August 20th, 2010 at 12:28 pm
As you say Vivien, the secret is looking for the micro niches but finding something with so little competition is very, very difficult. As time passes and more and more people join the IM revolution it will become even harder to find those golden nuggets. Bill
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Hi Bill,
it is easy to lose heart in this online biz stuff when you create a product that does just not sell. I had a similar problem when I first started but instead of quitting I decided to take it on the chin as experience and have since learnt from that experince and make sure I always, as you say ”reseach research research”.
It is crucial whether it is keyword reseach which with the right knowlegde alone can lead to alot of time saved wasting on non-profitbale niches but I think it the knowledge gained that can steer us through as long as you learn from your mistakes!
Bets of luck Bill!
Steve Wilkins.
Steven Wilkins recently posted..Why Do You Need A Mentor
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Bill Murney
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August 20th, 2010 at 12:40 pm
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Hi Bill
Research is most definitely the key, no point spending hours creating a website or product to make money and there is no one out there who is interested.
Regards
Anne
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Bill Murney
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August 20th, 2010 at 12:46 pm
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[...] This post was mentioned on Twitter by Terry Conti, Richard Davy. Richard Davy said: check this blog entry – http://billmurney.com/blog/research-research-research/ and dont forget to do your research!! [...]
Hey Bill,
You’ve really hit the nail on the head when it comes to researching your chosen niche.
Reading the post reminded me of all the time that I’ve wasted in the past producing stuff that has no real demand for it.
But I saw this as a learning curve.
A few things this taught me.
1. The value of your product does not relate to the time that you’ve spent producing it. (…I don’t create ebooks anymore, they take too long!…)
2. Like you, do your research (…I use market samurai for this, you can get it free for thiry days. It’s VERY powerful…)
3. Fail forward fast. This probably goes with the first one. Even the greatest minds in the world don’t hit home runs everytime, but when they don’t, their “back at bat” quickly.
Thanks for the great post Bill.
Reach new heights
Nathan
Nathan Rufus recently posted..First The 60 Day Callenge And Now This…
[Reply]
Bill Murney
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August 20th, 2010 at 12:55 pm
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Hey Bill,
Taking the “glass half full” view, I congratulate you on following your passion! If a topic was interesting enough to write an e-book about without doing any research, then it was a topic you needed to delve into. Whether it quickly lead to financial profit or not.
I’m on the other end of this spectrum: I tend to dive into researching a topic and spend too much time on it. Over the years my habits have been so analytical that my logic has outweighed my intuition. I’m finding a balance now where my heart leads and my head follows. So in the case of niche researching, I’ll start by allowing myself to feel really excited about the topic and envision fun possible courses of action. Then I begin my official research and see if I am still excited once I’ve got data. It’s that combination of following my true interests *and then* using my logical skills that have brought me the best results.
Thanks for sharing your experiences with us. Good luck on your next e-product!
Peace,
Lauren
Lauren Lionheart recently posted..Can Blogging About Cupcakes Earn a Full Time Income
[Reply]
Bill Murney
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August 20th, 2010 at 1:03 pm
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Hi Bill,
Your post is very timely for me as I am just at the niche selection stage of the masterclass. So I am now more aware than ever that I must put the research in.
With regard to choosing a profitable niche, JT does say that he thinks going where people are spending is the key, irrespective of how much competition there is. What are your feelings about this Bill?
I’m sorry that you feel you wasted time by not researching thoroughly, but I am sure you will benefit from your experience in the long run. Thanks for sharing this Bill and I enjoyed my visit to your blog, I will be back soon.
Regards,
Brian
Brian Alcock recently posted..So You Failed…So What!!
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Bill Murney
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August 20th, 2010 at 1:17 pm
[Reply]
Bill
Great post teaching others from your mistakes or fears. Its so important to research your niche or target market to ensure that you arent wasting your time. Whilst its sometimes difficult to overrule your passion sometimes there simply isn’t enough in it financially to justify the time spent – unless of course its to deliver value and for fulfilment.
I use MS too and find its a superb tool, a good recommend on the trial!! All the best
Tom
Tom Harvey recently posted..Video Marketing – Anatomy Of A Successful Affiliate Campaign
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Bill Murney
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August 20th, 2010 at 1:26 pm
[Reply]
In my experience running an IM business is just like running a “real world” business.
You need to know your audience, if they want your product and how big the audience is and so on, you need to know the competition, you need a brand identity and a business plan and a lot else.
Most people start with IM because they think it is a short cut to success, it is and it isn’t.
It is easy to set up and get going, doesn’t cost much or involve a lot of risk but if you don’t treat it right you will never succeed.
Research is a must!
Daniel M. Wood @ Sales Techniques, Motivation and Success recently posted..Back To Work! Back To Work! Back To Work!
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Bill Murney
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August 20th, 2010 at 2:04 pm
[Reply]
Hi Bill!
Greetings from another Challenger!
I noticed in a comment above you mentioned Market Samurai as part of The Challenge – my partner and I are working through The Challenge together as well and absolutely LOVING it. So great to learn some of these skills and tools needed to find a profitable niche online. 
Research is so so so important and I think that it IS a big part of why people don’t make it. Another part being that they give up before getting the desired results…
Great article!
Jess Webb recently posted..Sustainability for Digital Entrepreneurs
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Bill Murney
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August 21st, 2010 at 12:35 pm
[Reply]
Hi Bill,
I’m rather new at internet marketing and blogging and am learning a lot about it doing this challenge.
I’ve never tried to write my own ebook (yet) as I’m not good at keyword research yet. When the time comes, I’ll remember this blog and “research, research, research.”
Thanks again.
Kat
Kat@eBayLearning recently posted..10 Tips to Buying Cars on eBay Motors
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Bill Murney
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August 22nd, 2010 at 8:44 pm
[Reply]
Research is important, but it is not everything. I have seen bloggers go straight into it without knowing how, and building a huge brand from it. All simply because they knew their niche and it was a hobby of theirs that they wrote about. Even the smallest niches can be successful because they may carry a few million potential followers.
Brandon Connell recently posted..Being a blogger holds legal risks
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Bill Murney
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August 23rd, 2010 at 1:34 pm
[Reply]
Hi Bill,
I would add that you should be looking to see the quality of the sites advertising on Google ADwords, Yahoo and MSN
You need to be in a competitive niche and a clear sign is a full page of ads across the different PPC platforms.
I’m interested in your comment:
“I probably spent around 3 months writing the ebook”
How long did you spend on your sales letter?
I do hope you wrote your sales letter before you wrote your ebook as always saves a ton of time.
All the best.
Kind Regards
Andy
Andy Brown recently posted..The 4 Essentials Every Affiliate Program Should Have
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Bill Murney
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August 23rd, 2010 at 1:42 pm
[Reply]
[...] 17, Bill Murney: http://billmurney.com/blog/research-research-research/ [...]
Hi Bill,
Keyword research is something we all at some point dread. I myself haven’t gotten into the workload behind product creation and driving traffic to a sales page yet but I know it’s not easy. It’s a lot of work involved and it’s also not motivating when your efforts become stale. However, the best advice has always been to keep at it and try again. Here then, patience becomes a virtue.
Thu
Thu Nguyen recently posted..EXCLUSIVE Interview with Lynette Chandler of BlogEnergizer
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Bill Murney
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August 23rd, 2010 at 1:49 pm
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Hi Bill
Great post & love the site.
I’ve already written my first ebook & mainly included info I already knew but I also reasearched into the niche market. How do I find out more about Market Samurai? Are there any links you could point me to?
Stay healthy
Alex.
Alex Fyfe recently posted..Exercise And Harm
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Bill Murney
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August 23rd, 2010 at 1:59 pm
[Reply]
Hi Bill,
You definately hit the nail on the head on one reason people quit Internet Marketing. I have purchased many courses and tools on picking the right niche, finding the right keywords, etc…
Research is so necessary to get it all right and having a reasonable chance at making money. I still have a lot to learn about the whole Internet Marketing arena, but I am finally getting ClickBank to send me some money and it can only get better!
All the best to you!
Mark
[Reply]
Bill Murney
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August 24th, 2010 at 12:27 pm
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Hi Bill, You are hard on yourself. The niche you choose will be the product you are the most passionate about. Your heart and soul will shape the words and The Law of Attraction will bring the Universe to you. The only thing you do not know is when.
Pierrette & I are putting together our first book. We are in our third year of writing it. We thought we knew exactly how to do it and three years into it realize that we needed to do much more research than we thought. We could not even try to imagine how poor it would of been two or even one year ago.
Keep writing, researching and listen to your heart. It will guide you. Patience.
We are part of the 100 comment challenge at http://theequest.com/?p=3018.
Thanks for being you,
Pierre
[Reply]
Bill Murney
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August 24th, 2010 at 12:34 pm
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Bill:
Wonderful post and story about your research, or lack of research, problems.
I too have wasted precious time by not researching some of the niches I got involved with.
I still do not do enough keyword research when getting into a niche. I do some quick research but I do not spend more that 30 minutes on a niche.
I have not used Market Samari yet but I do hear a lot of things about it. One of these days I’ll get around to purchasing it.
Good luck on your future endeavors!
- Rick
Rick Byrd recently posted..Should We Remove the Dates From Our Blogs Posts
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Bill Murney
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August 24th, 2010 at 12:40 pm
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Hi Bill, a very good read! You’re advice reminds of something I read last week about “the poor man’s road” of digging for gold in a mountain that has none. So many of us have done the same on more than one occasion I’d wager. I totally agree with your title’s emphatic command to “research” and to research first, and then build it out knowing there’s a hungry market. Take care, Steve D.
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Bill Murney
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August 24th, 2010 at 12:48 pm
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Hi Bill,
Just thought I would pop past and check how you are going with the challenge.
I am taking a table as I go around to check on how everyone going in the commentating stakes.
I didn’t realise what a work load this has been for some people and I get the feeling it may not be completed in time for most people.
I do hope everyone honours their commentating conditions as part of joining the challenge.
This has definitely been a very interesting time! My hubby and bubba think my fingers are glued to the keyboard!
See you back here soon!
Cheers
Jacinta
Jacinta Dean recently posted..The 100 Blog Comment Challenge Update!
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Bill Murney
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August 24th, 2010 at 12:59 pm
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Hi Bill,
I understand about the need to throughly research your niche before spending months developing a product, however, if it’s your first time through the course (like mine) I approached it with a different understanding.
I knew that my chosen niche (Marketing Art Online) would probably not be a big seller, but it was something that I was passionate about, had some experience with and loved to write about. So given that everything I was learning in John Thornhill’s Marketing Masterclass was brand new to me, I figured that if I could make that one piece of the puzzle a little easier then that might help me accomplish the endless tasks of producing, promoting and selling something online. I simply chose to view it as a ‘Student Project’ knowing that once I had completed the process I would be able to do it again with a hopefully more marketable product.
I may not make any money from it – but I will still come out a winner with the knowledge I gained.
To your success –
Joelle
Joelle Hughes recently posted..Childhood Dreams
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Bill Murney
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August 25th, 2010 at 1:37 pm
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Hi Bill,
Thank you for the post. I’m new to internet marketing so, I don’t feel I’m ready for my own products just yet. However, I do agree with you. Research is instrumental. Once I am at that point, I will definitely do my due diligence. I definitely do not want to waste anytime. Thanks again for the information.
Much Success,
Lorina Noble
Miss Mindset Makeover
Millionaire Mindset
Lorina Noble recently posted..Mobile Marketing is Huge! 18 year old Changes the Game!
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Bill Murney
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August 25th, 2010 at 1:43 pm
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Hi Bill,
This information is perfect for me (thank you), I’m sure it will save me many wasted hours.
I’m fairly new to all this and hadn’t quite realised the importance of research or how to really go about it so thanks for enlightening me.
It’s good to know there are products such as Marketing Samuri out there to help take the pain out of the process.
Thanks again – enjoy the challenge
Michelle
[Reply]
Bill Murney
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August 26th, 2010 at 7:16 am
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Hi Bill
This is another great blog, full of really useful and helpful information.
I think that we all know that we should carry out thorough research before we begin making our products, but how many of us actually take the time to do it.
Hopefully, we all will now!
Best, Theresa.
[Reply]
Bill Murney
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August 26th, 2010 at 7:11 am
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Hi Bill
I loved your post and the list you gave for identifying possible good niches. It’s very useful, I copied it to my own notes.
Knowing your market before you create a product is paramount. If there is no market, no matter how good your products is, it won’t sell.
I think we all feel the temptation to sell what we think people will buy. Big mistake. We must sell what people want to buy. That’s the first step for success.
Cheers
Jorge
Jorge recently posted..Starting Own Business Online – Identify the Resources
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Bill Murney
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August 26th, 2010 at 7:19 am
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Hi Bill
Sorry to hear that your first product didn’t go down so well but its time not wasted as you can use it as a learning curve and I’m sure your next one will be even better.
Success always starts with planning and if you do the proper research before you start creating a product you will be well on your way to online success.
Great post and it was nice to meet you
Dawn Kay
Dawn Kay recently posted..Free Internet Marketing Blueprints and Checklist Guides
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Bill Murney
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August 26th, 2010 at 6:15 pm
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Hi Bill:
Thanks for your comment on my blog post. I did add my comment to 100 comment challenge post but this is just to thank you to be kind and responsible. I appreciate it. However, research is the key to sucess so research befroe taking any action.
To our( all of us in 100 comment) success
Fran Aslam
Fan Aslam recently posted..The Future Of eBook And Digital Information Technology
[Reply]
Hi Bill, I myself tend to do an awful lot of research without the use of tools etc but it is very time comsuming and I also think it adds to the overload syndrome, but saying that, I have learnt so much and made several notes etc in which I could probably produce an ebook laying out the schematics of the best ways and means of getting your niche sorted.
A great thought provoking topic Bill, keep it up
Keith
Keith Alston recently posted..Holiday Time Again!
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Bill Murney
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August 28th, 2010 at 10:48 am
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Hi Bill
It can’t be stressed enough to research and then research again. It doesn’t matter if the ebook you have written is the best on that particular subject, if no-one is searching for this term then it’s dead in the water. Another good piece of software is called ‘Cherry Picker’ it’s free, and it did have some bugs in it when it was first going round but they are now sorted out. Google ‘Cherry Picker Software’ it’s another great tool for research. You can never have too many.
Take Care and good luck in the challenge.
Barbara
Barbara Harvey recently posted..How Do You Juggle Your Working At Home Business Life From Your Personal Life
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Bill Murney
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August 27th, 2010 at 5:24 pm
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Hi Bill
I have eventually got here, for the past month since the challenge started I have been working flat out in my day job, hardly had time to sneeze. Anyway, i`m here now..
Your post has got me thinking Research Research I have got to get in some serious research! I have to delve into my niche selections a bit deeper before discount any of them. You have certainly got me thinking. Many Thanks for that
Good luck on the challenge
Regards MIKE
[Reply]
Bill Murney
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August 28th, 2010 at 9:36 am
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Hello Bill,
Great post and your guidelines for research will help many people. You have the right tool too in Market Samurai as I use it (paid version) all the time, haven’t found anything as easy or with so many different aspects to it, keyword research, affiliate product research for keywords, aged domains search, ranking tracker, a superb tool.
Although the products you created have not been successful for you, as others have said it still helps get the habit of product creation and the content can be re-used in article marketing for instance or as you said as bonus gifts with another product.
Good luck.
cheers
Dave
Dave Smith@Internet Marketing Secrets recently posted..Your Own Online Business-Build A Niche Blogging Business-Picking A Niche Market
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Bill Murney
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August 28th, 2010 at 10:43 am
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this is very interesting and helpful information. Thank you for sharing
Amy Steelman-Prueter recently posted..Are you up for the Challenge
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Bill Murney
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August 28th, 2010 at 9:41 am
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Bill-
Is that like measure twice and cut once? You have quite the list of criteria. I like it. I think that if you find one in there, you hit the nail on the head and drive it home. I would love to hear some results from you in a few months on some longer term data about how it is working for you. Once you nail your system….well, there is a product for you to market!
Jerry
Jerry @ TheOnlineSuccessProgramBlog.com recently posted..How do they find you Ways to get noticed…
[Reply]
Bill Murney
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August 28th, 2010 at 9:47 am
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Hi Bill – I too have created products that I filled with blood sweat tears and love only to find that they don’t fly off the shelf like hotcakes. It’s disheartening and I think that is a reason why many people quit – or switch to affiliate marketing lol
I’m slightly confused by your criteria though – I think that is how you measure SEO competition and the likelihood you can grab a page one spot in Google. But SEO doesn’t equate to product need. It does show competition, but you just need to make a product that beats the competition.
Clare
Clare recently posted..How to plan the perfect Walt Disney World vacation
[Reply]
Bill Murney
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August 28th, 2010 at 10:15 am
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Hi Bill,
This is possibly one of the best guides on niche research I have seen.
Often people are so guarded and not wanting to reveal their strategies on niche choice, so thanks for sharing yours.
I will use them when I decide to move onto niche marketing just have to master internet marketing first ha ha.
Sally
Sally recently posted..Writing Testimonials Benefit You Too
[Reply]
Bill Murney
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August 28th, 2010 at 7:22 pm
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Hi Bill,
Thanks so much for sharing your story! Not every product is successful, but like you said, it could be those that the writers are passionate about – and there is nothing wrong with that! The benefit is that it shows you that you can create a product. You have a great idea of including your product as a bonus. I find that the “hot” and in demand topics don’t always match my interest ( I can’t see myself writing about acai berries), but I feel there is always some middle ground between passion and profit!
I appreciate your sharing this post with us.
Gwen
via the 100 Comment Challenge! (good luck!)
[Reply]
Bill Murney
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August 30th, 2010 at 9:02 am
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Hi Bill
I agree totally with you, I have only been involved with IM for a short time, and was lucky enough to meet Andy Brown, he wrote a guest post for me “learn to write your sales letter before creating your product”, up until this point I was kinda floundering around. Finding out what prople want and giving it to them is key, not necessarily giving them what we want.
Very interesting stuff thanks for the sound advice
All the best
Vince
[Reply]
Bill Murney
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August 30th, 2010 at 5:17 pm
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Hi Bill
I’m with you on this one.
I’ve just bought Ms and I’m looking forward to using it myself.
Great advice
I’m off blog hopping
Best wishes
Mike
Mike Calmot recently posted..Blog Comments Challenge- Using the “Power of Six”…to drive traffic!
[Reply]
Bill Murney
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August 30th, 2010 at 8:41 pm
[Reply]
Hi Bill,
Thanks for sharing your discoveries.
It’s so easy to get swept up in what we want to write about instead of finding out what people are waiting for us to write. I feel your pain having been suffering the same sort of angst myself.
And yep, the tools are fascinating. I got a copy of Affiliate Elite which gives some remarkable inside info.
Here’s hoping your next product will be a block buster
John
Author of ‘Sticky Memory’
http://johnedler.com/blog/sticky-memory-have-i-coined-a-new-term-/?/html
[Reply]
Bill Murney
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August 30th, 2010 at 8:46 pm
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Research…a powerful word that can meant he difference between success and just being another one of “those guys”. Great post, I appreciate the ideas.
Thanks,
Patrick
Patrick Lynch recently posted..The Sea and Where To Be
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Bill Murney
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August 30th, 2010 at 8:50 pm
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Hi Bill,
That post should be read by everybody who’s thinking of entering internet marketing.
But even then I think doing the research is something that most people will try to avoid.
For those passionate about their niche they can’t imagine why others would’t find it interesting.
For those who just want to make money they will go to the popular niches.
And for all of us it’s really a lot of work that we think is a wasted time. A big mistake to think that way as you point out.
Vance
Vance Sova recently posted..John Chow’s Last Dot Com Pho In Vancouver- Live Event Networking
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Bill Murney
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September 2nd, 2010 at 9:18 am
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Hi Bill,
I like the title as it says everything; we need to look into the viability of the topics we write on… but having said that, I still applaud you for going with your passion and producing two products. Just because it didn’t quite work doesn’t mean it’s a failure. The fact is you did what millions are still dreaming about doing. You’re still a winner. Stopped by on my 11th hour visit for the 100 comment challenge.
Best,
Elizabeth
ElizOF recently posted..Yoga Love- Learn to Add Balance to Your Life…
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Bill Murney
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August 31st, 2010 at 2:50 pm
[Reply]
Bill, thanks for the post! I have not bought tools such as Market Samurai or Microniche Finder. Still use the Google tools and the free keyword finder. If you don’t mind though, I’m going to try your criteria for my next “hunt.” I still write about what I like, but have also had to write products to the “customer” in the hopes of making sales in a niche area.
John
John Kilgallon@Restaurant Recipe Secrets recently posted..Top Secret Restaurant Recipes 2- More Amazing Clones of Famous Dishes from America’s Favorite Restaurant Chains
[Reply]
Bill Murney
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August 31st, 2010 at 7:20 pm
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Hi Bill,
I also feel were your coming from Bill the niche that I chose in the MC program I feel that I wasted a lot of time researching this niche although I believe it would have been a profitably one eBay but with all the research I found the same ole same ole and had difficulty coming up with that little 5% uniqueness also with my own eBay selling hitting the low point this year I just didn’t feel so confident in creating an eBook about it. While doing research on niche selection I discovered that you have to find your niche like John McNally said research, research, research until you find the one that fits.
Good luck Bill,
Enjoy the Challenge.
Mike
[Reply]
Bill Murney
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August 31st, 2010 at 7:24 pm
[Reply]
Mike Fleming
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September 1st, 2010 at 4:59 am
I think so Bill not a thing we can do about that just keep going till better times like you said.
Mike
Mike Fleming recently posted..100 Blog Comments Challenge
[Reply]
Hi, Bill
I realised one had to do the research but I didn’t know how to go about it. Thanks for the pointers.
As soon as I’ve completed this 100 Blog comment challenge I’ll look into Market Samurai
Thanks for the advice
Jennifer
Jennifer@Online Business Making Money at Home recently posted..Internet Marketing Promotions – Step by Step Guide to Contributing
[Reply]
Bill Murney
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September 1st, 2010 at 9:39 am
[Reply]
Hi Bill,
With so many people trying out internet marketing, it feels nearly impossible to figure out what to offer that no one else has thought of yet. There is something fun about it though. If it were easy, maybe it wouldn’t be as entertaining. Lucrative would be a nice word to use too – lol!
Cheryl from thatgirlisfunny recently posted..thatgirlisfunny celebrates first blogoversary – Year of the Bright Red Hat
[Reply]
Bill Murney
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September 1st, 2010 at 9:43 am
[Reply]
Hi Bill
Research is certainly an important ingredient to creating a successful business, be it online or in the ‘real world’. There’s no point in trying to sell coal to Newcastle or ice to Eskimos, first you need to find a hungry market, then give them what they crave.
And you shouldn’t see your second ebook as wasted time, you have, as you mentioned, now got a bonus product to add to your first ebook. It may not have turned out how you’d have liked but you are still putting it to good use.
Wishing you every success,
Lynn
[Reply]
Bill Murney
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September 1st, 2010 at 1:52 pm
[Reply]
Hi Bill,
I too was guilty in going into adventures without enough research and wasting some time and money. I hope these experiences at least can serve as learning experiences (I am sure writing your ebook has been a learning experience, it is much easier to write the second ebook!).
I also use market samurai, it is very helpful in researching possible niches.
Deb@Futures Trade recently posted..Improving
[Reply]
Bill Murney
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September 6th, 2010 at 2:01 pm
[Reply]
Hi Bill,
Thank you for listing all the items in your criteria to determine niche profitability. It’s a list to mull over before any next IM effort.
Regards,
Jose
[Reply]
Bill Murney
Reply:
September 7th, 2010 at 9:08 am
[Reply]
[...] 17, Bill Murney: http://billmurney.com/blog/research-research-research/ [...]
Thanks for the helpful post on researching and using micro niche keyword for optimizing in short term, I’m new to these, although not so new so I learned here.
Among your list:
1. At least 3 keywords in the micro niche.
2. At least 80 page visits per day.
3. No more than a 15% deviation of the keyword phrases.
4. A maximum of 30,000 competing web pages.
5. A Google page ranking of 2 or less.
6. A low number of backlinks.
7. No paid Yahoo advertising.
8. No keyword phrase in the title page.
9. No keyword phrase in the website url.
I couldn’t understand No. 7 and how to check page view of other site’s pages?
Thanks in Advance!
Mike@Making Money Online recently posted..Making money online for teenagers
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Bill Murney
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May 2nd, 2011 at 11:20 am
[Reply]