World’s Busiest Person? How To Conduct Market Research In Just 5 Minutes
Brett from Niche Laboratory.com here.
In this post I’ll quickly run through how the Niche Laboratory can help you compile valuable market research in next to no time at all.
What’s more, it can even be used to research topics that you know absolutely nothing about.
In this walk through I’m going to show what I did when I researched the topic bitcoins.
This is a topic I know absolutely nothing about!
Anyway, to research a topic all you have to do is type your keyword or keywords into the box and click on the Generate Report button:
Once you’ve done that, wait 30 seconds to a minute and your report will be generated.
So what does the report tell you?
The first section is a Niche Insights section, and it gives an executive overview of the topic. It doesn’t appear for all topics, but when it does it’s really useful. In this example it says:
Bitcoin is both a cryptocurrency and an electronic payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. Bitcoin was introduced on 31 October 2008 to a cryptography mailing list, and released as open-source software in 2009. The identity of Nakamoto remains unknown, though many have claimed to know it.
It also lists related topics. In this particular instance it mentions alternative currencies and cryptocurrencies. I’d definitely need to research those!
Wow, I’m feeling like a bitcoin guru already.
Next up are a list of keywords and phrases associated with the topic. Some things that stood out for me were: mining, buy bitcoin, sell bitcoin, bitcoin wallet, blockchain.
Apparently you can mine for bitcoins. I’d have to investigate that!
I also saw a lot of security related words. Hmm, there are definitely bizopps in the bitcoin security space.
Lastly there were some questions like what is blockchain and what is a bitcoin. If I built a business in this area I’d definitely want to educate users on the terminology. Maybe there’s a need for bitcoin training and consultancy services?
Scrolling on the report showed the relative importance of words in the niche – mining and exchange were two words that jumped out at me from the word cloud.
If you’re interested in online marketing and SEO (the tool is primarily designed for this) then you’ll definitely want to take a look at how the tool has assessed the competition in this niche:
Next up is a report showing images associated with the topic. Well make no mistake here – bitcoins are MONEY:
The reports following this show Amazon and AliExpress products in this niche. Despite all the online stuff going on these days, people still love to buy physical products!
Next up is a list of discussion forums related to the topic. If you’re new to online marketing then my No. 1 tip is to engage with the owners of discussion forums because they can be very cheap places to advertise on AND they attract committed buyers.
After this is a list of Google News articles – for me this section was a treasure trove of hot and trending topics I could blog about if I had a bitcoin site.
Lastly came some suggested blog article titles for the topic. It gave me 12 suggestions, of which these 3 were definite winners:
- How To Win Friends And Influence People With Bitcoins
- Why Bitcoins Suck
- Prepare To Laugh: Bitcoins Not Harmless As You Might Think. Take A Look At These Great Examples
Eat your heart out BuzzFeed!
Do these types of headlines work? Absolutely they do. I doubled traffic to one of my sites by writing click-bait titles such as these.
Anyway, I hope this has shown that market research need not take you weeks and weeks – just go to NicheLaboratory.com and start exploring your business topics.
Comments? Questions? Suggestions? Post your thoughts below.
