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How to Use Amazon for Niche Market Research?

by MARKETING Optimization Optimization MARKETING
How to Use Amazon for Niche Market Research- 

Looking for the next great business opportunity in your market niche? 

Do you need some ideas for content or products to create? 

Have you been trying to decide: 
What business that you want to go into in the first place?

Want More Ways To Build Your Business  Online?

Now
There's no reason you should ever be short on ideas, especially with the internet and social media-

We now can focus on a less obvious tool than a simple Google search. I'm talking about amazon.com.

Amazon has a wealth of data you can tap into. 

It's all freely available if you know how to look...

You can learn about trending topics, 
micro-niches within markets, 

problems not solved, 
needs not being met, 
cross-selling possibilities,
 
title ideas, 
keyword ideas, 
what your customers are wishing for, and all sorts of other information.

Today we focus on 7 different ways you can use, Amazon to discover new niches, learn more about your niche, and get ideas for different aspects of your business.

Once you start using all these different secrets, be sure to take notes throughout your searches. You'll be getting a million ideas and bits of market intelligence, so I suggest creating a notebook (paper or Evernote) to keep track. If you use Evernote, you could even create a notebook for each market and ‘clip' key web pages to your notebook for easy reference later.

1. Get Ideas for Markets 
A vast categorization of topics: That you can take advantage of for discovering niche opportunities.
If you have no ideas at all to start with, you can begin at the very beginning and look at overall bestsellers on Amazon,

See if there are any topics that jump out at you. You can click on it to see which major category it falls into
Hold on to that link. If you look at the top tabs, you'll see categories for the following:

Hot New Releases
Movers & Shakers
Top Rated
Most Wished For
Gift Ideas

You can filter valuable information by department for any of those categories-

You can filter valuable information by the department for any of those categories
what's trending in any one market.
all the information you can get by browsing through the bestsellers section on Amazon- 

Now browse through sub-categories within a larger category to get ideas for niches you can find the list of sub-categories over on the left side of the image above. Just click through any of those you see that you like.


2. Get Ideas for Niches
  • Start by picking one Department that relates to your market.
  •  it tells you what people want to learn about most, within the different book topics.
 if you want to find your niche. Amazon has already broken down the categories into the most common niches people look for...

The Life Changing Magic of Tidying Up. If that's the number 5 best-selling topic in all of the Books on Amazon, then one popular niche you could consider is personal organization.

People if you are selling information or coaching, - go straight to Books, you just put your keyword into the Amazon search box.

3. Who are Your Potential Competitors

Know what you're getting into if you think you want to go after a big market.

 Who are you going to be competing against? 

What are they selling? 

Or, in the case of information, what are they teaching? 

Just reading the titles of chapters will give you a few ideas of what the author is talking about and emphasizing, as well as what topics are probably popular in that niche. If it's a bestseller, you can be sure there's a big market that's interested in those topics.

To your success, keep with doing, what is working for you and your business... Remember, you need to be yourself!
first one? It's all about starting a business,
 great topics for sub-niches as well as content.


4. Brainstorm Product/Service/Content /Title Ideas

This is my all-time favorite way to use Amazon. The more you browse through a category, the more ideas you'll get. By the time you're done, you could easily have a big list of products you want to create, courses you want to teach, blog posts and emails to write, and titles of new books to write. Keep that list safe!

Here are just a few places to look for ideas:

  • Sub-categories
  • Top Sellers
  • Products with a high number of reviews (indicates interest and passion for a topic)
  • What's Hot (eg topics in time management; trends)
  • Table of Contents in top-selling books

For example, take a look at all the sub-categories in Management & Leadership

 Look Inside and find the Table of Contents. Now you have ideas for things to write about in that niche.

If you already have a customer base or email list, or you know people who are in your target market, you have another tool you can use for ideas:

The Wish List

you can look at what's Most Wished For to see what the general population wants in that category. Find it over on the right side where it says ‘More to Explore

5. Find Niche Keywords and Phrases

You can be relatively safe in assuming that the keywords and phrases on amazon are the ones that people are using in their searches.

That means that you can borrow those keywords and use them in your own content, such as blog posts, categories and sub-categories on your site, and in product descriptions. Actually, use them anywhere people might search for your content – your website, products, videos, slideshows, social media posts, etc.

  • Look at the names of the categories on Amazon
  • Names of subcategories
  • Key phrases in the descriptions of top-ranking results
Those are category keywords, to get longer keyword phrases. Just don't assume that the words used for all products are good keywords. You should still use a keyword tool to generate more ideas and see what the competition is.

6. Estimate Niche Profitability

  • Look at the number of products in your category. Are there thousands, or just a handful?
  • How many sub-categories are there in your main category niche? If there aren't any, or if there are only one or two, then you may have hit the bottom of the bucket. Your niche just may be too narrow and limited for longterm growth. 
to determine if your niche idea is going to be profitable in the long term.

  • Keep researching.
  • What is amazon's recommended upsells/cross-sells/combos (frequently bought together, customers also bought)? If there are a lot of options there, chances are that people buy multiple products in your category. That means people are spending money and there is growth potential for you.
  • Are the products in your niche repeat purchases? Or are they one-off items? Anything that people buy over and over can mean income in the long-term
  • What are the different price points of products? If people are buying items for $100 and up, there's a good chance that they'll be willing to spend more-
Negotiation, which is definitely related to influence.

That tells me that people who purchase items related to the psychology of persuasion in the Marketing & Consumer Behavior category buy a LOT of books. There are over 100 in the section of what people also bought.

If you look at some of those ‘also bought' books and what categories they fall into, you'll also get ideas for topics related to your niche that you could potentially expand into,

Take notes on all the data you find here since it's a combination of all of it, plus other market research, that will help you assess profitability. Don't rely solely on amazon for your data!

7. Uncover Untapped Markets

I've saved the best for last. This is a secret trick that takes more time, but it can yield some unexpected and surprising insights into your market's needs.

The trick is to look at the reviews of top selling products in your best niches. It's here that you can find the unmet needs and opportunities. You'll also find out what's most important to your customers.

  • Look for top-selling products in your category with higher number of reviews
  • Look first at the ‘Most helpful' reviews. These are reviews that browsers found most helpful in making their decision about buying the product,
  • Read poor review ratings. What are people saying? What are they unhappy with? For example, is there a key feature missing? Was customer service horrible? Was the quality? Is there another competitor they mentioned as being better?
  • Now read top ratings. What do people love about that product? Those are things you'll need to make sure you can provide. What did they say is missing? Those are opportunities and often can be found in 4-star reviews.
  • Look for trends in the reviews you read. Just because there's one person who was disappointed that the widget didn't come in yellow doesn't mean you should become the next great yellow widget provider.
the book on Getting to Yes: Negotiating Agreement Without Giving In;


your research, before you commit to a niche:

You must be able to compete and offer unique value!

Can you provide a better system that addresses people's complaints? Can you provide a product with the features that people say are missing?

All the research you do in a place like Amazon is a first step. You'll have pages of ideas by the time you're done, but you'll need to sift through those and winnow them down to the best 

Now it's your turn to start having some fun shopping for ideas and market intelligence on Amazon.

(if you're interested in learning more)

Don't rely solely on Amazon for your data!

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About MARKETING Optimization Committed     Optimization MARKETING

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Created on Dec 29th 2017 23:49. Viewed 529 times.

Comments

MARKETING Optimization Committed   Optimization MARKETING
Enjoy! Amazon for Niche Market Research- Tools

(if you're interested in learning more)

Keep on ReadingP: netboard.me
Dec 30th 2017 00:21   
Wealth Creation Invester Wealth Opportunities Senior   Information Marketing Business Start Now!
All the research you do in a place like Amazon is a first step. You'll have pages of ideas by the time you're done, but you'll need to sift through those and winnow them down to the best -What are people saying?

offer unique value!
your research, before you commit to a niche,

Look first at the ‘Most helpful' reviews. These are reviews that browsers found most helpful in making their decision about buying the product,

Untapped Markets-
Look for top-selling products in your category with higher number of reviews,

Enjoy Building Your Business!
May 6th 2020 12:32   
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