How To Find Products & Assess Market Viability
In this video we’re going to look at a great way to quickly and easily assess how commercially viable different niches are.
Internet Marketing Myth
One of the biggest myths in Internet marketing is that you should try and find an untapped niche that no one has discovered before.
The truth is that if no one is selling products in a niche it’s probably because the members of that niche aren’t really interested in buying products.
Instead of wasting your time trying to find an untapped niche, you’ll be much better off, selecting a niche in which people are already buying products online.
Now I know that this might appear a little counter-intuitive, but when it comes to developing an online business, some competition is actually a good thing because it shows that the members of your niche are actively buying things online.
So, one of the best ways to assess the commercial viability of a niche is to find out whether there are any products being sold in your niche that offer affiliate programs.
If there are plenty of affiliate products on offer, you can be confident that the members of your niche are open to buying products online.
Or No Affiliate Products
If on the other hand, you can’t find any affiliate products that are relevant to your niche, then this may mean that the niche you’ve selected is not really commercially viable.
In the past, trying to find affiliate products that are relevant to a niche used to be painful and time consuming process, but with Market Samurai’s new Monetization module, you can quickly assess whether there are any affiliate products available in the niches you’re exploring.
So let’s take a look at how it works.
Market Samurai Monetization Module
One of my interests is playing saxophone so I might want to explore the ‘how to play saxophone’ niche. Lets take a look to see if we can find any affiliate products that might be relevant to this niche.
To access the Monetization module, all I have to do is go down to the monetization tab here on the left.
At the top of the module, there is an option to Find Products so I’ll click that now.
By default, Market Samurai carries down your seed keyword from the tab into the keyword box.
Depending on your niche you may need to step this up a level for example instead of ‘how to play saxophone’, I might need to change this keyword to just ‘saxophone’, but for now I’m going to leave it as ‘how to play saxophone’ and see if I can find any products.
The next drop down box is the source box. Market Samurai currently allows you to search four different providers of affiliate products. These are Amazon.com, Commission Junction, Clickbank and Paydotcom.
You can think of each of these providers as large libraries of affiliate products relating to a very wide range of markets.
What the monetization module in Market Samurai allows you to do is to automatically drill down into each of these product libraries to find products that are specifically related to the niche keyword that you’re targeting.
Let’s begin by exploring amazon.com...
Initially I’m going to assume that I haven’t set up my Amazon affiliate account yet and just choose the ‘Search Amazon without account’ option.
I can select a location and a department if I want, but for now, I’ll just accept the defaults and click the Find Products button.
Market Samurai now goes out to Amazon.com and looks for products that are related to my keyword ‘how to play saxophone’.
And here are the results - Market Samurai has found 7 products that are related to my keyword and by looking at the Department column, I can see that they are a mixture of DVDs, music and books.
Sort by Price
Another very useful feature is that I can sort these columns by clicking on the title of the column. So if I want to sort by price I just click on the price column...
Sort by Sales Rank
... or if I want to sort the products by sales rank I can click this column.
For Amazon.com, the lower the sales rank the better, so by sorting the products from lowest to highest sales rank, I can quickly find the best selling products that are related to my niche.
So for example this DVD called ‘Mel Bay Anyone Can Play Saxophone’ appears to be the best selling product related to my niche available from Amazon.com.
To add this product to my ‘short list’, all I have to do is select the checkbox (1) and the product details are copied up to my selected products short list (2).
Now that I’ve found that there are products available from Amazon.com, I can check my next source of products which is Commission Junction.
Once again, I’ll choose search without account (1) and then click the find products button (2)
Commission Junction Results
This time, Market Samurai has found 10 products that I could potentially promote as an affiliate.
Commission Junction Sales Rank
The sales ranking information provided by Commission Junction is the average earnings per 100 clicks over a 7 day period and over a 3 month period. I’m interested in products that are solid long term earners, so I'm going to sort the products by descending Earnings per 100 clicks over a 3 month period.
Add Products to Short List
So based on this data, I may decide that I’d like to add this VHS cassette to my selected product shortlist. To do so, I just click this check box.
Next, lets check our third source of affiliate products, Clickbank. Once again, I’ll click the search without account option (1) and click the find products button (2).
As I look at this list, I don’t really see anything that is relevant to ‘how to play saxophone’ so nothing here would make it to my short list.
My last library of potential affiliate products is Paydotcom so lets take a look and see what we can find.
OK, and this time the answer is that Paydotcom does not currently have any products that are relevant to my keyword ‘how to play saxophone’.
The most important thing I’ve discovered so far by using the Monetization module is that there are indeed products I can promote as an affiliate that relate to the ‘how to play saxophone’ micro niche.
In the next video you’ll find out how the new Monetization module can help you to create high converting affiliate ads with just a few clicks of your mouse.
More Monetization Lessons
- Introduction to Monetization
- How To Register With Affiliate Directories
- How To Find Products & Assess Market Viability
- How To Write A Compelling Ad In Minutes
- How To Publish An Ad To Your Website
- How to Sign Up for the Google Adsense Program
- How To Replace Your Affiliate Offer With Dynamic Ads
- How To Use Bit.ly To Track Your Affiliate Click Through Rate
- How To Use The Pretty Link Plugin To Track Your Affiliate Click Through Rate
- How To Create Trackable Affiliate Links Using WordPress Direct