Have you ever had a very broad and general idea for a market you would like to get into, but just aren’t sure how to narrow it down to a niche that is profitable and narrow enough to make a full business out of it? The tool I’m introducing you to today should give you some ideas of markets you probably never even knew existed.
For instance, let’s say you’re a horse lover, and you just don’t know how to start a business, information product or otherwise, that can be profitable on the internet. Obvsiously the horse market is way too vague and general. You could never start a profitable business in a market that was this broad.
Enter Google Sets. Google sets will come up with some lateral phrases that Wordtracker, Wordze, Keyword Discovery, Quintura, or any of the scraper tools will come up with. With every one of those lateral (or horizontal) phrases that Google Sets will come up with is a possible market in itself.
Let’s take our example of the horse market. I just randomly put three horse related terms that came to the top of my head into Google sets: horse, thoroughbred, and equine. I pressed the "large sets" button and here is what it came up with:
horses
equine
thoroughbred
horse
equestrian
racing
sports
ponies
tack
pony
dressage
jockies
stick
riding
show
saddles
country
art
foal
appaloosa
action
flat
vet
cross
in
horseracing
jockey
gambling
dog
animal
equus
saddlery
race
equines
weatherford
complaint
veterinarian
handpainted
Here are just a few markets (most of them are wide open) it came up with. Remember, I came up with the horse market off the top of my head. You could have just as easily picked anything else. I included the amount of searches for that term and the average click price.
Horse Tack: According to Wiki, Tack is a term used to describe any of the various equipment and accessories worn by horses in the course of their use as domesticated animals. Saddles, stirrups, bridles, halters, reins, bits, harnesses, martingales, and breastplates are all forms of horse tack. Equipping a horse is often referred to as tacking up.
[horse tack]: 450 searches a day with $1.30 as the average click cost for a #1 bid.
Wordtracker found this keyword when typing in horse
Dressage: a path and destination of competitive horse training, with competitions held at all levels from amateur to the Olympics. Jeff Walker used someone who was in the dressage market in his case studies for PLF 2.
dressage: over 3,000 searches a day with $0.60 as the average click cost
Wordtracker did NOT find this keyword when typing in horse
Stick Horses: Exactly that, the horses head is on a stick. You know, like what we had when we were kids before Nintendo came out.
stick horse: over 120 searches a day with $0.60 as the average click cost
Wordtracker did NOT find this keyword when typing in horse
Appaloosa: horse breed known for its preferred leopard-spotted coat color and other distinctive physical characteristics.
appaloosa: over 350 searches a day with $0.25 as the average click cost
Wordtracker did find this keyword when typing in horse
Equus: Latin for horse or steed
equus: over 1,500 searches a day with $0.50 average click cost
Wordtracker did find this keyword when typing in horse
Maybe it is just because I’m not a horse lover, but I just uncovered two markets that I wouldn’t have found by using Wordtracker or any other keyword tool. It may not be the answer to your prayers, but it should serve as another tool to put in your toolbox for doing market research and trying to expand on that keyword list.
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Monday, 28 Apr 2008 Filed under: Adwords/PPC, Market Research, Marketing, Tools by Bryan
