In the second day of The Challenge 2010, Brent Hodgson from the Market Samurai team describes two techniques to explore possible market and niche ideas for a possible online business: Amazon.com and Google’s Search Based Tool (http://www.google.com/sktool).
Amazon:
According to Hodgson, a great way to start exploring markets and niches is by navigating to the magazine category inside Amazon.com. Why? “If there is a magazine devoted to a topic, then it’s likely that there will be people searching… for information online about that topic.” In other words, the fact that there are one or more magazines about Crafts and Hobbies means that this market has some potential traffic. In addition, Amazon’s magazine section allows us to narrow down to niches inside the larger market we are exploring.
Google’s Search Based Tool
Another great tool to explore niches and markets is Google’s Search Based Tool. This tool has an option to see “top keywords across all categories.” Thus, it allows us to explore different markets and niches that Google knows.
