How can you know whether or not you’re targeting a market that’s hungry and passionate, literally chomping at the bit to get access to the information, products, or services you are offering? The more irrationally passionate your market is, the easier it is to sell to them.
And there are several easy ways to monitor your market’s habits, which will let you determine their level of passion.
One way to “spy” on your market and check their passion level is to head over to Amazon.com. Type your target niche into the search box and look at the top 5 books that come up in the results. Are they selling well? Are any of them in the top 50,000 books at Amazon.com?
What about reviews? What is the average number of reviews between the top 5 books in your niche. Is that average number over 5? It’s one thing to pull your credit card out and buy a book, but a truly passionate crowd will actually take the time to go back to Amazon.com and write a review after they’ve read the book. The number of reviews is an excellent way to determine how passionate your market is.
Now go to Google. Type in your target niche, such as “dog grooming,” only add the word “forum” after it. How many forums are available for your niche? Go to them, one at a time. Are the forums active? How many people are currently online on the forum? (Some forums have this information displayed, others don’t.) How many posts have been posted today?
If there are at least three or four active forums for your target market, then you’ve got a pretty passionate crowd.
Now head over to Facebook. Are there any Facebook groups or fan pages related to your market? Are those pages active, receiving lots of comments and interaction? You can also check the activity level of your niche at Twitter by typing your niche’s name into the search box. If there’s a lot of social media buzz going on about your niche, then it’s a good indication that your market is passionate.
Of course, we still have a few questions left to answer. Just because your market is big and needy and passionate doesn’t mean it’s a profitable market to target or that the competition isn’t too tough. We’ll learn more about how to find out those parts of market research in the next few posts.