How to Find that Killer Money Making Niche

It's the biggest mystery of making money online. How do you find that killer money making niche that is going to get prospects flocking to your site, money in hand, ready to buy? Well, believe it or not, the process itself is quite simple. I didn't say it was easy, as there is a bit of work involved, but it's simple. There's a difference. The difference is there is nothing in the process that is so mind bending that it should present a problem to anybody. This post is going to briefly cover the process of finding a good niche.

First step of the process is keyword research. Every good internet marketer will tell you that there is no way you can know what people want unless you actually look to see what they're searching for. You're looking for keywords that have a substantial number of monthly searches to warrant going after that niche. If you're tackling a market where there are only a few hundred monthly searches, there is only so much income you're going to get out of it, no matter how good or bad the competition is. As far as keyword tools go, probably your best bet is to go with the Google keyword tool even though you should remember that none of them are perfect

Next step is to go to the Google search engine and look up your potential keywords, in quotes, to see how much competition there is for that keyword. The reason you use quotes is because this will give you ONLY the sites that are optimized for that keyword. The actual number of sites doesn't matter. What matters is the KEI, or keyword efficiency index. This is calculated by taking the number of monthly searches, dividing them by the number of sites and then multiplying by the monthly searches. If the resulting figure is 100 or greater, this is a viable niche.

The last step is to actually see if there is a real demand as far as people who have money to spend. Many keywords, such as "make money online free" suggest that the person is looking for free ways to make money online and therefore, have no money to spend. You need to keep away from these keywords. Also, you want to go to forums in that niche to find out what people actually want. That is the only way you're going to discover what product to create to service that niche or if there is an existing product that will do the same.

The above only covers the very basics of niche research, as there is a lot more to the process, but it should get you started on your way to finding that killer money making niche.