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With all the Internet market research methodologies out there, there truly is only one niche market strategy, you need to figure out what sells on the Internet. The way I approach my market research process sometimes differs. From time to time I would start of with keyword ideas in my head and head off to Google’s external keyword tool. Depending on the feedback I get from Google’s absolute and definite data (not always so ;)), I will decide to determine whether the keywords could actually translate in money.  The perceivable problem with this is that sometimes the most brilliant keywords do not translate into money.

The proper way of approaching niche marketing is to determine first of all whether there is a financially viable market out there. If people are buying, the keywords related to that product will bring in money. So, whether you are pumping in random keywords into some tool first, or rather mould your market research techniques around the fact that there is already a potential market, at some point the work you put in needs to ultimately translate into money.

The amount of work you put in, is always the same

Whether your market is buying or not, will not have an effect on the amount of work you need to do. Therefore, you need to make absolutely sure that there is in fact a buying market out there. For example, you might find thousands of searches a day for psp game downloads, but what is your demographic’s financial position? Well, in this case, your demographic is probably primarily teenagers. This not to say that there is not a market, you just need to keep in mind who is carrying the credit cards. Your expectations need to be relative to how much money the market you are targeting as or, is prepared to rack out for your product.

In an effort to hopefully assist you in the marketing research process, I have compiled a list of sites where you can start looking for niche markets.

Trendwatching.com

Trendwatching.com is one of my favourite sites. They have more than 8000 independent trend spotters in more than100 countries. Apart from updating their blog site with new trends almost by the minute, they provide a very useful annual trend report. The 2009 trend report can now be pre-ordered at a price of $699.

Ebay Pulse

If it’s popular on Ebay, chances are you have a market. Ebay Pulse gives you a daily snapshot of trends, hot picks and cool stuff on Ebay. Great site!

Shopping.com

Shopping.com is another great site for determining what people are after right now at this specific moment.

Dummies.com

Dummies.com has done the necessary research for you. If there is a Dummy book, there could be a market.

Amazon.com Bestsellers

Amazon.com Bestsellers show you exactly what people are interested in and what they are willing to buy right now.

Squidoo Top Lenses

Squidoo Top Lenses is a great place to look for what sells. Squidoo is primarily used by Internet Marketers to promote products which sells. Again, the work has already been done for you.

Clickbank

Clickbank.com is the king of digital affiliate products. From information products to membership sites which provide unlimited downloads, Clickbank provides vast information on what the market wants. Again, if a product is to be found on Clickbank and it is popular, your work has been done for you. An Internet Marketer did the necessary research, and if there is a strong gravity towards the product, there is a good statistical chance that the product sells.

Magazines

Out of all of the above, the good old magazine is probably the best or at least as good a niche research tool. Magazines pay a substantial amount of money to do research into what sells. If it there is an article in a magazine, then you need to take note, as there is probably an online market for it as well.

As with all online resources these days, there are many to choose from. Hopefully I have given you a kick start with what you have. Your niche market strategy should at least involve having a look at these sites from time to time.