Assessing Your Competition

Check Five – Assessing Your Competition

This step in your niche choosing process covers how to evaluate your niche ideas against your likely competition by using two trusted testing resources including the Google Allintitle Test and the Google Adwords Test.

When it comes to niche marketing some competition really is your trusted friend.

That’s because if another business is successfully ranking on Google and selling their products to your intended niche then it means that the niche is a buying, interested market and that customers are willing to spend money on products and services they want.

So all you have to do is build a business as least as good as the others out there and by default you will pick up at least some of the sales that are already being made. But how much competition is in the niche and is it going to be worth trying to build a business in a space already occupied by so many others?

The tests in this step are easy to complete and include some basic calculations. But before you run these two competitor tests I want you to re-visit one of the activities from the previous coaching zone – Finding A Niche.

Why? – Well the quickest and easiest way to test out your niche ideas is to do a simple search for your keyword on Google and actually visit the top 10 sites that show up in the results.

Visit each of the top sites and see what they are like, what they offer and what sort of competition you are up against. This is a quick and simple way to determine if your niche is right for you or if you are trying to take on too much.

Once you’ve had a look round the top ranked sites for your niche then you should run the two competitor tests explained in the remainder of this article.

My two competitor tests are quick and easy ways to see at a glance how many rivals you would be up against in any market.

But a word of warning and advice – You simply MUST do these tests to prove if your niche ideas are viable before you go any further.

Competitor Test One – Google All In Title Test

When you enter any niche with competition your real competitors are those switched on site owners who are using SEO (Search Engine Optimization) and traffic tools. If your niche is full of these people you’ll have to work extra hard to compete so if possible you really should enter an easier, less competitive niche when you’re starting out.

But how can you quickly and easily work out how competitive your niche is?

To see how much focused competition your niche idea has you need to undertake the ‘All in Title’ test.

Taking the ‘All in Title’ test is really quick and straight forward.

Step 1 – Go to Google using this link Google All In Title Test. Then do a search for your niche word or phrase but put it in speech marks.

For this example test I’m investigating the niche of vegan shoes so in Google I enter:

“vegan shoes”

This gave me 722,000 results.

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Step 2 – The second part of the test is to repeat the first search but this time you add the phrase “allintitle:” to your search. So using the same sample niche again my second search phrase reads:

allintitle:”vegan shoes”

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This gave 30,100 results.

Step 3 – To complete the test you now have to compare the results from the two results that you get from Google.

If your niche is still worth considering you should see a very large fall between the results of the first test search and your second test results.

This is because your first generic search in Step 1 looks through for Google for any pages that contain the word or phrase, while the second search in Step 2 only shows sites that are trying specifically to rank for that phrase.

You can see from the results Google gave us for ‘Vegan Shoes’ that the number of results has dropped from 722,000 to 30,100 a drop of 96% – a very encouraging result as we need to really see a BIG drop for this niche to be worth pursuing and this certainly IS.

When I searched to test some other sample niches using this test the different results that emerged are shown in the table below. You’ll then see our Dr Nitch analysis of the results.

 

 Basic Search  

 Allintitle Search 

 Difference

 Bass Fishing    14,500,000    9,070,000  -37%
 Vegan Shoes    722,000    30,100    -96%
 Golf Putting    1,440,000    554,000    -61%
 Aromatherapy  43,500,000    7,710,000   -82%

Niche Results Analysis

Using our niche analysis benchmarks the results for this test gave these signals about the suitability of each niche market tested:

Based on these results, Vegan Shoes, Aromatherapy and Golf Putting give the strongest results while Bass Fishing is showing up as either too general and not a niche at all or are too competitive to consider.

Run this competitor test on your own potential niches left on your list and record what the results are.

IMPORTANT!

Of course there are hundreds of keyword and adwords tools out there for sale which would give perhaps more powerful answers than the tests shared here. We know. But these tests are not only free, they are also quick to carry out and as part of a package of other tests will give you the indicators you need to choose a niche to get started testing in the real world with real customers and as we’ll keep saying that’s the ONLY way to prove absolutely prove a niche is profitable. Rant over.

Competitor Test Two – Google Adwords Test

The second Google competitor test that you should always use when looking at new markets is the Adwords Test. This test looks at how many ads are being run on Google for the potential niche to see if it is worth considering any further.

The Adwords test works as adverts will only be running because they either get results and create sales or the advertiser placing the ad just has money to burn. So how can you tell the difference between the two?

Without using any complicated paid for tools I find the easiest indicator is to look at how many different ads are running in the niche. There might be one or two folks who are happy to lose money but the more adverts you can see the more likely it is that the niche is generating profitable sales. If you see no ads being run then it’s best to leave that niche for another day.

To carry out your own Adwords test is quick and easy.

Step 1 – Go to Google using this link Google Adwords Test. Then do a search for your niche word or phrase.

For this example test I’m investigating the niche of ‘vegan shoes’ again so in Google I enter:

vegan shoes

You don’t use the niche word or phrase in speech marks for this test as it then gives you all possible results for ads that use the phrase.

Step 2 – The second part of the test is to see how many ads are running either at the top of the search results or down the right hand side as highlighted in the image on the next page.

Using our sample niche of ‘Vegan Shoes’ again showed that on the day I ran the test there were five different ads running on Google.com

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Step 3 – To complete the test you now have to compare the results of the test you get from Google for each niche you have under consideration. When I searched to test our five sample niches using this second test the number of ads that were displayed were:

 Aromatherapy 

12 ads

 Bass
Fishing   

0 ads

 Vegan
Shoes   

5 ads

 Scrapbooking

7 ads

Niche Results Analysis

Using our long run niche analysis benchmarks the results for this test gave these signals about the suitability of each niche market tested:

Aromatherapy and Scrapbooking give the best results while Bass Fishing is looking weak.

Remember that in all these tests you’re looking for niche markets that possess the best balance between the three key characteristics of:

  • High Demand
  • Low Supply
  • Profit Potential

Take a look at your some of your likely competitors based on these tests and see what they offer and how they do it. What customer problems are they offering to solve? What is their offer, their price and what can you find out from them?

The main thing to consider is to try and find out as much as you can about your competition so you stand a better chance to do better than them in the same market. And now one final thought and question about your competitors.

Are your competitors going to be enemies or friends?

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Many people in business believe those books and films that say that all business is like war and that you can only ‘win’ by destroying or crushing your competitors as if they are some horde of enemies to be ground into the dust.

But my own experience and classic marketing wisdom proves that very often those who you initially see as your competitors and rivals may actually turn out to be your best business friends and allies.

If you look for how your product complements rather than competes with the other offers out there you may find a number of features and customer benefits that mean you can promote each other’s products so that you both benefit.

In the next set of Checks we’ll move on to online research and analysis of your potential niches using a range of tools and techniques. So at this stage you really need to make sure you just have the best niche ideas left on your list after all the checks we’ve discussed so far have been carried out.

Otherwise you’ll probably spend too long assessing your remaining ideas and this may lead you into a cycle of delay, lack of progress and more delays when what I want for you is progress, results and success.


#SESSION.FIRSTNAME#, remember you can find other Articles on how to choose your niche in the members area.

Or you can access the latest edition of the Dr Nitch Niche Marketing Guide – “Choosing Your Niche – 7 Simple Checks To Your Success”. This guide shares the step by step process for selecting niche market ideas that the Dr Nitch Niche Marketing Center has identified.

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