So, for example, you might choose to narrow your search to the “garden and patio” department, which will show you all the seeds, tools, fungicides, insecticides and similar products.
You’re looking for two things:
1. Bestselling products.
2. The customers’ thoughts about these products.
Obviously, you’re looking for best-selling products because you want to know what your market is already spending their money on. If you choose a category to search in, then Amazon lets you sort your search results according to popularity.
Ideally what you should be doing is looking for evidence that there’s a buying market. And if you see several of the same types of products competing in a niche, that’s a good sign that there are plenty of buyers.
Let’s take a classic example – search for something like “weight loss” on Amazon, and you’ll find thousands of books, diet aids, pieces of exercise equipment and more. That would be your sign that it’s a huge market.
The savvy entrepreneurs go a little deeper though. That means finding a chunk of the market that you can carve off for yourself and dominate. Go back to the weight loss example – if you tried to tackle the general market, you’d be up against giants like Atkins, Weight Watchers, Slim Fast and so many more.
Those guys are Goliath the Giant. You’re David. And you forgot your sling shot at home. This is one fight that’s gonna end fast (and it ain’t gonna be pretty).
So, what you look for is a little chunk of that market that you can absolutely dominate. In the case of the weight loss market, you might niche down to new mothers who want to lose weight.
If you were going after golfers, you might focus on teenagers. Teenagers tend to have smaller hands than adults, so these youngsters would benefit from:
Smaller golf gloves.
Strategies that show them how to put a lot of power behind their drives.
If you wanted to serve dog owners, you might focus on those who own toy dogs (or even just one type of toy dog, like Maltese dogs). These dog owners with small dogs might want:
Small dog beds
Small dog clothes
Small agility courses
Point is, look for these hungry little niches while you’re doing your research. And then look at what types of products they’re already buying… and make it a goal to give them something similar (but better).
To that end, the second thing you want to do is read the reviews on the best-selling products in the niche. Check these two things:
What do people LIKE about a particular solution? You’ll want to make sure your product offers the same valuable and desirable benefits.
What do people DISLIKE about a particular solution? These are the factors you’ll want to improve upon so that you create a product that’s better than anything on the market.
You’ll want to spend some quality time fishing Amazon’s depths. But don’t make the mistake of researching Amazon in a vacuum. Once you’re done with Amazon, move on to the remaining six methods for finding out what your market wants…