The goal of every business, including online business, is to become successful. But what makes online business very challenging is that with only few bucks, anyone can start their own business online. Thus, almost every market you can think of seemed to be oversaturated.
Aside from this, there are now a lot of huge companies online who have the money to buy online advertising. This is another downside to getting your business out there.
How can one become successful or even get noticed if the competitors have all the money they need to stay on top of the competition?
Firstly, you don’t want to let yourself down by just thinking that there are lots of competitors out there. That is already a given fact and you just have to face it. And what I meant by “facing it” is you should be able to “analyze” your situation and think strategically on how you can compete with other affiliate marketers.
You should check out Cecille's post on weight loss affiliate programs because this is quite a good reference on how to compete with other affiliate marketers in a popular niche.
How do you define an oversaturated market?
Personally, I think the word “oversaturated market” does not really exist online. How can you possibly tell the market is oversaturated when every market (one can think of) also has a lot of competition in it?
In my point-of-view, a market being “oversaturated” is not really about having too many of a competition but more of huge income of opportunity for me. Why? Having a lot of competition in a given market is not really bad news since this only shows that there is money in that given niche.
If you think closely, the health niche is one of the many niches that are considered to be oversaturated. But still every day there are a lot of new affiliate websites in this niche and many affiliate marketers considered the health niche as one of their most successful sites so far.
Clearly, this showed that oversaturated market is not really a problem. However you may ask: “But why am I not getting any success at my chosen niche if competition is not really a problem?”
The rate of success can be triggered by a lot of factors. Do not blame your failure on an oversaturated market. Thus, it is important that you strategically build your own business model right from the start.
Knowing your market/niche
Do not get me wrong, competition still is an important factor to consider when you choose your niche. But you use this data in order to know your competitors and make a good plan on how to become a better competitor.
Lack of knowledge about a niche is usually the main problem why a lot of affiliate marketers fail. It is not just a matter of knowing which niche can provide you with good income, but it is also more of picking which niche you are good at or at least have enough knowledge about it.
Clickbank is popular because aside from being one of the largest affiliate networking site for digital products, this site offers affiliate marketers analysis of a product’s competitiveness and information on how much you can earn from this product. This is one way you can find a good market and niche.
Another way you can research for a good niche is to use Affilorama’s Premium tool called Market Strength Analysis. This is a good tool that provides straightforward analysis of a particular niche. Just type in the keyword you are interested in as well as the product details you got from Clickbank or any other affiliate networking sites:
The Market Strength Analysis will display the following information:
- Keyword- keyword searched and also suggested, related keywords
- Daily Searches- total daily searches of all major search engines
- SEO Competitiveness- amount of competition from a given keyword
- Payment Strength- strength of payout (independent of keywords)
- Market Strength- combined measurement of all the factors above
The information entered above is from the previous post I made about Satellite TV Affiliate Programs. Below is another screenshot that shows you how the Premium Market Strength Analysis displays information:
As you can see above, aside from the keyword I entered (direct movie download), the Market Strength Analysis also displays other similar keywords, which you can also use for your satellite TV niche.
The data also showed me that my keyword, direct movie download (which I chose for my niche) is a good keyword to promote on my website.
The 67% under SEO competitiveness is not only based from Google daily search results but this number was also derived from other major search engines like Yahoo and MSN. So I get an idea on how competitive this keyword is based from not only one but from other major search engines as well.
What I love about this tool is it provides me with related keywords as well. This way, I get to see what other “sub” niches I can add in my satellite TV niche. If you are able to pick a niche within a niche, this can also help you get ahead of your competitors.
Once you are done with your market research, the next step you need to do is to find suitable keywords for that niche.
Good keyword selection is another way to get ahead of your competition. Although there are a lot of affiliate marketers promoting for the same keywords in a niche, still, you can get ahead of them by choosing your keywords properly.
Do not pick keywords that are generic or too general. Instead focus on selecting keywords that have the buyer’s intent like in my satellite TV niche I chose “movies to download” and “movies for download”.
Both these keywords are specific and have the buyer’s intent. These keywords are also perfect to do a “call to action” in your website since these are already action words and all you need to do is to get your visitors sign-up in your page.
You may have experienced the frustration of not able to find good keywords or the keywords you found are all hard to rank for or perhaps there are just not enough keywords for that niche.
This tool is very easy to use. Just enter the keyword in the box and it will display several keyword suggestions for you:
For movie download, the Keyword Suggestion Tool found 500 related keywords with information on daily searches in Google, Yahoo, and MSN.
You can easily pick the right keywords for your niche by looking at the number of daily searches and you can analyze the competition for that keyword in Traffic Travis or in Google Keyword Tool.
Market analysis and keyword selection are two important factors you need to make yourself visible online. These factors both aim to target the right visitors for your website.
Do not think of oversaturated market too much. If the niche you have chosen has a lot of competition, this is because there are a lot of buyers in this market as well.
Effective marketing is not solely determined by the amount of money invested. Being successful in your chosen niche means being effective in targeting the right people and you can do this by properly analyzing your market and choosing the right keywords for that market.