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August 16, 2006How to Choose a NicheOrganizing my thoughts on niche comparison shopping sites... + + + Advantages of niche vs. general... + + + Factors for evaluating a market... Resources * Comparability - how much do people compare for the product? how much emphasis is placed on attributes and reviews? * Technology Requirements - how many features require high-tech upfront, how many features can get by with low-tech? * Comprehensive Potential - is comprehensive content possible? if so, how much effort to produce it, and to maintain it? Competition * Online Competition - not the quantity of comparison resources, but the quality, is there a void in authoritative content? * Offline Competition - is the niche covered by authoritative sources such as Consumer Reports or specialty magazines? Revenue * Market Size - online size as opposed to offline size, does not need to be huge, just big relative to the resource required. * Number of Advertisers - need enough for a competitive marketplace, active bidding on CPC, superaffiliate deals on CPA. * Revenue Per Click - volume can only do so much, need enough margin to cover operating expenses (bandwidth, min bids). Promotion * Advertising Potential - how many ad outlets, how much cost to acquire a visitor, and how much market reach is possible? * Viral Potential - are people likely to pass along your links to friends, are there opportunities to syndicated your content? + + + rough draft, more later...
How to Choose a Niche
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