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Keyword research is the main thing that will determine if you're getting into a good niche that can be dominated quickly or if it's going to take time. It's also a good way to figure out if it's worth targeting at all because the amount of time you'd have to put into the website may not be worth your time in order to make money in the long run. I say this because by the time you rank one competitive niche website you could have 10 low competitive niche sites ranked and making money. Sure your high competitive niche website would be making more money than you could count, but the success rate for these types of websites is extremely low.
Now the thing with keyword research is that you can figure out rough estimate on how much traffic a particular search will get, but you can never estimate the profits. You can be selling a $150 item and getting ranked for keywords with 10,000 searches a month and not making a single sale. On the other hand you can be ranked for dozens of keywords that are getting 1,000 searches a month and getting sales everyday. The amount of searches a keyword is getting doesn't always relate to an increase in sales, so you'll have to pick your main keywords strategically.
Over the years I've had plenty of clients sign up with me for my SEO and Online Marketing services and they give me a list of around 50 keyword, which 45 of them are extremely difficult to rank for in 1 to 3 months. What I do is I ask them for a list of keywords to target and also so I can get a good idea of what they want to target. I don't tell them that I will target exactly the keywords they're giving me because a happy client is one that sticks with you, but not ranking for their keyword list makes them mad I'll figure out what keywords are getting 1,000 to 5,000 searches per month and I will target these first because they will usually rank quicker than the 30,000+ searched keywords. Now some of you are saying "Well if they don't rank for the keywords they sent you, won't they be pissed off?" and that has definitely happened, but not usually. It usually doesn't happen because they are getting 1,000s of new visitors coming to their website each week from the low competition keywords that I've targeted and they don't care anymore because of the sale increase I have gotten them in less than 3 months lol Now I will always target those highly difficult keywords, but they are my main priority with a new client because they hardly ever rank in the "happy client" timeline of less than 90 days
Keyword research comes second nature to me and it's always a part of my game plan, but that might not be the case for a lot of newer webmasters and online marketers. But don't worry, because I'm going to help you out a little bit
A couple ways to do some free keyword research:
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Henrywrites
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