Learn Internet Marketing > Weekly Tips > SSWT 10/19/06
 

  
What does it mean to "Cash in on a Hot Market"?

Basically it means to tap into niche markets to supply a short-term demand and turning a large profit in the process: Having the right product in front of the right market at the right place & time. It could be something NEW - and you get in *early* on it. OR it could be something "temporary"...

Here are a couple of obvious Hot Market examples:

A Hot Market can be a short-term seasonal demand, such as holidays and events, or it can be a one-time demand such as Y2K or Tickle Me Elmo:

SEE: Tickle Me Elmo TMX

 
Either way, what defines a Hot Market is the short-term cycle and the large demand - along with a sense of urgency.

Roses at Valentines Day. Gift wrapping paper at Christmas. Fireworks in July. Graduation in May. These are just a few examples of obvious short-term Hot Markets in the United States every year.

 
Of course, everything we've learned about 'Keyword Research' is practically useless when it comes to researching potential Hot Markets. That is because the tools that we use Overture, WordTracker, etc) give us results from the previous month - or even from 60+ days ago. For example, researching something in February will give you results from Dec and Jan searches.

This is where a litte creativity and "guesswork" comes in handy ;-) TIP: Watch the major media sources for "buzz words" (such as television, radio, magazines, newspapers). You can also keep an eye on sites like http://buzz.yahoo.com .

 
Because Hot Markets are temporary, you won't generally have time to make use of SEO and fre'e search engine traffic. By the time you create a website, get it indexed, and it becomes "aged" enough to send you substantial search traffic... your Hot Market will be long gone.

If you do plan to create an online business model around Hot Markets, you will want to choose a more general topic or niche to target. You can then add seasonal or trend-related promotions to that existing website. Once it becomes indexed and "aged", new web pages can rank very well in a matter of days - so this is a great option.

 
Examples of more general niches/topics might include:

 
Another option is to use services like Ebay and Adwords to promote trend-related websites or products. With these types of tools you can reach a Hot Market within minutes, launching a full-blown marketing campaign on the search engines and popular auction websites - where people are searching for information and deals.

 
If you want to try your hand at capitalizing on a Hot Market, I would suggest choosing something that is related to your current business model or website theme. That way you can always redirect the "left over traffic" to your own products, services or pages... and also follow-up with them on more of a long-term basis. This helps you to get the most out of a Hot Market opportunity.

An example might be a "toy site" promoting the Tickle Me Elmo doll. Or a 'camping site' promoting Y2K survival gear, etc.

 
Identifying Hot Markets

The most obvious characteristics of a potential Hot Market are things that gain national attention, are highly controversial, or that you see highly publicized in the mainstream media.

As I mentioned above, you can keep an eye on sites that monitor movements and 'buzz' in the markets, such as http://buzz.yahoo.com as well as the mainstream media sources.

There's a certain amount of "gut instinct" combined with "keeping your ear to the ground" in identifying Hot Markets. There will also always be a certain amount of risk involved. But when you do find and capitalize on a Hot Market... it's well worth it ;-)

 
Best,

P.S. If you would like personal one-on-one help from Lynn with your projects and ventures, you can now join the Private Brainstorming & Networking Group. This is the area to post your questions and get personal mentoring ... as well as fre'e products ;-)

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