Online Market Penetration

After you have done your market research, the next thing you will want to do is to determine if it is a growing market.One of the ways you can discover if you are in a growing market is by using Google Trends.

When using Google Trends, enter a search term which describes your business or industry into the search box and view the trend line in the results. If the trend line is moving up then you are in a growing market. If the trend line is moving down, then you are in a declining market. This will give you a good indication if it would be worthwhile for you to launch your business.
Another way to tell if there is room for you in a particular market is to look at your online competitors. Often times if their websites have not been updated in a while, it can indicate they are doing a good business. Also, if you have to scroll down to the second or third page of the search results before you find a decent looking web page, that can indicate a large market.