6 Easy Tips To Pick Profitable Niche Markets Right From The Start
Do you know what the most important step is in starting an online marketing business? I’ll tell ya right now, it’s knowing how to pick profitable niche markets right from the get-go. Master this step and you’re halfway there on the path to success.
Most beginners fail with affiliate marketing because they’ve made the same mistake. They’re jumping head over heels into a niche where there’s no money to be made, or it’s overly competitive and they don’t stand a chance against the bigger marketers.
They didn’t drill down deep enough when they were in the process of picking a niche. As a result their websites are not ranking for anything and they don’t have the financial means to pay for advertising.
In this blog post I’m going to share 6 points that are crucial when choosing your niche. Make sure to use these points as a checklist whenever you’d like to dip your toes into a new niche.
There’s a lot to discuss… so let’s dive straight in
Keyword research & Outcome
Make sure there are people searching for your niche related keywords. It’s beyond pointless to build a website that won’t get any visitors because there’s no one searching for particular keywords in your niche.
Look at your keyword list and make an estimation of how much content you can create for the niche. You don’t want to run out of topics to blog about after just 20 posts, so make sure that your niche is big enough to create content around.
Are there enough buyers in the niche?
This one is probably the most important tip to take note of. Steer clear from niches where people mostly look for free information but aren’t willing to buy anything. You need to be in a niche where people are prepared to whip out their credit cards.
You might want to start your research on marketplaces such as Amazon and ClickBank. Both of them offer sale statistics for the products that are listed on their platform. If you see products selling well in the niche, that’s a good sign.
If you see any kind of paid advertising you might have a winner, this usually means that the targeted audience is willing to spend money.
Take note of the products being sold. These are the products that you want to promote later, or you can model them to create your own product. Make sure they have affiliate programs that you can sign up for.
What about your competition?
Don’t be afraid of competition. When a niche attracts a lot of affiliates it simply reflects that there is money to be made in the niche. However, the competition shouldn’t be overwhelming.
If all you see is big names competing with each other, you’ll need to drill down further into the niche till you find a sweet spot you can compete in.
Check the keywords you’re targeting and have a closer look at the websites that show up. Do you think that you can compete with these websites? If your answer is positive, then by all means go for it.
Are you still on the fence whether you should go for an authority site or a micro niche website? If so, then you might want to check out this blog post.
Is it a desperate niche?
In a desperate niche you’ll mostly find people that have a problem that needs to be solved. Usually, these people are desperate enough to quickly pay to solve their problems
For example, if your website sells an e-book on how to loose belly fat after pregnancy, a lot of women who are horrified when they look in the mirror will buy it just to get their pre-baby figures back in a snap.
On the other end of the spectrum, if your website is about knitting baby napkins with pink dolphin patterns, most people will just glimpse over it. It might seem interesting to certain women, but they’re not desperate enough to quickly take out their credit card.
Ideally, you want to choose a niche that’s either desperate or the people in it have problems to solve. The fisherman who wants to catch the biggest carp in the river is having a desire that he wants to see fulfilled.
It may not seem like a problem to someone who is not interested in fishing, but it’s a problem to the guy who loves to fish. He’ll most likely buy a book about preparing the best bait for big carp fishing.
Evergreen is the way to go
There are some niches that are super-hot but are just fly-by-night trends. For example Pokémon Go. This was a big hit, but nowadays nobody talks about it anymore, and the popularity has died down.
If you built a site just for it, now you’d be stuck with a web property that hardly gets any traffic. Pick a niche that is stable and evergreen. You can check Google Trends to see if your niche qualifies.
Do you have any interest in the niche?
If you’d like your content creation to be effortless then you should have an interest in your niche. While this rule is not set in stone, being passionate about your niche will be easier for you to create content if you’re doing the writing yourself.
Most marketers who venture into niches that they don’t have much interest in outsource the content creation to others and they don’t write a single word themselves.
If you do have the money to pay for a ghostwriter than you don’t need to worry if you’re passionate about the niche or not. If you’re planning to write the content yourself, it’s best that you like the niche you’re in.
You should also consider to create a customer avatar, so you know exactly what type of visitor you’re targeting. This knowledge will help you to create more targeted content for your audience and therefore they’ll become loyal followers.
Once you’re on the same level as your audience, you’ll see a massive increase in your conversions.
Take note of the above tips as they’ll help you to pick profitable niche markets from the start. Apply them every time when you feel the need to explore new markets.
Always remember, take your time to do proper research and choose your niche wisely. Pick the wrong niche and you’re doomed to fail.