All posts tagged Finding Your Niche

Niche

How to Find the Right Niche?

One of the biggest mistakes you can make is picking the wrong niche when it comes to building your online business.

Picking the wrong niche will be detrimental to the success of your business and you will find it nearly IMPOSSIBLE to make any money if you haven’t done your research.

If you pick a niche that isn’t hot you are setting yourself up for failure, because although people may be looking for information in that niche they may not necessarily be willing to spend money.

Most people end up choosing the wrong niche because they pick what they are interested in and do not properly research what is actually selling.

You want to not only get into a market full of people who are desperate for help, but a market full of people who are willing to spend.

As stated before, they must need to have a problem and be looking for a way to solve that problem.

Some people may be looking for a way to earn extra income for bills, vacation, financial freedom, or a better means to provide for their family.

Millions upon millions of people are struggling with addiction, losing weight, getting lean, or encouragement.

There is an array of situations or circumstances that people have daily and are constantly looking for solutions online.

To make it simple for you if you are just looking to get your feet wet three huge markets to choose from are health, wealth, and relationships.

These are fairly broad, but can be broken down to more specific things with the right research, which leads me to discussing four keys that make a profitable niche.

Four Keys to a Profitable Niche

1) Are there lots of offers to promote?

If you are looking to make profits in any niche you must be able to have a wide variety of offers or products to promote.

An offer shouldn’t be any old products.

As we discussed before is should be something that is relevant and provides a solution.

Providing offers is how you make your money, therefore it is important to have an array of products to present.

2) Are customers in this niche buying?

 If you want to run a profitable business people will need to be willing to actually spend money on the products you provide.

If customers are not willing to make a purchase then there is no way for you to produce revenue.

They also must be willing to buy what you promote online.

If you are electronics people may get all the information they need from you and go by from the local electronic store.

That’s probably not a good niche for you to be in.

3) Can you market to this and make a profit?

Some niches you might choose may fit in the first two questions but may be so expensive to market that there is no way to make a profit.

This would apply to the super niches that big brands or big time marketers spend mega money on for traffic.

Not only is the competition high, but also the cost to spend on paid advertising.

Your best bet with these would be to narrow down the niche into something more specific or specialized.

Lastly,

4) Do you have an interest in this niche?

Is it something that interests you?

Most people will say passionate, but if it’s something you like and are willing to spend time on you don’t necessarily have to be passionate about it.

The point behind being interested though will make it much easier for you to research, create content, share information, and promote products that can help your subscribers.

Don’t be afraid of a little bit of competition.

Competition should not be looked at as a negative.

If there is competition in the niche you choose that means people are making money and people are spending money.

Try to create your space in that market and dominate it.

Be creative and learn how to be better than the competition or more memorable.

Best Wishes!