11 Steps To Choose a Profitable Niche
Do you ever think about creating a niche site? Then, having a profitable niche is a necessary procedure to consider if you are going to attain your goal. Having a specific niche is a criterion that should be highly considered for the monetization of your blog, and could bring the turn around you so desire.
Choosing the perfect, profitable niche is an important decision to take, in as much as it requires some forethought and research, so I have made a step by step easy-to-understand guide for you, to explain how to choose a very profitable niche.
Why am I so concerned about you finding your most profitable niche? Well, because what might work for Man A might not work for man B. I want you to tailor your niche, not just to what will attract the most money now, but to a solution you will ultimately be happy with in the long term.
So… let’s get started with our 11 steps to building profitable niches.
1- Begin with what you already know.
First of all, I would like you to make a list of what you have in-depth knowledge about; you can find clues in your life experience, work experience, etc.
My list includes:
- Working from home
- Marketing online
- Budget weddings
Having seen my list, what does your list look like?
Keep in mind that you don’t need to be an expert in certain areas to be able to produce a write-up about it. If there is a niche market that you are somewhat familiar with, you can still include that in your list.
Why did I say that you don’t have to be an expert in some areas?
This might sound weird, but never mind. Let’s take an example: Consider yourself as a reader. Assume you access the internet to read up on running. You’ll probably find out that many websites dissect this sport into pieces, talking in exact details such as how the different parts of the leg work while running.
An average person, who searches running online, probably will not need an expert explanation. Say maybe you were looking for a couch-to-5k training guide, some of the information and guidance on breathing techniques, or how to avoid common injuries.
Considering these kind of articles, there is a high chance that whoever wrote them are experts, but they probably do not include all the fancy details that the expert articles mentioned above will include. The important point is that their audience doesn’t need this advanced information.
So if you have a niche that you have experience in, you can then add this to your list. You will then only need to find the right audience that can relate to your niche.
2– Make an Adjustment to Fit your Interests
Having made the list instructed above, now is the time to make some adjustments to that list. It is inevitable that past experiences in work will have given you a bit of material to work with.
However, how many of these subjects are things that you are genuinely interested in? For example, I added dentistry to my list, since it was part of my work experience. You may want to know if I am interested in dentistry; the answer is NO, not really.
Have it at heart that you are going to be spending a whole lot of time in this niche. You are going to be reading about, writing about, studying, talking about, and investigating this topic for as many hours as you work in a week.
Will you be willing and disciplined enough to devote that much time and energy to a topic that you will end up getting bored with?
Go back to our original list, and remove any topic you are not interested in.
Now it’s time to add to that list. Firstly, I would like you to think about your hobbies, the things you do in your spare time. What is the most thing you enjoy doing in your extra time?
Let’s add those items to our list now.
My list now looks like this:
- Working from home
- Online marketing
- Fiction writing
Your list may be longer or shorter than mine, and if it is, that is fine. From here on, we are going to be narrowing down that list piece by piece, to eventually find your niche.
3- Narrow down your Niche
Coming into a smaller field of vision encourages you to be all the more focused. Narrowing your specialty brings you much closer to your target audience, those who are already interested in what you have to say. It can also help you to find appropriate affiliate products to promote on your niche website.
Before we get to this point, we are going to start the narrowing process.
Take a look at your list and see if we can make refinements. For example, one of my topics above was traveling, I might make that more specific by adding “budget travel” “travel in Spain” “Travel in Europe”, etc. All of these are topics I am interested in, and all fit into my original niche interest.
Since we have those alternatives all rattled off, it is time to see if they are viable. Let us combine your passion with things that are profitable.
4- Is There a Passion or a Problem?
Your prospective audience is the main focus of your niche website. If you can find an audience you can comfortably speak to, then you have won more than half of the battle in finding a productive specialty.
The two greatest helpers for individuals to investigate data on the web or make purchases are interests and issues.
A passion niche would include hobbies, things people do for fun, while a problem niche will incorporate wellbeing specialties, self-improvement, wellness, and so on.
These two concepts will often traverse one another.
For instance, an individual who is very passionate about traveling will always want to do research on different places online, make purchases of travel gear, flights, hotels, etc.
That same person may also have problems relating to jet lag, visa issues, a small budget, etc., in which case he will also turn to the internet to get solutions. In this way, with your rundown of specialty themes, it’s an ideal opportunity to limit which thoughts have energy as well as issues. Along these lines, you’re beginning to discover the voice of your gathering of people.
While your own experience is beneficial in this case, we also want to go to the extreme. Which precise information are individuals accessing about this subject on the web? What would they like to know? Would you be able to make a site that fills this need? There are a couple of various ways that we can establish this.
First, take the opportunity to check Google. When you run a pursuit question on Google, it will assist you with related ventures at the base of the page. When I look for ‘spending travel,’ Google reveals a number of related searches:That discloses to me something about my group of onlookers and what they need to know. Do this with numerous keywords relating to your niche website, and you will start to see recurring themes that inform you about your target audience.
Another way to find out about passions or problems is a free, online tool called Jaxxy. This tool allows you to make long tail keyword searches within a specific niche field, thus giving you an idea of what people want to know. In other words, are there passions or problems?
Of course, the primary goal here is not to get to know your audience. Once you understand their passion and problems, can you provide a real solution?
5- What Is Selling
For your niche to be genuinely profitable, it has to have something nice to sell. Niche website can make money in different ways, but one of the biggest is affiliate marketing.
If you are going to be an affiliate marketer, you need to have a product market.
The best kind of niches have both physical and digital products to sell in abundance. So, now it is time to see what is available in your selected niches.
One of the very best ways to do this is to check affiliate networks to see what products are available to sell. And, more than that, to establish which products sell. I always like to start with Amazon
This website allows you to search for almost any product you think of. So, now you can check to see how many products there are that are related to your field.
I have already talked about “budget travel” as one of my niche ideas. So, let’s test that out on Amazon.
Budget travelers like to travel with backpacks, so I searched for travel backpacks on Amazon.
First, consider the amount of products that are available on Amazon. Considering this is only one type of product I could promote in my niche, that is a pretty significant number. But, are these products actually selling?
Indeed, it would seem so. This single product has thousands of reviews, which means thousands of people have already purchased it.
Now depending on what you have chosen your niche to be, you could get involved in various affiliate programs. For example, my chosen niche of travel could link me to affiliate programs with hotels, tour guides, etc. Do some research online to see if your niche has any affiliate programs specifically related to it.
6- Check Search Volume
Another step to finding out if your niche is profitable is to Check Search Volume per month. It’s time to consider keywords. Choosing the right Search keywords for your niche is part of the delicate balance of targeting the right audience, getting notified on search query results, and ultimately finding success in business. Your niche can be split into different keywords, whether short or long-tail. Now, we need to know if these keywords are being searched online. There are a few various tools that can be used. The Keywords Everywhere browser extension is one of my favourite browsers. This Extension goes directly into your browser and shows you the number of searches per month for every search query completed. Also, consider those results from Google on related searches.
The public Keywords Everywhere tool shows how many times each keyword is being searched per month. It also shows me search volume for each long-tail keyword in the answer. Google Trends is another excellent tool to use. It allows you to view graphs of search volumes over specific periods. The area of your search can be narrowed down if your audience is concentrated in one particular part of the world. Another capability that this tool gives is that you can compare two different search queries, testing the popularity of both over time.
With these tools, you can easily find out how many people are interested in your niche.
What you want to see is the right balance of search volume for your specific, multiple-word keywords. For example, we expect to see a high search volume in a keyword like ‘travel.’ Lots of people search for that.
However, to know whether your niche is valuable, go back to list of narrowed-down niches above. Try to narrow them down even more. See how many searches are done per month using particular keywords.
If you find a few that still have a good search volume, you’ve hit the jackpot.
7- Bring your Social Media Activity up-to-date
How about we drill down into the points of interest of those inquiries, and discover progressively more about the general population behind them. Ensuring that your specialty is profitable before you begin your site is essential, and this step is necessary to improve your potential online gathering of people.
So, where do people in your area of strength collect to analyze topics relating to your niche? Internet-based life stands out among your most important resources when beginning a specialty site. Here, you have real-time access to your gathering of people, and you can pick up a great deal from focusing on and communicating with them here.
Be that as it may, for the present, we’re only going to utilize internet-based life to improve our understanding of their reality.
One of my most loved approaches to discover specialty intrigue is through Facebook gatherings. There are a large number of groups on Facebook, covering a wide range of various themes. Perceive what number of gatherings you can find that identify with your specialty theme. How many individuals are in those gatherings? What sort of actions do they take? How many individuals are sharing connections, remarking, and talking about this subject?
Another online life device that I use is Quora. With this system, you can see the inquiries that individuals are asking inside a specialty. Likewise, you’ll perceive how many answers they get, and how many individuals approve of these answers.
Observing the majority of this action will give you a quick snapshot of the legitimacy of your opinion in the online world. As a side reward, you’ll likely get many ideas for your specialty site’s substance.
8- Know your Competition
No idea about any niche is entirely new, and you wouldn’t want it to be.
If you see that there is strong competition in your field, this is a good sign.
Why is this so?
Remember what we want is a niche that is very profitable. Hopefully, using the steps above, you have been able to find quite a bit of search volume.
The volume is aimed somewhere.
If there are no niche websites that talk precisely about your niche topic idea, it can only mean one of the following: either it is not a profitable niche or people have lost interest in it and the competition isn’t high. Either way, it is better that you take note.
So, once you’ve found your competition and learnt how to deal with it, which niche site can you establish within your topics? A simple Google search will tell you that pretty easy.
The other side of the spectrum is also dangerous. You actually don’t want to get involved in an overpopulated niche, certainly because it could pose a danger to your niche website. However, notwithstanding the-off chance that you find yourself truly limited in your specialty thoughts, it’s increasingly unlikely that there will be excessively rivalry. The best kind of niche is one with a high demand, and just enough competition to be useful to you.
Once you’ve found that niche, though, don’t just settle in with the rest of the competition. You need to make yourself unique.
9- Be Different, be Better
While knowing the competition is important, you wouldn’t want to follow them, because that in its self won’t earn you the audience you need, or even place your niche website where you want it to be.
Instead of joining the competition, focus more on making your website niche unique. That is to say, focus more on being different and better.
Inside pretty much every specialty showcase, there is a gathering of individuals whose queries aren’t being dealt with, or if they are, are not being addressed well. Discover those sub-specialties and get into them! Those pockets of individuals could be your ideal gathering of people.
Analyzing the competition as we have done above will also give you many ideas about their methods. What do you like or dislike about these websites? Are they poorly designed or formatted? Are they old fashioned? What can you do to make your website better than theirs?
10-Use a Great Marketing Strategy
You may find that within your desired niche, many of the websites are managed by hobby bloggers who are not interested in marketing.
If making a great profit is what you desire, then this is your chance to shine.
Online marketing comprises many factors to be considered. If people within your niche are not keeping up with all these factors, then there is an excellent chance for you to step up. Just set up your website correctly, with a marketer’s mindset.
Finding out about advanced showcasing may appear to be an overwhelming assignment, yet online research or courses can make it a lot less stressful. With some time and exertion, you can develop enough ability to make your site genuinely beneficial.
Here are some advertising staples that you’ll need to implement on your site:
- Build an email list. This will help you by to pick up and maintain a following, and is another channel to advance offshoot items with. This devoted crowd will prop your site up, and returning perusers are bound to trust you and what you need to state.
- Optimize your page text for SEO. It’s not as hard as it sounds! The critical catchphrases that we were inquiring about above are actually what you’ll use to advance your posts. Place catchphrases with greater inquiry volumes into your web text and your site will naturally be easier to discover.
- Make your posts outwardly engaging. Including pictures, great organizing, and an engaging plan can have a significant effect.
By implementing these and other advanced promotion strategies, you’ll transcend the challenge and have the capacity to see positive outcomes from your specialty site.
11-Do a Test Run
There’s just so much research you can do from here on. On the off chance that you’ve discovered one bright star inside your unique rundown of specialty thoughts that has demonstrated itself to be commendable, at this point, it’s an ideal opportunity to test it out!
When you’ve set up your specialty site, compose a couple of posts rapidly that reflect objective key zones of enthusiasm inside your specialty. Answer individuals’ inquiries and take care of their issues. Alongside those posts, make sure to incorporate subsidiary promoting joins, or compose a survey of a prominent item that you found in your past inquiries.
After you’ve finished, set up an email capture form, and some initial welcome emails. Promote your new website across different channels, such as social media, forums, or guest posts on other niche blogs.
Now, it’s time to see what happens. How many new followers do you have? How many people are signing up to your email list? Are you getting shares, likes, or comments on your posts?
This is the real test. Keep working hard, and it will soon become apparent whether this niche is profitable.
A profitable niche can earn you steady income. It might not happen immediately since it needs time, but it will inevitably produce good results with consistent hard work. Following all the steps mentioned above will help you achieve success in your niche website.
Whilst achievement isn’t ensured, it is undoubtedly made increasingly plausible after following these steps. Obviously, having somebody to manage you all the way through making a niche website is the most ideal approach to get results for your work.
With a touch of direction and a great deal of diligent work, your productive specialty will enable you to accomplish your objectives.