Getting Started: How To Choose A Niche Market for Your Online Income Site?
The big question when building an online income site is, “What should be the target market of the site?”
Whether you are in Internet Marketing, Affiliate Marketing or Online Marketing, some of these terms are used interchangeably, you would have heard the term “niche” being used.
Choosing a good “niche” have been said to be the real secret of earning online income. It is that important.to many.
While we will go into the details of a niche and why it is important to online marketing, let's look at the general marketing benefit of a niche.
Niche Marketing is a marketing strategy. It is the opposite of Mass Marketing, which is marketing to all.
A “Niche” is a target market. Therefore, calling it a Niche Market is identifying a specific target market segment that you focus your marketing effort on.
The idea behind niche marketing is simple. When you have limited resources, if you can find a hungry market and deliver something they’ll be willing to pay for, you can earn income from it. If you manage to find a lucrative niche market, maybe you can strike it rich.
The big question will be, how do you find those lucrative niches in the first place? If it were really that easy, surely we’d all be online millionaires, right?
There are clearly some niches that are bound to be lucrative and others that are clearly not so lucrative. What’s the difference and how do you know which is which?
We’ll go into that throughout this article, but first it’s important to understand that just because a niche is profitable for another person or company doesn’t mean it will also be profitable for you.
Think about niches like weight loss. We know that this is a billion dollar industry today as people spend obscene amounts of money trying to lose weight each year.
Should you enter the weight loss niche? It’s going to be pretty hard for you to stand out if you do.
I’m not telling you to stay away from niches like that either. I’ll show you exactly how you can enter a massive niche like “weight loss’ and still come out a winner. As a hint, the more targeted you are, the better.
What Is A Niche?
Above is a definition of “Niche” by Cambridge Dictionary.
In online marketing, a ‘Niche” is a market segment with common attributes that the online marketer chooses to target on.
Niche marketing is a marketing strategy that focuses on a unique target market with potential buyers or customers who would most benefit from the product offerings.
There are many attributes to define a niche market, some of which are:
A niche market could stand apart from others because of:
By the end of this article, we would have cleared the air on niche, niche market and niche marketing. You will have clarity on exactly what these terms mean and know how to find or discover the best ‘niche' for you.
At its basic core, a target market segment may be a group of individuals who have a common interest or performing a common activity.
They might read about that topic, think about that topic, get frustrated by that topic, seek advice about that topic, think passionately about that topic, or a combination of all the above.
The topic is important to them in some way. It’s something that doesn’t easily leave their mind. As you can probably tell, there’s a lot of passion behind the topic. Whether it’s positive or negative emotions, it’s enough emotion that they are drawn to the topic at hand.
As a marketer, you'll enter into a target market segment and earn an income by promoting and/or creating products that these folks will buy. Whether you’re selling information products, creating niche websites, writing books, or however else you plan to earn your money.
That’s because the Internet has changed the way society operates. Never before has it been easier for people who are interested in a particular topic to find like-minded people on the web to chat with or earn from.
People from every niche market under the sun buy products online, join social media groups, subscribe blogs, and continue with news, information, and others in the niche in every way they can.
A great number of people don’t just browse and learn about their topic online. They also buy products online. E-commerce has taken off in a major way. This is where you come in. The niches you want to focus on are ones where people are spending money.
You’re want to focus on the niches where people are hungry to spend more and more money buying new products to satisfy their passions or fulfill their needs.
As a marketer, you should target a niche that you can deliver something to as a way of earning a great income. There are certain niches that don’t really spend any money. Those aren’t the niches you’re interested in.
There are other niches that spend a lot of money but are over saturated by competition. I’m not going to tell you to steer clear of those niches, but I am going to tell you there’s a certain way that you, as a newbie and sole business owner, got to specialize in those niches.
The #1 rule for you as a niche marketer (and now that you’re reading this guide, you are one) is that you’re only going to target niches where people are actively spending money. You don’t want to focus on a distinct segment that's really popular but that nobody spends a dime in.
You don’t even need a niche where people might buy only one product and nevermore. You want a really hungry niche where people are spending tons of cash and buying product after product, reading everything they will get their hands on, and more.
Which Niches Are Good For Online Marketers
You might be waiting for me to hand over a list of the best niches that I recommend you get into. I’m not going to do that, for the simple reason that there are an incredible number of great niches out there. I certainly don’t know what all the profitable niches are. No one will ever have time to hit them all.
In the early days of Online Marketing, bloggers with writing blogs based on their interest and not specific identified niche markets. Then they added the eBay affiliate program combined with Adsense to monetize their sites, You can say most bloggers or accidental affiliate marketer just randomly guessed what niches might be good.
These early “systems” that worked at the time (but probably won’t now) are to built mini sites around keywords in those niches that one chose. You would just come up with a moderately broad idea, grabbed some keywords, generated some pages, and quickly set up sites that might or might not work.
This trial and error approaches produced results for some most bizarre niches that you would never expect to do well, did incredibly well, and some ones that you would expect to shine were duds.
So I don’t want to suggest a list of niches because no matter how long my list would be, it would never be long enough, and never be correct for you, and besides, things change from year to year anyway.
You’re going to have to get really good at finding niches that will work well for you. You also need to learn how to find niches that will be profitable for you.
It also depends on what your goals are. Different niches work for different people and projects. I can’t tell you what to choose. I’m teaching you how to fish rather than just giving you the fish.
But, I can give you some examples of niches that are profitable so you can get a solid picture of what you’re aiming for. I’ll also give you examples of sub niches so you can see that there really are an endless number of options out there.
Online or Internet Marketing itself is a niche. I’ll bet you knew that, and I’ll also bet that you’ve heard at least one person tell you to stay far away from the Internet Marketing niche because it’s “too saturated.”
That’s a complete myth. As with any mega niche out there, you just have to go a little deeper. You need to “infiltrate” the audience you’re interested in and find a smaller, less saturated segment of them.
So, maybe you’re a writer. You could develop products and help other people learn how to write. That’s a niche that can fit under Internet marketing (so, you’d target people who want to learn to write so they can make money online) or another niche entirely.
Let’s say you target people who want to learn to write to publish Kindle books. Or, those who want to learn to write so they can submit articles on the web, or to their local newspaper, or to a book publisher, or to write press releases.
As you can see, some niches actually straddle a number of other niches. You’re going to choose a niche you think you can serve. Then, you’re going to figure out, very specifically, who you’re going to sell to.
So, maybe you choose “learning how to write” as a niche… but the way you train Internet marketers to write will be different from the way you teach wannabe newspaper reporters to write. I don’t want to go too deep into this right now, but it is something I want you to be aware of.
Online Marketing has been growing in breadth and depth. Therefore, even with the perception that it is competitive, it isn’t too saturated; you just have to find your “niche within a niche.” In fact, it’s often these really popular niches that are actually your best bet because there are so many people in them.
Another example of a niche is parents. Parents spend money learning how to be better parents, right? But, can you really make money with something so general? You have to go deeper. For instance, a profitable niche might be “home schooling” your child. A deeper, more specific niche might be “home schooling the early years (foundation) of your child.”
You can really have fun with niche selection, as you can see. A niche is a good one as long as you think you can really help people, there are actually people looking for help, people are spending money, you can stand out in the niche in some way, you enjoy the niche, and so on.
After you’ve finished going through this guide, I have no doubt that you’ll have your own set of criteria you go with before you can be confident about entering a niche.
How Does A Niche Earn Income?
The most important focus whenever you start a niche to helping your target audience. However, you’re going to be a lot more motivated to do that if you’re earning an income doing it.
So, how are you going to make money after you enter into a niche? You’re passionate about teaching people to write, or home school their child, or lose weight in middle age or whatever the specific niche you’ve chosen is.
Where’s the money? That answer is easier than you think.
First, you’re going to look at what other people in the niche are already successful doing. What are they selling and how are they earning money?
They might be selling their own ebooks or info product courses. They might have published on Kindle or CreateSpace.
Maybe they have a massive blog where they feature ads. Maybe they have an email list and promote products as an affiliate. Whatever it is, they’ve made sure that they are monetizing well and earning money for their work.
You’re a marketer, there’s no shame in it. The important thing is to find the balance. You are helping people but you’re also working your way to a fantastic income at the same time.
It’s important to consider the opposite of that as well.
Some marketers want to start jumping into a niche and start marketing like crazy. They then wonder why no one is buying… why isn’t their audience responding?
Well, it’s because they haven’t provided enough value. Provide value and your audience will respond.
Later on, I’m going to have you start with the end in mind. You’re going to settle on the business model you’re going to use, first. There’s no sense in choosing a niche that responds best to blogs (such as the food recipe niche) if you’re planning to sell certain types of how-to information products.
That’s not to say that you can’t get into everything… there are plenty of marketers with websites, blogs, social media sites, info products, Kindle books, and more out there.
However, It is best for you to have at least a general idea of what you want to spend your time on as a business model before you settle on your niche.
There’s a lot that goes into this decision, but I hope you find that it’s not that difficult of a decision after all.
Can You Be In More Than One Niche
You’re going to be spending a lot of time in this niche. You’re becoming very dedicated to your niche, the people of your niche, and earning together with your niche.
Are you married to it forever?
We all get bored sometimes. We all get stuck sometimes. Sometimes, we feel like we’ve done all we can do, for now, in a particular niche and we’re ready to try something new. That’s absolutely okay—it’s to be expected.
You can be in more than one niche. You can create different pen names or opened up to related niches with an equivalent pen name – do what works for you.
What we don’t want to do is jump from niche to niche, and project to project, without ever finishing anything.
That’s death to all online or Internet marketers. In fact, it’s probably the biggest reason why so many people fail in online marketing.
There are a huge number of bright shiny objects in the marketing space. There are new products, new business models and new “secret” techniques for brand spanking new “secret” business models beginning all the time. You see all the emails and you’ve gone through the struggle.
What’s the answer? The answer is to turn the noise off.
Dedicate yourself to picking a target market segment and following through until you complete the project you’ve planned for this niche. Then, rinse and repeat. There’s always time to add additional business models, niches, and ideas after you follow through with this one.
With that said, it’s a good idea to be involved in more than one niche over time. You’ve no doubt heard that phrase that you shouldn’t keep all of your eggs in one basket. This goes right along with that.
Maybe you’re targeting a unique segment that’s really popular today. That doesn’t mean it'll be popular next year. If you’re in one niche, your profits can dry up overnight. If you’re in multiple niches, that “drying up” will be a mere blip on your radar.
For now, start with one niche. Keep your eye on adding more within the future, once you’re in the groove and are profiting.
How To Use This Guide
Throughout this article, we’re going to talk about everything from brainstorming a niche, to vetting a niche, to profiting from a niche.
I suggest you follow the guide from start to finish at first.
Then, refer to specific sections as you need to, as you start to formulate your niche success plan and put it into action.
Discover Your Niche
Now that you have the background, it’s time to do the actual work of discovering your niche. Some will refer to this process are choosing your niche but I believe it is more of a discovery process.
There are so many possibilities—both in the niche you choose and the amount of money you can make. You could earn life changing income from the niche you select. That’s pretty amazing, and it’s all made possible with online marketing.
There are several ways you could get started. I’m going to have you start in the way I think helps avoid online marketing burnout. I want you to love your niche, follow through with marketing to that niche, and earn a great income from that niche.
That means starting with your passions.
- What do you care most about in the world?
- What do you spend money on and think about most often?
- Would you be willing to spend day after day immersed in writing about and talking about?
Sure, you want to make money with what you’re doing. But, you also have to like what you’re doing or you won’t follow through with it. Follow through is what most marketers have trouble with.
I have to caution you that just because you like something doesn’t necessarily mean it will be profitable. Some people are surprised and saddened to learn that the things they like aren’t profitable after all—it’s even worse if they learn this after they’ve spent a lot of time and energy trying to make it work.
You have to like it, but it also has to be profitable. What fits the bill for you?
It’s time to think of ideas. Think of what you spend your own money and time on.
- Which forums do you belong to?
- What and who do you follow on social media?
- What books do you read?
There are some clues hidden there. If you’re already an expert in a particular niche, you’ll have a much easier time making money in that niche because you don’t really have to research it.
Popularity of a Niche
You also have to consider the popularity of a niche. It’s no good for you if just “some” people are spending money. You don’t want to target the smallest active niche there is, even if it would be slightly profitable for you.
You want a niche that is very popular and active. The more activity involved with that niche specifically, the better. There should be other books, products, videos, articles, social groups, forums, and so on. You want a flurry of activity.
At the same time, you don’t want this popular niche to be so general that you really can’t stand out in it.
Choose a popular, specific niche that allows you to really zero in on your specific audience, eventually making sale after sale with your lifelong customers. That’s the goal.
Begin With the End in Mind
As part of the process of discovering your niche, I would like you to think about beginning with the end in mind. I mentioned this earlier, but let’s take a more thorough look at it now.
Would you ideally create for the niche you’re considering? It’s time to think about your business model. Maybe you’d like to write a series of Kindle books in a certain niche. Perhaps you’d wish to create niche websites or blogs.
Maybe you’d wish to build an inventory of ideas and release info products for a particular niche. Today, there are a good deal of online marketing business models you can innovate on.
The thing is, you actually have to decide on one niche. It’s hard to settle on a targeted market segment if you aren’t yet settled on your business model.
That’s because certain business models are better in tune with certain niches. Something that’s popular on Kindle isn’t necessarily popular as a digital information product. Or, maybe it is. You have to do your due diligence and figure that out.
You have probably purchased digital products or seen much online marketing business models.
It’s time to choose the one that resonates with you the most. Now, allow yourself to imagine and dream. If you'll choose your ideal life and business as an online marketer, what would it be?
- Would you have dozens of really successful Kindle books up for sale?
- Would you like to have a really powerful blog that’s #1 in your niche?
- Would you like to have a huge list that you promote affiliate products and your own products to?
Allow yourself dream a little. Then, make sure you choose a niche and a business model that fits into your dream.
If you begin with the end in mind, you’ll be more likely to accomplish your dreams.
Coming Up With Niche Ideas
At this point, you might be a little curious as to how you’re supposed to come up with niche ideas in the first place. I’ve mentioned that you should think about your own passions, of course, but there is more that goes into it.
Soon, we’ll talk about how to brainstorm niche ideas. I just didn’t want you to get too ahead of yourself. There are certain steps, and a certain mindset, that are important to take before you really dig in.
I should also mention that it’s completely okay to take your time when it comes to choosing a niche. This is a serious business decision that warrants some careful consideration. You need to make sure all the pieces of the puzzle will fit together, of course.
At the same time, don’t let this be a decision you stew over. I want you to have a profitable niche chosen by the end of today.
I want it to be a niche you’re really excited about and can’t wait to get started with.
Are you ready for it?
Adding Business Models Once You’re in a Niche
Are you having trouble choosing a business model?
Of course, I want you to choose just one for now. I want you to focus and stick with the business model and the niche you choose today.
It’s so important to see this through and to not get distracted by everything else that’s going on around you. Turn off those emails that are arriving in your inbox by the minute, if you need to. But, after you’ve started to become successful with one particular business model or project, it’s completely fine to add additional projects.
You can be a blogger, a Facebook marketer, an info-product creator, and a Kindle author. You can completely dominate your niche by getting into plenty of different projects.
You can combine all of those business models to fit under the umbrella of your business as a group.
You’re never married to just one business model. You’re never married to just one niche. What I want you to be married to is the fact that you’re going to see this one thing through until you’re successful.
Then, you’re getting to add on additional business models and extra niches so you'll become truly successful online.
This is really exciting, and I hope you can see just how this can change your life.
Coming Up with Amazing Niche Ideas
Let’s get down into the mechanics of niche selection here, rather than just theory. This is a step-by-step process of what will help you choose a great niche, even if you’ve never done it before.
As mentioned earlier, brainstorming ideas based on your own passions, needs, and interests and of those who are close to you. But sometimes, those juices just won’t start flowing. You feel stuck, like those profitable ideas just won’t come to you.
The great news is that feeling will absolutely go away after you go through my process. This is a surefire way to come up with endless ideas for profitable niches.
They say just one idea could be worth millions. I don’t know what your niche idea will eventually be worth to you. What I do know is that this is the first step toward changing your life, so you better make it count.
So, how do you brainstorm ideas? It’s time to gather some inspiration from all over the web.
One of the first and best places you should go is Amazon.com. Why? Because they have the widest and best variety of products, books, and otherwise. They also provide you with invaluable data about what’s selling and what’s hot right now.
Go ahead to Amazon’s front page and start browsing through their categories to get a feel for their site. You’ll soon notice that there are subcategories within categories. There are even subcategories within subcategories.
Now, concentrate on the area of Amazon you think would best point you to a niche that will work well with your business model. If you’re going to write books or info products, you should check out the Kindle section. If you plan to release info products, you might head to the magazines section on Amazon (that’s a brainstorming model we’ll dive deeper into in a bit).
Do you have your notebook handy? You’re going to jot down every niche idea you get as you browse through Amazon. You’re not limiting yourself or censoring yourself at all at this point. Every idea is a good idea, for now.
Let’s say you’re browsing through the Kindle categories. Since you’re an Internet marketer, you’re likely interested in the non-fiction categories. Do any of them strike you in particular? Click on those categories and any subcategories that draw your eye.
Now, investigate the top books or products in the category you’ve selected.
Do they have lots of reviews? Is their sales ranking on Amazon low? A low Amazon product sales ranking indicates that it’s selling well.
Are their lots of products or books or whatever it is in that niche? Is there obviously a lot of activity and customer interest in that niche? If so, then it’s probably a good category for you to write down on your brainstorm list for now.
You could get lost all day browsing Amazon for niche ideas. Make sure there’s a rhyme and reason for the browsing you do. For instance, you can go to the bestsellers section for any category you’re interested in on Amazon.
You can also browse the movers and shakers, the products and books that are soon-to-be released, and more. I mean it when I say that Amazon can be a rabbit hole of really excellent ideas.
In addition to using Amazon, you can also browse magazines for niche ideas. You can go right to magazines.com if you prefer. Here, you can take a look through popular magazines. If there’s a magazine about it, you can almost be sure that it’s a popular niche.
You’ll be surprised to find that there are magazines out there you’ve never heard of, in niches you’ve never heard of!. Pay particularly close attention to the headlines on the covers of the magazines.
These are topics that the professionals at the magazine thought would be most attractive to the people of this niche. That can be a good indicator that those topics are a good idea for you to focus on as well.
You can also browse online marketplaces where other marketers list their products for sale. Other marketers have succeeded before you, so why not emulate their success?
Some digital marketplaces include cj.com, ClickBank.com, JVZoo.com, Nanacast.com, Rakutenmarketing.com, WarriorPlus.com, Zaxaa.com, and many more. These all have affiliate options as well as options for businesses and marketers to list their products.
Browse through the top products or companies on each of these sites.
- Do you notice any patterns?
- Click through the various categories, noting sales data and popularity as you go.
- Are you getting any ideas for great niches?
You want to follow in the trail of what is already successful.
Or, maybe those kinds of niches aren’t really what you’re looking for. Maybe you prefer to cover trending niches or topics. Maybe you’re looking for something that’s so hot, right now, that you can’t go wrong. Maybe you’re looking for a niche that’s really popular but other marketers haven’t really discovered yet. That’s riskier, of course, because you won’t usually have the sales data available. But there’s no sense in turning away from what your gut and research tell you could be an extremely profitable opportunity.
You can search for trends at trends.google.com. You can visit Twitter and Facebook to take a look at their trending lists, which they make very visible on your social media accounts. You can take a look at breaking news and trending blog topics.
Visit sites like Alltop.com to get a feel for the most popular trending topics and blogs on the web, within certain categories.
Popular blogs and news stories can be great for brainstorming. You’re bound to find some great ideas you can tackle for your next project.
The web is a fantastic resource for brainstorming niche ideas. Just make sure you don’t censor your thoughts and just write down anything that strikes you as you visit the various websites and resources.
Validating Your Niche Idea
How do you know your ideas are any good?
What if you have a list of possibilities that’s a mile long?
There’s no reason to worry—I’ll tell you exactly how to narrow your list down so you can choose the niche that’s going to be the best choice for you, today.
First, circle the top three niche ideas you feel pulled toward. These should be niches you think you have a good chance of success with.
They should be popular, exciting niches where there appears to be a lot of sales and activity. They should also be niches you think you’ll enjoy working in.
Next, it’s time to double check yourself and make your final decision. Please don’t feel like this decision is the end-all, be-all. It’s not! You can always go with the other niches you found and brainstormed at a later date.
But, you can’t just sit there and stew over what to choose. You need to make a decision. You’re a lot more likely to make money if you take action on a so-so niche than you are if you don’t take action at all, because you’re paralyzed by thinking you’ll make the wrong choice.
Now then, circle the top niche you’re drawn to out of your list of three. It’s time to go with your gut. You need to verify that it’s a good niche by confirming its activity and sales potential. You also need to make sure that you can (fairly easily) stand out from the competition that’s already present.
Are there blogs and websites dedicated to that topic in droves? If so, confirm that the top blogs have a lot of comments and activity going on. This has to be a REALLY active niche if you want it to earn for you for the months and years to come.
Are there books out there on the topic that are selling well? Are there multiple angles and subtopics these books have covered? If so, that’s a good sign. The fact that people are releasing books on various related topics signals that this is a viable niche.
You want people to snap up book after book, product after product, in the niche you choose—whether you’re selling your own books or info products or promoting them as an affiliate.
How about info products, specifically? You’re an online marketer, so it’s a safe bet that you will want to build a list and release your own products within your niche. In any case, you’ll want to build a list… that’s just smart marketing no matter what your niche is.
What about social media? Are there Facebook groups and fan pages surrounding the topic? Do a search for the niche you’re thinking about and see. Are there Twitter conversations about the niche?
You’re probably going to make use of social media to promote yourself in your niche, so there should be a lot of traffic going on already that you can step in front of.
I can’t say it often enough—the niche you choose has to be profitable for you. You’ll have a miserable time of it if it’s not. That means you have to make sure you have a niche that has a strong likelihood of making money for you.
You also have to have a plan for how you’re going to earn that money.
Some people make the mistake of entering a niche, trying something out, and expecting to earn like crazy from it right away. It doesn’t usually happen that way. You can’t declare that a niche “isn’t profitable’ if you just dip your toes into it.
You need to have a solid business plan and a plan for how you’re going to differentiate what you’re doing from what everyone else in your niche is doing.
People out there want solutions. They are willing to pay handsomely for solutions. If you can offer them the solutions they crave, you can do exceedingly well.
But, how are you going to stand out? Why are you the right person to enter this niche? I have no doubts that you can make this work for you. You just have to believe you can do it and have a plan for how you can do it.
So, there are two parts to this.
- You have to enter into a profitable niche that you really enjoy.
- Then, you have to flow through and execute a profitable plan or business model.
Sound tough? It’s actually a lot easier than you think. It might even be fun for you, once you give it a try.
Validating the Niche… Again
Does the niche selection process sound tough so far?
It’s really not. It’s also something you’ll get better and better at over time. You have done a lot of digging to make sure the niche you’ve chosen is a good one. But, it never hurts to do a final validation to make sure you’re on the right track.
Do the people of the niche you’re targeting have a true need or problem you can help them with? If there’s no need or problem there, you’re going to have a hard time of it.
Are lots of people buying in the niche? You want to target a buyer’s niche so you can make money.
Just because people have an interest in something doesn’t mean they’ll pay money for it. You have to work out an answer to their need or desire, but figure it calls at how which will be profitable for you.
You also need to find out who you’re serving, very specifically.
Don’t just assume you recognize everything there's to understand about the niche. There’s bound to be a lot that you don’t know. You can use sites like Alexa.com and Quantcast.com to collect data and facts about the people of your niche and therefore the websites they frequent.
You really should get to know the human element that’s involved here. These aren’t just people that are getting to hand you their hard-earned money simply because you’re selling them something.
These are people who will hand over their hard-earned money only if you can differentiate yourself from the other marketers in the niche and really help people in a way that makes it inevitable that they’ll want to spend money with you.
If you focus on giving, giving, giving, and developing real solutions for people who are desperate for them (and who are willing to pay handsomely for them) you can do really well in the niche you’ve chosen.
Also consider whether you’ve gone deep enough in your niche. Have you truly considered all the sub categories and niches that are available within the more general niches?
It can actually be more lucrative, more quickly, if you target these under served, yet still very hungry, niches. It can also make for easier work for you, since you won’t need to specialize in such a broad topic.
The most important thing is that you don’t doubt your ideas. Don’t hold yourself back simply because your niche “might not” be profitable. You’ve checked and checked again. Now, it’s time to let go of the doubt and just move forward, no matter what.
Even if it looks like you’ve found the simplest, most sparkly-good niche within the world, you would possibly be frustrated soon after you're taking action. It can seem like things aren’t happening quickly enough… like you’ve done all this work so why aren’t you being rewarded?
The truth is that you have to keep testing, tracking, and tweaking. You won’t know what works until you test it out. No book can tell you what the right niche is.
But, if it’s a lively niche where people are making money, you'll bet there’s a way to make money out of it. You just got to adjust your technique until it happens for you.
Building Your Online Presence to Establish Yourself in a Niche
Next, let’s talk about where to go after you’ve chosen your niche. We’re not going to get into specifics here when it comes to business models—there are a ton of books out there that can help you with specific business models.
It doesn’t matter what your business model is or what you’re doing, you need to have an online presence.
An online presence gives people a chance to get to know you. The more people know, like, and trust you, the more likely they are to buy from you.
An online presence also keeps you fresh in people’s minds. You don’t want to be “out of sight, out of mind”… you want to be so relevant and present that people can’t help but run into you all over the web.
Building an online presence also gives you security. You want to be present on social media, on forums, on your own website, and through your sales channels.
I suggest you take the time to see what other marketers in your niche have done to establish themselves. Look at their Facebook pages and groups. Could you start something like that for yourself? Look at their Twitter accounts—how do they network with other marketers as well as their customers and readers.
It’s important for you to network and develop relationships in any way you can online. It’s going to help you be much more successful.
When you’re first getting started, it can be intimidating to think about standing out. Just get in there and start chatting with other people in your niche. Be friendly and helpful on social media, forums, and popular blogs. Show people that you know what you’re talking about and that you’re the one to watch in this space.
You never want to spam, of course. You don’t want to just push sales messages all the time. You’re presenting a persona to the people of your niche, so it has to be a good one. It has to be one people will be willing to buy from.
So, figure out what your branding is going to be in this niche. Get your website up. Create a Facebook page or group dedicated to helping people in the niche. Join relevant forums. Wherever the readers and the experts of this niche hang out is where you need to be. This is how you become well-known and successful.
The thing is, no matter which niche you choose, you never really have to start from scratch. If you network with others you can find success more quickly. Your name will spread, you’ll find opportunities to work with those who are more established (affiliate opportunities, joint ventures, partnerships, and more).
Having a web presence simply gives you a much higher, stronger chance of success.
Creating a Solution and Monetizing It
At first, you would possibly just feel your way round the niche and network, not doing much within the way of sales. But, you’re not just playing at this—it’s a business. That means you have to treat it that way.
You’ve chosen a particular niche because you can help people and because people are willing to pay for that help. It’s time to be serious about creating your solution and monetizing it.
Again, I’m not getting to go too deeply into business models. But, I will cover the basics so you get something in mind before you move on.
What is the foremost pressing need of the people you’ve interacted with, in your niche?
Can you create an info-product that will help them?
Take a glance at what other products and books on the market cover.
Figure out what’s missing and how you can fill in the blanks for the audience in your niche. Creating this solution may be as simple as writing a brief report or and ebook.
You may also create a product like consulting or coaching. When you’re first starting out, you might want to stick with simple little products like an ebook or this article itself. It addresses a struggle people have (how to settle on a profitable niche) and guides them through from start to end.
It does not need to be a long and complicated article or book, but make it clear and concise would easily solve the problem many people have. That’s along the same lines of what you should be doing for your audience.
You can create a series of information products, or release books, or courses. You can create informative and helpful blogs and websites that assist you earn in other ways. You can become an affiliate, promoting products of others in your niche.
You can gather affiliates of your own, giving them a commission for promoting your products. Early on, I had you work out what your business model would be together with what your niche would be. This is where you execute that decision. You do not need to do everything in one go, it can be done over a longer period.
At its basic core, online marketing is all about providing solutions for people that need them. Create an answer and monetize it within hungry niche and you'll earn an incredible income.
A Final Run Down Of Choosing Your Niche
You’ve read this blog article and now you’re really ready to take action. Here’s a shorter version run down of what you should be doing to find a profitable niche.
- Brainstorm possible niches
You can brainstorm based on desperate needs you have or have had. You can brainstorm based on things you’ve heard in the news or problems and solutions you know are currently possible.
- Research Ideas
You can get ideas by looking at how the popular “how to” books and products are doing, on Amazon and off. You can scour through Amazon categories and subcategories to get ideas. You can visit the magazines section at Amazon or use Magazines.com to get ideas.
When you choose a niche, you’re going to make sure it’s very active—there has to be a lot of activity surrounding it on the web.
You have to ensure you’ll enjoy being in the niche. It really helps if you’re passionate about the topic or if you can become passionate about helping the people in the niche.
- Sales opportunity
You’re going to ensure there’s a lot of sales activity in the niche as well. There should be a lot of products and books for sale already.
You’re going to find your specific niche within this niche. You’re going to differentiate yourself and your products and the way you help the people of the niche.
Once you find a good potential niche, vet it. Look at the potential for profitably, the activity on the web (websites, blogs, news, social media, forums, and more), and how you might provide solutions to this hungry market.
- Go for it
If it all looks good, you’re going to enter the niche. You’re going to execute your business model, whether that’s creating info products, writing books, creating blogs or websites, or whatever you prefer.
It’s Time to Profit!
You now know everything you need to know to get started choosing a great niche.
There are certainly other methods out there, and you’ll soon discover a way that works best for you. For instance, some people do keyword research or use a variety of tools to help them.
Start with what I’ve presented to you here and don’t let things get too complicated. You can still be successful with a simple method.
We live in a great time and the web makes it really easy to find incredible, profitable niches. Believe in your abilities to build your online business by choosing great niches and serving the needs of your audience.
I have no doubts that you can succeed, and this is the first step.