7 points to consider when choosing a profitable niche is worth doing if you are serious about marketing.
Because of the number of niches out there – and remember there are thousands and thousands of niches – picking one to blog about can be overwhelming to a beginner.
These are the worries you may be facing:
- Do you choose a niche you’re passionate about?
- What if you’re passionate about minimalism? How will you sell anything?
- How can I be sure the niche I pick will be a profitable one?
These are just some of the many questions that many beginners have when thinking about how to find a profitable niche. Choosing a niche does not have to be rocket science. It really comes down to just a few simple criteria to meet and you’ll be able to spot a good niche within 15 minutes or so.
It’s vital that you pick a niche that’s profitable if you want your blog to make money. You can’t turn a donkey into a racehorse… and you can’t turn a losing niche into a winner.
1. Is there money to be made in the niche?
This is the first question you need to ask yourself. For example, if you’re planning to blog about model airplanes, your first step will be to do a Google search for your main keywords and see if there are other bloggers in the niche and if they’re selling/promoting products. If you see competition, that’s a good sign.
Secondly, you want products to sell so you’ll need to check if there are products to sell in your niche. In this case, it may be model airplane sets, acrylic paints, magazines etc. In fact, the products you have to sell, the better – and the more variations the product has, the higher the chances it’s a profitable niche.
Thirdly, you should analyze if the products in the niche are actually selling well. Actually, it is worth noting that there are several niches with products that don’t sell at all well. Visit Amazon.com and do a search for the popular products in your niche.
Take a look at the number of reviews and you’ll start to get an idea of the quantity of merchandise being sold, and you can ascertain the profitability and viability of the niche.
2. Do the niche/products solve a problem?
There are plenty of profitable niche markets around to choose from. Generally, if the niche revolves around solving a pressing problem, you can bet that it will be profitable. For example, takt the ‘make money online’. This niche and it’s sub-niches are highly profitable because millions of people have a NEED for more money in their life.
The ‘get your ex back’ niche is very popular because jilted lovers are in pain and will do anything to salve their broken heart. This is a
The same applies to the health niche. The health niche is the most popular niche of the lot, because when one is in discomfort, they’ll happily pay to end their pain/discomfort. Weight loss, migraines, back pain, teeth whitening, etc. are very profitable niches because people have these kinds of problems that need solving.
3. Is the niche a sub-niche of a bigger market?
Ideally, you want to pick a niche that’s a sub-niche of a huge market. For example, picking a niche such as ‘keto diet for weight loss’ will allow you to niche down and dominate the niche… and after that, you are still going to have room to grow.
You can promote fitness programs such as yoga courses, resistance training programs, etc. You can bet that the people who want to lose weight with keto will be interested in exercise too.
So, your blog has room to grow in future. A micro-niche might be easy to dominate but will not have potential for growth.
4. Pricing (7 Points to Consider When Choosing a Profitable Niche)
Continuing on from 7 points to consider when choosing a profitable niche, let us look at pricing. The price of the products you’ll be promoting and selling will indicate potential profitability. The higher the prices of the products in your niche, the more money you’ll be making from sales and commissions.
5. Keyword competition (7 Points to Consider When Choosing a Profitable Niche)
When choosing a niche, I would always advise to do some keyword research and analyze the competition. A particularly good keyword tool to use is Ahrefs. This tool will give you an understanding of the lay of the land and whether there is any possibility of you beating the competitors.
If you find there are lots of keyword opportunities and the criteria mentioned in the earlier points are met, this could be a profitable niche. If authority sites are dominating the search rankings, it might not be worth pursuing the niche. Or you might want to niche down further or simply go and find another niche.
How to find a profitable niche for affiliate marketing? It would be a good idea to check on the trend of the niche. Some niches are here today, gone tomorrow, flash in the pan trends that crash fast once the fad dies. Think Pokemon Go and fidget spinners. There was massive demand for a while… and now, it’s crickets. Choose a niche that appears stable, evergreen and if possible, trending upwards.
7. Can you drive traffic? (7 Points to Consider When Choosing a Profitable Niche)
Last but not least of the 7 points to consider when choosing a profitable niche, are you able to locate your target audience? This is an important point because you’ll need to drive traffic to your blog. If you really are unable to find your audience or they don’t hang out online, you’ll have a major problem here.
It is worth checking if there are other websites, forums, Facebook groups, Pinterest boards, Instagram accounts, YouTube channels, etc. dedicated to your niche. If there are then these are all possible avenues for you to siphon traffic from in future.
Are there others advertising in your niche?
If you see other companies advertising for products in your niche, then this is a good sign that you can reach an audience. The key here is to pay attention to the longevity of the ad. Some ads are here today and gone tomorrow because the advertisers lost money. So, it is always better to look for winning ads that stand the test of time.
These 7 criteria are easy enough to check for and will give you an excellent idea if the niche you’re looking at is worth pursuing and putting effort into. As soon as you have worked out whether or not the niche is profitable, you’ll just need to get started and keep going. Don’t procrastinate and brainstorm for too long. Action is the key to success.
“If you want to learn to swim, jump into the water.” – Bruce Lee
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