The mistake I made when I started an online business in 2003 was due to not having enough knowledge about “niches.” I started the business thinking I could compete with the big guys with no money to market it. I loved the eBay auction business and I started a website called “smartvu.com.” I failed woefully because I did not go into a profitable niche business that requires little money to promote.
If you are interested in making money online then the easiest way is to first do niche research, and then choose a profitable niche that doesn’t require thousands of dollars to promote. Then you can be sure to have 90% success. Here is a quick guide on getting started.
Understanding a Niche
Niche marketing involves finding a small sector of the market, and then developing suitable products and services for that sector. Generally, the market is highly targeted and all the focus is made on a specific theme or topic. As an example, the term ‘dog grooming’ implies a huge sector, but you can narrow it down if you specifically select ‘poodle grooming.’ You can narrow it further if you opt for ‘toy poodle grooming tips,’ which is actually a great niche for you to work on.
A niche may have a much smaller audience than the one involved with mass marketing. Since the size is not much, the audience can easily be located. This allows targeting to become simple because all of them have one interest.
Before you actually dive into internet niche marketing, you should know that not everyone you come across will show an interest in your niche. However, the ones who do show an interest will also be very eager to conduct deals and will help you earn profits. Another thing that you need to grasp is the fact that you can succeed in this field only if you put your efforts in a niche that has a lot of demand, but not enough supply.
With all this being said, let us proceed to the research part and find profitable niches.
Doing a Niche Research
The best way to search for a proper niche which you can target is to make use of several tools, such as Google Trends, Google Adwords Keyword Tool and Google Groups. Your purpose will be served if you use one of these, but a better approach is to utilize more of these so that you can find a potential niche. Affiliate programs can also guide you about which niches are popular, and where more products are sold than the rest of the industry.
Once you find a niche, you will have to look up relevant keywords. Go for long tail keywords because these are characterized by low competition levels. This will help you in acquiring a higher rank on SERPs.
Finding Profitable Niches
Until you find a profitable niche with loads of interested people, there is very little chance that you will succeed. However, once you get a hold of this, your profits are going to be long-term. Here are some quick ways of finding niches that will bring you plenty of earnings.
The most profitable niches are those where there is a lot of demand. For instance, common problems serve as very good niches because so many people are eager to find viable solutions to them. For instance, weight loss, relationship and dating advice, and financing and investments are some topics that are highly searched for. True, these areas are very competitive, but a few tricks can help you get ahead. For instance, SEO tactics and long tail keywords are two great methods for increasing your online traffic. Even link building will play its part quite well in the process.
Take a Survey
Are you connected to many people on social networks? Make a survey and request your circle to fill out. Ask them about their interests, and act on the responses you get.
Then, go through the products.
There are many websites on the internet that will provide you with a list of products offered in various niches. Once you realize what you will be promoting, you can choose a suitable niche accordingly.
Analyze a niche related to your hobby.
If you have a favorite pastime or are extremely good at something, you can start out in this niche.
Now that you are aware of the basics of what is involved in the internet marketing niche, you can easily set up and press forward. Do it right and you will be successful.