Finding Profitable Niches can be difficult so you should take some time to figure out which one(s) you want to enter into. Actually, first you should know what a niche is!
A niche is a simply a targeted part of a market. This would be the specialized group of people that have a specific interest in something. Seem vague? Let me give you an example (there are more details to follow). You might want to market to Stay at Home Moms. On the other side, you may decided to market to High Power Wall Street Executives (although, I know plenty of High Power Stay At Home Moms!!!). You may want to market to the group of people that like to water ski, in the US, during the summer, on the 4th of July! Each of these groups is a market.
Finding profitable niches can be difficult. Discovering one that isn’t extremely saturated can be intimidating when you’re just starting out as an Internet marketer. The key to finding niches that are profitable without a lot of competition is to drill down through a top-level niche to find profitable sub-niches with fewer competitors.
For example, let’s say you’re interested in creating a site that in the beauty category. You can drill down into several different sub-categories. You could choose hair care, skin care, fitness, organic beauty, cosmetics, or any number of niches related to beauty.
But these categories are still too broad to be profitable with small numbers of visitors. You need to drill down further. Let’s say you decide to tackle the skin care demographic. Sub-categories of skin care might include eczema, acne, blackheads, wrinkles, age spots, psoriasis, and dry skin.
Now you have a list of smaller niches that you can begin to narrow down. Acne might still be too broad. You can drill down even more by targeting teenage acne, infant acne, and adult acne.
While you want to find niches that are narrow enough for you to dominate, you don’t want to choose niches that have too little traffic available. To figure this out, it may be helpful to spy on your competitors.
Go to your favorite search engine, like Google, and search for things like “how to get rid of acne.” Try to really get inside the mindset of your target prospect. However, if you drill down too much, like targeting “blackheads,” it may not turn out to be profitable.
You should verify that your possible niche gets a decent level of search volume by using a keyword tool like WordTracker. When you search within the niche using Google, see if there are plenty of AdWords ads on the right sidebar of the screen.
If so, this means people are almost surely making money in this niche. The key is to take something that’s already working and make it better. Any time you can come up with an original slant on an idea that’s already churning profits online, you’re in a good position to achieve success.
For example, if you want to get into the online auctions niche, don’t go after a broad subject area like “eBay for beginners.” Instead, target something more focused and unique such as “eBay Success for Baby Boomers.” Pick a specific target audience and then cater to their needs instead of approaching the masses with too broad an idea.
This is helpful paul
Great, Monick!
Put it to good use 🙂
Good advice. I am aiming to market to teens interested in Christian camping — which also means targeting their parents and youth leaders. It gets interesting because they all want to hear different things!
It certainly does! Since the niche is the same for the 3 groups, you can still incorporate it into one site. I would break up the site into three areas – one for each. Your blog posts can then be categorized by each group with the ability to read just for the one niche!
Of course, the best solution might be to have 3 different sites, each targeting the individual group (teens, parents, Youth Leaders) for camping, however, that is a big task and a great effort. You might not have the time right now to maintain each site.
Just something to think about!