How to find a profitable niche?
A profitable niche...
If you don't know what a niche is, you can read about it here.
In that same article I say when choosing a niche you need to take the following in consideration:
- Identify the talents and skills you’re good at.
- What do you enjoy doing most?
- You might enjoy, but do people need it?
What is a profitable niche?
In my article "The first steps to success in affiliate marketing" I said: "Anything works. Really!".
Well, I was wrong...
While you and many others might enjoy Hobby horsing and there are championships too (yep really) I don't see how you as an affiliate marketer will monetize this.
Profitable niches are the ones that make lots of money.
A profitable niche is not the same as a popular one.
A popular niche is the recipes one, but how much money do people spend to buy recipes online?
Probably not much because there are so many recipes out there for free.
While this is popular, it is one you won't make money with.
In other words, not profitable.
You need to pick a niche that's both popular and profitable.
How to find one?
As it’s much easier to work on something if you’re passionate about it (when you have a passion, you’re usually quite knowledgeable about it too), if it is not profitable you only wasting your time.
So the first thing you should do after you wrote your list of topics your passionate about, is do research on your topic.
Type in your preferred search engine "top 10 (your niche/topic) websites" and look at the first page results on what they are doing, about what do they write and the most important thing; how do they monetize it?
Which blog posts get a lot of social shares (social proof)? If they get a lot of social shares, it means there is a need for it.
This will take time, even hours to do, but at the end you will be glad you did and not being one of those people wondering why you aren't making any money although you worked hard to make it a success.
Most blogs fail.
Okay! So, you should now understand why you need to pick a niche that's both popular and profitable.
Most people don’t even realize what went wrong.
They start off excited and motivated.
They work hard, they study, and they take all the advice.
But over time they find that no matter what they do, they just can’t make the money they need, no matter how hard they try.
Do you feel the same?
Now that you know how to find that popular and profitable niche might have you start all over again.
They key is not to waste your time and effort in a niche that isn't going to be profitable for you. Because that's your ultimate goal, right?
All the best,