So you would have seen me talk about finding a profitable niche before in a previous post here, but there is always some confusion around whether you think you’ve got it right, because at the end of the day, you don’t want to be pouring your efforts into a niche where there is no money – right?
Depending who you talk to, you’ll get a variety of answers, some say that you can make money in virtually any niche so long as you have a passion for it, whilst others say to pick your niche based on sound market research.
And really, there is no right or wrong answer, so you really just have to pick a niche that you’re comfortable with, or a topic that you know well.
Some people say that they really don’t have a passion for anything, or that they couldn’t possibly make an income with what they’re interested in, but the truth is you can literally make money in virtually any niche you can think of.
For example, I recently visited a shop in Hokitika, New Zealand and guess what they were selling?
I’m like, whaaat.
They were a little prettier than the ones you find on the beach, but still, they were JUST stones.
Some stones were made into, fridge magnets, paper weights and some stones were painted.
I thought – what an interest idea.
You see, the beach in Hokitika, is blanketed with these stones.
What a great way to make money – right?
So I tried searching for this term in Google and guess what else I found?
People selling driftwood. See here.
So here’s the interesting part – I found these niches by typing a simple phrase into Google and then observing what Google suggested my search was about.
You can watch a video of how it’s done here.
This data is based on what previous visitors have typed into Google, relating to that keyword phrase, which means, that enough people have typed the same phrase into Google.
This means there’s interest in this area, exactly how much interest can only be determined by using a keyword research tool like Jaaxy.
So when someone tells me that they can’t find a niche, or that their niche might not be profitable, then hopefully this example helps to illustrate that money can be made in virtually any niche.
Niche Finding Framework
Now that’s all well and good if you’re in a creative mood, but sometimes you just need a few ideas to get you started or thinking more creatively.
Sometimes it can be helpful to understand what a profitable niche looks like.
So, I’m gonna to show you a method that I discovered a couple of years ago that works extremely well, and I believe that it will shed a little light on whether or not your should even enter a market.
It is based on market research, and really comes down to a little research on a particular website that reveals thousands of profitable niches.
A lot of the time when you’re searching for a niche it’s difficult to understand how you should translate what you know about the niche into a website. As in what you should write about, what keywords you should base your articles on. What keywords are going to be the money makers and even what products to sell.
The scope of this article won’t go into how to construct your website or your content, but it will highlight profitable niches and how to capitalize on it.
So stick with me as I show you what website reveals all of these hidden profitable niches and how you can use the information to generate your own profitable website.
But first, I also want to mention that a lot of the answers to your questions can be found by simply performing a Google search, and then reviewing the results that are being returned. But you have to view the results through a different lens so to speak.
You see the lens you have on right now is not tuned to interrupt the data effectively, but if it was then you will see the results in a whole different light.
So it is vital that your interpretation of the data makes the connection, I know this might sound a little complicated, but it really just takes a little practice, and knowing what to look for and making sense of it all.
Okay, so let’s start.
Follow The Footsteps Of Others
This reminds me of the saying “no need to recreate the wheel”.
You don’t have to feel as if you have to start from scratch in a niche, because many times the hard work in your niche has already been done by someone else.
You will face some challenges and decisions along the way for sure, but often other people who are competing in your niche have worked those issues out. Become attuned to the free information that is all around you.
Sometimes it’s a case of understanding what others have done to resolve an issue and then building on top of that, or using that information to formulate your own solution.
Trying to figure out where to start in a niche can be overwhelming, so much so that often a lot of people stop at this point, (yes, the very beginning) or if they don’t, they tend to cautiously move forward always thinking in the back of their mind that they might have it wrong.
And if you’re new to the affiliate marketing game, then the best place to start is where others have already trodden.
Find niches where other affiliates are making money. Why? Because, they’re profitable otherwise they wouldn’t have spent time, energy and money developing a website to compete in them.
But won’t those niches be more competitive to get into?
The answer is yes, however, you have 1) found a profitable niche, so you can be absolutely sure, that if you get the right visitor to your website, you will make money, and 2) you know what products sell in that niche because other affiliates are promoting it.
Those two things should give you enough insight as to how you could put together your own niche website.
And all that’s really left for you to do, is build the website and develop the traffic that will convert into sales.
Won’t you be better off finding a less competitive niche?
Possibly, but then you might not have the data available to back up your assumptions on profitability, and if you don’t, then you’re flying blind, basically at the point you are right now, guessing as to whether the niche will work or not.
So here’s the website I recommend you start your research – Hubpages.com
Back in the early days of affiliate marketing, one of the easiest ways to make money was to piggy-back off of authority of web2.0 websites like Hubpages and article directories like Ezinearticles.com. The authority in these websites meant that if you found a profitable keyword and product to match, then you could get a page ranked in the search engines pretty fast, which means you’d have a way to get visitors coming to your website while your website is in the process of getting ranked.
Some affiliates were using these websites to make money directly.
Google caught onto what was going on, and as a result made a whole lot of changes that discouraged this type of behavior. They penalized some of these authority websites and as a result the websites had to make changes to get the penalty lifted.
Anyway long story short, what this meant was that, whilst these websites no longer rank in the search engines as readily as they used to, the two pieces of information I mentioned above still remained. Affiliates are still trying to piggy-back off of the authority of these websites, but it’s a losing battle.
Typically what an affiliate would do is perform keyword research to see if they could rank for a profitable keyword phrase, then they would put that keyword phrase in the title of the page so that Google would rank it, and create compelling content to convert the traffic.
What this means for you, is that you can use their research to get a handle on how you could structure your website and even what keyword phrases will be the money makers for you.
So let’s get into the application of this.
I’ll use the wireless headphones website as the example to illustrate how this works.
1) I’ve made the assumption that you’ve already got a list of niche ideas to work with. If you haven’t then read this.
2) Go head on over to Hubpages.com.
3) Type in your niche idea into the search box, and hit search.
4) Look for titles with the phrase “best”, “top”, “review” in them. You could even prefix the search with one of the words if you like.
5) Click on some of the results to see what they’re reviewing and those are the products you could promote as well.
You will find that the majority of the products being promoted are Amazon products. Amazon is an easy company to become an affiliate of, so you shouldn’t have too much trouble there.
6) The title of the hubpage is the keyword phrase that converts with the product. So make a list of all of the hubpage titles, at least on the first page and then go and check out how competitive they are to rank using a keyword tool like Jaaxy or Long Tail Pro.
The keyword shouldn’t be too difficult to rank in the search engines, given these marketers have already done the research for you.
Now what you do, is do one further check and analyze the Google search results.
So to sum up, what we have managed to find is:
1) a profitable keyword phrase and
2) the product that will convert with that keyword phrase.
From there it’s a case of developing the traffic for your website through content creation.
Need more guidance?
Then consider becoming a premium member at Wealthy Affiliate.
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