How to Choose a Profitable Niche Market for Your Website
You want to start a new website, but then you face a common problem. Which niche to choose?
The answer is not as simple as it seems. I’ll teach you some special tips that will guide you in your next search.
I have reviewed several Internet Marketing and SEO forums and noticed that the same question appears often.
Many ask how to find a good niche, but they don’t know exactly what a niche market really means.
Not a micro niche and not a whole market
By the time you start a business to increase your income online, you must know first what a niche market is.
I can simply tell you that a market is some buyers interested in a particular product or service. For example there are markets of video games, movies, make money or the health market. But as you can see this are too broad markets.
Instead, a niche is just a part of the entire market. You discover the niche when you filter the audience to certain interests in common in that industry.
And this is where we can segment the niche further to something very specific creating a micro niche.
I’ll show an example of niche markets using shoes:
And the same example but with video games:
Some years ago it was common practice to create micro niche sites to make money through Adsense.
Then a site like womenrunningshoes.com was created.
Segmenting as far as possible the niche market to get to a micro niche. This types of sites usually contain very poor content articles with not much value to the audience.
This was all done with the hope of being indexed and to climb positions in Google. Unfortunately, this practice doesn’t work as well as before.
Today the Internet search engines such as Google have become smarter and prefer your site to be useful, with extensive content. This will create value that will transcend the passage of time.
If this is the first time you make a site I don’t recommend a full market to begin. Since you would need a wide range of articles, writers, dedicated editor and a daily frequency to cover an entire industry completely.
It’s better to start with a niche market. So you can go to a particular audience and to cover in depth the issues related to that particular niche.
For any online venture, I recommend you to make a blog. You can use content marketing to your advantage. Creating high-quality articles and publish frequently to gain traction.
Know Your Audience
If you don’t know your audience it will be very difficult to understand how you communicate with them.
You must ask yourself:
- What sites your audience go to?
- What do they like to do?
- What are they looking for on the internet?
- What could you offer to improve their experience?
- What products do they buy?
It’s extremely important to reach the audience of your niche market more directly. This will help you make money online more efficiently and quickly. You will gain nothing if you collect 1000 emails from people that like cats if your niche is about dogs.
With NeatBlog, I speak to entrepreneurs who want to grow their business using internet marketing. From there I will choose topics like SEO, Email Marketing, Blogging to help you in your journey.
Now I don’t touch other topics such as “how to get a loan for a car” because it’s not related to my site.
Everything I do in this site is linked to helping you increase your income while being an entrepreneur. If I start to write about situations outside the Internet I would be leaving my subject and thus reaching a completely different audience.
You must also know how to differentiate different markets. You can’t talk the same way to people that are happy with their work to others that want to start their own business and get rid of the 9-5 job.
The language, topics and the way people communicate will be different.
Knowing and understanding your audience is essential so you can sell your products and increase your income.
But, what niche is the best?
You may be wondering what is the best niche to engage on the internet. From my experience, I can tell you that so far I have not found the magic niche. Because it doesn’t exist.
There are good markets that persist over time like health, money, sports, food, clothing and entertainment. And within these markets there are niches that hardly will disappear soon.
Additionally they are profitable because they have been validated previously. Of course, they also have much competition. Specially niches like the diet and weight loss. That niche has been exploited since the beginning of the internet.
Here are some recommendations that will serve you in your quest for the best niche:
- There should be enough audience to make money.
- It’s better if you have extensive knowledge of the subject.
- You have to feel comfortable working in that niche.
- It is a good sign if other people are making money in that niche.
Also don’t worry about not getting a niche because they are all taken. This will be very unlikely to happen unless mankind disappears completely.
You will always have new markets and niches to work with. New audiences are created every day. Just take some time to think and consider whether there was a market for Android applications 8 years.
Ways to monetize your niche market
If you want a business with a future is essential that you are clear about how to make money with your website. The preliminary investigation of other cases related to your chosen niche market is essential. It will serve as a filter to know what worked, and what you could improve.
You can make money online in many ways like advertising, affiliate marketing, monthly memberships or selling digital products.
You will have part of the battle won if you manage to create a good product (or service). That can solve a problem for your audience in your niche market.
Put yourself in the shoes of your chosen niche consumer and think the ways they prefer to consume content from a website. It could be videos, texts, images, audio or something completely new. Also, investigate if they are willing to pay for a special product or service that this site offers.
The best way to put yourself in the shoes of your audience is to ask them. Make a quick survey to learn more of your target group. So you will not leave stuff to a mere speculation.
Also when you review similar sites that are already successful, you will have a clearer business idea to increase your income.
If you have great knowledge on a topic you could charge a value for a digital course. Or even better do a monthly membership site where you give added value with exclusive forums, monthly webinars and a range of courses that your audience needs.
While you gain more experience you’ll develop the ability to distinguish different market niches and find new ways to be more profitable.
One important thing you can do is create a community around your niche market. It’s good to build a list of potential customers, regardless of the form of how you will earn money.
Give more value to your audience than the competition
We are more than seven billion people in the world. And of that number 40% have Internet access, making the active Internet population a large number.
This has its advantages and disadvantages. The disadvantage is that more and more niches are being covered by more people, creating more competition. But seeing the positive side each year greatly increases the number of people with Internet access, and this increases the number of visitors to your niche.
Consider now a business idea directed at a niche. Most likely there is already a related website. In fact, I invite you to do the test right now with a quick search on your favorite search engine. Weight Loss? Movies? Running shoes? Surely there is already a blog with articles for each of these niches.
However this doesn’t mean that if there is already a blog for an audience of movie lovers, you can’t start an online business dedicated to them.
There are many products and services that can be created for a niche market including blogs, websites with exclusive content based on monthly memberships, mobile applications, virtual stores and other ideas that you can think right now.
If you want to make a website with courses on how to make professional presentations first check who is your competition. Check if there are similar sites, you can start with a simple search on Google with the keywords “professional presentation courses.”
Write all the results of potential competitors on a spreadsheet with names, web address, the service offered (eBook, video tutorial, mentoring and coaching, forums), the form of monetization and the value of it.
To have a broader spectrum of other websites that could be your competition enter Twitter and make another search with keywords related to your niche.
You will get some results, wrote them down in the above spreadsheet above.
Now that you have found that competition already exist, it would be good to try them and discover how yours could be better.
Temporary market niches
Although there is no bad niche, there are some temporary ones. These change according to the time of year where they can have different traffic spikes.
Think of all those niches that you talk about but only for a period of time like Christmas, Mother’s Day, the Champions League in football, the Olympics.
Christmas certainly can bring you many sales per se, but have to be aware that only happens once a year. You will have high traffic just in the months of November and its peak in December. After New Year, it will decrease gradually to return to the cycle again next year.
I once performed a site that offered video game deals. For this site, I opened a Twitter account to share every new offer. Over the months, I noticed that they had very high sales peaks coinciding with the months of November and December due to Black Friday and Christmas days.
And everything depends on the type of niche that you are working. Also, I have a news site for video games. Unlike the deals site, this one remains stable throughout the year having a peak in the month of June because that month it’s the E3. Which is the most important video game news event of the year.
Remember then that the active time of your chosen niche will be related to the time in the year it is popular.
Pick a niche and take it to the stars
What do you like to do? What topics have you more knowledge? Sometimes we choose a niche market because we think that is what would give us more money. Since someone else is already doing a lot of money in the same niche.
Unfortunately if you start working in something without the knowledge and copy what others are currently doing, you will get nowhere.
It’s a hundred times better to choose a niche that you can execute better and feel more comfortable. Create something original, which you know a lot. Make unique and valuable content for your audience so they become fascinated with your site.
It’s ideal that you create websites that offer additional value to the audience. It will be essential that you are able to add that value.
Links And Resources Found On This Article
Bluehost – Affordable and easy to install WordPress hosting.
Tell me in the comments what niches do you want to work and how you will add value to it.