Having trouble finding profitable niche markets?
Niche marketing has never been easier thanks to Google’s keyword suggestion tool. Every time you type in the search box on Goole Web Search, Google’s algorithm predicts and displays search queries based on other users’ search activities. You can use this suggest feature to your advantage to discover niche markets.
Google has returned four popular suggestions that people on the Internet are typing in. This is gold! We have potentially discovered several profitable niche markets. ‘Get rid of acne’ Now that’s a very competitive niche, because it’s very profitable. A lot of people make money referring acne creams and natural treatments or alternative acne cures.
We can now research this niche and look for products to promote, study the top ranking sites, build a list of keywords and determine how competitive the niche is with a niche research tool like Market Samurai
You can repeat this process and just go through the alphabet and see what suggestions Google offers and build a list of potential niches to research
So what we wanna do is we basically go through the alphabet using this problem phrase. So if we use letter B, we’ve got ‘belly fat’ , ‘black heads’.
Get Rid Of
So I’m sure you’re getting an idea that we targeting really specific health problems here, and they are usually very good niches.
What you can do is you can build a list of niches. And then later on you can research them. You can see if there is any advertisers or any people referring products with affiliate sites and build up a list.
You can also use different words. The word ‘cure’ for example, and see what we get. So we got ‘cure sore throat’, or ‘yeast infection’, ‘bad breath’, ‘constipation’.
Then if we go down to bottom of the page we can see more suggestions. So ‘eliminate lower belly fat’, ‘eliminate belly fat naturally, ‘eliminate belly fat fast’.
Download the mind map – Finding Niche Markets
There were two traps I fell into when I first started trying to make money online – not doing sufficient market research and not doing sufficient competitor research. After a few failures I got it through my think head how important it was to do lots of niche and keyword research before buying a domain name and putting up a WordPress site. However, it took several more failures before I realized and understood the importance of competitor research.
Making money online really comes down to two things – traffic and conversions. If you can’t beat your competitors in ranking, you won’t get a sufficient amount of traffic. And without a sufficient amount of traffic you won’t be able to test offers, track results and improve conversions.
You must take the time investigate the strength of your competitors once you have identified a profitable niche market. The temptation to get started quickly is hard to resist with the excitement you feel when you have found a niche that looks like it can make you money, but you have got to find out who you are up against and if you have the resources to beat them.
My favorite piece of software, Market Samurai, now makes competitor research very easy with their SEO module. What used to take many hours of tedious work using a number of tools now can be determined in a number of seconds.
Look at the screen shot below. Recently, I have been looking into the natural health niche. While I wouldn’t target the keyword “natural health” for a number of reasons, Market Samurai can tell me at a glance what I am up against if I wanted to try and rank for that keyword. You’ll notice a lot of red – this means a high level of competition. So I would stay away from this word.
If we look at the keyword “JLPT” , an acronym for Japanese Language Proficiency Test, a sub-niche in the Japanese Language niche you can see quite a bit of red, but a lower level of competition. I managed to get top page ranking for site of mine called JapaneseProficiencyPower.com (highlighted). I sell a test guide on how to pass the Japanese Language Proficiency Test. JLPT gets 110,000 phrase match searched a month, some of which ends up on my site. As you can see my site has only 6 indexed pages, but I have had it rank on the top page of Google for a two years thanks to the help of Market Samurai.
Take a look at this video of Anthony who gives a tour of the Market Samurai SEO Competition module. He walks you through how Market Samurai gives you an easy but incredibly powerful way to assess the level of competition in any particular niche.
When coaching people new to Internet marketing the problems or complaints I hear most are something along the lines of ”I don’t know what niche to choose” or “I can’t find a niche”. These statements are like warning bells ringing in my ears. It indicates to me that these people won’t succeed online because they don’t realzie the importance of niche market research. Also, they don’t understand that niches are discovered through a process of reseacrh and testing.
So, how do you find a niche market? Well, first you must understand that you don’t choose a niche. You discover them or uncover them. Finding a profitableniche is a process that requires reseach and an understanding of what motivates people purchase something online. It is actually an easy and uncomplicated process. The thing is most people don’t like to do it becasue it is time consumming and a tad on the boring side. When people are motivated or excited by the prospect of making money online, they want to jump right in and get started on building a website or creating a product. They end up not doing the most important part of the process……..due deligence.
Getting started on uncovering a niche is pretty easy. The first step is to brainstorm! Brainstorm problems or needs you have or have had in the past. If you have read my post on profitable niches you’ll know that people are motivated by pain or irrational desire. Think about your own life exeprience and the problems you have paid to have sloved. Then think about family members or friends who have problems.
One activity I use and share with my private students involves the Seven Deadly Sins. They make the perfect categories for niche ideas. I get my students to list problems, desires and products related to each dealy sin.
Wrath – Anger managment, stress management,
Greed – Making money online, Forex trading
Sloth – Gaming, satellite TV
Pride – Penis enlargement, grow taller
Lust – Dating, sexual performance
Envy -Career, love, money
Gluttony – Weight loss, diet pills
If you are really struggling to find a niche stop and take a look at what is already selling. There are many market places where you can find out what products are popular and making people money. Check out ebay pulse and the clickbank market place. Also, certain affiliate network sites such as www.moreniche.com will tell you what niches and products make affiliates thousands of dollars every year.
Once you think you have uncovered a niche you need to validate that niche. You need to find absolute proof that you can make money in that niche. The easiest way to do this is to see if other people are already making money in the niche you have uncovered. You just Google a number of keywords related to your niche market and see how many advertisers on on Google or Bing.
If you a find a few pages of advertisers then you know you are on to something. If you find no Google ads for your keywords then can safely assume that there is no money in that niche. The next step is too see what these advertisors are selling. Visit these advertisor’s sites and see what they are selling. If you find several advertisor’s selling information products or products you could be an affiliate of then you know there is a market.
The next step is to study what your newly found and already established competitors are doing. If they offer a newsletter get on it. Analysie their site and work out what keywords they are targeting. Look ate the call to actions on their site. Find out how well they rank organically on Google. The niche keyword tool Market Samurai can help you do this.
It is important that you document everything so can update your findingd and refer to it
Once you have discovered what looks to be a profitable niche you then need to work out how competative that niche is. It is important that you don’t see competition as a bad thing. It is quite the opposite. Competition is a good thing. With competition is assurance that you can make money and the opportunity to joint venture with your competitors.
However, you need to establish if there is room for you in your target and what the level of competition. Strong competition will require more resources, time and money. You need to budget and plan to beat your competition. Ambition alone won’t do it. I do all my compeative analysis with Market Samurai.
Market Samurai can tell you the rank of your competor sites, analize their on-page factors and tell you the number and quality of their backlinks. This information is vital as it will indicate how easy or how hard it will be to outrank and beat your competitors.
Niche marketing is rather a confusing term. If you have been learning some Internet marketing strategies you have probably come across terms like “crave out a niche” or “micro niche” and so on. Most people don’t know that you really discover a niche rather than choose one to crave out. Rather than give you a niche marketing definition I will show you some niche marketing examples to help you understand what niche marketing is all about.
The best niches to market in are ones commonly referred to as “distressed niches”. Embarrassing health problems are what this niche is all about. A great example is the acne niche. Those yucky puss-filled pimples cause a lot of embarrassment and distress. Some people will go to the extreme to hide or cure their acne. There are many products being promoted online . It is very easy to sell in this niche because in most causes your target customer is looking to buy a solution. You don’t need to educate them or convenience them to but. You just need to make the right offer. The pain of having acne motivates them to buy.
These kind of niches are popular with affiliate marketers who usually create product review websites. They make money from commissions every time they refer someone to a merchant’s website who buys. Some affiliate marketers will build a website to exclusively promote just one product.
The Irrational Passion Niche
Do you know someone who is crazy about a hobby, pastime or sport? And I mean really crazy. Crazy to the point it consumes most of their free time. My brother is keen cyclist. He rides everyday, went to Samoa for bike riding holiday recently, dreams of riding the Tour de France, hangs on every tweet from Lance Armstrong and spends heaps of money on bike gear, those expensive lycra riding outfits, DVDs, books and magazines.
His passion for riding borders on being irrational. He spends a lot of money on bike gear he already has. He enjoys the experience of getting new bike stuff and using it. The two bikes he owns cost more than you average family car and still he wants more. If I owned I a bike shop I would be making a few hundred dollars a month from him alone. Yet, there are people more passionate about their hobbies and interest than my brother.
This niche is great if your own hobby or pastime has thousands of irrationally passionate fans. You can create you own products, promote other products, blog about your hobby and build a list you can sell to over and over again. Examples of hugely successful niches are dog training and golf. What’s your hobby?
The Information Niche
Where is the first place you would go to find information about a personal legal matter? If you wanted to find out about university grants or home loans where would you seek answers to your questions? The Internet, right? In this niche people are looking for specific advice or answers, but without the intention of buying something. The questions people search online for are usually one they can’t ask family or friends because they are of a personal matter.
So, how do you make money from this niche? With AdSense contextual advertising. AdSense is Google’s affiliate advertising program . You have probably clicked on several hundreds of Google adds while searching for information online. Advertisers will pay anything from a few cents up to $10 a click. You can earn 70% to 80% of each click as an affiliate. If you build a quality content rich site and rank it high in the search engines then AdSense is a great way to generate a passive income. I love making money in AdSense niches. I outsource all the content creation, build the site on WordPress and just work on SEO and ad placements.
One key learning I hope you takeaway from reading this post about niche examples is that not all niches are equal. Some niches will only make you a few dollars a month while others can earn you thousands of dollars a month. The money is in the well researched niche. Research is where you’ll make your money. Without it you’ll most likely market in a dead niche and make very little money.
The domain name you choose for your website is very important. It is one of the first decisions you’ll make about your online business, and it will be the name your customers associate with your website, business and products or services. The name you eventually choose and register will depend on the type of site you wish to create.
With niche sites the idea is to choose a name that is or contains your most import keyword – a keyword that people search that is not too competitive. Ideally, you want to get an exact match domain. For example, one of my sites targets the Japanese language niche. My target keyword for the site was “Speak Japanese Fluently”. Luckily, I was able to get SpeakJapaneseFluently.com. This is an exact match domain name. On this site I sell an intermediate Japanese language learning program which I decided to name “Speak Japanese Fluently” as well. So I branded both my site and product with a relevant keyword phrase. Currently, my site ranks number 1 on Google for the keyword phrase “Speak Japanese Fluently”. As you have probably guessed having a keyword as a domain name will help with the ranking on Google of your site for that keyword.
Unfortunately, in most cases you will find that exact match keyword .com domains are very difficult to come by. If you find that the .com of your keyword is taken, see if .org or .net are available. Other than these three, .com, .org and .net, I wouldn’t use any other domain name suffixes.
If you can’t find an exact match domain name with .com, .org or .net then there are a number of things you can consider. You could add a modifier such as a letter. For example, if SpeakJapaneseFluently.com had been taken I could have choosen something like ispeakjapanesefluently.com or speakJapanesefluentlyx.com. It is important to note that while an exact match domain name with a modifier is search engine friendly it won’t always be user/visitor friendly. Remember, you are building your website and business for people, so you should find a balance between the SEO benefit of a keyword or keyword phrase in the domain and how people will interpret the domain name. Instead of a modifier, I recommend you add a relevant word to the domain name
For example this site’s main target keyword is niche marketing. I was unable to get this as a domain name. So I decided on “PrimeNicheMarketing.com” As this site is about helping people find one lucrative niche I feel the domain make sense and appeals to visitors as well as having some SEO value
If you are wanting to build a large site or a blog then you need to be a lttile more creative, but still include your target keyword. Your domain name should really spell out what your site, blog or business is about, but also be unique to make it easy to remember.
Here are some great domain names that are easy to remember:
http://www.problogger.net – a site about blogging by a professional blogger.
http://www.zenhabits.net – a blog about about finding simplicity in the daily chaos of life.
http://www.searchengineguide.com – Latest news and tips on SEO