By harmen batubara
In marketing, one of the most important steps you can take is to segment your audience. If you can divide them by their interests, then you can craft a message that’s perfectly targeted at the group you want to pursue. It makes it much, much easier to grab their attention. The key to profitability is making sure (in advance) that the product or service you offer is what your market wants. Not only should they want it, they need to have the ability to pay for it.
While there are numerous lucrative markets with plenty of room to play, the key to profitability is identifying the right niche to market your products or services to. You see, of the biggest mistakes in marketing is considering “everyone” as your target demographic. Marketing to “everyone” is extremely difficult, chances are, if this is your approach, your product or service will likely be appealing to “no one”.
These are deep, penetrating questions and you may not have all the answers – yet. That’s why you should also consider your passion, hobbies, interests, talents, strengths and your professional experience. They will lead you to your sweet spot or a subject you are drawn to, have an affinity with or natural aptitude for.
There are literally thousands of niches out there, but not all of them are profitable. So how do you choose the right one for you, especially one that you are passionate about?
If you want to make money through your online business, rather than running an expensive hobby then it’s critical that you choose a profitable niche market. Remember. There are literally thousands of niches out there, but not all of them are profitable. So how do you choose the right one for you, especially one that you are passionate about?
The simple answer is to start with these 2 questions: Are there enough people with this problem? And will they pay for the solution? In other words, you need to be sure the market is small enough so you can shine but big enough to give you a return on investment. Too many people get carried away creating a fantastic product without checking if there is sufficient demand for what they have created. They also don’t consider if their specific audience is willing and able to pay for that product or service.
Even if you have a good feeling that the answer to the two questions above is a resounding yes, it’s worth backing up your hunch with some science and hard data.
Here are 3 ways to Choose out if your niche is profitable or not.
You need to see what is going on in the market you are passionate about, check if it’s big enough and there is enough demand. I recommend utilizing these 3 resources.
Research Keywords In Your Niche
The first thing you need to do is find out which keywords your audience is using when they search for information related to your chosen niche market. These words and phrases along with the number of times the terms get searched each month (monthly search volume) and the level of competition can help you understand the problems your audience is facing and the profit potential of your niche. Google provided an excellent free keyword tool that let you glean much of this data at a glance. Unfortunately it was replaced by the Keyword Planner, which is not as good but still has its uses.
Google Your Competition
If you want to find out if your niche is profitable, then you must make Google your best friend. Pop your keyword or topic into Google search and look at who or what comes up :
Are there any established brands or players in your niche? Who are they?
Do they have a website? What does it look like (colors, tone, language)
What are they selling?
Who are they serving?
How much are they charging?
Are there conferences or events around this niche?
Are there any industry publications or magazines?
Such research will tell you if you have a potentially profitable niche and the competition you are up against. Many people are afraid when they see competition but this can actually be a good sign because it signals: There is already a demand for the kinds of products and services you may be thinking about; and if your competitors are successfully marketing to the people you want to reach then your audience has the ability to pay for these products and services.
Check Bestsellers on Amazon
Amazon is also a very useful starting point, especially the Bestsellers section in the Books and Kindle section. Don’t just scan the list, look at the sub-categories and book titles and think about the kinds of problems they are solving. This will give you an insight into the pain points your audience is facing as well as ideas of sub-niches you can target. If we take the weight loss example again, you can see that many of the books in this category offer recipes, specific diet plans as well as motivational tips to help people lose weight.
Check Clickbank Marketplace
Make Sure It’s Profitable. So you have established what people want and need but you still need to make sure it’s possible to make some money in that niche. A good place to research this in is the Clickbank Marketplace. Just search those niches you’ve come up with and sort them in order of popularity. The magic number to look at is under “gravity”. I would recommend you look for products with a gravity of 10 or more. In essence, the higher the gravity, the more the product sells. If your niche is for example “list building”, you would search for list building products with a gravity of higher than This allows you to quickly establish that there are products that are selling in that niche.
This is pretty much all I did when I chose what niche my first product will be and I found it simplified the process and gave me something real to go on rather than just guessing what might be useful. So now for your thoughts! How did you choose your niche?
How did you find it? Feel free to add your own tips as well!
Taking the time to determine whether your chosen niche has enough demand and whether people will pay for a solution will save you a lot of heartache later on. Most people don’t do this but I’d urge you not to follow the crowd. I recommend you keep an eye out for companies that provide products and services in the areas you’ve identified a passion in and take notes about their strategies.
Look at what kind of solutions they offer, who they seem to be targeting and how they position their products. Doing this kind of “homework” will give you the best chance of launching a business in a profitable niche that is aligned with your passions, interests and expertise. When it comes to building a profitable business, the sky is the limit. Your job is to identify your passion and connect that to a group of people you are passionate about serving and who are equally eager to pay for the value you offer.
In my friend’s case, he only wants to target fighters. He has no desire whatsoever to become just another reporter on the individual events. The purpose of starting the blog is to build his authority as a mixed martial arts expert and eventually make a living from training fighters. Obviously, he should focus on the “MMA” keyword set. All of the keywords within that category are distinctly related to his audience. Not only does the data allow him to narrow his focus down to a specific niche, but it shows him which topics to write about, as well as several ways to make money.
Want to find out how? Keep reading, and I’ll show you how to turn your keyword research into traffic and a long-term revenue stream. For More Info Go Here.