One of the hardest things bloggers have to do is pick a profitable niche to blog on. This choice can make or break your efforts to make money online, and far too many bloggers make the often fatal mistake of leaping into the weight loss or make money online niches to name a few.
Because many people feel they can easily make a lot of money from these niches due to their high traffic. Right?
You know why?
These niches are the hardest niches for a new blogger to make money in. The competition is getting tougher, the buyers even probably know the stuff than you do and you can quickly find your resources and motivation drained as you lay on the verge of giving up.
Whilst these niches look like a money pumping machine, there are other niches that will not take you forever to make a penny and dime from. however, if you are determined to go into either of these niches, then do so when you are established and have learned the ropes. You will be in a much better position to tackle the ups and downs.
Many bloggers or internet marketers may tell you to start a blog in a niche that you are interested in, i.e. something you are a fan of or passionate about. This can be a good idea because it is much easier for you to be motivated by something you have an interest in. It allows you to focus on the Internet marketing and not have to learn about a niche as well.
However, there are some cases where a niche just isn’t profitable. There are some hobbies and interests which do not lend themselves to marketing.
Let me give you an example below:
Martial arts tend to be one where people will buy an occasional DVD or book, but that is about it. Compare this to a baseball fan who will buy almost anything to do with his or her team!
Tips to Help You Choose a Great Niche Market
Earning money online has become a trend, and more and more people have quit their day jobs so they can focus on their new moneymaking endeavor.
You’ve probably read several stories on the web about how ordinary people have turned into millionaires in just a short time. It’s good to be able to follow in their footsteps but how exactly does a person earn a fortune online? The answer: find the right niche market.
Niche Market Overview
First things first…what is a niche market? Unless you have been hiding in a cave somewhere for the last ten years then for sure, you have heard about the term, “niche market” before. Essentially, it is a business model that covers a specific topic. Say, a small market that addresses that needs of a specific group of people. One good example of the market would be cars. It is an overwhelmingly huge market, and there are dozens of auto companies selling many different car types and models in the US alone. But there are people who are only looking for SUVs, and if you create a blog about SUVs then you are likely to get more buyers than if you built a blog about cars in general.
6 Tips to Keep in Mind When Choosing a Niche Market
Now that you already have an idea of what a niche market is and why it is better to tap one, the next step is for you to find a great niche market. Many people would probably tell you to choose a niche that you are passionate about, one that you are very familiar with, but while this may work for some people, it will not work for everyone. This is especially true now that a lot of niche markets are quite saturated, and the big players make it extremely difficult for newbies to earn a decent income from their sites.
So, without keeping you in suspense any longer, here are some invaluable tips that you ought to follow if you want to succeed in the niche market:
Tip #1: Find a niche market that will enable you to target many different keywords.
This means that the niche should have many topics that you can write articles on. The more keywords that it has, the more traffic you will get. Additionally, the more keywords you have, the more likely you will be able to build an authority site for your niche and Google loves authority sites.
Tip #2: Choose an evergreen niche.
There are many “trending” niches that you can choose from and while it will be easier to get lots of traffic from them, they are not good long-term options. If you want to build an online business that will earn you money for many years, go for an evergreen niche.
Tip #3: Pick out a profitable niche.
There are many unique niches out there, and if you can find one that has very little to no competition then you’re lucky. But before you spend all your money creating a website for this niche, do your homework and find out if there’s a fortune to be made from it. If the competition is low and there’s a high demand for this particular niche, then you’ve found yourself a gold mine.
Tip #4: Don’t be afraid to celebrate uniqueness.
When it comes to niche marketing, uniqueness is something to be celebrated, instead of being feared. Normal marketing strategies look at the market and try to find the things that these subgroups have in common. They seed out the commonalities and try to form strategies based on these. This is why you have a TV commercial or a promo that can be blasted to a large audience.
These marketing materials were crafted based on the common needs and desires of a particular target group. With niche marketing, uniqueness is celebrated, and the more defined a certain subgroup is, the better.
Tip #5: Speak their language.
It starts with not being afraid to speak to a certain niche market, but speaking to that market effectively is another story altogether. If you want to succeed in your strategies as a niche blogger, you have to know how to understand your target audience best. You have to find out how they communicate and react to certain things, and you have to speak the same language that they speak. Even if you’ve already targeted the right niche market, if you don’t communicate the way that they do, it will be very hard for you to reach out to them.
For a niche marketing strategy to be effective, you have to be armed not only with the right message but also with the right way of sharing that message.
Tip #6: Constantly innovate.
Say you’ve managed to get the right tone of voice in the way you communicate to a particular niche. It doesn’t end there. Marketing exists to drive goodwill, as much as profits, so you have to ensure that your marketing strategies are sustainable. This means you have to recognize that yes, your strategy may be applicable at the moment, but the world changes ever so rapidly and you have to constantly innovate in order to keep your consumers interested. Innovation is the key to sustainability, and even when you’re targeting a specific niche market, this is just as applicable.
Finding Your Profitable Niche: What You Need to Know
Niche blogging is a business model that focuses on a specific market. But just because it is smaller in size does not mean it is going to be very easy for you to earn money online. On the contrary, this type of business model is quite complex and it would require a lot of time and effort on your part, for it to be effective. But if you know how to make it work, you could stand to earn tens of thousands of dollars every month or more.
Before you start researching about the best strategies to implement, it is important that you know the basics. You need to know how you can get started with niche marketing so you will have a solid foundation for your Internet business.
Step 1: Find a great niche. This is perhaps the single most important thing you need to do. If you don’t have a great niche then your chances of fulfilling your goal will be very slim. Conduct sufficient research on many different niches, and choose one that gets a lot of monthly searches but with very little competition.
Step 2: Build a blog for your niche. It does not have to be fancy, and if you don’t have a lot of money to spend on premium themes or to hire someone to design a custom site, then you can start with a free theme. A simple blogging platform like WordPress has a lot of free themes.
Step 3: Post interesting and informative contents on your blog. Content is what will drive people to your blog so make sure you do a great job at it. If you don’t have a knack for writing articles, you can always outsource it.
Step 4: Decide on how you want to monetize your site. If you opt for affiliate marketing, then choose products from Amazon, Clickbank, Commission Junction, and others that match your niche and have high marketability. Pay-per-click is also a good way to earn money in a niche market, and Adsense is an excellent choice for newbie bloggers.
Step 5: Work on search engine optimization. Participate in white hat SEO techniques such as guest blogging and article marketing so you can get backlinks to your site. Aside from this, work on your keyword campaign and make sure your website is properly optimized, too. There are many SEO techniques that work. The key here is to find the techniques that work for you, and once you have found them, “rinse and repeat.”
Step 6: Promote your blog through Twitter, Facebook, StumbleUpon, and other social media platforms. These social networks can drive massive traffic to your site.
Top 5 Most Profitable Niches
There are so many possible niches you could choose from and as a newbie, you might be overwhelmed with all the choices available. Getting an idea on which markets are very lucrative can give you a head start in your new endeavor.
Here are the top five most profitable markets right now:
- Insurance – The insurance niche is the most profitable today; there is a high demand for insurance products, and insurance companies would pay top dollar for every single click.
- Attorney/Lawyer – Attorneys offering their services online face a very stiff competition and in order to bring in more clients, they invest a lot of money in advertising. They are willing to pay $50 or more just for a click.
- Finance (Debt, how to Make Money, Frugal Living, Investing etc.) – Many people go to the Internet to apply for loans or get information on how to get out of debt. This market is huge, and tapping a segment of it (loan, debt help, mortgage, etc.) is an excellent idea.
- Employment – Everyday, countless people go online to search for jobs. If you have a website that can help people find employment, then you are off to a great start.
- Relationships – (Sex, Love, Family, Marriage, etc.) – One of the most important aspect of people’s lives are the relationships they keep, and a niche on dating, marriage, or family is certainly very profitable considering the money people are willing to spend to make their relationships work.
How to Succeed in Niche Blogging
There are young people who have become Internet millionaires even before reaching the age of 30, and anybody who has made the decision to earn money online would certainly like to know what these guys did to become so filthy rich.
Due to the vastness of the Internet, there are so many ways for people to earn a decent income from it. You can build a website (or websites) to sell a product or service, or monetize it through affiliate marketing, Adsense, lead generation, or even by selling advertising space. Once you have plenty of traffic going into your site, then you could very well start earning money from it.
If you want to become a successful blogger, it is best to focus your time and effort on a specific market. Studies after studies have proved that niche marketing produces better results and is less costly compared to mass marketing.
Think of it this way…
If a customer were to buy a Gibson guitar, and he had to choose between a store that sells all kinds of electric guitars and another store that sells only Gibson guitars, then he will most likely go to the latter because it offers exactly what he is looking for.
Undoubtedly, niche blogging has become one of the hottest money-making ideas today. But the thing is, becoming successful in niche blogging takes more than just realizing how effective it can be. Most of us know there’s a fortune up for grab in this kind of market but the reason why most people never succeed in it is because they don’t know the first and most crucial step in niche blogging and that is—choosing the right market.
If you want to know how you can succeed in niche blogging, here are some strategies that you can follow:
1. Find the right niche. The key is to be able to choose a topic based on any or all of the following requirements:
- It should not have too many competing sites.
- It should be something you know or care about.
- It should have a good monetizing potential.
2. Once you have chosen your niche, exert effort in knowing what the market’s needs are. Find out what your potential customers are looking for, and meet their needs accordingly.
3. Strive to continuously improve. Testing your niche market will prove to be an invaluable strategy that will win you lots and lots of customers in the long run. Study your competitors’ websites and the strategies they use to win customers. Compare them to your own marketing efforts and make the necessary changes so you can stand out.
The point is;
A profitable niche market research is one of the most important parts of starting a blog. Too many people skip over this step or pick a niche without researching it properly and then they struggle to get it ranking and making money.
If you take the time now to do your niche research then you will find it much easier to get your blog ranking and earning.
Spend the time up front to research your niches properly and you will find that SEO becomes much easier. When proper niche market research is done, you will not only know what keywords to target so that you can get ranking and earning easily, but you will also know what your niche wants.
Congratulations – you’ve made it this far! And I knew it!
Take your time to go over each section again. Start working your way through the niche market research process and start applying what you have learnt.