Finding profitable niches can be difficult. Finding one that isn’t extremely saturated can be intimidating when you’re just starting out as an Internet marketer. The key to finding niches that are both profitable and have little competition is drilling down a top-level niche to find profitable sub-niches with fewer competitors.
For example, let’s say you’re interested in creating a site that has to do with beauty. You can drill the beauty category down into several different sub-categories. You could choose hair care, skin care, fitness, organic beauty, cosmetics, or any number of niches related to beauty.
But these categories are still too broad to be profitable with small numbers of visitors. You need to drill down further. Let’s say you decide to tackle the skin care demographic. Sub-categories of skin care might include eczema, acne, blackheads, wrinkles, age spots, psoriasis, and dry skin.
Now you have a list of smaller niches that you can begin to narrow down. Acne might still be too broad. You can drill down even more by targeting teenage acne, infant acne, and adult acne.
While you want to find niches that are narrow enough for you to dominate, you don’t want to choose niches that have too little traffic available. Don’t be afraid to spy on your competitors.
Go to your favorite search engine, like Google, and search for things like “how to get rid of acne.” This is obviously a niche desperately seeking a solution. If you drill down too much, like targeting “blackheads,” you might find it’s an annoyance, but maybe not something people are desperate enough to spend money solving.
You should verify that your idea gets a decent level of search volume by using a keyword tool like WordTracker or Google Keyword Planner. When you look for the niche on Google, see if there are plenty of AdWords ads on the right sidebar of the screen.
If so, this means people are making money in this niche. Any time you can come up with an original slant on an idea that’s already churning profits online, you’re poised for instant success.
Working in any niche can be more challenging when you don’t like what you’re doing. But when you love what you’re doing, you wake up in the mornings with the energy and the enthusiasm to get to work.
Take a few minutes and consider which niches might fit with your passions.
Look at your existing hobbies. What do you enjoy doing in your spare time? What do you spend your money on?
Taking a moment to consider what you love doing will help you decide which niche is the best fit for you. Or maybe you recently discovered niche you’re passionate about. What do you do then?
Begin reading and researching. Fully immerse yourself in your chosen niche. Sign up for every email list that you can. It pays off in big ways to know the current issues and events in your niche.
Spend time browsing websites – both of experts and amateurs alike. Blogs are a great way to learn about what’s happening in the niche industry you plan to use for your business. Search blog directories for your category by going to a search engine and typing in “blog directories.” Then choose a blog directory and browse it by category.
By now, you probably have a list of potential niches just waiting for you to tap into. If so, it’s time to trim that list. Par it down to your top three. These three should be your main choices – the niches you have the most interest in.
Don’t just go by income level (although you should consider that, too). Just remember when your niche interests you, it shows to your customers and when you’re only in it for the profit you can make, that shows too. Choose a niche that you can earn an income in and gain personal satisfaction from.