How To Use Niche Marketing To Make Money
What Is Niche Marketing?
Look around you right now…You see people that have interests of all types, such as sewing, travelling, knitting, cycling, online marketing, etc. These people that have a common interest collectively are known as niches. Taken together, you have many thousands of such groups and collectively, they are known as ‘niche markets’.
Your personal interest are likely different from your family and from friends interests, and if you pay attention a bit on these others around you it does not take long to realize that your hobbies and interests as well as theirs are actually niches.
What you are going to do with niche marketing is that, using an online business you build yourself, you will give people opportunities to learn from you, discuss with you, and buy from you things that are related to these niches. Of course, you cannot cover then all. You have to decide which are the best for you to focus on and then build your business around them.
As you create a presence online, and add useful, relevant, and educational or entertaining content to your presence (i.e. a website and social accounts) you will be able to start promoting products and getting paid for this when people in the niche buy through your affiliate links.
This business is a viable way to make a great living online and it also has great benefits such as less time working, working from hiome, working when you want, etc. That is why more and more people are starting to create their own online business.
You can enter this business for very little money. In fact compared to a brick and mortar operation, it is laughable what you will pay. Unfortunately, although it sounds easy and you may have seen all kinds of get rich quick schemes on the internet, it is not quite THAT easy! Many try and fail because they are not taught the correct way to get started and then operate such a business. They enter the market but instead of getting profits they failed and leave the dreams of easy income behind.
This is why to know what niche marketing reallyu consists of and learning how to properly plan and conduct business when niche marketing is so important. You have to focus on a specific portion of a niche or the area will be too broad for you to do a good job of covering the niche. So we can further say that niche marketing is creating and focusing your online marketing efforts on a little yet specific and well-defined segment of the population.
When you choose the right niche market, it will help you to realize a lot more success and really the sky IS the limit, as you can enter into more than one such sub-niche and have success. By starting with selecting a niche that has potential, and is specific enough, you will be on the right foot going forward.
Remember that although some people will say that all niches are profitable, it is not true at all. Not all niches are the same nor profitable.
If you want to succeed online, do you part and do your homework. Identify what is profitable sub-niche. The profitable sub-niche for you is the one which you have interest and passion and can make you stand out and distinct among your competitors.
Build an expertise of the niche by gaining detailed knowledge of your niche subject. You don’t need to start the business right off the bat. Take your time and when the right time has come when you know the niche you will already have a competitive edge over others and you will find you can quickly build trust and become a lead authority.
To start with niche selection, don’t look any further than your hobbies and interests. These can be the best online niche markets for you because niches are what you are involved in, enjoy, and consume.
Ask yourself the following questions while looking for a niche:
-What are my hobbies and interests?
-What are some of my life experiences and achievements?
-What problems big or small have I solved in life?
It’s possible to earn money from every single niche, but sometimes it’s easier to make money in one niche than in another.
Making Money From Niche Market
Here are some more tips for you:
1. Finding a Profitable Niche
Pick a market that is the right size and profitable. It is important that you find a market that has people who are willing to spend money for the available products or services that may be offered within it.
Brainstorm a list of potential niches
Discover the search volume and find out if there are enough people searching for this niche.
Know who is your competition and if there are advertisers actively promoting this niche – that is a good sign. Competition is good. It means that there is money to be made in that niche.
See what existing affiliate products out there. Are there enough and is there enough profit to make the effort worth your while?
Do this research on all the niches and cull the ones that are not going to be profitable, As an example , you can use Dummies.com as it is a great place to search for great niches. Check how many books there are in the given category. They will give you ideas of existing niches.
You can also use Amazon to find potential niches. You can find there millions of products. maybe you want to sell digital or physical products and Amazon is a good place for both. It is literally one of the biggest markets around the globe and you can get a lot of valuable information. There are tens of thousands of categories to check on that platform.
Scan through the categories and see if there is anything that interests you. Check out the best-seller list. Don’t forget that anything can be a niche. Be open as you go through the site, and see what catches your eye.
Here are some more places that you should go to find potential niches:
Ezine Articles – the most popular article directory on the web, great place for ideas. Pick a category, anything that grabs your attention. Write it down and check it later.
Go to magazines.com
Go to weddles.com/associations
Go to dmoz.org
2. Find Out What The Search Volumes Are
When you have found a niche that will work, the next step is to find out if your chosen niche is profitable or not so you can see if it is worth your time and effort to enter that niche.
After that, you will want to know just how many many people are searching for the given information.
Use a keyword search tool to learn about the size of the market. You can create an account for free on many keyword search sites and do some searches without any cost..
Google Keyword Planner is a another tool where you can check if there are 20,000-30,000 searches a month for the top 5 keywords in your niche market. Only pay attention to the local searches and not globally.
Next, use the google search tool and check if there are any active blogs in the niche that you chose, how many there are, and what kind of an audience they are drawing in. You can type in the following, just replace the word market with your own market ( ‘top market forum’, ‘best market blogs’).
Also, check if there are active Facebook Fan pages, active forums and offline magazines. Look at these and determine what the problems are in the niche. Can you solve them? How much work will it be to solve them?
3. Determine the Competition
Competition is a good thing. It just only means that there are lots of interested buyers. In order to determine the competition, search on Google and check out their sponsored links.
The more paid ads appear in the niche the better. Sponsored links show up either on the right-hand side or on the top of the pages. You will be able to get an idea of who is marketing, and what they are marketing. Can you also pormote these products?
Find out if there are others who are already in the same niche and who may be doing what you’re going to do. Check if there are well-known advertisers. Check if there is indirect competition. Can you compete against these players. Remember that a popular niche will have competition, that is not a problem, but of it is too much, or their brand is too strong, you may not be able to draw in enough traffic to make the work worth the while.
Again, remember that when you are trying to get information, competition is good. If there are a lot if people who are searching the same given keyword then it means it is popular and there is a big potential in making money within your chosen niche. If too much, you will NOT have a chance. It is a subjective thing as to whether or not you can enter a niche, you are gathering information still.
4. Make sure there are exciting affiliate products out there
One of many ways that are mostly done to make money from a niche is promoting other people’s products and services.
You can start by using an affiliate platform such as Clickbank, JVZoo, or perhaps Share-A-Sales. As an example, Clickbank will allow you to determine what affiliate products are for sale in the niche if there is any, for the niche that you may choose. Check how many products are selling on Clickbank or the other platforms.
It is very important to make sure that there are existing and available affiliate offers especially if you don’t have your own products. You will not profit if there is no affiliate products available even if you have a good niche. You want to have enough so that you can offer a variety of choices to your website visitors.
Another way to find affiliate programs is to Google “affiliate programs+your chosen niche.
You only need to be successful in one niche although you can always try 2 or 3 or as many as you want. But if you are just starting, I think it would be better to just focus on one niche, When you are starting to make money out of it, then that is the time to try and build another website or another niche.
I say this because once you are successful in one niche, you can repeat the process with another niche, and another, and another.
Tip: SELL WHAT IS ALREADY SELLING. If there is competition, and if there are paid ads on the internet, then it means that you can make money on it.
And don’t worry if you think that all the good niche have been found already by the many affiliate marketers out there. There is always room for you and everyone, especially if you are selling information. The internet continues to grow and the people are shopping more and more online.
Have fun and best of luck!
Dave : )