In this article I’ll tell you about Best Way To Find A Profitable Niche. The first step to creating a successful business online is by choosing a profitable Niche. Notice that I have used the word “PROFITABLE”, this is because when you choose a niche market, it does not matter how great the idea or product is, if you cannot find people to BUY the product, it does not matter.
It therefore, go without saying that you do not choose a niche based on your assumptions, rather, you carry out a niche market research to find out what people are looking for, where are they looking, how will you know if they are looking to buy and why should you care; the What, Where, How and Why…..
How can I look for something without knowing what to look for, you might ask….. so here is it.
A Niche is a group of people searching for a particular product, information or service. From this we can define a niche market as a market that target a particular people based on their interest, needs or hobby.
What you want to do in your niche market research is look for a certain product or service that a certain group of people are willing to pay for.
Now that we know what a niche is, we will look at the Where, What , How and Why of finding a niche.
Where Can I Find A Niche?
If we take a second look at the meaning of a niche, we will realise that niches are found everywhere. So look around and see what you can come up with. You are likely to have a list that looks like this:
- Pregnant Woman
- Men’s shoes
- Shaving Cream
- Baby Stroller
……… and so on.
Others places where you can easily come up with niche ideas are magazines, Amazon.com, Clickbank.com and other places where you get an idea of things people are buying.
Keep a list of these thing.
I Have A Niche List, What Then?
The next step in your niche research is to find out if people are actually searching for these products; if they are, what exactly are they searching for. Using Google search engine, we do a keyword search using the alphabet soup techniques an each niche.
Identify the marketable micro-niche markets (markets within a target market) and list them out.
- Television antenna
- Television Brand
- Television Brands
….and so on.
You can decide to stop here or use the alphabet soup technique to narrow down the search to a more specific group;
- Television Antenna amplifier
At the end of this stage, you should have a list of micro-niche or micro- micro-niche markets.
How Do I Know Which One Is Profitable?
Using a keyword tool like Google Adwords Tool, Jaaxy, or any other keyword tool that you use, find out how many people are searching for your micro- niche or micro-micro-niche keyword per month and how many competition are there. What you want is the one with high monthly search and low competition.
Also check to see if anyone is paying to advertise the product.
It is good practise to have a long list or micro-niche keyword so that you can have enough options for searching. You then check if the one you decide to choose has a domain name. Look for .com, .org or .net, if these three are not available, search for a new keyword.
Finally, Why Do I Have To Do All These?
The importance of a profitable niche to the success of your online business cannot be overemphasized. Every search starts with a keyword and the ability to know which keywords leads to a buy is what will keep you in this business.
So do not underestimate the reward of a good niche research, spend the necessary time to come up with a profitable niche and your business will be better for it.