Learn something new every day
More Info... by email
Finding a profitable niche means striking a balance between what the marketer is interested in and what the customers are actually buying. Marketers can do this by researching keywords to find relevant and in-demand niches, as well as studying their competition’s success. Depending on the product or service he plans to market, he might also search for affiliate programs designed to provide the most profitable commission.
It might seem that if a marketer chooses a niche he’s interested in, it automatically will be a profitable niche. It’s easier for a person to sell what he believes in and what he knows about, after all. Yet, the niche also must be popular among consumers to be profitable. Therefore, the marketer must think about what he’s interested in and knowledgeable about, and find out which of those areas customers demand. Doing so will help his chances of finding a profitable niche more so than simply marketing his own interests.
Performing keyword searches can help find a potentially lucrative niche market because the results help the marketer determine what customers are looking for. Plenty of free and for-pay online tools help marketers perform keyword searches based on one or several main keywords related to the possible niche. Such tools analyze how many people conduct searches for these words during certain time periods, the various categories under which certain niches are being covered, and the number of websites already answering the customers’ demands. By performing keyword searches, the marketer can also determine how saturated a particular niche is. A heavily saturated niche tends to signify popularity, but because of that saturation, it doesn’t necessarily mean it will be a profitable niche for the marketer.
Once a marketer has narrowed his options, he can begin studying what his competitors are doing. These are the people who are already serving his potential target market, so he can look at both their products and their niche marketing efforts. He can then use his findings to determine which efforts work, what the other marketers are failing to provide, and even whether it’s realistic for him to find room in that particular business niche.
Note that before the marketer can actually begin working within a particular niche, he must have some sort of product or service to sell. He might choose to work in Internet marketing as an affiliate marketer for another product owner or service provider. On the other hand, he might choose to create his own product or service. The same tips apply, regardless of which path he chooses. Yet, if he opts to work as an affiliate marketer, he can make a potentially profitable niche even more lucrative by choosing a program that pays the most advantageous commissions.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!