How to find a profitable niche market for affiliate marketing….And what Second City can teach you!
The starting place for any successful online business is answering the question “what is my niche market?” In this first exercise, we are going to be covering the following:
How to Research a Niche
Profitable Niche Ideas
Criteria for Choosing the Right Niche for You
Let’s go ahead and first define what a niche actually is…
I define it as a very focused target group of people. They have very specific problems they want to solve and that’s what they are searching for online. The key is cheap nba jerseys that your niche should not be too broad and yet not so narrow that your audience is tiny. It also should be something you are very passionate about. Essentially your role is to become a Sherpa or trusted guide to helping solve problems.
Here are a few examples on how to think about developing a niche:
- If you are very interested in healthy living, a niche could be probiotics and digestive health.
- If you love to travel, a smaller subset could be great weekend getaways.
- If you love biking and travel, a niche could be cycling vacations.
- Suppose you are an amateur photography, you could focus on urban photography or nature scenes.
- Maybe you love acoustic guitars and want to focus on a particular genre of music, such as modern folk.
- If you are a new mom and only want to feed your baby organic food, that’s a niche.
We world! went from a broad group of people to a much narrower audience. That audience ultimately will be more profitable to you because you have the solution to the problem they are trying to fix. More important, because you have a passion about that issue, you can relate so much better to your audience…in fact, you are your audience!
If you take some time and really think about what you like to do, you are already half way there. Set aside some private time with minimal interruptions. Make a list of your top 5 hobbies / passions.
I thought this video from Second City could help you through internet the process, as well as making you laugh out loud!
OK, that actually leads us to our next topic…
How to Research a Niche
The easiest and most direct way is to world! first develop an ideal profile of who you think your customer is. This step is often referred to as developing a customer persona. Try to get as detailed as you can with this exercise…it will really help in the long term.
In short, a persona is an extremely detailed description of your ideal customer. Knowing them in more depth will help guide you to create much more meaningful and cheap jerseys relevant content and improve your conversion cycles and sales.
That’s why I wanted to share with you some quick tips how to develop a persona and bring your ideal customer to life…
1. Are they male or female?
2. How old are they?
3. Where do they live?
4. What do they do for a living?
5. Are they married with kids? (or are they empty nesters?)
6. What do they like to do on weekends? Which type of activities?
7. What do they worry about? What are their pain points?
8. What are their hopes and dreams for the future?
9. What problems are they trying to solve? How can you help them?
10. How do they consume content and what are their patterns?
a. Via their phone, tablet, or laptop?
b. What time are they usually looking for information (daytime or evening)?
c. Which social media channels do they like and how often are they on them?
d. What are their online buying habits? (this is a tough one to initially figure out)
Some of these questions are very hard to answer, but try to really think about them. That said, the more thorough your persona is, the closer you are to helping a future customer.
The next step is to do some online research to see who the competition is in this niche space and what customers are really saying cheap jerseys their needs are. Join some forums and understand your customer needs right from their mouths. Talk to friends and colleague. You will end up with a great picture of your target audience.
I also recommend checking out Google Trends and Google Insights as excellent sources of market research. How about looking at Amazon to see what their top sellers are by categories?
Let’s spend some time now on developing profitable niche ideas
I first like to look at trends and markets that may be under served, but yet potentially profitable. Once again, it should be something you really care about.
Here are just a few potentially profitable niches as food for thought…
- Weight Loss Programs (i.e. juicing, paleo diet, etc…)
- Organic Health Products (i.e. herbal products for insomnia, memory, etc…)
- Money Making Programs (i.e. affiliate programs, creating your own digital product, etc…)
- Gaming Platforms (always popular and always evolving)
- Wearable Tech (think iWatch and FitBit)
- Adventure Travel (this could be a fun one)
My bottom line advice on finding the right niche for you…
- Be true to your passions and the money follows…
- Take your insights from developing your passion and then create a profile of the ideal customer who shares these passions and hobbies. Technically you are the customer because you share the same passion.
- Have an authentic and original voice – that’s how you rise above the clutter
- Set goals for this process and track them diligently – It’s much more like running a marathon versus a sprint
- The key thing I have found in my journey is to keep your focus on solving problems.
Stay tuned for our next exercise on The Art & Science of Choosing a Domain Name.
Looking forward to seeing you again soon! Please feel free to leave me comments and questions…