Next, let’s talk about where to go after you’ve chosen your niche. We’re not going to get into specifics here when it comes to business models—there are a ton of books out there that can help you with specific business models. It’s just that I’ve seen so many of them gloss over niche selection, which is why this is my main focus for this particular series.
It doesn’t matter what your business model is or what you’re doing, you need to have an online presence.
An online presence gives people a chance to get to know you.The more people know, like, and trust you, the more likely they are to buy from you.
An online presence also keeps you fresh in people’s minds. You don’t want to be “out of sight, out of mind”…you want to be so relevant and present that people can’t help but run into you all over the web.
Building an online presence also gives you security. You want to be present on social media, on forums, on your own website, and through your sales channels.
I suggest you take the time to see what other marketers in your niche have done to establish themselves. Look at their Facebook pages and groups. Could you start something like that for yourself? Look at their Twitter accounts—how do they network with other marketers as well as their customers and readers?
It’s important for you to network and develop relationships in any way you can online. It’s going to help you be much more successful.
When you’re first getting started, it can be intimidating to think about standing out. Just get in there and start chatting with other people in your niche. Be friendly and helpful on social media, forums, and popular blogs. Show people that you know what you’re talking about and that you’re the one to watch in this space.
You never want to spam, of course. You don’t want to just push sales messages all the time. You’re presenting a persona to the people of your niche, so it has to be a good one. It has to be one people will be willing to buy from.
Wherever the readers and the experts of this niche hang out is where you need to be.
This is how you become well-known and successful.
The thing is, no matter which niche you choose, you never really have to start from scratch. If you network with others, you can find success more quickly.
Takeaway: Your name will spread and you’ll find opportunities to work with those who are more established (affiliate opportunities, joint ventures, partnerships, and more). Having a web presence simply gives you a much higher, stronger chance of success.
Does the niche selection process sound tough so far? It’s really not. It’s also something you’ll get better and better at over time.
You have done a lot of digging to make sure the niche you’ve chosen is a good one. But, it never hurts to do a final verification to make sure you’re on the right track.
Do the people of the niche you’re targeting have a true need or problem you can help them with? If there’s no need or problem there, you’re going to have a hard time of it.
Are lots of people buying in the niche?
You want to target a buyer’s niche so you can make money. Just because people are interested in something doesn’t mean they’ll pay money for it. You have to figure out a solution to their need or desire, but figure it out in a way that will be profitable for you.
You also have to figure out who you’re serving, very specifically. Don’t just assume you know everything there is to know about the niche. There’s bound to be a lot that you don’t know. You can use sites like Alexa.com and Quantcast.com to gather data and facts about the people of your niche and the websites they frequent.
You really should get to know the human element that’s involved here. These aren’t just people who are going to hand you their hard-earned money just because you’re selling them something. These are people who will hand over their hard earned money only if you can differentiate yourself from the other marketers in the niche and really help people in a way that makes it inevitable that they’ll want to spend money with you.
If you focus on giving, giving, giving, and developing real solutions for people who are desperate for them (and who are willing to pay handsomely for them) you can do really well in the niche you’ve chosen.
Also consider whether you’ve gone deep enough in your niche.Have you truly considered all of the sub categories and niches that are available within the more general niches? It can actually be more lucrative,more quickly, if you target these under-served, yet still very hungry, niches.It can also make for easier work for you, since you won’t have to focus on such a broad topic.
The most important thing is that you don’t doubt your ideas. Don’t hold yourself back just because your niche “might not” be profitable. You’ve checked and checked again. Now, it’s time to let go of the doubt and just move forward, no matter what.
Even if it seems like you’ve found the best, most sparkly-good niche in the world, you might be frustrated soon after you take action. It can seem like things aren’t happening quickly enough… like you’ve done all this work so why aren’t you being rewarded? The truth is that you have to keep testing, tracking, and tweaking. You won’t know what works until you test it out. No book can tell you what the perfect niche is. But, if it’s an active niche where people are spending money, you can bet there’s a way to squeeze money out of it. You just need to adjust your technique until it happens for you.
Takeaway: Focus on giving, providing value to your audience. If you're passionate about this, and your niche has active buyers, you will succeed.
I can’t say it often enough—the niche you choose has to be profitable for you. You’ll have a miserable time of it if it’s not.
That means you have to make sure you have a niche that has a strong likelihood of making money for you.
You also have to have a plan for how you’re going to earn that money.
Some people make the mistake of entering a niche, trying something out, and expecting to earn like crazy from it right away. It doesn’t usually happen that way. You can’t declare that a niche “isn’t profitable” if you just dip your toes into it.
You need to have a solid business plan and a plan for how you’re going to differentiate what you’re doing from what everyone else in your niche is doing.
People out there want solutions. They are willing to pay handsomely for solutions. If you can offer them the solutions they crave, you can do exceedingly well.
But how are you going to stand out?
Why are you the right person to enter this niche?
I have no doubts that you can make this work for you. You just have to believe you can do it and have a plan for how you can do it.
There are two parts to this:
Sound tough? It’s actually a lot easier than you think. It might even be fun for you, once you give it a try.
Takeaway: Find a niche you enjoy and create and execute a business model to profit from it.
How do you know your ideas are any good? What if you have a list of possibilities that’s a mile long?
There’s no reason to worry—I’ll tell you exactly how to narrow your list down so you can choose the niche that’s going to be the best choice for you, today.
First, circle the top three niche ideas you feel pulled toward.
These should be niches you think you have a good chance of success with. They should be popular, exciting niches where there appears to be a lot of sales and activity.
They should also be niches you think you’ll enjoy working in.
Next, it’s time to double-check yourself and make your final decision.
Please don’t feel like this decision is the end-all, be-all.
You can always go with the other niches you found and brainstormed at a later date. But you can’t just sit there and stew over what to choose. You need to make a decision.
You’re a lot more likely to make money if you take action on a so-so niche than you are if you don’t take action at all because you’re paralyzed by thinking you’ll make the wrong choice.
Now then, circle the top niche you’re drawn to out of your list of three.
It’s time to go with your gut. You need to verify that it’s a good niche by confirming its activity and sales potential. You also need to make sure that you can (fairly easily) stand out from the competition that’s already present.
Read the above paragraph again!
Are there blogs and websites dedicated to that topic in droves? If so, confirm that the top blogs have a lot of comments and activity going on. This has to be a REALLY active niche if you want it to earn for you for the months and years to come.
Are there books out there on the topic that are selling well? Are there multiple angles and subtopics these books have covered?
If so,that’s a good sign. The fact that people are releasing books on various related topics signals that this is a viable niche.
You want people to snap up book after book, product after product, in the niche you choose—whether you’re selling your own books or info products or promoting them as an affiliate.
How about info products, specifically? You’re an internet marketer, so it’s a safe bet that you will want to build a list and release your own products within your niche.
In any case, you’ll want to build a list…that’s just smart marketing no matter what your niche is.
What about social media? Are there Facebook groups and business pages surrounding the topic?
Do a search for the niche you’re thinking about and see.
Are there Twitter conversations about the niche? You’re probably going to make use of social media to promote yourself in your niche, so there should be a lot of traffic going on already that you can step in front of.
Takeaway: Your niche will work if a) there are tons of active buyers, b) there is a bunch of activity on blogs and in books, and c) you are at least very interested in the niche.
Let’s get down into the mechanics of niche selection here, rather than just theory.
This is a step-by-step of what will help you choose a great niche, even if you’ve never gone through the process before.
I’ve told you to brainstorm ideas already, based on your own passions, needs, and interests and of those who are close to you.
But sometimes those juices just won’t start flowing. You feel stuck, like those profitable ideas just won’t come to you. The great news is that feeling will absolutely go away after you go through this process.
This is a surefire way to come up with endless ideas for profitable niches.
They say just one idea could be worth millions. I don’t know what your niche idea will eventually be worth to you. What I do know is that this is the first step toward changing your life, so you better make it count.
How do you brainstorm ideas? It’s time to gather some inspiration from all over the web.
One of the first and best places you should go is Amazon.com. Why? Because they have the widest and best variety of products, books, and other merchandise and services. They also provide you with invaluable data about what’s selling and what’s hot right now.
Go ahead to Amazon’s front page and start browsing through their categories to get a feel for their site. You’ll soon notice that there are subcategories within categories. There are even subcategories within subcategories.
Remember when I told you to choose a sub-sub-category? Same thing here. If Amazon is doing it…
Now, concentrate on the area of Amazon you think would best point you to a niche that will work well with your business model.
Do you have your notebook handy? You’re going to jot down every niche idea you get as you browse through Amazon. You’re not limiting yourself or censoring yourself at all at this point. Every idea is a good idea, for now.
That's what brainstorming is, after all.
Let’s say you’re browsing through the Kindle categories. Since you’re an internet marketer, you’re likely interested in the non-fiction categories. Do any of them strike you in particular?
Click on those categories and any subcategories that draw your eye.
Now, investigate the top books or products in the category you’ve selected. Do they have lots of reviews? Is their sales ranking on Amazon low? A low Amazon product sales ranking indicates that it’s selling well.
Are their lots of products or books or whatever it is in that niche? Is there obviously a lot of activity and customer interest in that niche? If so, then it’s probably a good category for you to write down on your brainstorm list for now.
You could get lost all day browsing Amazon for niche ideas. Make sure there’s a rhyme and reason for the browsing you do.
For instance, you can go to the /bestsellers section for any category you’re interested in on Amazon. You can also browse the movers and shakers, the products and books that are soon-to-be released, and more. I mean it when I say that Amazon can be a rabbit hole of really excellent ideas.
In addition to using Amazon, you can also browse magazines for niche ideas.
You can go right to magazines.com if you prefer. Here, you can take a look through popular magazines. If there’s a magazine about it, you can almost be sure that it’s a popular niche. You’ll be surprised to find that there are magazines out there you’ve never heard of, in niches you’ve never heard of!
Pay particularly close attention to the headlines on the covers of the magazines. These are topics that the professionals at the magazine thought would be most attractive to the people of this niche.
That can be a good indicator that those topics are a good idea for you to focus on as well.
You can also browse online marketplaces where other marketers list their products for sale. Other marketers have succeeded before you, so why not emulate their success?
Some digital marketplaces include WarriorPlus.com, ClickBank.com, JVZoo.com, Zaxaa.com, Nanacast.com, cj.com, linkshare.com, and many more. These all have affiliate options as well as options for businesses and marketers to list their products.
Browse through the top products or companies on each of these sites. Do you notice any patterns? Click through the various categories, noting sales data and popularity as you go.
Are you getting any ideas for great niches? You want to follow in the trail of what is already successful.
Maybe those kinds of niches aren’t really what you’re looking for. Maybe you prefer to cover trending niches or topics. Maybe you’re looking for something that’s so hot, right now, that you can’t go wrong. Maybe you’re looking for a niche that’s really popular but other marketers haven’t really discovered yet.
That’s riskier, of course, because you won’t usually have the sales data available. But there’s no sense in turning away from what your gut and research tell you could be an extremely profitable opportunity.
You can search for trends at trends.google.com. You can visit Twitter and Facebook to take a look at their trending lists, which they make very visible on your social media accounts. You can take a look at breaking news and trending blog topics. Visit sites like Alltop.com to get a feel for the most popular trending topics and blogs on the web, within certain categories.
Popular blogs and news stories can be great for brainstorming. You’re bound to find some great ideas you can tackle for your next project.
The web is a fantastic resource for brainstorming niche ideas.
Takeaway: Just make sure you don’t censor your thoughts and just write down anything that strikes you as you visit the various websites and resources.