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.