How Do You Make Money in a Niche?
Table of Contents
- What Is a Niche?
- Which Niches Are Good for Internet Marketers?
- How Do You Make Money with a Niche?
- Can You Be in More than One Niche?
- The Basics of Choosing a Niche
- The Popularity of a Niche
- Begin with the End in Mind
- Coming up with Niche Ideas in the First Place
- Moving to Additional Business Models Once You’re in a Niche
- How to Come up with Amazing Niche Ideas
- Verifying Your Niche Idea Is a Good One
- More on Determining Profitability
- Verifying the Niche…Again
- Building Your Online Presence to Establish Yourself in a Niche
- How to Create a Solution and Monetize It
- A Final Run Down of Choosing Your Niche
- It’s Time to Profit!
It’s important to focus on really helping people whenever you enter a niche. You’re going to be a lot more motivated to do that if you’re earning a great living doing it! It’s just the nature of the beast.
So, how are you going to make money after you enter into a niche? You’re passionate about teaching people to write, or potty train their child, or lose weight in middle age or whatever the specific niche you’ve chosen is.
Where’s the money?
That answer is easier than you think. First, you’re going to look at what other people in the niche are already successfully doing.
What are they selling and how are they earning money?
They might be selling their own ebooks or info product courses. They might have published on Kindle or CreateSpace. Maybe they have a massive blog where they feature ads. Maybe they have an email list and promote products as an affiliate. Whatever it is, they’ve made sure that they are monetizing well and earning money for their work.
You’re a marketer, there’s no shame in it. The important thing is to find the balance. You are helping people but you’re also working your way to a fantastic income at the same time.
It’s important to consider the opposite of that as well. Some marketers want to start jumping into a niche and start marketing like crazy. They then wonder why no one is buying…why isn’t their audience responding? Well, it’s because they haven’t provided enough value.
Provide value and your audience will respond.
Later on, I’m going to have you start with the end in mind. You’re going to settle on the business model you’re going to use, first. There’s no sense in choosing a niche that responds best to blogs (such as the food recipe niche) if you’re planning to sell certain types of how-to information products.
That’s not to say that you can’t get into everything. There are plenty of marketers with websites, blogs, social media sites, info-products, Kindle books, and more out there.
However, I want you to have at least a general idea of what you want to spend your time on as a business model before you settle on your niche. There’s a lot that goes into this decision.
I hope you find that it’s not that difficult of a decision after all.
Takeway: Value first. The money follows. If you picked your niche right (active buyers, right?), provide your audience with information that's valuable to them.