NICHE RESEARCH: FINDING A PROFITABLE BUT LESS SATURATED NICHE.
If you ever want to create and market a product profitably online, the most important thing you need to focus on finding is a niche.
In this chapter, I am going to take you through the process of finding a niche for your information products that have less competition yet, very profitable.
So, for those who are new to the world of online business, let’s take a look at what a niche is, and why it is crucial in quickening your process of making money selling information product online.
WHAT IS A NICHE AND WHY IS IT IMPORTANT?
A niche is defined as any position of opportunity for which one is well-suited, such as a particular market in business.
Now, does this mean you have to be an expert in the niche you want to pick to create your product? No. Not at all.
In fact, as long as you can read, learn and write, you can pick up any niche online and position yourself as an expert in that topic.
We will go more into becoming an expert in the niche you wish to make money from in the next module.
Right now, let’s take a quick look at why a niche important?
The single reason why carving a niche for yourself if you are ever going to make money fast online is because of visibility.
How is this?
For example, there are too many people in the Fitness niche, so many that probably even before you were born. But getting into the sub-niche of weight loss is also a waste of your time.
To get more traction and visibility, carving a niche such as “How to Lose 300 lbs in 3 days” will get you quick visibility because of low competition and this increases your potential of making a quick profit.
Now that we have set the theme about the niche let’s look at three steps you need to take when finding a profitable niche.
1. Find Your Keywords.
What makes you money when selling anything online is not the market you choose, for example, Fitness. It is the niche you carved for yourself through the keyword you selected.
A keyword is a gold in the world of online business, and if you can’t get it right here, you will find it hard to prosper in whatever market you are.
When you are ready to find your keyword, the first thing to do is register with Google Adwords if you don’t have an account with them already.
When you are done, log into your dashboard and under the tools section, click on keyword planner.
After that, type in the keywords you want, or if you don’t know what niche interests you most and how to search for it, you can just insert popular keywords like fitness, how to stay fit, money, Bitcoin etc. And Google will do the work for you by showing you different types of searches related to that word. When you see this, you can then decide which of these keywords you will build your information business around.
N.B You’re going to want to find keywords that pull in an absolute minimum of 2,100 global searches a month or 5000 local searches.
Also, adding a time frame to the goal of your niche has a massive effect in winning in that niche.
I also recommend using ubersuggest
2. Is Your Keyword Competitive?
After you’ve spent enough time finding the market niche keywords you want to build your business around, and subsequently figured out what keyword you will focus on, the next thing is to check out how competitive your keyword is.
To do this, open a new tab on your browser, go to Google.com and type in your chosen niche keyword into the search box.
By so doing, you will get to see how many other pages are listed in the results for the keyword, which stands for your competitors, alongside with any Pay Per Click ads.
The rule of thumb here is that you don’t want to have more than 2, maximum of three pay per click ads for your chosen keyword as a competition.
This is because, it will reduce the cost for your ads whenever you want to boost your result, plus give you an insight to what your competitors are saying on those keywords, their most read content, it’s titled, and how you can remodel it for your lead magnet.
3. Should You Take It?
Before you decide to go for a particular niche keyword, there are two main tips I want you to put at the back of your mind.
The first thing is after you’ve inserted your keyword into Google, look at the kind of website that pops out for your keyword.
Are they high authority sites like Hubspot, NeilPatel, entrepreneurs, Forbes, and co. If they are, that’s probably a bad sign. But if what you see on the front page are random websites which are not niche-based, Facebook pages, wiki how, or Wikipedia. That is a good sign you can go ahead with that keyword.
Secondly, if your search results show over 1.8 million results for that keyword, run 🏃.
On the other hand, if you see a couple of thousands of results and a little bit into 1 million results, you can dive into that market.
A golden tip before we move on.
Always look at the time it takes google to load your results. The faster it is, the less quality content and competition are there for that keyword.
Now that I have shown you how to go ahead finding your niche keywords and choosing the profitable one to pursue let me quickly drop this final tip which is ultimate in deciding whether you are going to make money in your selected niche.
And that is…
Do They Buy Products In That Niche?
When you are selecting which niche you want to run with, I will advise you to probably search, sites like Amazon, Clickbank, and JVZoo to know if there is a product, books, related to those keywords that are selling hot.
This is needed to know if people do buy stuff in that niche, so as not to waste your time, and become frustrated when you are about to sell.
Great. I hope you enjoyed the journey of finding a niche that is both profitable and less competitive.
Go ahead and find a niche of your choice as directed in this module. When you are done, reply to this post with what you found, and I will give you my honest reply on whether you are going to make money on it.
See you in 24 hours