What is a “niche”? And how do I find one that is profitable?
Your “niche” is the area of the online world you wish to work in. If you have an existing online or offline business, then this is your niche. Bear in mind though, that niches can be sub-divided – so if your business is “shoes” then there’s lots and lots of sub-niches:
- sports shoes
- running shoes
- tennis shoes
- ladies’ shoes
- mens’ shoes
- comfort shoes
- court shoes
- dress shoes
- children’s shoes
Even in an area like “running shoes”, there are further sub-sub-niches:
- road running shoes
- racing shoes
- trail shoes
- full comfort shoes
- zero-drop shoes
- barefoot-style shoes
Each of these represents some level of a niche, even in an existing online or offline business.
If you are starting a new online business, then you have to decide what your niche will be.
Getting some niche ideas
You can start by simply writing lots and lots of ideas. Lots and lots.
There is hardly an area of human imagination that doesn’t have its little spot in the internet. If you can think of it, you can write about, post about it, and just maybe, sell some products about it.
Ferrets? Yes. Fly fishing? Absolutely! Survivalism, yes. Nootropics (smart drugs). Worth millions. Diabetes – $300 Billion. Cellulite removal. Paleo diet. Arthritis. Scrapbooking. Knitting.
If you have an interest, start your list there. If there is something you are good at, start there. If there is something you have knowledge about, start there.
There is an excellent tool called UberSuggest which can help you with niches and sub-niches.
Let’s say you’d like to write about “running”. What sub-niches could you write about in this broad area?
Here’s some of the suggestions from UberSuggest:
- running music
- how to train for a marathon
- running games
- running apps
- running accessories
- running at night
- running calculators
- running socks
- running shoes
- running with dogs
- running earphones
and many, many more.
Now, you could in UberSuggest add a “buyer term” like “buy running …”, and now see the suggestions change to show you searches where people want to buy something related to your potential niche:
buy running shoes
buy running shoes online
buy running shoes online india
buy running shoes near me
buy running machine
buy running shoes online canada
buy running shoes online australia
buy running shorts
buy running spikes
buy running trainers
buy running armband
buy running accessories
buy running apparel online
buy running accessories online
Will my niche be profitable?
So, you’ve found some area where you’d like to market online. Better still, you’ve found a few to test to see if they might be profitable.
The first thing is to see if there is something you can sell. Again, if you have an existing business, you know what you are selling. If this is a new niche just for online marketing, you need to find some products to sell.
One place to go is Clickbank. Clickbank is primarily a retailer of digital products, but even for our topic of running, Clickbank has plenty of possible products:
There’s a couple of products immediately, paying you $16.10 and $17.95 per sale.
Where else can you check to see if your niche is profitable?
Amazon. Go and check Amazon to see if there are plenty of products in your niche. You can be an Amazon affiliate, but the commissions are quite low. The purpose of checking Amazon is to see if there are good, popular products people are buying.
Check Google. Are there advertisements down the right hand site> These are people paying to advertise. Check through a few pages to see how many advertisers.
Here’s two simple ways to think about a niche likely to be profitable.
- Solve a problem – the worse and more intense the problem, the more people will be likely to spend money
- Feed a passion – some people are crazy for their interest, whatever it is. Look for irrational people who will spend money over and over again.
Overlap (if you can) what you are good at, or have some interest in, with a niche with products to sell, and a problem to solve or a passion to feed.
That should be a profitable niche.