Have you tried starting your online business and stumbled into difficulties on the first step? Finding your niche?
Or have you considered operating an online business or even a productive blog, but still don’t have a clear topic you want to focus on?
If you are going through any of these, then this post will guide you to discover the right niche that is not just lucrative, but you can enjoy doing.
Finding your perfect niche is crucial towards the success of your online business, it’s one of the first steps you should take and will guide you on all the future tasks: community building, advertising and creating products.
This guide will help you access your strengths and passions and find a profitable and pleasurable niche.
Assess your skills and passions
A basic interest in a niche shouldn’t be a reason you should choose a niche; for sustainability, your niche should be preferably what you would love to do for no less than 5 years*.
Can this be something you can venture into without getting paid or at your leisure?
What have you done that people commended you for? What education or skills have you acquired? Have you been able to develop any special knowledge or skills from your work?
Discovering an area you have good knowledge about and passion for is a great spot to identify your niche.
Look out for any market in your preferred niche
If you want your work to grow into a lucrative business, then you have to find out if people need it.
With the use of a few basic keyword researches or the Google Keyword Planner, you can get started. Simply input some keywords relevant to your niche. See the suggestions based on monthly search, suggestion bid, and competition level.
With a search volume, 1k to 10k is perfect per month. If less than this, then the market is low for it; if more than, then ranking high will be difficult.
Regarding competition, low-medium is ideal. As much as this shows a level of competition with phrase or word in the AdWords, you’ll still get an overview of organic levels of competition.
With suggested bid, you find higher bids, which usually show a massive level of commercial aim. Thus, people are willing to pay higher since they make more when those keywords are ranked.
Define your niche clearly
Defining your niche clearly implies narrowing down the focus of your niche.
This can be done by visiting Facebook groups, subreddits, or other relevant forums.
Tools like Redditlist will help fish-out sub-niches or subtopics you probably intend to pursue. Input your major keywords and look through the most popular subreddits for any one that interests you.
Go as deep as you can by checking these niche groups, forums, and subreddits, see the popular questions or topics. This can possibly assist you in defining your niche (for instance, “freelance science fiction writers,” rather than just freelance writers.
Examine the competition in your niche
To check out for your competition, simply Google some of the keywords you got to see the websites that appear on the first page. You should see:
- Numerous popular sites have ranked those keywords. The niche is probably over saturated and you may need to get a niche that isn’t too popular.
- Those keywords are not ranked by any sites. This could appear like so much opportunity, or others have realized the sales are very low for the niche.
- The sites ranking those keywords are low quality or smaller sites. You can pursue this niche at this time as the competition won’t be too serious.
Get your niche tested
Doing this keeps you on the right track. The use of a landing page will help you before you decide on setting up the whole website, particularly the one that can help in promoting a free infoproduct relevant to your niche, for example, Leadpages.
Then, the use of AdWords is what you need to drive traffic. This will help you understand the interest of people for that product and/or niche (based on downloads and traffic).
At this time you can confidently set up your social media and website profiles.
This guide should give you a road map already, even if it doesn’t guarantee a success in your niche. Your risks are also minimized, saving you more money, time, and frustration.