How to Find A Profitable Niche Market?
Finding profitable niche markets is not easy. I will show you how to find a profitable niche market that you can exploit. There are niche market products that you can sell immediately.
What is A Niche?
First, we need to know what is a niche. A niche is a small profitable segment of a market. The aim of niche marketing is to be a big fish in a small pond.
You need to research the market to find a profitable niche market. To find a small pond that has little to no fish in it is your quest now. You want to control that pond. Make it your own. Imagine that you have that pond for yourself to enjoy.
From that supposition, I hope you can grasp what a niche is. You want to take control of a small and profitable market, where the product is yours to promote and sell. No one else to take that piece of cake from your hand.
Examples of Niche Markets
What products that I can promote and sells? There are tons of them. But first, you need to do a keyword research.
Why do I have to do a keyword research? It is because the research will tell you if the niche has a potential or not.
I really recommend you to do a lot of keyword researchs. Let’s use Google for our first step.
I love dogs. So let’s use the dog as our first keyword research.
With the word dog, Google recommends 5 options to choose:
- Dog walking tariff
- Dog walking rate
- Dog breeds
- Dog cafe Jakarta
Interesting, right? I never thought to have a dog cafe. This certainly a nice niche to have. You can explore how to setup a dog cafe in your town. (Jakarta is mentioned here by Google because I live in Jakarta).
What if we want to go further? Let’s search about dog breeds.
Google gave me another 5 options:
- Dog breeds list
- Dog breeds for beginners
- Dog breeds a-z
- Dog breeds UK
- Dog breeds small
I really love how Google just expanded our possibilities. People are searching dog breeds for beginners.
Let’s do a keyword research on that term: “Dog Breeds for Beginners”
As you can see, there are people searching Dog Breeds for Beginners. It has 56 searches and 10 Traffic. My Wealthy Affiliate Keyword Tool also provides competition rate. This will give you an idea if you are swimming in a crowded pond or a luxury-for-you-only pond.
And we have a winner here! The competition is really low. It has 27 competitions.
What does it mean? It means you only have to compete with 27 other websites on the term Dog Breeds for Beginners.
But I don’t really like the “low” searches. Let’s see from the previous result from the Wealthy Affiliate Keyword Tool. It listed “best dog breeds for children” with better searches and traffic. Given that the competition is “higher” but it is still below 300. (I always use below 300 competition before entering any niche market. It is something that I learned along the way).
You can’t see it from the first picture because I cropped it. So I screen captured a new search down below to give you the idea.
The competition for the term “best dog breeds for children” is also nice. It is still below 300.
The second search gave another good list of keywords. You can use that list for this dog niche. I hope you get the idea on how to find a profitable niche market. Now, let’s setup our store.
How to Build a Niche Store
No.. this is not a “BuildaNicheStore.com” review. I don’t recommend it because all the information that I have found mentioned it was left to die by the founder. No more support given. No more updates.
I will guide you to have a niche store.
First thing you need to do is to get a website. You can get a free (or two) websites here at SiteRubix. Use a combination of exact match term and a brandable website name. I use the exact match term with this website: The Online Business Now. I also use a brandable website name for my shaving niche website: BeShaved.com.
Get your own website now.
Now, let’s get your website theme. I am assuming that you are registering your domain through the service of SiteRubix. SiteRubix supports WordPress, a CMS platform that I love. If you want to learn about WordPress for a beginner, head here.
I suggest you to get a WooCommerce theme. This theme is easy to setup. WooCommerce focuses on giving out a theme that helps people to sell things.
The feature :
- It is built for WordPress
- Sell anything. You can sell digital products or physical products.
- Mobile friendly. People are now going mobile. They access internet through their smartphone and buy online.
- Scalability. You can sell one product to thousands of them.
- Open source. This makes a lot of developers chime in to make WooCommerce better.
- Free and paid extension. WooCommerce has a lot of extensions that help you have a better store.
Learn to Build a Website
SiteRubix will provide you a world class course on building a website. It is free to register and to use its hosting when you choose SiteRubix as your domain.
Even SiteRubix will give you a 10 course on how to setup a website and how to run it.
Affiliate Marketing Niche
If you are not selling your own products, I suggest you to get into affiliate marketing niche. Affiliate marketing works by selling products through other people’s website (namely yours) and share the profit through commissions.
In my shaving niche, I am recommending shaving products through Amazon Affiliate Program. You can join Amazon after your website has several posts. DO NOT apply to Amazon if your website is still new. Amazon (or any other affiliate programs) do not want a “nobody” to promote their affiliate program.
Returning to our dog niche case. If you want to find a dog related affiliate program, you can do a search on Google with the term “Dog + Affiliate Program”. Google will list all available dog affiliate program. This is how I got the Cesar Millan’s affiliate program.
I love watching Cesar Millan shows on National Geographic Channel. The show deepens my love toward dogs. And now, as you can see, I can use Cesar Millan name to gain some money.
I will use his affiliate program to sell HIS programs and Cesar will give me the commission because of it.
It’s a Win-Win situation, right?
What to Write in Your Niche Website?
You need to write posts that meet these criteria:
- Shareable. Posts that are interesting and useful are the ones that get shared. Funny posts, too. Since we are targeting people that want to buy things from us, please add fun and jokes in your posts. But remember, not too much.
- Content that Sells. If you want to let people buy from you, your content should help them decide. Not pushy but tell them WHY. People love being told which product that suits them.
- SERP (Search Engine Ranking Page). Your content should meet all the basic SEO for it to be ranked by search engines. Ranked contents are easier to be found. It also means a higher chance for people to visit your website, thus a higher chance for people to buy from you.
How Do We Attain These Criteria?
There are certain types of contents that work really well for this. Let’s review them one by one.
The best way to sell products is to show them how it works. Let people know the benefits of the product. Tell them why this product can improve their lives.
When you write review posts, please include the negative sides of the product. Tell them if the product is not easy to hold. Maybe it doesn’t provide a good manual book. Perhaps it smells. Or anything that is the downside of the product.
Let them decide whether to buy or not. They will weigh the pros and the cons. The mentioned cons will help you in the future if it really annoys the buyer. They will complain to the producer but not to you. Why? Well, because you already mentioned the cons in your article.
People will love your honesty and they will trust you in the end.
A Thorough Tutorial Demonstrating a Product
Whether it is a physical product or a digital product, a thorough how to will help your readers. This will help your brand a lot. People will keep coming back for the tutorial. I never understand a lesson at the first time. I need to review it again and again. That’s exactly why a thorough tutorial will benefit your website.
It will also help people to decide to switch to buying mode or not. A tutorial will show hands-on how the product will enhance soon-to-be buyers’ life.
Make a Fun List Post
People love a list post even though it might not provide in-depth information. For our dog niche, we can write:
- 5 dog toys that you can make
- 6 items to bring when traveling with your dogs
- 3 steps to clean your dogs
Posts like that are powerful. If you sneak some product reviews, you can even make sales.
Get Affiliate Programs
This is how you get to monetize your website. I have several affiliate programs that I have applied. For this study case, I have already applied and approved for Cesar Millan affiliate program.
I can recommend you to get an “Essentials of Dog Behavior 2-DVD Bundle” DVD download.
Or I can recommend you this “Mastering Leadership Series: Complete Six-DVD Box Set”
You need to work a landing page for this promotion. But that is another topic to cover.
Social Medias are Amazingly Useful
You need to tell the world about your new website. After all, why do you start a profitable niche market and have no visitors?
Use social medias. It is the easiest way to let your friends and families about your niche. I use Facebook, Google Plus, Twitter, and Pinterest for my online presence. They are free traffic sources.
My favorite is Facebook. It is easy to share things there. It allows you to have longer captions than Twitter. But basically, because I have a bigger network on Facebook than other social media outlets.
Still A Lot To Cover
There are still things to cover about finding a profitable niche market. What I have presented here is the basic of it. I recommend you to join me in Wealthy Affiliate community. We have courses and classes covering everything you need to know on how to start an online business with a profitable niche market.
In there, I will be able to guide you personally. It will take a few months before you are making money, though. I am not providing a get quick easy scheme. All legit businesses need time to root and grow.
Notice that? I will put attention on “to root”. You can not expect a tall and flourishing tree without a strong root to support it. So get your root solid. Learn the right way to build the online business now!
I hope you have a clear idea on how to find a profitable niche market now. It is not hard but it is also not easy.
You also need to have a community that can help you with it. A support in the business (or anything) will definitely take you further. Do not try to do it yourself! Even when this is about making money online for yourself. Get SUPPORT!