Hello, dear reader! Welcome to my blog post about how to find a profitable niche!
Are you struggling with finding your ideal niche? Don’t worry anymore; you are in the right place now.
The Topics I Am Going To be Covering today:
What is a niche?
Why do you need your niche when doing business online?
Is it better to be involved with a broader or narrower niche?
What is your niche market?
Who is your Niche audience?
Finally, I’m going to reveal several tips and ideas about how to find a profitable niche.
So, if you want to discover all of this, stay with me for a while and keep reading this article through its end. I’m sure you will love it.
Let us begin with a niche!
What Is A Niche?
The Niche is a group of people interested in the same topic, product or service. The people are sharing the same interest. There are thousands and thousands of niches available. Anything can be a niche! A dull pencil can be a niche.
Well, if you hold on and think for a moment, there is a whole industry involved in the production and selling of a pencil — the designers, the infrastructure, the business holders, the employees, the logistics, the sellers, and many others.
However, this simple pencil represents a broad niche. The pervasive group of people that will be interested in this product.
I am sure that it is easy to understand that to be dealing with a broad niche is very often much harder to succeed with, instead of dealing with a narrower one.
A narrowed niche is a more specific niche, a smaller one, that focuses more on a singular topic that is easier to work with, present, describe and to build a business around it. It is about the targeted group of people that are interested in a specific subject what makes more comfortable to target and to get customers, because of fewer competitions.
As a beginner, while working with a narrowed niche, you need fewer sources and resources, and you are competing with less competition! Thus, having more chances to succeed faster, more comfortable and on high levels.
In our example with a pencil, as a broad niche, you can dig more deeply into the pencil niche and specify the product or service around pens products.
Narrow The Niche!
That means, for example, you could narrow the pencil niche by choosing only the charcoal pencils, ink pencils, color pencils, pencils for children, wooden or plastic ones, or even pens made of any other material.
Do you get the picture here? By choosing a specific pencil, you’re going to be able to focus all your time and effort into this particular product what will make more comfortable for you to attract visitors to your offer in a faster and easier way.
You could also start with a broad niche what will it takes you much more time and effort to attract your Market because the competition is the much higher end you need much more resources to compete against such a massive amount of competitors.
It Is Crucial To Define Your Niche! You Need To Know How To Find The Profitable Niche! You Also Need To Find The Proper Market For Your Niche.
Depending on the kind of your promoted product or service, you will need to select and focus on a specifically related market.
Again if we would use our example with pencils, using color pencils for children as your main niche, you will target children whit such interests.
If your niche would be ink pencils for managers or carbon pencils for artists, you will probably want to target audience with such interests; it will create your targeted market.
As we can see, it is not that difficult to understand what is a niche; why do you need one end what market to target! However, many people still have difficulties in finding the proper field of action for their business and in making money online.
With that said, I want to help you today with my tips and some ideas about how to find a profitable niche! My goal today is to make it more comfortable for you to take the proper decision.
What Is A Niche Market?
Wikipedia explains about Niche Market the following:
A niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that it is intended to target. It is also a small market segment.
Not every product can be defined by its market niche.
The niche market is highly specialized, and aiming to survive among the competition from numerous super companies. Even established companies create products for different niches; Hewlett-Packard has all-in-one machines for printing, scanning and faxing targeted for the home office niche, while at the same time having separate machines with one of these functions for big businesses.
In practice, product vendors and trade businesses are commonly referred to as mainstream providers or narrow demographics niche market providers(colloquially shortened to just niche market providers). Small capital providers usually opt for a niche market with narrow demographics as a measure of increasing their financial gain margins.
The final product quality (low or high) is not dependent on the price elasticity of demand, but the specific needs that the product is aimed to satisfy and, in some cases, aspects of brand recognition (e.g. prestige, practicability, money saving, expensiveness, environmental conscience, or social status). When there are needs or desires with specific and even complex characteristics, the market niche requires specialized suppliers which are capable of meeting such expectations.
Read more by clicking here!
The First Tip About How To Find The Profitable Niche I Can Share With You Today Is The Idea About Your Expertise.
To be involved in any niche and to be able to present and market it successfully you need to possess specific skills, knowledge, the expertise.
I’m sure you are already an expert in a particular field. Sit down for a moment, think over and find out what you know best! Ask yourself what you could share with the world?
It would be your first source for finding your perfect niche. Put your skills and knowledge down on the paper. Become aware of your abilities. Share them with your audience, and you will get your reward for it.
Your expertise includes your passion about something, your particular skills, your level of knowledge and your valuable experience.
- What is your passion?
- Did you acquire special skills related to your passion?
- Did you develop a high level of knowledge about it?
- How experienced are you with your skills?
Answer these questions, and you will learn a lot about your possible perfect niche! If you do so, let me know about it, and I would be more than happy to find out what your expertise is.
Perfect, now you discovered your unique skills and your expertise that you want to share with your audience.
My Next Advice About How To Find The Profitable Niche Is To Define Your Targeted Audience!
The profile of your targeted persona. It is actually about defining the pattern of your audience on the internet.
There are many ways how to do that! I’m not going into it now! However, if you want to read more about, then click here and inform yourself additionally about it.
You are moving on now to our next idea about how to find a profitable niche! It would help if you defined the places online that your targeted audience is visiting.
I want to mention here that, by conducting specific researches online on different online platforms, related to your expertise can help you more closely to define your perfect niche.
The places online where your perspective targeted audience is circulating could be the search engines, social media sites, various online directories, related forums, online communities, and you can find them even within your email subscribers.
You can use all these platforms to contact and engage with your perspective targeted audience to find out more about their needs, desires, problems, and offer them solutions. The solutions can be the ideas for your perfect niche. These researchers can help you in return to narrow your niche and provide answers to these particular needs.
You need to know that within this audience there are many niche experts that you can contact and ask for their opinion.
My Next Tip And Idea About How To Find The Profitable Niche Is Talking To Experts!
It is probably the most valuable source of your research online when speaking about finding a profitable niche. These people already have much experience and possess a high level of knowledge you can use to find out how to position yourself with a specific niche.
I highly recommend asking those people for their opinion! I’m sure they’re going to be glad to help you out. You see, the website you are on it now is dealing with the affiliate and online marketing niche, which is an extensive one. However, I like it that way. I love the topic. I was always interested in such activities and wanted to learn as much as possible about it.
It is also one of the main the reasons why I joined, after my opinion, one of the best, if not the best online education program about affiliate and online marketing, which is called a Wealthy Affiliate.
You can click here and access to my other post that describes what Wealthy Affiliate is! You will be getting comprehensive insight and information about this excellent program.
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I can only and highly recommend you to participate as well. For a very affordable price, you will be able to get instant access to the most comprehensive affiliate and marketing program, support and platforms online.
With this education, you will learn with easy more about how to find your profitable niche.
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Okay, now coming back to our topic of the day, you know that there are many experts out there that can help you to find your perfect niche as well, but, there are also some tools available you can use to find your profitable niche.
As The Further Tip About How To Find A Profitable Niche Let me Introduce You Some Great Tools, You Should Use!
The first tool is called Jaaxy! It is a keywords research tool. You need to know that keywords are a great source of finding a profitable niche. If you don’t know what keywords or keyword phrases are, then click here to read more about them. Enter the search term into the plugin below and search for your profitable niche!
Jaaxy will help you to find your perfect niche. You can test this tool for free here. You may also add some search terms in the plugin below and start searching for your ideal niche.
In a case you need more assistance, please let me know! I would be more than happy to help you out. I’m using Jaaxy regularly, and I can assure you that this is one of the best keyword research tools online. Don’t miss this opportunity and use this tool to your benefit.
Use surveys to find a profitable niche!
Another tool I want to present to you when speaking about how to find a profitable niche is a marketing tool, namely the survey tool. There are also free survey tools available online. The some I recommend are:
Use these tools to merely ask people online what they need, how they feel, what are they searching for and more.
The third tool I recommend for finding the perfect niche is the social media account! You can ask your friends and your followers through your social media accounts about their needs, problems, desires, the products they like and other things.
Lastly, the fourth tool I want to emphasize is Google Analytics. This is one of the most powerful tools you can use to define many things about how to find a profitable niche. The only issue with it is that you need to have your property (website, blog, etc) online to be able to use it.
So, I recommend first to define your niche, create your website for it and then start your researches using GA. In fact, you already have defined your niche, but using GA will help you to narrow your niche even more and to create relevant content for it.
Try it out! I highly recommend that! These are all a swift way of finding a profitable niche.
My Next Tip And Idea About How To Find The Profitable Niche Is About Using The Available Internet Technology!
This technology includes VOIP technology like Skype, WhatsApp, Viber, Messenger, Hangout! Also, autoresponders are a great tool and technique involved when dealing with email marketing to connect with your audience and ask what is it they are searching for online.
This technology allows you, as you already know to get instant access and personal connection to a broad audience around the world, to your present and your possible future contacts.
So use this technology to talk live and get quick contact to your targeted groups of people and exchange your thoughts about finding the best possible and profitable niche for yourself.
Step By Step, We Came To Our Last Tip And Idea About How To Find A Profitable Niche Which Is About Referent Points For Additional Learning
At this point, I highly recommend my reference point number one which is as presented already before, the Wealthy Affiliate program and its amazing online community consisting of affiliate and online marketers all kind of levels.
You can use this opportunity to talk to them daily! Get instant opinion and suggestion about finding your perfect, profitable niche.
It is the only reference point you might need! Certainly, you can also use other reference points online! The various online resources like online and offline libraries, various forums online, webinars are some of them! You can always contact me and ask what you need.
So There You Have It — The Specific Tips And Ideas About How To Find The Profitable Niche.
Familiarize yourself with a niche! get to kno what is a niche!
Be aware of your expertise
Define your targeted audience
Choose the proper niche market!
Talk to niche experts!
Use a specific tools
Make use of the modern available technology!
Don’t forget about the referent points for additional learning about the topic
Market, market and market and Focus, Focus and Focus!
The Final Thoughts
All the activities listed before will make your decision about finding your profitable niche a lot easier. Moreover, they will set your path to your successful online and affiliate marketing business.
I hope that this article today will help you to get some ideas about how to find the profitable niche for your successful online business and if you have any other questions, please do ask me, and I would be more than happy to help you out.
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The bonuses are:
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One more last thing!
Please if you liked this article leave a comment below and share it with friends. I will be very thankful for that.
With that in mind, I wish you a great day, and once again thanks for reading my blog post!
Stay Well, Market Better, Convert Best!