A Profitable Niche for your blog or website says lot about your website, and a poor Niche can also affect your profits and the rest of it, in this article we are going to give you an example of the kind of niche you should choose while creating your website.
I'm thrilled to see that you're still with us and you're a true hustler and you're are going to level it with this 30 day challenge
Today you're going to learn the basics of proper niche research. I'm going to warn you, this is a fairly long email but it's probably the most important one. DO NOT SKIP THIS! The official definition of the word niche is as follows:
And specialized but profitable corner of the market.
In other words, it's basically a topic for your website that has potential to make money. Niche research is definitely one of the most important steps when it comes to starting your online business, but don't get stuck trying to find the and perfect niche. One advice I'll give you is that once you start, you will always beat the person who have just started.
Here are the six things you should look at when choosing your niche:
1. Is the niche evergreen?
An evergreen niche is something that is not seasonal and will likely never go out of fashion.
How do you know what's evergreen? A combination of Google Trends and common sense.
Put your topic into Google Trends and see what the graph looks like in the long-term. If it's growing perfect! If it's dropping a tiny bit over time, no problem. If you see massive ups and downs you should probably avoid it.
Here is an example of a horrible niche to get into: hard drive reviews.
Hard drives got replaced by solid state drives and thus, they are irrelevant in the market. Of course, people are still buying them but the market will just keep declining until it's completely not useful.
Here's an example of an evergreen niche and something that will never disappear: best mattress
We all need sleep and for that, we need a proper mattress. It's highly unlikely that mattresses will be replaced with new technology in the next 20-30 years, so its pretty safe to call our niche evergreen.
2. What are the product prices in the niche?
The Amazon Associates program is going to give us anywhere between 6 to 8,5% commission for every sale we manage to get them.
If we decide to start selling 5 dollar earphones, we would have to sell 2,500+ pairs every month just to make a thousand dollars!
Selling that kind of volume as a beginner is extremely difficult and wouldn't be worth your time.
The perfect niche would have:
- A few entry level products and accessories at $50-100
- The majority of its products priced between $100-300
- Some high-end options priced $500+
This ensures that there's always a choice for your visitors, no matter their demographic.
3. Does Amazon limit the advertising fees for your product category?
In general, the commission Amazon gives you depends on the amount of products you're able to sell every month.
For some categories, such as electronic products and office products, the advertising fees are strictly capped at 4%.
You want to make sure that the products in your niche are not capped as it will severely limit your earnings potential. You can see the full list and explanations by clicking here.
It's also important to know that not everything electronic is categorized under electronics on Amazon.
For example, I would've guessed that a digital bathroom scale and headphones would classify as electronics, but was still able to get 6-7% commissions from them.
4. Do you have an interest in the niche?
This is the most common mistake beginners make and a big one.
It's also why in my last email, I asked you to list down all of your hobbies, passions and interests.
When you're just starting out, you probably will not have the money to outsource everything ranging from content creation to marketing the site.
If you don't care about the niche and you want to learn about it, writing the content will be a boring struggle, promoting the site even more so.
I've started over 40 different websites in the past 8 years and the only ones that have succeeded are the ones I had a genuine interest in or deep knowledge about.
5. Is the niche popular enough?
It sucks to start a new business only to realize that the potential of the venture is only a few hundred dollars per month.
We're going to get deeper into the numbers tomorrow, but there's a really easy rule I follow to pre-qualify niches.
The general keyword should have at least 20 products on Amazon with a minimum of 50 reviews on each product.
Let's use the example from above, bathroom scales.
Head over to the Amazon best-sellers list and search for bathroom scale.
On the first page alone I was able to quickly find 20 products with a minimum of 50 reviews.
For smaller niches, you can go through the first 5 pages and if there's at least 20 products with 50 reviews and you've got the green light to move forward!
6. Is the niche broad enough?
As I told you in the beginning, we're looking to build a real online business, not just a quick money maker.
If you limit yourself with a niche like bathroom scale reviews you will quickly reach the limits of that and will be forced to start a new business
Instead, you would build your website around the niche of losing weight, where bathroom scale reviews would be a part of one blog post (measuring your progress) and other posts would focus on losing weight and other products in that niche.
That's all for day three!
Your job for the day is to go through your list of passions, hobbies, interests and start listing products in that niche.
Here's an example of what one of our students wrote down.
- Weight lifting gloves
- Weight lifting boots
- Weight lifting belts
- Whey protein
- Soy protein
- Preworkout supplements
- Adjustable dumbbells
- Acoustic guitars
- Electric guitars
- DJ kits/sets
- Digital pianos
- Extreme sports
- Mountain bikes
Mountain bike helmets
Mountain bike protection gear
Scuba diving watch
Scuba diving wetsuit
White noise machine
This is just a quick list of examples based on what he's interested in to show you the brainstorming style.
The more of these you can write down, the easier it will be for you tomorrow!
Tomorrow we're going to start using some tools to actually decide upon one niche and do some more advanced research to make sure it's a good choice.
This is our yesterday's topic on making a choice in choosing a profitable niche.
Day 1 - Choosing A Profitable Niche and why you should choose an Amazon Affiliate.
I'm super glad you've decided to stick with the challenge.
Today, I wanted to give you my personal guarantee and word that this challenge will be the best investment of your time, ever.
In the past 9 years I've had dozens of friends, readers and even family members come up to me, asking for advice on starting an online business.
Because of this, I eventually started doing business coaching for people I saw a lot of potential in. That was essentially the first version of the challenge you following today.
The business model we're going to be following is very simple.
We're going to do some research about different products listed on Amazon and their competition, the amount of traffic we can generate in the industry and other things.
Then we will create a website reviewing some of the products in that industry as well as writing buyer's guides and purely educational content.
Everyone interested in actually buying these products will be sent to Amazon.com, who will give us a commission between of 10% of the advertising fees.
Why Amazon Affiliates?
There's quite a few reasons for it, but here's a quick summary:
They're trustworthy - everyone trusts Amazon and you know none of your readers will be screwed over.
You've got a 24-hour cookie - if a reader clicks on your Amazon links, they'll be tagged for 24 hours and everything they buy in those 24 hours, you'll get commission for. You can promote a paintball gun or a book but if the person decides to buy furniture for their entire house that same day, you'll also get commission for that.
Amazon converts like crazy - they're the biggest E-Commerce store out there and have turned selling into a science. 10% of the clicks I send to Amazon end in a sale within 24 hours.
You don't have to deal with support or products - you don't sell anything, Amazon does. They handle the shipping, customer support, product sourcing and God knows what else!
How are we going to get these people?
We'll get to that in future lessons but that's largely what separates this from the hundreds of other online courses you've read. All of the traffic generation methods we'll be using are out of the box and most importantly, they're 100% free.
Keep in mind that we're trying to build a long-term, sustainable business here. We won't be doing anything shady like buying backlinks. Your challenge for today is to list down everything you're passionate about and start by doing keyword research.
Whether it's lifting weights or writing poems, it doesn't matter. Write it all down and ask some friends what they think!
Tomorrow, we're going to get our hands dirty and start doing research on what niche (industry) to start our website in.
If you want to give yourself an unfair advantage and save a lot of time check out the paid version of Jungle Scout its incredible.