Welcome to what I like to call my very own Niche Picking Theory! A niche is nothing more than an audience and in this article we will be looking at how to pick a profitable niche for this audience…
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What is a Niche?
A niche is a distinct segment of a market – an audience. If someone hates the mirror and is looking to lose that ass they are looking into the weight loss niche. If someone is looking into a program to remove malware from their computer they are looking into the Virus Software niche…You get the picture!
A simple way to look at this is that every audience is a niche!
As a consumer you are involved in thousands of niches on a daily basis. You use your mobile phone, you get your car fixed, you buy products for the house – everything sits comfortably inside it’s own niche.
As a marketer you can tap into these niche categories and make money promoting the products involved with them.
So there is nothing confusing about a niche picking theory – ANYTHING with an audience is a potential niche for you to tap into.
How Can I Earn Money From My Niche?
One of the biggest questions you likely have if you are new to internet marketing is how to pick a profitable niche for your website.
I won’t beat around the bush – there are A LOT of responses to this question and a large portion of them are correct. But for the sake of this niche picking theory I’ll stick to the ones I’ve had the most success with.
Amazon.com ( Associates ) – This is probably the most popular choice for affiliate products online at the moment. By signing up with Amazon Associates you are able to promote MILLIONS of Amazon products and earn a small percentage of commission. This percentage of commission rises with the amount of items you are able to sell.
So once you have your website up and running you can simply type your chosen niche into the Amazon Associates search bar and watch as thousands of potential niche products are thrown at you.
For the sake of this niche picking theory lets say you are wanting to promote baby toys. Amazon will give you hundreds of thousands of product options but you don’t have to stop there!
Simply type the following search term into Google and see what comes up:
Baby Toys + Affiliate Products
Now that’s what I call choice right? There are so many different baby toy companies out there with products to promote it’s mind blowing. Each of them will have their own offers and their own levels of commission.
The key is getting your niche in place first and choosing your audience. My recommendation is to always choose a niche that you have an interest in as it will make the ‘work’ side of things a lot more enjoyable.
Choosing That Niche
Some of you reading this are going to struggle with picking a niche for some reason or another. Maybe your interests are to broad or maybe you have no real interests.
Amazon is a great place to go to come up with niche ideas. There are thousands of different categories that house millions of different products. These products can be potential niche choices for you.
Another pretty cool site to get some solid niche ideas from is called dmoz.org. This site acts as an open directory project and it’s a top place to visit if you are struggling with picking a niche.
The homepage of dmoz.org will provide you with high level, broad niches but if you pick one and click it you will quickly be taken down through sub-niche choices.
( dmoz.org snippet )
Basically DON’T pick a niche from the homepage selection of dmoz.org – they are far to generic.
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Niche Picking Psychology
I’d say that at this moment in time – the number one mistake I see bloggers make is picking the wrong niche and then trying to ride with it!
There are a number of reasons why a particular niche or topic could be the wrong one…
- The niche could be extremely popular therefore heavily diluted (competition)
- The blogger could have no REAL passion for the chosen niche subject
- The blogger doesn’t actually know enough about the niche to convince his/her audience
- The list goes on and on…
The only effective way I can provide tips on choosing the RIGHT niche is by highlighting a few scenarios on picking the WRONG niche. It sounds confusing but it’ll all make sense in the end…hopefully! 🙂
A lot of bloggers opt to base their blog on their passion – which is great…as long as there is actually some sort of money in that passion!
They pick the subject because they love it – but they didn’t bother to check if it could ever be lucrative.
About 12 to 16 months later they realize they are making no more than $100 a month from a blog they’ve worked their ass off on.
The bills keep rolling in and the kids are nagging about that new Xbox game – $100 a month just ain’t gonna cut the mustard I’m afraid!
Sure, it may be fulfilling to write about a subject you adore…but here’s a fact – money makes the world go round and bills generally need to be paid (otherwise you end up in the slammer…which is another story…).
Okay, this is by far the most common mistake I see newbies making…and I don’t see it changing anytime soon!
Disclosure – I actually made this incredibly stupid mistake when I first started out blogging!!!!
This scenario involves a blogger who decides to pick a niche because they know it’s a lucrative subject and they think they can follow the gravy train.
About six months down the line they dread getting up in the morning and writing about this dull and lifeless subject. Their followers start to notice the lack of enthusiasm in thier writing and slowly start to disappear.
When your heart is not in something it will always show through in the end – no matter how good a liar you feel you are (believe me – I’ve been there!).
Think about this for a minute – the niche you pick is the subject you are going to be writing about for the next several years…make sure it’s a passion and make sure you have researched it first!
It may be something you love – but has anyone actually made money from it before? Do you have a chance of reaching financial freedom with it?
How to Pick a Profitable Niche for Promoting
Regardless of any niche that you get into there will ALWAYS be some sort of affiliate program involved with that niche.
If you do manage to be in the 1% that pick a niche with no affiliate products you can always turn to advertising as a means of monetizing your website.
These adverts will automatically promote closely related subjects to your niche and can make you a lot of money in some cases.
If you have any questions regarding the simple niche picking theory I have offered here today please leave them in the comment section below.
Thanks for stopping by…and good luck!