Choosing a good niche can be as complicated and as simple as one makes it.
At the end of the day, the niche you choose will be of great importance as that will determine the products and services you will promote as well as the type of audience you will serve.
But do not fret! I will attempt to make it super easy for you to choose a niche and will break it down step-by-step at the end of this article.
My advice would be to first have a look at the marketplace you are interested in like Clickbank, Amazon, etc.
Go onto that platform and have a look: They will have categories. Each of these categories will be a niche.
When you drill down in a category you are moving to smaller niches.
Ideally, you do not want it to be too broad a niche.
Say you have Sport as your niche (way too broad), then you choose Golf (still too broad), then Golf clubs (better), and then perhaps down to a specific type of golf club.
There are arguments for choosing your niche according to your passion and there are arguments to choose your niche by not following your passion.
Why choose a niche that you are passionate about?
When you do marketing, you will need to write content and it makes life a lot easier to write about something you are knowledgeable about than extensively researching a topic.
This will become a chore especially if you are not including this product, course, or service in your own daily life.
It is the difference in shooting out content once a day or once a week and this is the other key: Consistency.
Being passionate about a topic or product will keep you motivated, have the words for your content just flow from your ‘pen’ and keep you much more consistent.
So how on Earth can there be an argument against it? Well, it is simple:
Why not choose a niche based on your passion?
In the online marketing scene, it is said that there are only 3 real money-making niches out there:
So rather sell something that is in demand and give the people what the people want.
It could also be that your interests do not fall within the scope of what the majority are interested in, and it would be counterproductive to make a business from an interest like: The fascinating texture of stones. (Just sucking something, that is boring to me, out of my thumb as an example. 😊)
Now, this also takes into consideration which business model you are interested in doing: Affiliate marketing, e-Commerce, Real estate, etc.
But taking all things into consideration: What is the easiest way to start a business online?
Looking at the different business models: affiliate marketing is arguably the easiest and most lucrative model to do.
Why? Because you have nothing more to do than refer others to their service, product, or online course.
When it comes to products: Digital products are arguably the best choice.
Why? Because physical products have shipping costs, manufacturing costs, storage costs, etc. This means that you can get between 4 to 10% commission for selling a product.
Digital products can earn you 75% commission or more and is no harder to sell than physical products.
Decide on your marketing strategy
You will also need to decide on how you would want to market to your audience.
Perhaps you want to get organic traffic through FaceBook, YouTube, Content marketing (SEO), etc. Or you could do pay advertising on different platforms and send traffic to a funnel or perhaps your website.
So what is the easiest and least amount of work?
Sending traffic to your funnel and doing paid advertising will be the quickest.
Please know that there is still hard work involved – online marketing is not a do 5 minutes of work and get paid out huge.
Now that I have opened the ‘work’ topic, let me briefly explain:
Can you make $1000 dollars a day for 30 minutes of work? Sure. But you need to have everything in place first.
It takes time getting everything set up and especially when starting out and depending on how you will market.
But once everything is in place and especially if you already have an e-mail list for your niche, it is a simple task to send traffic to your offer.
It does not end there: You will need to give value to your clients if you want to keep them as a client. A client on your e-mail list is a very valuable asset to have. Make fans out of them and they will take care of you as you do them.
Money follows value.
So let me put everything together in a simple step-by-step checklist:
- Decide which marketplace’s products you will start to promote
- Look at the categories of products that interests you
- Choose a subcategory for your niche
- Get a domain name that is broad: So if your niche is ‘Woodworking’ then perhaps try to get the domain: TheDIYGuy.com so you can also expand to other products as well. So do not let your domain name limit you.
There is your niche chosen as simple as that.
Doing this wisely will then open the door for creating your FaceBook (now called Meta) fan page and verifying your domain name with them, setting up a landing page, getting your e-mail swipes and newsletters in order for your autoresponder, etc.
When I started out, I had to change my domain name and website so many times, just because the niche vs. domain name just did not work together.
What about all the other stuff I talked about and that you needed to decide on?
Well, that is simply to help clarify the direction, audience, and business model you would like to pursue which will help you choose a marketplace that best fits your needs.
There is your start. Now build your online business!
If you do not know where to begin or what the next step is, you can have a look at my resource page with good information and everything you will need to build your online business right here: Online Business Resources
Understanding the basics of niche research is the cornerstone of any online business. In this live class, we will be breaking down the niche research process and show you exactly how to find a profitable niche for your online business.