Niche market, is a focused and targetable portion (subset) of a market sector.
So, you want to start an Affiliate Marketing Business. One of the first and most challenging decisions you have to make is what market niche you are going to choose. And, quite honestly, this could be very tricky. You could sit down and list all of your interests and passions and still come away feeling like you didn’t discover the singular thing you were meant to do.
Definitely, you are going to want to do your due your diligence in selecting a viable niche for your business. But it will actually be better to get up and running sooner than later. This way, it enables you to enter the market sooner, test out your ideas, and learn from your successes and/or failures. Also, if your first business isn’t successful, you can take what you have learned from those first attempts move forward with new and improved ideas.
If you’re struggling to make a decision or if you need more information to work with, you can use the following five steps to help you find your niche.
1. Determine Your Passions And Interests
Maybe you have already done this, but if you haven’t, you should first make a list of your top 10 topical interests and passion areas. Starting an online business isn’t easy and more than likely early on it is going to test you. Especially if you are a first time online business owner, it is important to work in an area you care about. If you don’t, the odds of you quitting will greatly increase. You may not find the absolute perfect fit, but if you are passionate about some aspect of running the business, you are more than likely stick with it. If you don’t care about the chosen topic, you probably will not find the drive within yourself to persevere.
Here are a few questions to ask yourself to help you determine what your interests and passions are:
– How do you like to spend your free time?
– What do you look forward to doing when you aren’t actually doing it?
– What magazines do you subscribe to?
– What types of books do you like read?
– What topics would you like to learn about most?
– What clubs or organizations do you belong to?
2. Determine Challenges And/Or Problems Your Customers May Have
You have identified and listed your top 10 topical interests and passions. You are now ready to start narrowing down your potential choices. To create your profitable online business, you first need to determine the challenges and problems your target customers are experiencing. More importantly you will then need to determine whether or not you can actually solve them. Here are several ways you can identify the challenges and/or problems in specific niches:
– Attempt to have one-on-one conversations or idea exchange sessions with your target market. Make sure to find or create a plan for asking the questions that will help you uncover your customer’s challenges or complaints.
– Read and participate in forums. Search sites like Quora or find forums that are related to your niche. Then take a look at the actual discussions that are taking place. What kinds questions are the participants asking? Also, what challenges or problems do they have?
– Research keywords. Explore different keywords and keyword combinations on the many online sources. I would also recommend that you check out my review on JAAXY, the most powerful keyword tool available. This will help you to uncover popular search terms related to your customer’s challenges or complaints.
3. Research And Study Your Competition
The presence of strong competition can be a good thing. It can actually show you that you have found a popular and profitable niche. However, it is also important that you do a thorough analysis of your competition’s websites. You may want to create a spreadsheet and log all of the competing websites you can find. You will then need figure out whether or not there is an opportunity to stand out in the crowd. Are you able to rank with your keywords? Is it possible to differentiate yourself and create a unique offer for your potential customers? Here are several signs to look for that help you to decide whether or not you can enter a niche and be successful. That is even if there may already be other sites serving that particular niche.
– Low quality content. It’s very possible to outrank your competition in a specific niche where the other business owners are not creating unique and high quality content that serves your given audience.
– Lack of authenticity or transparency. Many online entrepreneurs have shaken up entire industries by creating an authentic and transparent presence in a particular niche where other sites may be lacking in character and/or overly corporate.
– Lack of paid competition. If you can find a keyword that has relatively high search volume and also very little competition with paid advertising, an opportunity definitely exists for you to challenge the market.
4. Determine The Potential Profitability Of Your Chosen Niche
Now you should have a pretty good idea of what niche you are going to get involved with. It is possible that you haven’t narrowed the list down to a single topic area, but you probably have found a few ideas that you feel real good about. Now at this point, it’s important to get an idea of how much money you can potentially make in your chosen niche. ClickBank is a great place to go to that search. First you browse top products in your category. If you don’t find any offers, that is not a good sign. It could mean that no one has been able to monetize that niche.
If your search turns up a good amount of products, but not an overly large amount of products, then you are in luck. Next, make note of price points so that you will be able price your own products in a competitive way. Also, keep in mind that you need to start your business with your own product offering. You can partner with product creators, website owners, and advertisers in your niche to begin generating commissions while you are working on your own specific solution.
5. Take Action
Please do keep in mind that there potentially is not a perfect procedure for finding an online affiliate niche. However, you are now armed and dangerous. You have all of the information you need to help you choose your niche. And once you have confirmed the viability of a niche, you can start developing a full-fledged website.
Lastly, please check out my review on Wealthy Affiliate, the number one Affiliate Marketing Training Program in the world. You have the opportunity to build a lucrative online business from scratch. No experience or technical knowledge is necessary. The approach that is taken at Wealthy Affiliate is that they assume that anyone can create a phenomenally successful and long term online business from scratch. All you provide is hard work and the determination to learn, the tools will be provided.
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