In internet marketing,
niche can be defined as a:
“specialized but profitable
corner of the market.”
Emphasis on specialized and profitable.
Finding a profitable niche is the most important step you’ll take in building your business online.
Yet many entrepreneurs don’t take the time required – or understand the vital components.
Learn how to find a niche that works for you, using these 3 vital keys!
• Passion
• Keywords
• Monetization
Passion
If your business is based around an interest or a skill about which you feel excitement, enthusiasm and downright passion, it will show through in your marketing. And that’s a good thing! Who wants to do business with someone who feels half-hearted about what they’re doing?
Be willing to do a “mind dump” of all your interests and skills, and see what jumps off the page. The question I posed to myself was “what do I really want to be when I grow up?”
Notice where you feel energy and where you don’t. If something really jazzes you, ask yourself what you actually know about it. What’s your experience? Do you have skills that are useful in this particular arena? Are there new skills you can learn to fit with what you already know?
As you address the question of how to find a niche, do not leave your passion behind!
Keywords
Once you have a sense of the direction you’re going, immediately start searching for keywords in your niche. You can use a free resource like Google Adwords Keyword Tool, take a trial run of Wordtracker, or use another keyword research tool.
However you choose to do it, you must look for keywords that have a high enough search volume combined with low
enough competition for you to survive. This is known as the “sweet spot.”
Really do some exploring with keyword possibilities in your niche. Be willing to go outside the box a bit, and don’t shy away from long tail keywords (less popular, and also less competitive).
As you narrow down your search for a profitable niche, do a little practical research, too.
Put those keywords into a search engine and see what they yield. Check out the blogs and websites that pop up on the page. Go into forums related to your keywords and notice what people are talking about. Note how the conversation does (or does not) fit with the niche you’re exploring.
Take time, shift gears, make adjustments. This type of research will prove to be invaluable.
Monetization
If you’re building a business and not a hobby, you must have a clear picture not only of how to find a niche, but how to monetize your niche as well.
Does it contain an element of coaching or consulting?
Can you create classes or courses?
Are there viable related affiliate programs?
Can you develop your own suitable information products?
Will you be adding an mlm product or service?
Related to your practical keyword research, notice how those blogs and websites monetize their niche. Develop a clear plan for monetization, that you can adjust and expand, as needed.
last words…
Finding a niche takes time, effort and careful consideration.
Clearly, all three of the components listed here work together. Rather than a three step process, it’s more of a back and forth relationship. Until all three components mesh well together, you haven’t yet found your niche.
In other words, don’t hang you hat on a niche until you’ve done your keyword research.
And make sure there are ways to bring home the bacon before you buy the pig.
Remember our definition of niche: “specialized but profitable corner of the market.”
Finding a vibrant, viable niche is the most important step you can take to build your business.
It’s also the first one.
Need a little help in this arena? Most of us do.
In tackling the issue of how to find a niche, many internet entrepreneurs are having good success using this powerful program: Market Samarai
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What a great resource!
Thank you! So glad you’ve found it to be helpful.