Okay, so you want to be an affiliate marketer and start your online business. But how do you find your niche market?
Choosing a niche market has got to be one of the stumbling blocks faced by many others who are in the same boat as you.
To start those ideas running, there are a few places you can check to see what people are buying and what people are interested in. We will talk about how to find niche markets, checking your competition and evaluating your niche.
If you have any questions or want to offer you own personal review or feedback, feel free to share any insights you have at the bottom of this page.
What is a niche market?
Every market can be segmented further based on specific needs and preference of people in those groups. This includes their demographics (age, gender, income, etc.), geographical location, as well as their interests and values.
A niche market is a subset of a much bigger market with specific needs or preference. As it is highly specialized, the needs may be different from the bigger market.
Let’s take women’s bags as an example. There are different niches or segments.that we can take into account. Baby or nappy bags for mothers is a niche market, as well as bags made out of recycled materials for those who are eco-friendly, laptop bags, travel bags or even cosmetic bags. The list goes on.
It’s so much easier to cater to a particular audience rather than such a broad group. If you understand their needs, you can better tailor your offerings to suit their particular needs. Focusing on a niche market also allows you to benefit from less competition.
Choosing niche markets: What makes a niche good?
Before we move further, keep in mind that good niches are not saturated. All you need is time, effort and to offer something of value. Look at ways you can improve what is currently being done in that niche and don’t give up easily.
You might also want to take advantage of niche markets with a proven track record, lots of customers looking to spend money, and with lots of products to choose from. These are called evergreen niches. They can make money year after year and can offer a potential for long-term profit.
So now that you understand what a niche market is, let’s go over some tips to help you get started on the right foot.
1. Look at problems you can address
There’s a lot of challenges around us, and given your education or experience, what are pain points you think you can solve?
Start by asking yourself: What are your daily struggles and challenges? More often than not, there are other people who are going through the same thing.
I suggest that you write it all down. This will help you a lot.
You can also talk to family and friends, do some research about your potential target audience, and then you can also look at forums because just by doing that, I assure you that you will already start to spark several ideas. Don’t forget to write all your ideas down.
2. Look at your interests and passion
I think this is very important. You have to choose a topic that you’re interested in or something that you would like to learn more of. And honestly, you don’t have to be an expert to begin with.
Write down what you’re interested in, and those topics that you know a lot about.
You will be so immersed in this topic because you will do some research, write about it, talk to people about it, and just spend so much time thinking about it. So if you’re not interested in it, at some point, your interest will dwindle which won’t really help you with your online business.
Some people choose a niche for money. Personally, I will go for a niche I’m passionate about and at the same time check if it could be profitable.
If you want ideas, I would suggest looking at:
- Amazon and Amazon Best Sellers – This allows you to see the top-selling products in Amazon across categories.
- Clickbank – Similar to Amazon, there are various categories that you can look at to see what’s out there.
- List of hobbies
Then, look back at the list you have so far and check which one others would be interested in, which one would make people happy, and which ones they spend money on.
3. Check your competition
Like any business, I think it’s good to do some due diligence before you start anything. Research your competition so that you can see what consumers are researching and how you can meet their needs. I recommend that you consider working on the following:
- Conduct keyword research. This will help you understand how many and what other websites are in the market and how they are helping your target audience. Choose keywords where you have low competition. Look at the number of people searching for your niche market.
- Examine market trends. I’ve found Google Trends to be a very helpful resource. It will help you understand trending topics and you can also filter by location. Let’s take an example. One of the things I see here now is Game of Thrones. You can probably have a website around Game of Thrones memorabilia for all its avid fans. However, since the show is down to the last few episodes, I’m not sure if this niche market will last for years (if they come up with a pre-quel, then that’s probably another story). A Star Wars collection is probably a better idea if you want a niche market that will last for many, many years.
- Look at websites for sale. This again gives you an indication of established online businesses in the market. You can head out to Flippa to look at niche examples. It will also give you an idea of how profitable they have been and how much search engine traffic they are getting.
4. Evaluate your niche
When you create your website, make sure that you engage your website visitors and look at the comments they provide. You can also look at your website’s analytics report. This will let you know a lot of things like what keywords drive people to your site, which posts drive traffic, and even which social media channels bring traffic to your website.
When you have a good number of website visitors, you can also explore creating a landing page or a mailing list so you can better connect with your target audience. You can even have a freebie like an e book or a few lessons sent via email.
Bringing it all together
In summary, you don’t really need to reinvent the wheel. So how do you find a niche market? You can start by looking at established niches and then look at how to narrow it down further. The more specific you are, the better you can focus on the needs and wants of your target audience, and at the same time operate with less competition.
There’s no better time to start being an affiliate marketer and focusing on a niche market. It is not saturated and you just need to do your research.
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If you have any questions or any feedback, please leave them below and I will be more than happy to help. Hope you enjoyed reading this!