How To Find Profitable Niche Step-By-Step
Many beginner online marketers make the mistake of falling in love with a specfic product or
topic only to find out later they’re unable to make a profit. They spend months building a
website and promoting it then give up because it didn’t make them any money.
So how do you find a niche that’s profitable?
1. Choose a target audience
Ideally you want to find niche you love and there’s an interest and/or demand for it. For
instance say you choose “running” (one of my passions) as your niche. Already you know
there are millions of people that run to stay fit and they buy all kinds of accessories (ie running
shoes, socks, heart rate monitors, gloves, under armour, watches, sunglasses, foam rollers,
etc) to assist them with their sport.
People often buy based on emotion rather than needs. For example when you go
to a car lot the salesman may encourage you to drive a new car. You smell the new
upholstery, you feel the power, you love the color, love how it drives and imagine
the feeling when driving around your new car. You may not need the car but your
emotions override your need and you end up purchasing it.
Create a list of all the things you feel passionate about or have an interest in then prioritize
them in the order of which ones you love the most.
2. Narrow your niche
If your niche is too general people will lose interest because all topics will not interest
everyone. Narrowing your niche (ie sprinters, trail runners, joggers, etc) makes it easier to
decide what products to promote.
Even though you may choose “running” as your niche you’ll want to get more
specific. For instance you could target a specific age group (ie running after 50) or
gender (ie men in their 40s).
3. Research the popularity of your niche
The internet makes it easy to find people throughout the world who are interested in a specific
niche. One of the best ways to determine popularity is to use the free keyword research tool
Watch How To Use Wordtracker For Keyword Research
If you enter “running” as your base keyword in WordTracker’s search box you’ll see the
number of times these 10 keyword phrases are searched on every month across multiple
search engines. This means people are actively searching for information on those phrases.
running shoes 30,225
reebok running shoes 26,441
running shoe 13,278
running man 12,124
recreational running 6,866
cross country running 6,361
free running 2,001
best running shoes 1,948
walking vs running 829
You’ll notice the list also contains keywords
for potential products you could promote.
Here are some other places to find communities of people
who are currently talking or writing about your niche:
Google Plus Communities
Forums (Google “keyword+forum”)
Amazon Market Place
Blogs (Google “keyword + blog”)
You can determine the popularity of a blog post by the number of comments it receives.
Bookmark the blog if it received lots of comments so you don’t have to search for it again to
leave a comment.
4. Do market research to determine profitability
If there aren’t any products people are willing to spend their money on you won’t be able to
build a profitable business. Find out what products people are addicted to buying so you don’t
waste time and money on a product they won’t purchase.
Good running shoes are a necessity if you don’t want to get injured. Runners will
pay 100s of dollars to buy a decent pair, sometimes 2 pairs (like I did) because you
need new ones every 500 miles.
Here are some other locations to check for profitability:
Enter your main keyword in Google to see if advertisers are paying to have their ads
displayed (ie “running shoes”). Typically you’ll see these ads displayed at the top and right
hand side of the page.
Amazon Market Place
Research the Amazon market place to view the types of products and books that are selling
well. Studying the book titles will also give you great ideas when trying to write titles for your
own content and products.
ClickBank Market Place
This is a great place for promoting digital products in your niche. For example if you search
the clickbank market place and enter “youtube marketing” you’ll get a list of products you can
promote as an affiliate. Clickbank affiliates receive 50%-75% commissions.
Find high paying affiliate programs by visiting the publishers section of commission junction.
If you can’t find an affiliate program for your niche Google
“niche keyword + affiliate program” It just takes a little more digging.
5. Determine what high ticket item to sell on the backend
Instead of just earning small commissions from low priced products, research high ticket
items to generate higher commissions. Alternatively create your own signature product to sell
on the backend.
6. Create a free offer
Ask yourself “what free offer, ebook, report or video would get people to buy my backend
product?”. The purpose of your free offer is to get people on your list then follow up by
sending them a series of emails via your autoresponder so they will buy your backend
products. Your free report should focus on solving one pain point.
I send people who watch my free YouTube videos to a squeeze page to receive my
free e-course. In the follow-up emails I invite subscribers to purchase TubeVideo
BootCamp – a beginners course in YouTube Marketing
7. Create a series of follow-up emails
Before someone is ready to buy you need to contact them several times to build trust. After
getting people to fill out their name and email to receive your free report you need to follow-up
with them by sending new content every few days.
A girl won’t marry you if you ask for her hand in marriage on the first date. You first
need to date her over a period of time before she will trust you.
A similar process is required for building relationships with subscribers before they become
your customer. You first need to build a relationship with them before asking for the sale.
Use a professional autoresponder service such as Aweber to automatically schedule a series
of follow-up emails. Once you’ve set them up they can be sent “hands free.”
Watch My Aweber Review – 3 Secrets You Probably Wish You Knew!
8. Create an inexpensive product to sell
The purpose of creating an inexpensive product is to find people who want to buy what you
have to sell. Once someone purchases your product they’ll be more inclined to buy higher
Here are some ideas for creating an inexpensive product:
Ebook or Report
9. Plan your marketing funnel using reverse math
Once you know your numbers you’ll be able to create
a streamlined process for generating profits.
• It may take 10 inexpensive sales (ebooks)
to sell one high ticket item
• It may take ten opt-ins to sell an
inexpensive ebook, report or membership.
• It may take 30 visitors to get 10 opt ins
Now you can plan out your sales process:
300 visitors = 100 opt-ins = 10 ebooks = 1 high ticket item
So you need to generate 300 visitors a week from your blog, YouTube Videos, Facebook ads
or Social Media.
If you can get 30 cents a click from Facebook Ads then it will only cost $9.00 to get 100 clicks.
Be prepared to spend some money up front because your profits will mostly be generated
from backend sales.
10. Scale it up!
Once you’ve set-up your marketing funnel scale it up by choosing activities that generate
new customers. Every month your goal is to beat the month before so you make REAL
progress by increasing your profits.
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