How To Pick A Profitable Niche For Your Online Business

How To Pick A Profitable Niche For Your Online Business

How To Pick A Profitable Niche For Your Online Business


Choosing a niche is an essential first step in building your brand and establishing your online presence. This specialized audience will be the focus of your marketing plan moving forward. A narrowly focused niche is better than a broad one. For example, if you love dogs, you’ll want to create a website devoted to this interest, but narrowing it down even further. Keep reading to learn how to pick a profitable niche for your online business.

fluffy dog

For example, you could choose a niche having to do with service dogs, or a specific breed of dog, or your focus could be tasty, home-made dog treat recipes, or grooming tips. See where I’m going with this?

What Is A Niche Anyway?


A niche is a specialized, well-defined group of potential customers with specific needs. People within this distinct group will be who you will target your products and services to. Identifying this group, along with their needs, will be the basis of your marketing.

Focusing on one particular audience to serve is more effective than trying to determine the needs of multiple groups. It’s far easier to concentrate your efforts in one area than to cast a wide net that encompasses a range of markets. This way you can hone in on the various products and services that will meet your chosen niche’s needs.

The Importance Of Choosing A Niche


Having a niche essentially positions you as a specialist, not only in terms of your expertise, but also in determining and meeting the needs of your target market. It would be exhausting and ineffective to be a specialist in many areas. Make life easier on yourself, and choose a targeted niche in which you can become an expert.

This makes good business sense, which is the ultimate goal of choosing a niche in the first place. Select niches allow for increased visibility, which will help establish your brand, improving your online presence. Stand out, be unique, and broadcast what you have to offer to the perfect audience. Finding the right niche will be a factor in the success of your business.

How To Choose A Niche


The first step in choosing a niche is to identify what industries or topics capture your interest. What are you passionate about, and what are your unique gifts? How about your area of expertise? What would you like to learn more about? Don’t choose a niche in which you have little interest, or you’ll find it hard to create engaging content. If you’re bored with your niche, you won’t be able to summon the motivation to make it grow!

Begin my brainstorming possible niches that may be a fit. Write down any and every idea that comes to mind. Does one idea spark your interest more than another? If so, keep that idea at the top of the list. Gradually narrow down your ideas to just a few potential choices.

This foundational step precludes your success in the future so take care choosing a niche that feels right. Having said that, at some point just make a decision. If you decide to change your niche at some point that’s not the end of the world.

Profitability And Competition


Another pertinent question to ask is this: “Is there a need for my service, and is my niche market willing and able to pay for it?” People will pay for your expertise and products if they solve an existing problem or fill a need. Determine what solutions you can offer and in what way.

For example, let’s say your niche is teaching online sewing tutorials. Is this something you enjoy doing? Do you have expertise in this area, and are you willing to put in the time it takes to create tutorials? Continue narrowing down your ideas by answering these questions.

Anticipate your competition. You don’t necessarily need to choose a niche where there is little competition. On the contrary, competition is a good thing. What products are businesses with similar niches selling, and what services are they offering? It’s helpful to do some keyword research at this point.

I use Jaaxy but there are other keyword tools out there, including Uber Suggest and Google AdWords Keyword Planner. If the niche you’re considering has thousands of searches per month, that’s a good indication you’ve chosen a competitive niche.

[Read More: Jaaxy Keyword Research Tool Review]

Affiliate Marketing Networks


Now ask yourself what the profit potential is for each niche you’ve selected. Check out affiliate marketing sites like ShareASale, Commission Junction, and Clickbank. What products are available related to your potential niche? Are there a variety of products that you’ll be able to offer? If so, this is a clue you’re chosen a profitable demographic.

These considerations and questions should help you narrow down your choices to just one! Yay! Your next task is to choose a domain name based on your niche. From there you’ll want to choose a website platform in order to design your site.

Examples Of Niches


  • Health industry – low-carb recipes for diabetics – natural menopause protocols – how to combat hair loss – safe foods for children with autism – detoxification strategies for cancer patients
  • Women’s clothing: Business-casual clothing – active wear – formal attire
  • Exercise: back pain – interval training – body building – stretching techniques for better posture
  • Food: gluten-free recipes – how to ferment – the art of bread making – juicing recipes to die for
  • Online marketing: the best ways to make money online – blogging made easy – affiliate marketing
  • Animals: dog training – clothes and accessories for canines – DIY dog grooming
  • Crafts: crochet for beginners – easy crafts for kids – fun seasonal crafts – pillow patterns and idea
  • Relationships: marriage counseling – online dating over 40 – parenting strategies for single parents

How To Get Started Online


Wealthy Affiliate is an incredible affiliate marketing platform if you’re looking to build an online business. The certification course will teach you the skills you’ll need to build a sustainable and profitable business. Read my review here for more details or click the banner below to create your free account. There’s absolutely no risk to get started!
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Key Points


Choosing a niche that you are passionate about is the first step toward becoming successful online. Your niche choice, along with consistent hard work, can turn your online efforts into a profitable business.

Narrow your choice down to a specialized market that will appreciate and buy what you have to offer, and you are well on your way to earning money online.

Are you in the process of choosing a niche? Let me know in the comments:)

 

 

 

 

8 thoughts on “How To Pick A Profitable Niche For Your Online Business”

  1. Hi Holly!

    Love the post! You have broken down the affiliate marketing process very well and your information is interesting and easy to digest. You’ve done a great job of covering the topic and formatting your text so it is easy to follow and makes sense for those who just want to skim for time’s sake – tho, I hope they don’t! They will be missing out if they do!

    Would love to know what affiliate programs you are working with currently and why you have selected them.

    In the meantime, your blog is serving up quality content and value. I look forward to reading more from you!!

    • Thanks for reading my post Joyce. I work with Amazon Associates, Clickbank, ShareASale, CJ Publishers, Flexoffers, and a few individual affiliate programs. I especially like the affiliate marketing networks like CJ Publishers, Flexoffers, and ShareASale because all the merchants are in one easy-to-access location, making it super convenient. 

      I appreciate your comment!

  2. Dear Holly,

    When I started my blogging career in order to choose my niche, I took 2 months and struggled a lot. How I wish I had found your post sooner when I first started! I had to go through the old way of trial & error.

    Beginners always struggle in finding their niche. In this helpful and informative post you have provided valuable advice on choosing a niche. The video you embedded is very helpful. Indeed, following our passion and choosing what we love is the main thing in niche selection.

    I found great insights from your post. This post is highly uplifting and educational and I strongly believe this post is going to save people time, effort and it will be a greater help to newbies .

    Much Success!

    Paul

    • Thank you Paul!

      I’m sorry you struggled with finding your niche. It can be hard in the beginning if you don’t have some idea of what you’d like it to be. I think it’s normal for beginners to struggle initially.

      It’s important to chose a niche you have an interest in, otherwise it will be difficult to create content on a consistent basis. It’s more enjoyable to write about something you have expertise in or at least would like to learn more about. I have found this to be true for me. 

      Thanks for taking the time to leave a comment. 

  3. A very concise article.  You covered the topic well and I found the information you provided about Wealthy Affiliate interesting. For me, there was no question of what my niche would be. I figured this out during the first part of my training, although it wasn’t my first site.  

    I started two websites at the same time, and found myself buying the .com domain for the second and working with it. For me, acoustic guitars are things of beauty and I love playing them, though, I haven’t been practicing as much as I should. There is nothing like them.  

    Sometimes it can be as simple as that, but I still need to generate traffic and sales.  But I think the key, and you touched on it for sure, is how one feels about a subject.  If one really loves the niche they will persevere, in part, because it isn’t really work to write about something you enjoy. Rather, it’s fun!  And I believe that interest will ultimately translate, and the customers will feel it, and be moved to take action themselves.

    I got a sense of this in your post. It has moved me to wish you the best!

    • Hi Stanley,

      It’s nice to hear you knew what your niche would be. I had a general sense, but had to keep narrowing it down, although I did decide quickly in the first part of the training as did you. 

      I started three websites at the same time, which may not have been a great idea, but now that they’re somewhat established, I’m glad I have them. 

      That’s awesome you love acoustic guitars, and what a fantastic niche. It’s so vital to have an interest before choosing a niche, because down the road like you said, it will result in traffic, conversions, and sales.

      Thanks fo reading!

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