How To Find Profitable Niche Ideas – Made Easy

profitable niche ideasThe surest way to success online is with a profitable niche idea.  But how do you go about finding a niche idea and know if it will be profitable online?

Ideally you want to find a niche that you have a fond interest in, that isn’t overly saturated yet will generate enough interest that you can profit from it.

Here’s an exercise that will help you zone in on a niche and then determine it’s popularly and profitability.

Let’s take for example the topic ‘cooking’. Cooking itself is a hugely broad topic and not ideal as a niche focus.  That’s because if you try to build a site around ‘cooking’ in general it’s hard to know what people want when coming to your site.  It’s also hard to know what information they are looking for.  If you take a more focused approach by drilling down to a specific topic within cooking, you’ll find it easier to give your visitor more of what they are looking for.

To help you see what I mean, let’s drill down to see what specific niches there are related to cooking.

You’ll need to start with a good keyword tool.  The Google free keyword tool is a perfectly good place to start if you’re trying to get a general idea, unfortunately Google falls a little short on accuracy. When I need more professional accuracy I useWordtracker.  Since I’ll use Wordtracker for this example, you can get the free trial of Wordtracker here if you’d like to follow along using the tool.

As of the time of this writing, this is what Wordtracker displayed when entering the keyword ‘cooking’:

  • vegan cooking
  • vegetarian cooking
  • diabetic cooking
  • pet cooking
  • healthy cooking
  • crock pot cooking
  • slow cooking
  • cooking for kids

This turned up some interesting cooking categories to think about which would be ideal for creating a ‘cooking’ niche site.

‘Pet cooking’ looks interesting so entering ‘pet cooking’ gave me these results:

  • Making your own dog treats
  • Diet dog foods
  • Homemade dog food
  • Vegan dog food
  • Dog food for the diabetic dog
  • Grain free dog food recipes
  • Holistic dog food recipes

Pet cooking is a great idea for a niche site or blog. Someone looking for information on how to cook for their pets or what to cook for their pets or dogs would most likely find lots of useful information on a site that included information from the list above.  Incidentally this list would make excellent categories for a pet cooking site.

Need More ideas?…

===> Grab a copy of my free Nichefinder guide!  This is a free PDF download I put together to show you where people spend their money online and how to recognize the popular, profitable niche ideas.

Find Niche Ideas Around the Magazine Counter

Magazines are an awesome way to pick niches. Magazines in and of themselves are great niches.

Just look around, what do you see?   Magazines for Entrepreneurs, flatter abs, cooking, hair styles, parenting, runners, horses, travel and the list goes on.  These are the very things people are reading and want to find out about.   In each of those magazines there are headlines and articles.   Each one of those articles is a sub-niche of interest.

If there’s a magazine on a topic, there’s money in that market because magazines make money off advertisers and advertisers wouldn’t be advertising in a magazine that didn’t have buyers.

But How do you know if your niche idea will be profitable?

Don’t automatically assume that because you love a niche idea that it will be profitable.  Chances are it will be, but you’ll want to be sure before you put significant time and effort into creating a site or blog.

The beauty of the internet is that you have all this information right in front of you, all you have to do is a little research.  Here are a few things to start with:

Check your niche against sites like eBay and Amazon.com

Get on eBay and Amazon and look at the products people are buying related to your niche.  This tells you if your niche is capable of making money.

Look for ads in your niche

Next, look at the product ads.  When you type your keywords into Google search, do you see ads displayed to the right of the listing?  If there are advertisers for the niche, then it’s making money.  In fact if you look at ads for women’s running shoes you’ll see lots of ads.

At this point one thing that concerns people is the fact that lots of ads may mean lots of competition.

It is true that some niches are more competitive than others and, obviously you don’t want to be competing against a lot of heavy hitters, however don’t be afraid of competition. You want to see competition in a niche. If you aren’t seeing competition, it often means that others have found it difficult to make money in the niche.

Although if you have found, through doing your keyword research, that there is interest in your niche topic, then finding few competitors could mean a real gold mine for you.

Tip:  If a niche product has lots of advertising, this is a good sign the niche is very profitable and people are making lots of money with it.

Use These Keyword Qualifiers to find Profitable Niche ideas

Another way to help you know what products or services people are searching for in a particular niche is to use these keyword research qualifiers.  Simply precede your niche keyword with these words to see what kind of search counts come up.

  • get
  • buy
  • find
  • purchase
  • coupons
  • comparison
  • review

Don’t forget to download my free Nichefinder guide.

Enjoy!

 

 

Comments

  1. I wish I had know how to drill down to a less competitive niche, when I started. This article will help a lot of people. So I tweeted it.

  2. Scott Hubbard says:

    Excellent article. One of the most important factors in achieving success in internet marketing is to stand out in a crowd. As you say, trying to promote your product or service to the masses is a big mistake.

    It is sometimes difficult to narrow down the market you are targeting. But by identifying a more narrowly defined market, you can more easily learn about that market. You can learn what questions are not being answered. You can identify specific needs that are not being filled.

    If your marketing campaign is based on education and answering the questions that the people in your market are asking, you can build up a relationship of trust with them. Thanks for the article.

  3. All the major search engines, Google, Yahoo, MSN and also dogpile and metacrawler.

  4. Adam, I don’t recommend necessarily going with less competitive niches. Go with a niche that you like or a niche that you know about. Succeeding with your niche is more about finding the right keywords, getting backlinks for those keywords and optimizing your site for those words. If you can’t get those right it won’t matter how competitive the niche is, you won’t rank well.

    Here’s what I do to find profitable niche ideas. Once you settle on a niche that you like here’s how to find the less competitive keywords. Hope that helps :-)

  5. Robert David Strong says:

    Hey Liz,

    This was a great post and very interesting to see you break it down as you did and use the free tools that are available to anyone that is willing to take the action and use them. I see so many people and I used to be one of them that used to the very top level keywords and try to rank for them and felt so frustrated over time as with so much competition it is very hard.

    If someone wants to really make a dent in this or any industry they really need to follow this post step by step and go after the smaller niches and start dominating those markets!

    Thank you for the great post!

  6. Hi Liz,

    Fantastic post. So true, when you identify your niche, your “market within the market”, and you take your message to that market – that’s when you are going to get the best return on your marketing efforts and dollars.

    Thanks for sharing.

    All the best,
    Mavis Nong

  7. Oliver Tausend says:

    Hi Liz,

    excellent way of breaking it down, from the general term to a very precise keyword phrase. We really have to think from the potential customer.

    Thanks for sharing your insights.

    Take care

    Oliver

  8. Heather C Stephens says:

    Hi Liz!

    I love how you approached your keyword research in this post. Keyword research is not my strength. It’s one of those things I KNOW I need to do but I don’t WANT to do so I end up making it a bigger job in my head than it is. I’ll have to give wordtracker a try and see what it’s all about.

    Thanks for the clear explanation.

    Heather

    • Heather, keyword research isn’t one of my favorite things to do either but doing it has put some of my posts and articles on the first page of Google, hence bringing me extra sales.

  9. Marcus Baker says:

    Hi Liz,

    I love the way you broke this down by an example. I always tell myself I don’t like keyword research but once I get started, it’s hard to let go. I particularly liked your line,

    “Don’t be discouraged by the low number, these are actually people ready to buy, so that’s a clear indication you’ve got a niche that you stand to profit from. ”

    This is exactly what drilling down is all about. Sometimes we fool ourselves into thinking that we have to use keywords that a huge number of searches but the problem is these are hardly ever profitable. Finding fewer people who are ready to buy is what it’s all about.

    ~Marcus

  10. TommyDiPietro says:

    Hey Liz,

    Great tips that are very useful.

    I like to take it further by using the words I pick and plugging them into the
    Google Wonderwheel. Also if you check the words you use in the Google
    search engine, at the bottom they suggest additional words.

    Tommy D.

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