The 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.
Don’t forget to download my free Nichefinder guide.