How to Find a Niche for Online Business?
Finding a niche for a business is the most important part of building a successful online business. Niche, which is pronounced as "neesh" or "nitch" (whatever), means a segment in a market.
A segment in a market is a broad meaning. It is as broad as Electronics, but as narrow as iPhone cases. Even pets care, selfie sticks, cameras or computer components are niches. You name it. Actually, everything you can buy could be a niche. Keep this in mind.
However, a profitable niche for an online business is far from EASY. I mean, you cannot randomly pick a niche you love and then build a business with it. This is totally not for newbies. Even experts want to find some low competitive niches to make more money.
Therefore, you should learn how to find a profitable niche.
What Is a Profitable Niche?
A profitable niche is a niche that really makes you money. To fulfill the requirement of a "Profitable" niche, you should follow the criteria below.
- The niche is being searched at the search engine. Some niches are barely total of 500 people searches in a month. You will be really hard to make money with it unless you capture all the visitors. If you want to know what kind of niche is profitable, use keyword tools to see whether a particular keyword has over 800-1000 searches per month. There is a keyword tool suggestion below.
- The niche is in low competition. Even there are 20,000 of searches per month for one keyword, if there are over 50 authority website there, you are probably not ranking high enough to make money. Go to browse around Google to see whether your niche has many authority competitors.
- Affiliate programs exist for your niche. If you are working with a niche that doesn't really have platforms selling products, then you shouldn't work with it as you won't make any money. Just see whether ClickBank, Amazon and eBay consist any affiliate program for your niche. If one of them has products of your niche, then you are good to pick.
- (Optional) Determine whether the niche is necessity or not. This is not a MUST to follow. However, there more the people need this stuff for their life, the more the chances you convert visitors into customers.
Browse Around the Marketplace
Just head to Amazon and eBay and you will see there are tons and tons of products available. If you want to access to the affiliate program, just go to Google and search for "eBay + Affiliate" and "Amazon + Affiliate". Just browse around and you will see hundreds of niches available.
However, I would never just find a niche by browsing around the marketplace. What I really do is first searching in an eBay analytic tools. It is www.WatchCount.com. Within watch count, you can search for products that being browsed the most. If there are people who are currently watching a product through eBay, this Watch Count system can track instantly. The most important thing is that it is free to use.
However, choosing a niche is never a difficult job for you. What you really have to do is to see whether that niche has low competition or not.
Keyword Research is the Key
To see whether a niche is at low competition (or profitable), you have to do a lot of keyword research. Don't find shortcut or just randomly pick a niche. You will regret if you don't do keyword research.
I personally use a keyword research tool called Jaaxy. It tells you how many searches per month with the keyword you searched AND the relevant keywords that similar to your search. It also tells you how many websites are actually ranking with the exact wordings of the keyword. For your reference, the exact wordings of a keyword means Quoted Search Result (QSR).
Below, I will show you what I have done with Jaaxy and you can learn more about "What is Low Competition Keywords".
I went to Watch Count and search for Home & Garden (Just a random pick). I saw there are few different kind of products that have tons of searches and sales. I decided to go for a home security camera as it's a bit more high-tech and it could be a necessity for people who live in Los Angelas (LOL).
Click to Zoom.
Click to Zoom.
Above the Jaaxy searching result, Avg means the average searches per month. Traffic means the estimated traffic to your site if you rank at the first page of Google. QSR means Quoted Search Results that I explained already above. KQI is just an index light that let you easily spot whether that keyword is usable. (Green is good, Yellow is okay and Red is bad.) SEO is search engine optimization. In this page, SEO means the score of this keyword. You can easier to rank at the first page if that keyword is scored above 93(from my experience). Domains means the available domain combination of this keyword.
So I just go directly to Jaaxy (I am using the Pro version which has lot more functions.) and put the word home security camera. There are over 8000 searches for a month. There are only about 200 sites ranking with this keyword. So I can sure that this is a profitable niche and it is also a "rankable" niche.
The very first step of building a successful online business is to find a profitable niche. A keyword tool can help you to optimize your benefit while doing your research. Just go and try to find a niche that fits your interest and do proper research with it. You will be making descent amount of money.
Please let me know how do you think of this by leaving a comment below!
Building Successful Online Business