How To Find Profitable Niches
Today I wanted to you about picking the right niche to go into, because if you get this part wrong, nothing else matters.
It's actually not as difficult as most folks would have you believe, all you really need to do is find yourself a market of buyers, who are either trying to move away from some sort of pain or gain a certain type of pleasure, the key is to find a market that can serve both, for example, the dating market helps people move away from the pain of being lonely and towards the pleasure of finding love and happiness.
One of the safest ways to give yourself the best chance of success is to stick with the biggest niches and proven markets. That way, a few months down the line you won't be disappointed when you aren't getting a decent amount of traffic, or that traffic isn't converting.
So you may be wondering, what are these big niches - the big 3 that people talk the most about are:
Health and Fitness
Money and Finance
Dating and Relationships
Super competitive right? Not neccessarily, the key here is to truly drill down within these markets and find subniches, let's take 'money and finance' as an example, there are many topics under this umbrella that you could target, for example real estate, tips on getting a job, investing in the stock market, currency exchange, how to get out of debt, the list goes on and on.
Ofcourse, this is still just theory, to be absolutely certain before entering a niche, it's important to conduct your own niche research aswell, one way to do this is to go to Google.com and type in the name of the market, for this example, I'm going to use 'foreign exchange' or 'forex' as it's commonly known as. Below is a screenshot of the search engine results page (serps) as you can see, there are a ton of ppc adverts at the top and at the side of the organic listings, a lot of people are paying good money to be there, clearly they must be making good money too.
Now we go over to Clickbank and take a look at products in this market and check out how well they are selling. The gravity represents how many affiliates have successfully sold that product in the last few weeks. Generally speaking, the higher the gravity is, the better the product converts, which means more money for you!
If the niche has atleast 2 products with a gravity of over 30, I take that as a pretty good sign that it's a market worth checking out, as you can see from the screen shot below, there are 6 products in the forex niche with a gravity of over 30 and 1 product in the mid 20s - this is a pretty good sign to me!
Generally speaking, I never really go after niches that pay a commission of less than $20 - it's getting me super excited to see a product here that has a gravity of over 30 and is paying out $417.09.
So, what are you waiting for, get out a pen and pad and brainstorm some ideas and start investigating markets!
I hope you guys found this helpful, would love to hear any questions/comments in the comments below.