How Do You Know If a Niche is Profitable?

James Seward · 07-27-2009, 08:02 PM

Hey Warriors,

James Seward here again

The question now is quite straight foward: How do you know if a niche is profitable?

I hear a lot of people saying "well the dog training is a profitable niche", for example. But how do you know this, how do you check this?

Of course this is far more interesting to know for narrow niches, and that is my point. For example, is the "german shepard dog training" a profitable niche? You get my point...

Thanks for the help

All the Best
James

yesacpow · 07-27-2009, 08:08 PM

There are several thing that you can check for to know if the niche is profitable. Here are some of them:

1. Search for related keywords and check if there are adwords ads advertising products in that niche.

2. You can buy local magazine and see if there are advertisers advertising in that specific niche.

3. Check forums related to the niche to see what people are talking about and you will know if they spend in that niche.

4. If there are info products on clickbank, the gravity can give you and idea as well as the amount of products in that niche.

5. Do you see advertisement on paid broadcasting on television? That can be a good indication as well.

There are many other things you can do but i just came up with those off the top of my head.

FriendlyRob · 07-27-2009, 08:13 PM

There is a new "commercial intention" website developed by microsoft. To be honest, I haven't had a chance to really master it, but I've read a lot of good stuff about it. Also, my initial inquiries looked pretty interesting.

If you type in "commercial intention" in Google, it should be the first result you see.

Rezbi · 07-27-2009, 08:50 PM

You test it.

If you make a profit, it's profitable.

If you don't, it's not.

Rod Cortez · 07-27-2009, 09:10 PM

There are many ways to do this, here are 2 that I've been using lately (I could write a book on each one, but this is the essence of both):

1. Analyze the competition and track what they are doing. Companies don't stay in unprofitable niches for very long in most cases.

2. Find an affiliate product in that particular niche, set up a simple landing squeeze page or sales page, send traffic to it using PPC. If the commission is 50% and you can break even, then you've got a winner. How so, you can then create your own product or market a string of affiliate products. In other words, sometimes you can take a loss on the first product and make it up in the back end as long as you build a list and have a product mix.

RoD

Daniel Deegan · 07-27-2009, 09:21 PM

I would say the most reliable methods are analyzing and watching paid search activity within your niche as well as looking at print magazines related to your niche. The key is watching things overtime. I've learned some really interesting things after watching various keyword and markets using a tool from PPC Kahuna over the course of a few months...

The advertiser churn rate is quite HIGH in many markets, but it becomes very easy to see who is profitable and more importantly WHY they are profitable. You simply analyze the process of those who are successful in a market compared to those who are not and many things become very clear.

feixia913 · 07-27-2009, 09:41 PM

Quote:

There are several thing that you can check for to know if the niche is profitable. Here are some of them:

1. Search for related keywords and check if there are adwords ads advertising products in that niche.

2. You can buy local magazine and see if there are advertisers advertising in that specific niche.

3. Check forums related to the niche to see what people are talking about and you will know if they spend in that niche.

4. If there are info products on clickbank, the gravity can give you and idea as well as the amount of products in that niche.

5. Do you see advertisement on paid broadcasting on television? That can be a good indication as well.

There are many other things you can do but i just came up with those off the top of my head.

So professional. I think you may be an expert in this area.

mikeyman120 · 07-27-2009, 09:43 PM

I was gonna say the same thing that several have already said and that is to check adwords to see if there are people running ads for your keyword. No ads may be a dead market or you have just found a new niche nobody is in. Too many ads could mean tough competition.

Mike

I just sent you a pm with more info.

rlrlphs · 07-27-2009, 10:02 PM

A niche is profitable when it is very on demand like Internet Marketing Articles,softwares plug-ins and many more.

ramone_johnny · 07-27-2009, 10:03 PM

Quote:

Originally Posted by Rezbi

You test it.

If you make a profit, it's profitable.

If you don't, it's not.

Hilarious!

JasonParker · 07-27-2009, 10:10 PM

Quote:

Originally Posted by Rezbi

You test it.

If you make a profit, it's profitable.

If you don't, it's not.

I guess if you're into lighting fire to money, this is a good method

I have a lot of criteria I go by before choosing a niche, but the biggest 3 for me are these:

1) Is there a lot of competition? If yes, good, because you can leverage joint ventures... and even Jay Abraham will tell you JVs are most powerful.

2) Are there successful continuity programs and high end products? If at least yes to one, then there's either very consistent income streams to create or enough large sales to make you happy with your income.

3) Is it an ethical market? Obviously you're not going to be happy unless you sell what you believe in.

Steve Longoria · 07-28-2009, 12:34 AM

Quote:

Originally Posted by Rezbi

You test it.

If you make a profit, it's profitable.

If you don't, it's not.

haha, this is what i was thinking. ultimately, yes... you'll have to test it to know for sure if it's profitable obviously.

i'm sure you're not implying that market research shouldn't take place however.

thomashoi · 07-28-2009, 01:17 AM

Quote:

Originally Posted by James Seward

Hey Warriors,

James Seward here again

The question now is quite straight foward: How do you know if a niche is profitable?

I hear a lot of people saying "well the dog training is a profitable niche", for example. But how do you know this, how do you check this?

Of course this is far more interesting to know for narrow niches, and that is my point. For example, is the "german shepard dog training" a profitable niche? You get my point...

Thanks for the help

All the Best
James

Simple, as long as you make a sale, the niche has gold.

So many people have given up digging the gold mine
after they hit 1 sale.... they saw better opportunities else where

but i can tell you they are leaving money on the table.... you just
need to promote the heck out of it.... reinvest the money
and build a opt-in list / drive PPC traffic.

BrightLife · 07-28-2009, 01:35 AM

If other guys making money in a market niche does not mean it is a profitable market niche for YOU. This is the great misunderstanding of PPC Bully.

haikuangel · 07-28-2009, 02:01 AM

I think profitability lies with two important things:
Passion and Market viability.Focus groups are always a great way to check the potency of an idea, remember that no matter how great this niche is if no one will want to purchase it then its not exactly built to make you gold standard is it? Being passionate about product development is also imporant and this means having the flexibility to turn your original concept into a more market friendly product.

Chirag · 07-28-2009, 05:14 AM

Great post with many interesting tips! Feel like I could use some of the ideas above.

Craig McPherson · 07-28-2009, 05:38 AM

Quote:

Originally Posted by yesacpow

Search for related keywords and check if there are adwords ads advertising products in that niche.

Watch over a period of a few weeks if the same people are using Adwords.
If there are, then you know it is profitable.

liza31n · 07-28-2009, 07:14 AM

A niche is profitable if it's in demand with the market and people keep searching for it on the web.Profit depends on how you advertise your niche.

StevieHawk · 07-28-2009, 08:00 AM

I think Yesacpow hit almost every nail on the head there. If you seen other people constantly marketing in the niche ie. the same acai berry ad appearing on google adwords for 3 months then that means it's a profitable keyword!

You can also check google trends and insight tool to analyze the search volume just to see how many people are looking for a certain solution or have a particular problem that needs solved. The bigger the market the bigger the potential profit!

ponting786 · 07-28-2009, 08:18 AM

Quote:

Originally Posted by Rezbi

You test it.

If you make a profit, it's profitable.

If you don't, it's not.

Hi....James!
I am totally agreed with Rezbi..
If a niche gives you profit then it is profitable.It can be of any category.
Profitability of a niche also depends on market conditions..
For example,niches related to Finance,Money,Credit cards and health are more profitable as compared to others...

Hoping,it helps you....

JAIDEEP2959 · 07-28-2009, 08:28 AM

1)If Google keyword tool is showing less competition for that niche.

2)If clickbank gravity is less.That means few people are promoting the product.

There is a chance that you can make good profit with it.

07-27-2009, 08:02 PM	#1
James Seward Banned War Room Member Join Date: Apr 2009 Location: New York Posts: 393 Thanks: 266 Thanked 62 Times in 22 Posts	How Do You Know If a Niche is Profitable? Hey Warriors, James Seward here again The question now is quite straight foward: How do you know if a niche is profitable? I hear a lot of people saying "well the dog training is a profitable niche", for example. But how do you know this, how do you check this? Of course this is far more interesting to know for narrow niches, and that is my point. For example, is the "german shepard dog training" a profitable niche? You get my point... Thanks for the help All the Best James

07-27-2009, 08:08 PM	#2
yesacpow Advanced Warrior War Room Member Join Date: Nov 2008 Location: Jamaica Posts: 975 Blog Entries: 7 Thanks: 61 Thanked 343 Times in 120 Posts Social Networking	Re: How Do You Know If a Niche is Profitable? There are several thing that you can check for to know if the niche is profitable. Here are some of them: 1. Search for related keywords and check if there are adwords ads advertising products in that niche. 2. You can buy local magazine and see if there are advertisers advertising in that specific niche. 3. Check forums related to the niche to see what people are talking about and you will know if they spend in that niche. 4. If there are info products on clickbank, the gravity can give you and idea as well as the amount of products in that niche. 5. Do you see advertisement on paid broadcasting on television? That can be a good indication as well. There are many other things you can do but i just came up with those off the top of my head.
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07-27-2009, 08:13 PM	#3
FriendlyRob Robert Deveau War Room Member Join Date: Nov 2007 Location: Woodstock, Ontario, CANADA Posts: 426 Thanks: 52 Thanked 54 Times in 44 Posts Social Networking Contact Info	Re: How Do You Know If a Niche is Profitable? There is a new "commercial intention" website developed by microsoft. To be honest, I haven't had a chance to really master it, but I've read a lot of good stuff about it. Also, my initial inquiries looked pretty interesting. If you type in "commercial intention" in Google, it should be the first result you see.
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07-27-2009, 08:50 PM	#4
Rezbi Senior Warrior Member War Room Member Join Date: Oct 2006 Location: Lancashire, United Kingdom. Posts: 1,534 Thanks: 218 Thanked 209 Times in 177 Posts Social Networking Contact Info	Re: How Do You Know If a Niche is Profitable? You test it. If you make a profit, it's profitable. If you don't, it's not.
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07-27-2009, 09:10 PM	#5
Rod Cortez Traffic Viagra War Room Member Join Date: Jun 2004 Location: Tustin, CA (I'm actually in your living room!). Posts: 4,735 Thanks: 914 Thanked 1,426 Times in 551 Posts	Re: How Do You Know If a Niche is Profitable? There are many ways to do this, here are 2 that I've been using lately (I could write a book on each one, but this is the essence of both): 1. Analyze the competition and track what they are doing. Companies don't stay in unprofitable niches for very long in most cases. 2. Find an affiliate product in that particular niche, set up a simple landing squeeze page or sales page, send traffic to it using PPC. If the commission is 50% and you can break even, then you've got a winner. How so, you can then create your own product or market a string of affiliate products. In other words, sometimes you can take a loss on the first product and make it up in the back end as long as you build a list and have a product mix. RoD
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07-27-2009, 09:21 PM	#6
Daniel Deegan HyperActive Warrior War Room Member Join Date: Nov 2008 Location: New Hampshire Posts: 482 Thanks: 57 Thanked 113 Times in 78 Posts Contact Info	Re: How Do You Know If a Niche is Profitable? I would say the most reliable methods are analyzing and watching paid search activity within your niche as well as looking at print magazines related to your niche. The key is watching things overtime. I've learned some really interesting things after watching various keyword and markets using a tool from PPC Kahuna over the course of a few months... The advertiser churn rate is quite HIGH in many markets, but it becomes very easy to see who is profitable and more importantly WHY they are profitable. You simply analyze the process of those who are successful in a market compared to those who are not and many things become very clear.
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07-27-2009, 09:43 PM	#8
mikeyman120 Mike-Nagle.com War Room Member Join Date: Jan 2008 Location: NY, USA Posts: 986 Thanks: 180 Thanked 173 Times in 103 Posts Social Networking	Re: How Do You Know If a Niche is Profitable? I was gonna say the same thing that several have already said and that is to check adwords to see if there are people running ads for your keyword. No ads may be a dead market or you have just found a new niche nobody is in. Too many ads could mean tough competition. Mike I just sent you a pm with more info.

07-27-2009, 10:02 PM	#9
rlrlphs HyperActive Warrior Join Date: May 2009 Posts: 111 Thanks: 12 Thanked 5 Times in 5 Posts	Re: How Do You Know If a Niche is Profitable? A niche is profitable when it is very on demand like Internet Marketing Articles,softwares plug-ins and many more.

07-28-2009, 01:35 AM	#14
BrightLife HyperActive Warrior Join Date: Apr 2009 Posts: 107 Thanks: 7 Thanked 12 Times in 12 Posts	Re: How Do You Know If a Niche is Profitable? If other guys making money in a market niche does not mean it is a profitable market niche for YOU. This is the great misunderstanding of PPC Bully.

07-28-2009, 02:01 AM	#15
haikuangel Active Warrior Join Date: Jul 2009 Posts: 34 Thanks: 0 Thanked 9 Times in 9 Posts	Re: How Do You Know If a Niche is Profitable? I think profitability lies with two important things: Passion and Market viability.Focus groups are always a great way to check the potency of an idea, remember that no matter how great this niche is if no one will want to purchase it then its not exactly built to make you gold standard is it? Being passionate about product development is also imporant and this means having the flexibility to turn your original concept into a more market friendly product.

07-28-2009, 05:14 AM	#16
Chirag HyperActive Warrior Join Date: Oct 2006 Location: Home Sweet Home Posts: 182 Thanks: 2 Thanked 0 Times in 0 Posts Social Networking Contact Info	Re: How Do You Know If a Niche is Profitable? Great post with many interesting tips! Feel like I could use some of the ideas above.

07-28-2009, 07:14 AM	#18
liza31n Active Warrior Join Date: Jul 2009 Posts: 37 Thanks: 0 Thanked 1 Time in 1 Post	Re: How Do You Know If a Niche is Profitable? A niche is profitable if it's in demand with the market and people keep searching for it on the web.Profit depends on how you advertise your niche.

07-28-2009, 08:00 AM	#19
StevieHawk Active Warrior Join Date: Apr 2009 Location: Northern Ireland Posts: 62 Thanks: 10 Thanked 6 Times in 6 Posts Social Networking	Re: How Do You Know If a Niche is Profitable? I think Yesacpow hit almost every nail on the head there. If you seen other people constantly marketing in the niche ie. the same acai berry ad appearing on google adwords for 3 months then that means it's a profitable keyword! You can also check google trends and insight tool to analyze the search volume just to see how many people are looking for a certain solution or have a particular problem that needs solved. The bigger the market the bigger the potential profit!
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07-28-2009, 08:28 AM	#21
JAIDEEP2959 Senior Warrior Member War Room Member Join Date: Jul 2008 Posts: 1,102 Thanks: 72 Thanked 218 Times in 80 Posts Social Networking Contact Info	Re: How Do You Know If a Niche is Profitable? 1)If Google keyword tool is showing less competition for that niche. 2)If clickbank gravity is less.That means few people are promoting the product. There is a chance that you can make good profit with it.
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