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How do you find if a niche will be profitable?

by Markets
12 replies
I am wondering, before you get into a niche, what research do you conduct to make sure it will even be worth it in the long run?

Being new to IM, I feel as if I am stuck with picking a niche due to thinking it won't have a big audience, or that it's too competitive and not big enough to get into.

I'm really looking for help to get over this issue.
#find #marketing #profitable
  • Profile picture of the author SchoolofKA
    There are so many different approaches to this.

    1) Personally, a piece of research i would do is ask myself if I am interested in a niche. If you are interested and have a passion, it's going to show. Of course, you can get into a niche without this but I believe it helps.

    2) a niche doesn't have to be big or have a big audience for you to make money.

    3) instead of thinking a niche is too competitive, switch your thinking to this: if it's competitive, it's competitive for a reason: there is money to be made.

    4) Also, instead of looking at competitors as enemies, look to leverage and use the competition instead.



    Originally Posted by Markets View Post

    I am wondering, before you get into a niche, what research do you conduct to make sure it will even be worth it in the long run?

    Being new to IM, I feel as if I am stuck with picking a niche due to thinking it won't have a big audience, or that it's too competitive and not big enough to get into.

    I'm really looking for help to get over this issue.
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    • Profile picture of the author Markets
      Originally Posted by SchoolofKA View Post

      There are so many different approaches to this.

      1) Personally, a piece of research i would do is ask myself if I am interested in a niche. If you are interested and have a passion, it's going to show. Of course, you can get into a niche without this but I believe it helps.

      4) Also, instead of looking at competitors as enemies, look to leverage and use the competition instead.
      1. I agree, but also just being interested in something and wanting to learn more about it would be just as good as having a passion for something, I think.

      4. Better way to think of it for sure, but how to take an approach on something like this?

      Thanks again for your input.
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      • Profile picture of the author SchoolofKA
        Originally Posted by Markets View Post

        1. I agree, but also just being interested in something and wanting to learn more about it would be just as good as having a passion for something, I think.

        4. Better way to think of it for sure, but how to take an approach on something like this?

        Thanks again for your input.
        I learned my lesson about 6 years ago.

        I created a website for a video game and started generating almost 10,000 visitors per day about a week after release.

        There was another developer who had the same idea as me and created the same type of site. We were ranked #1 and #2 in the search engines but were also using different methods of driving traffic.

        Instead of 'teaming up' with this developer and 'share each others traffic' when I had the opportunity, I treated him as a competitor and just focused on trying to outrank him.

        While the site was a success, I could only imagine what the success would be like if I had teamed up with this developer and 'worked together.'

        There's nothing wrong with contacting a competitor in your niche and ask to write a guest post, or vice versa. It's actually can be beneficial for both.
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    • Profile picture of the author travlinguy
      Originally Posted by SchoolofKA View Post

      There are so many different approaches to this.

      1) Personally, a piece of research i would do is ask myself if I am interested in a niche. If you are interested and have a passion, it's going to show. Of course, you can get into a niche without this but I believe it helps.

      2) a niche doesn't have to be big or have a big audience for you to make money.

      3) instead of thinking a niche is too competitive, switch your thinking to this: if it's competitive, it's competitive for a reason: there is money to be made.

      4) Also, instead of looking at competitors as enemies, look to leverage and use the competition instead.
      This^^ Right here. It's about the best info you're going to get on this forum.

      The only thing I'd add is this: Imagine that everything you believe about how complicated this all is wasn't true. Imagine that you can actually market anything you want.

      Once you have that in your head just get busy. This isn't complicated.
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      • Profile picture of the author Markets
        Originally Posted by travlinguy View Post

        Imagine that everything you believe about how complicated this all is wasn't true. Imagine that you can actually market anything you want.
        Again great input, good quote right there.
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        • Profile picture of the author travlinguy
          Originally Posted by Markets View Post

          Again great input, good quote right there.
          Here's the thing. People get all caught up in analyzing keywords for ranking they're never going to achieve in this lifetime. It's not that hard. Create or promote stuff people want and can afford. Then give it to them with sincerity and a smile.

          One thing I've learned is if you're really trying to be successful you're going to learn as you go and the stuff you really need is often going to fall into place.

          One more bit of wisdom. One of my mentors used to say this: If you're looking to make $100,000 a year don't be asking minimum wage earners how to go about it.
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    • Profile picture of the author DZM
      Seriously, follow this:

      Originally Posted by SchoolofKA View Post

      There are so many different approaches to this.

      1) Personally, a piece of research i would do is ask myself if I am interested in a niche. If you are interested and have a passion, it's going to show. Of course, you can get into a niche without this but I believe it helps.

      2) a niche doesn't have to be big or have a big audience for you to make money.

      3) instead of thinking a niche is too competitive, switch your thinking to this: if it's competitive, it's competitive for a reason: there is money to be made.

      4) Also, instead of looking at competitors as enemies, look to leverage and use the competition instead.
      My two cents:

      Reasons to avoid action are easy to find but you only need one good reason to do something. Find that good reason.

      P.S. But please don't choose make money. If you do that, soon or later you will get bored.
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  • Profile picture of the author blitz20
    Find something you like to be involved in because if it starts to work you will be doing it for a long time.
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    • Profile picture of the author Malachi Terry
      Don't get caught up hype and the niches that everyone else is after, don't get me wrong because you can definitely make money in those super competitive niches but it is so hard to do majority of the time. The real money is in the low hanging fruit! Do your keyword research, look at how many results indexed by the search engines and verify the niche is worth going after and then direct traffic to your website. You will find that sticking to the fundamentals of this game will make you money with less risk. Don't just chance it by thinking that a niche is profitable without doing research [that's just dumb].

      FYI, sometimes you will do you research on niches an the ones you think will make you a killing will sometime be a complete fail and the ones you didn't expect to make much will make you great income. But ultimately the only way to know if a niche is profitable is to test it... Don't look for shortcuts, don't take the hard way out; nobody wants to work hard anymore..
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  • Profile picture of the author jamescanz
    Originally Posted by Markets View Post

    I am wondering, before you get into a niche, what research do you conduct to make sure it will even be worth it in the long run?
    Focusing on the big 3 makes it easy (health, wealth, and relationships).

    Now you might not want dive into any of those, which is cool.

    Then, I would recommend checking out where products (in the niche) are sold.

    Clickbank is a good start.

    You can also search Google for a buying keyword in the niche.

    See what comes up for ads, and do some research to see how much people are spending for keywords.

    That can give you some insight
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  • Profile picture of the author Miguelito203
    Originally Posted by Markets View Post

    I am wondering, before you get into a niche, what research do you conduct to make sure it will even be worth it in the long run?

    Being new to IM, I feel as if I am stuck with picking a niche due to thinking it won't have a big audience, or that it's too competitive and not big enough to get into.

    I'm really looking for help to get over this issue.
    Well, the way I was taught was to use a site like Amazon, where you can look at the top magazines people are into. The reason for this is because magazines are actually broken down into niches. There's a lot of research and stuff that goes into them -- including the ads that show up in them. After that, you can use a keyword tool to get a better idea -- using the monthly use volume as a guideline.

    Joey
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  • Profile picture of the author DavidAllenNeron
    I think you should focus on your skills, passions, hobbies and decide on a niche that way because then you'll have much more success, the more value you can bring to the table the better, just because a certain niche appears to be popular doesn't mean you'll be successful with it, what if transvestite dog eye makeup was all the rage, .. is it something you want to grow long-term? [no offense to transvestite dogs].... but if you're really good at unclogging a sink, why teach how to trim poodle fur? how far can you go with it unless you take it up as a hobby or it's a passion of yours, something you take pride in doing better than others. Even if it's programming universal remote controls.

    As all the philosophers say, Look inward. Find YOUR niche first.
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