Niche selection will be the make or break of your success as an internet marketer. It is that important! You can have everything perfect and in place like your domain name, website builder, hosting company, autoresponder, SEO and the list goes on, but if you have chosen the wrong niche, you will find it very difficult to be successful.
A niche is the area of expertise in which you will specialize, focusing on specific products, the type of content you will produce, and customers you will try to attract. Broader niches are usually made up of specialized niches within. Here are some examples:
* Investing within the Finance niche
* Dating Guidelines for Males within the Personal Relationships niche
* Healthy Eating Tips within the Weight Loss niche
* Build a Six-pack within the Body Building niche
What NOT to do when considering your niche.
You do not have to reinvent the wheel when considering your niche and look for the unique niche that no one else has thought of. There is definitely a reason why no one is selling in this unique niche.
So, what makes a profitable niche?
There are four main indicators in finding a profitable niche which should ALL be satisfied:
1. Do customers spend money in your selected niche?
You want to select a niche where people must be willing to spend money on your products in this niche for your business to be profitable. This is why it is crucial to select a niche that is proven in terms of number of customers and money spent. You want to find niches where people have already found success and replicate that success for yourself.
2. Many products to promote.
Your business will succeed when you are able to promote a wide variety of new products to your customers like e-books, videos, courses and even physical products that are relevant to your niche. Your customers must find the products exciting, relevant, interesting, and filled with value.
3. Is it profitable to market to this niche?
This is with reference to generating traffic to your products, be it organic or paid traffic. Do you have the time (organic traffic) and/or money (paid traffic) to make enough profit after marketing to your niche to make it all worthwhile?
4. Do you have an interest in this niche?
Having an interest in the niche that you have selected makes it so much easier as you probably have knowledge and experience to promote the products and share valuable information. One thing is for sure – if you are building a business for the long term, it is far better doing something that you are interested in.
Having the simple 4-step method of identifying profitable niches, you now have to do extensive research to find the niche that best fits your goals and that of your business.
P.S. If you are interested in being coached to be a successful internet marketer, why not follow John Thornhill, the person that I am following. Go and check out his training here.