In this article we will be taking that one step further and investigating some niche selection methods that are proven to be making money.
Profitable Niche Selection Tip 1 – Dummies.com
Now we’ve all heard of the “For Dummies” books. If you haven’t then they are basically a collection of “How to” books that aim to help the complete beginner get started in their chosen subject. For example “Ipad for Dummies” has everything you need to get to know about your shiny new Ipad.
So how will this help me find a profitable niche?
Well the “For Dummies” publishers are no dummies (pardon the pun) and they have spent thousands of dollars performing market research to seek out and only print books on the most profitable niches. You can safely bet that if there’s a Dummies book on a particular subject then their will be a hungry audience wanting to purchase those books.
So I want you to take your list of niches you brainstormed and head over to Dummies.com. Simply enter your niche into the search box in the header. Now you need to make sure there are actual books published in this niche not just articles. Let me say that again. There MUST be actual “For Dummies” books published and available for sale in the niche. If the search returns zero results delete the niche and move on.
Profitable Niche Selection Tip 2 – Clickbank.com
For those who haven’t heard Clickbank.com is the No.1 online marketplace for digital products. There are thousands of products in their marketplace with more being added everyday.
How do I sort the good from the bad products?
This is a common question especially to those who are new to the internet marketing world. There are many different theories revolving around clickbank product selection but what I find works best for me is to look at the Gravity of the product.
What the heck is Gravity?
Well basically every time a vendor sells a product through Clickbank.com they are assigned a point value. This averages out and we get displayed the Gravity score.
Look for products with attractive sales pages that are not to over the top (ie if you want to buy the product after reading them its a good indicator) and that have a Gravity of around 50 – 150.
Why I look for products that have this particular gravity is to avoid the “Product launch syndrome”. What I mean by this is that some of the larger vendors organize massive product launches where they get loads of affiliates to sell their products and in the first couple of months they see massive sales. Then if their product doesn’t live up the hype they will get loads of refund requests and sales will plummet.
So the rule here is avoid the products with really high Gravity and go with the products that have an average gravity with a nice sales page.
Profitable Niche Selection Tip 3 – Niche Forums
Now you might be saying to yourself “what is a niche forum?” Well its just my way of defining a forum that is specifically targeting a particular niche. The general rule of thumb here is if there is an active forum or community built around a niche then there is a good chance there is a hungry crowd of buyers.
Note that I mentioned “an ACTIVE forum”. Its no good for their to be a bunch of forums in a particular niche if there is no one actively making posts and discussing topics. If you find a bunch of empty forums in your niche then you can consider the niche dead.
So how do I find these niche forums?
Just go to Google.com and type in your niche and the word forum. For example if our niche is Ipad. We would go to Google.com and type in the search “Ipad forum” (without the quotes).
Another method that works quite well if your niche has more than one word. Is to enclose the niche part with quotes and then add a +forum to the end. For example, say my niche was “knitting patterns” I would type into Google’s search box “knitting patterns”+forum. Note that there are no spaces between the + symbol and the quotes.
Profitable Niche Selection Tip 4 – Google Adwords
Now most people know that Google is all about the ads these days. Just for the sake of those of you who don’t know about this. Take a good look at the right side of the screen and sometimes the highlighted top three links. You’ll see the words “Sponsored Links”.
What this means is that people are paying a fee to secure their position in the list of sponsored links. The average rate per click for those listings is around 1-2 dollars per click. However if there are a lot of competing sites then the clicks can be as high as 20 dollars per click!
So the rule here is, the larger the list of sponsored links the larger the market. If your niche search reveals zero ads then its probably not a good niche to get into as their may not be any products to promote.
Having said that if you find a niche that meets some of the previous criteria and has no sponsored links in Google. You might like to consider creating a product yourself.
Profitable Niche Selection Tip 5 – Using Software Tools
Here I’m going to show the shortcut that the pros take. They use software which speeds up the process and helps them expand their brains to find niches they may not have even thought of. There are a number of tools out but I’m just going to show you my two favorites.
This is a huge tool that will aims to assist you in every step of your online marketing business. The main features it covers is Keyword generation, Keyword analysis, SEO Competition, Keyword rank tracking, Site monetization and much more. The only caveat is that it has quite a steep learning curve. However they provide a good number of tutorials to combat this issue.
Brad Callens Niche Finder
This tool provides the opposite solution to Market Samurai. It aims to only deliver what you need to find a niche to delve into. They claim to use a “proprietary algorithm” to let you know whether a niche is easy or hard to rank for. What this tool fails to take into account is product selection. Aside from that its really simple to use and great start for people new to online marketing.
So there you have it five tried and tested methods to start you off on the path to internet marketing success. If you feel I left out a method please feel free to comment below.