The key first step to creating your own successful online business is to understand how to find a profitable niche market online. To build a successful online business, you need to identify a NICHE MARKET that you can build your online business around. Affiliate marketing is a way of connecting people to what they’re already looking for online and paying you to do this. It’s one of the most profitable and growing industries in the world, with over 6 billion in revenue per year.
Billions of people every day are buying stuff online and affiliate marketers are making continual commissions simply by connecting those buyers with what they’re looking for. How does this process work?
It all starts with a niche. There are millions of niches markets.
In this post I’m going to show you how to find profitable niche markets online and how to promote the products you love to the target audience that’s looking to buy them. I’ll show you how to find YOUR niche in business, and how to find a profitable niche for YOUR website. It’s a simple and easy process to apply.
You don’t need your own products or services, you don’t need to be tech savvy with experience building websites, and you don’t need to spend thousands of dollars on expensive training platforms that offer a “Done For You” system that drains your bank account. With the right training platform and recognizing how to find the best niche markets, success in online business is closer than you expect.
How to Find a Profitable Niche Market Online 2020 for beginners
Understanding how to find your niche market takes you directly to the more important question of how to make money online with niche markets. I’ll show you the process, explain how to find a profitable niche market online, and also introduce you to the best training platform online to be successful.
What is a Niche?
In terms of online business, I want you realize that a niche is anything with a target audience.
So anything you can think of where there is a product or service and there’s a target audience looking to buy it. This can be a profitable niche for your online business. Got it? Great. So that brings us to the real question:
How Can You Make Money with a Niche Market?
When you start exploring how to make money with a niche market, we enter the business of affiliate marketing and affiliate programs. Through affiliate programs you can get paid from promoting the products you love from trusted merchants like Amazon, Target, Apple, Walmart, etc. Then those merchants will pay you commissions when your target audience makes a purchase.
Connecting with trusted merchants can be very lucrative when you know how to create content that gets real traffic that converts. Affiliate marketing is growing so rapidly and is popular because you don’t even have to have your own products or services to do it.
You firstly need to learn how to identify a niche market. Then you create content that promotes relevant products or services to its audience that is already looking to buy.
Let’s go through a brainstorming process.
Brainstorming Using Amazon.com to Find the Best, Untapped Niche Markets Online
Alright, you’ve decided you want to make consistent monthly income online. In order to do that you’ll need to choose from the best niche markets. Here’s what I look for in a niche:
- Must be quite broad and not too narrow.
- Must have enough best of posts you can write and ideally best of posts with the year that get traffic.
- What do people need and what are people buying? – does it meet those
- That the niche is profitable (see below for – Choose a Profitable Niche – Assess Your Niche for Profitability)
This is my basic process, I have further insights below to help you below, but first let’s brainstorm. Amazon.com is a great and easy example of an affiliate program your can partner with. You’ve all bought products from Amazon. The world’s biggest online retailer sells pretty much anything you could ever want and is a great place to find the best niche markets. Amazon has millions of products that people are searching for and buying every single day.
Even more importantly, you are looking to find a profitable niche, so simply taking a look at the Amazon home page gives you excellent profitable niche market ideas
Taking a look at Amazon’s departments and categories, you can find a vast list of niche markets. Like Books, Beauty & Personal Care, Shoes, Jewelry, Home & Kitchen, Electronics, Cell Phones & Accessories, Video Games. In each large departments there’s sub-categories (“sub-niches”) too, like cameras, bed and bath, furniture, pet supplies, home theater, musical instruments, Drones etc. These are all examples of highly profitable niche markets you can earn from.
Clicking on any specific category that interests you at random, you can drill down further into a sub-category and it’ll take you further down into the niche into a more specific sub-niche. You’re literally “niching down” into specific niches and further into super specific niches.
By doing this, you can find any number of niche ideas for your business and also ideas about the products that sell in that niche.
The image below shows lots and lots of sub-niches by doing this.
And even better is you’re seeing actual products which sell.
You can search further by ‘best sellers’ or ‘hot new releases’ to find new ‘hot’ products or sort by ‘top rated’ to see what people in the niche think of the products. Using Chrome you can easily sort in the menu bar.
A great way is choosing ‘best sellers’ to see what’s currently selling best. There’s no way you wouldn’t be able to find a niche through Amazon. Now you know how to find a profitable niche on amazon, there’s plenty!
Any one of these niches has 6 figure potential for your website.
Niche Ideas Outside of Amazon – Use Google and Other Sources
Outside of Amazon for ideas, what you can do is think about what people need. You can do this by listening to the “language of needs”. So listen to what people are saying around you. So when people say things like:
- Its so inconvenient when________
- I wish that_______
- Its so annoying that__________
You can make a list of needs and possible niches from that.
You can also look at what you are buying online, what are the last 3 to 5 things you bought? These are all needs and you can think of related niches from that. This is the brainstorming stage.
Choose a Niche That You Have a Passion For – Passion Will Beat Competition – Always!
When looking at all the possible profitable niche market that are out there, it’s important to choose one that you have a passion for. You can make a niche market profitable by taking certain steps, one of which is creating quality content (more on that a bit later). Think about your hobbies and interests. When you choose a niche you have a real interest in, writing content for it is so much easier and even enjoyable.
You may be interested in movies and home entertainment, so as an example, the niche of video cameras could be one that you could choose.
When you type video cameras, the Amazon search shows a page of over 50,000 products you could choose from to promote to your target audience that shares the same interest. This is fairly broad, the products range from video cameras, gear, and accessories that tens of thousands of people are looking to buy.
You don’t have to be a guru or expert. So to brainstorm simply find your passion, hobbies and interests and make a list. Next think about what interest can you literally discuss non-stop?
Choose a Niche that is Specific
Notice that I gave the example of video cameras as a good niche as opposed to just cameras in general. It’s essential to choose a niche that is specific. This enable you to more directly reach the audience you’re trying to target.
Look at your interests and problems in this niche too. Put your marketing hat on and think about the problems you face, products you see, conversations you have etc. By doing this, you’ll think about your target audience and easily find a niche that’s profitable.
If a niche is too general, your niche website will appear as one with less authority. So you create your niche website about something specific, say video cameras rather than generic cameras. This way you show specialization and know-how.
Be careful not to go too specific though. A single model of video camera would be too specific of a niche to try to market. It wouldn’t work to continually create content when your entire niche site is only about a single product.
Choose a Profitable Niche – Assess Your Niche for Profitability
Choose a profitable niche from your shortlist of possible niches. You want to assess “where is my money?”, how are you going to get paid and how are you going going to monetise this niche. What product are you going to be selling as an affiliate? So its wise to consider what are people buying in this niche and how do I make money off it. Here’s some pointers to help you.
1. Is there a physical product? This is highly recommended to choose a niche with a physical product that you can sell. They are often easier to monetise and the keyword competition is often lower. Your whole journey will be easier if you start in a niche with a physical product
2 Is is possible for me to run ads in this niche? Think about if you can run Google ads in this niche or can you have a different advertising network like Mediavine. So you can look at what your competitors are doing here. It can be good to diversify to selling ad space as well
3 Is there room for me to create my own product? This is a good later on strategy to sell your own products in this niche.
Ideally you want yes to all three. You don’t need to get too deep in your research here, just an awareness of what is going on in your desired niche and having all three.
Since you are getting into this niche for affiliate marketing in particular. It is worth looking into who are the top affiliates and what is your likely affiliate commission. For example, if the affiliate earnings are 1% it is pretty hard to monetise a website like that. So to make say $500 a month you would need to sell $50,o00 worth a month. In comparison, if you are in a niche with 10% earnings, you would only need to sell $5,000 a month which is much more doable.
Once you have this list shortlisted.
Assess Your Niche for Competition
I like to find big websites and small websites in any niche I go into. Big websites show there is a very high ‘income ceiling’ in that niche. This shows the earnings potential is five to six figures a month and is wiser than choosing a niche where your income is capped at say only $2,000 a month. You also want to see small websites so this shows there is also possibility for you to outrank them.
So I like to look for at least 2 websites under Domain Authority of 30 (in the Moz free Mozbar Chrome extension or Ubersuggest free Chrome extension). You can also reverse engineer these websites too and shows some competition of several small sites that you can beat.
Watch out for niches that move very fast e.g. high technology will require more effort and you would need to keep replacing and redoing your articles. Also ask yourself is the niche seasonal? e.g. outdoors niches should do well in various seasons but be quieter in other months.
So again, if you have passion for that niche or love that niche, you should choose it over the others. The number one reason people fail at affiliate marketing or online business is because they give up. So if you find a niche that inspires you and gives you hope, confidence or excitement then you should factor that into your niche consideration. You are much more likely to stick with it beyond the 6 to 12 months to start getting success. On the other hand, if you are not truly passionate about your niche you are more likely to give up before achieving success.
The next question is, how exactly does affiliate marketing work so I can make money from my niche market?
Got Some Niche Ideas? Now It’s Time For The Good Part. How Does Affiliate Marketing Work?…Monetize with affiliate marketing
Firstly What is Affiliate Marketing?
A company places their products on Amazon. Amazon wants to sell more of those products. So they ask people (like you and me) to promote them on our sites and create sales.
In exchange for advertising those products, you get a certain amount of the sale. You earn a commission when people click on your affiliate link and buy.
So you have the merchant. Next you have the affiliate. Finally, you have the customer. Sounds simple?
What are the Steps to Take After Choosing a Niche Market?
There are 4 basic steps to creating a successful online business:
- Understanding how to choose a profitable niche, (the fun factor we’re covering here),
- Building your website on a great platform,
- Understanding the popular searches your target audience is searching for so you can attract them to your site, and the best part…
- Turning that traffic into income.
Being Great in ANY Niche Requires the Proper training and tools. There is an awesome online community and training platform that I’m a part of that teaches and mentors these 4 steps in strong detail. I recommend it over all others, and if you’re interested in creating your own successful online business with affiliate marketing, create your free starter account now, get trained, and ignite your success!
I’m happy to say that many everyday regular people are making money with this platform, so trust me when I tell you that the training flat out delivers. Being your own boss can definitely be very lucrative and rewarding.
To show how affiliate marketing works, let’s imagine you’ve gone through Amazon’s categories as shown above and you’ve decided to choose the video camera niche we just talked about. You find that a top rated video camera is the Camcorder, Kingear HDV-5053.
So now, how can you put into action affiliate marketing to begin getting commissions when people buy this video camera?
Using Reviews To Get Traffic
How many times have you done a Google search looking for a review of a product, then you buy it? We’ve all done it many times. Google displays your search with relevant reviews and you chose one that grabs your attention.
You read the review that discusses all about that video camera’s features, specs, its pros and cons, and also at the end of the article you find a link to buy the camera off Amazon. You click the link to buy it, and a couple days later you have it.
Did you know that the link you clicked through to make your purchase on Amazon was an affiliate link? This link tracks your purchase and sends a commission to the reviewer who wrote the article that directed you to Amazon.
Depending on the product, this could earn the reviewer a 4%-10% commission and even much higher. When that review is ranked high in Google’s search results, think of the hundreds and thousands of times people are going through this same process and going through that identical affiliate link.
This is why affiliate marketing is such a lucrative industry to leap into for anyone who wants to work from home and get paid. It all begins with you finding a profitable niche market.
Choosing Affiliate Programs Relevant to Your Niche
When just starting out, Amazon is a great affiliate program for anyone. But as you start to build your website and grow traffic, you’ll be thrilled to know that there are actually thousands of affiliate programs out there for you to partner with.
You can do a quick Google search of “your niche + affiliate programs”. Instantly you have pages upon PAGES of great affiliate programs that are free to join and can potentially promote. Choose any with a commission schedule you’re happy with and apply! Simply choose the affiliate programs that fit your site and focus on them. There is plenty of money to be made in affiliate marketing!
For any niche you choose, the online marketplace is brimming with millions of people looking to buy products in that niche. This is not like a traditional brick and mortar business limited to a local area. Your target audience online is a global one. From video cameras, kitchen appliances to sports and hobbies to any passion you have interest in, there unlimited profitable niches available to you.
Think Long-Term, Not Just Short-Term
Through the growing scale and power of the internet, your global audience will have 24/7 access to the quality content you create. In terms of the content you create think beyond just the products, instead focus on finding a niche audience to serve. You want to think about building a business, building your brand in a niche, and thinking about the long-term, not just the short-term. The benefits will flow when you provide valuable content and reviews and help your audience with the problems they are facing.
So do you now understand how to find a profitable niche market online? Do you have a better awareness of how to make money once you’ve chosen your niche market? It’s all about choosing a specific niche you have a real interest in and using the power of affiliate marketing to earn consistent income.
I strongly recommend the training platform that taught and mentored me to build my online business. Go through any of my links above to create your free starter account and take the training for a test drive. You’ll also get me as a personal 1-on-1 coach and I look very forward to helping you in every way I can to start your exciting journey to becoming an entrepreneur online.
Do you have any questions on how to find a profitable niche for your website? Or how to choose a niche for affiliate marketing? Comments?
Leave them in the comments section below. Share your ideas for a niche market! I look forward to hearing what you have to say and I’m always available.
About John Stanley
John is a Father, Husband, Entrepreneur and Internet Marketing Support Coach. Ever since he started his Online Business he loves working from anywhere and the laptop lifestyle. This means being closer to our child as she grows up. When he’s not building websites, he’s spending precious time with our little girl and family, exercising and enjoys traveling. Follow me: Webtalk· Twitter· Instagram· Facebook