Profit can be made from almost any niche – the key is knowing how to find it
This is a simplified method for how to find a niche. Essentially we begin with the end in mind, knowing we’re going to need a product to sell that is currently being sold, but maybe not as well as it could be. Maybe it’s hard to find or maybe the people who are selling it want help selling it. That’s where you come in. Here is an example:
I like computer games so I use Google to search for “computer games” (without quotes, which is called a ‘broad search’), which gives me back 200 results. I then use the criteria (as mentioned in 6 Steps to Making Money Online and Research and Analysis Metrics) to narrow them down to one ‘keyword’ I’d like to use. I then find 200 more keywords related to that one keyword and again narrow those down to 4.
Now I have my micro-niche, which is identified by the keyword, “World of Warcraft Gold”. I then have to see how much competition there is for that keyword and if it is a penetrable market (one that has low domain age, a small amount of back-links, and no or low directory listings). Only then can I move on to check whether or not there is something to sell. If there is something to sell, then we ask ourselves if we would want to work for the amount of money it is offering. If it is, then we build and start promoting. If I don’t get traffic, I kill it and start over or sell the domain on Flippa or Sedo.
How to Find a Niche
Sometimes coming up with ideas for a niche is hard. One set of advice I heard was to look in the back of magazines to see what people are selling because it means there is already a niche market for it because people are buying it. You can also use Google Trends or Twitter Search to see what is trending right now.
Here are some examples from ads in the back of a magazine:
- Logo Design
- Web Design
- Business Plans
- Botta Solus Watches
- Timeshares
- Oranges as Holiday Gifts
- Exercise Equipment
- Employee Leasing
- Business Services
Here is what is currently trending on Google Trends:
- tom delay
- ashley turton
- eftps
- bcs championship game
- liberal smear machine
- todd graham
- houston livestock show and rodeo 2011
- eftps.gov
- ron rivera
- www.eftps.gov
Here is what is currently trending on Twitter Search:
- Wojtek Wolski
- Lionel Andres Messi
- María Elena Walsh
- Beth Gouveia
- Fernanda Vasconcelos
- Sue Sylvester
- Great Gatsby
- Toni Ramos
- CHAD CHAD
- #palabrasquedanmiedo