What to Look For In a Niche
The likelihood of creating a successful site depends heavily on your ability to choose a niche that meets some very important requirements.
Niche research is essentially about looking at different markets and making comparisons.
Specifically, these are some of the niche criteria we use:
Search Engine Optimization Competition
How difficult it would be to rank for niche related keywords (including keywords with the intent of selling). It's usually a good idea to target "sub-niches" rather than the big over arching niches. Instead of targeting "Tourism" target something like "Tourism Safety" or "Travel Tips for Europe" or other sub niches which are more specific like "Tourism Safety Tips for South America".
Niches with a lot of different products & services.
Finding niches with commercial/buyer intent means you can create content that targets multiple products and services to many people no matter how far they are in the buying process (resulting in much higher potential for conversions). For example the "make money online" niche. People we target in that niche could be looking to buy software tools, training courses, advertising, premium WordPress themes, web hosting and the list goes on.
Something You are Interested In
This is not totally essential but it helps. If you have a personal interest you are more likely to put in the time to work on this long term.
A few examples of this would be:
Sports related stuff such as…
- Literally any sport at all
Or you could decide to go with a passion such as any specific animal. Lots of people have a favorite animal they absolutely adore and it would be safe to bet that they also make purchases based around this specific animal. I bet if you looked for it on the Internet you’d find things like posters, Tee Shirts and really just about anything at all which featured a cute graphic or slogan pertaining to some form of animal.
People with a deep rooted obsession or passion are often times inclined to make purchases based on impulse when it comes to items that feature their obsession or passion. How do you think so many bizarre items, Tee Shirts with funny graphics, and various novelty items are sold every year? It’s all because of the fact these purchases are based on impulse buys from people with a passion or obsession for this stuff. You see something and you just “have to have it!”
Notes: Almost nothing sells unless there is a reason for someone to buy it. If you are not targeting people who are already looking to buy based on a passion or hobby of theirs, and you are not hitting one of the three main categories of (health / wealth / relationships) above then you are wasting your time and effort and should reevaluate your niche selection.
Large Target Market
Large target markets are essential but they also have a lot of competition so you need to find a good balance. Big niches like (like insurance and loans) should always be AVOIDED (unless you dive into a more sub-topic).
Actionable Steps For Finding a Niche
Let’s move away from the theory and give you some actionable steps.
Step 1) Get a Paper and Pen
Write down 5 or 10 "potential niches that interest you. Go to places like Amazon and search top selling books or topics and see niche ideas from there.
Also check out Magazines.com and click on "Best Sellers" to see the top selling magazine topics. At this stage you are just finding topics that interest you.
Step 2) Eliminate Niches
Run your list through the niche criteria above (what to look for in a niche) and cross off any that don't match every single piece above.
Step 3) Research
For the remaining niches you have left on your list, you need to go out and research your target audience and competition to see which one best fits.
Use tools tools like Google Keyword Planner to search keywords related to that niche. The beauty of this tools is it is free, and it shows you how many people search that topic every single month, and gives you ideas for "sub-niches".
An Example Of A “Good” Niche
Now we’ve broken down the process, let’s put it into context by looking at a niche that does tick all the boxes… The "Affiliate Marketing" Niche. (more specifically we often target long tail keywords like "CPA affiliate marketing", or "building an affiliate business")
First of all, it fits into one of the 4 major categories we like to focus on which are Finances, Health and Wellness, Relationships and Love, and Lifestyle and Passion.
This is a niche we know people get excited about. (making money online is the broader niche)
It’s a market that has an endless amount of products to sell, whether that’s books through Amazon, software, courses like ours, or tools and services needed like email auto responders, and web hosting.
A good chunk of those products are also high-ticket items (coaching and consulting), so you can expect a healthy commission on sales.
It’s a fairly broad niche with a huge number of topics and plenty of low difficulty keywords to target, which also makes content creation and link building a little easier.
To top it off, our research also revealed a TON of other "affiliate marketing" sites, so we know it works.