How to Choose Profitable Niche
Every newbie faces this big question that "What profitable niche topic to choose for his/her blog or website"?
Some people do it just for fun or hobby and some purely to make money from it. If you fall in the latter category, it is imperative to give some serious thought about choosing your niche market. Because you’re online success in terms of money depends heavily on how wisely you select your niche. Following are the guidelines, which will help you in your quest to select an appropriate profitable niches or ideas:
Follow Your Passion
Find a niche you are passionate about - this will greatly improve your chances of being successful. Why? Because it's the only way you're going to be able to devote your the time and effort to create a meaningful web site, build up the right traffic, generate worthwhile income, and you will enjoy what you do. If you do not enjoy the topic you have picked, you will find yourself reluctant to work on your website and will spend less time maintaining it. When you are really passionate about your topic, you are likely to spend more time on your website than you should and in return you will have a thriving website.
Thus one of the most important things you should consider while choosing a topic is your liking and comfort in the subject. A good web master always knows the nitty gritty of his niche market or topic whichever way you may consider.
Your interest in the topic also boosts up your level of creativity. The flow of your web site must be spontaneous to you. Otherwise you will run dry of innovative ideas and concept. You have to put new concept every time you update your web site. And you can not do this job skillfully without any involvement.
Is Your Niche has Traffic Potential?
But only comfort won't give you an ideal fan following. It is also the demand that has to be taken into consideration. The amount of traffic that your blog or website will receive will be directly related to the number of people who are searching for this topic, so it makes perfect sense to know in advance the size of your target audience.
To determine the traffic potential of the niches you’re researching, come up with a list of 8-10 keywords or phrases that are directly related to each item in your list. Once you have built a list of related keywords, use keyword search tools such as the Google keyword tool and/or Free WordTracker keyword tool to see how many people are searching each month on keywords related to your niche. You will want the searches to be at around 10 to 15,000 for the main keyword and a minimum of 3 to 5,000 for each of the related keywords or phrases. This is important because you don’t want to be pursuing a niche that is inherently limited by its weak organic search traffic.
Once you have found a suitable niche with a moderate search volume, you’ll need to run a quick check on its monetization and profit potential.
Profit potential for your Niche
The popularity and passion of the topic alone doesn't mean it can give you profits. The most critical thing is to look whether it has sufficient advertiser's base in major PPC (Pay Per Click) Advertising networks. Google Adsense and Yahoo Publishers Network (YPN) are the two most popular PPC programs. Google has provided Google AdWords Keyword Tool to look for high paying keywords related to your blog niche. You can use these tools to get a fair idea about the traffic and average CPC for the relevant keywords for AdWords/Adsense. To do this, simply run each of the niches keywords or key phrases in Google look at the number of advertisers that come up in the PPC results. Here’s what you’ll see from Google Adwords Traffic Estimator after I did some basic keyword searches:
Although the provided data also includes Google cost and commission (roughly 30%) as well, still you can estimate earning potential of your blog niche.
A word of caution: Don’t just select the keywords which have the highest Estimated CPC averages because these are often targeted by many other webmasters as well. Generally, if your niche has an Adwords CPC average of $1.50-$2.00, it ought to be profitable
Analyzing Your Competition: How Tough Is Your Niche?
Spend some time studying your potential online and offline competition. What is their content like? What prices do they charge? What are their strengths and weaknesses? How can you compete? A good rule of thumb is instead of trying to compete head-on with an industry leader, find a fresh angle that they’re either not covering or you think you could cover better.
Analyze your competitor’s keywords in the meta tags and title, site design and back links. Commonly, the more back links you have, the higher position you get in SERP. Analyze competitor’s traffic details to identify their marketing strategies. You can also use their websites or blogs to analyze your own niche market and look for what products are being advertised and their prices or whether they are giving things away for free. This will help you to analyze how competitive your niche is and will allow you to set a price on your product.
Will I have enough content to last me comfortably for years to come, and beyond?
To keep running your blog niche, you need fresh quality content at a consistent pace. Some bloggers face this situation where they start very enthusiastically, but soon they end up in searching for fresh ideas for their blog content space. For making a successful blog you have to feed it with new valuable content continuously.
To get new ideas and topics for fresh new content, you can subscribe to news, bulletins and discussion forums or even you can visit your competitor website or blog.
Now It’s time to choose your niche. It’s probably unlikely that you’ll find the perfect topic on all of the fronts above. While it’d be great to find a profitable niche that you’re passionate about that just happens to have massive demand and no competition – but the reality is that most topics that you come up with will have at least one weakness to them either they will have less money or less traffic etc. If your subject of interest creates a wave of pursuit among the browsers then it will add cherry on the top of the cake. Give some serious thought before you start working on your niche, as it will be the deciding factor in the online success.
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