Honestly, this may sound arrogant, but I KNOW i can be successful in any niche i want. This is simply because i know i have the skill set to succeed. I know how to get traffic (I am awesome at it) and i know how to retain and convert traffic.
This won’t help YOU make money online though.
I urge everyone reading this to work hard on improving their internet marketing skillset. That way you will pre prepared for virtually anything.
That being said, niche selection should be easy.
Essentially, alll you have to do in order to find the best niche for you is to find an overlap between:
- 1 – What you are good at.
- 2 – What you are passionate about.
- 3 – Most importantly: What the market is willing to pay for.
Below i will go in to each of the above factors in more detail:
What Makes Money?
I have read many books like “Crush It” by Gary Vaynerchuk and other books that recommend following your passion. That is fine to say on paper, but in reality, if your passion is something that doesn’t make much money then chances are you are screwed from the start.
I often see people trying to re-invent the wheel, starting a website in an obscure niche where no other people have gone before them.
Chances are if no one is making a website similar to what your website idea is, then it is likely a dud idea or impossible to make money from.
Take me for example, i have bingo affiliate websites that make me a good 4-figure a month income.
I am a 25 year old male, i have absolutely no interest in bingo. I selected this niche because i thought i could do SEO better than the other affiliate marketers and attacked it.
There are tons of money making niches out there. The obvious ones like fitness/weight loss and making money online are the most competitive but even within these niches there are gaps to be filled and money to be made. You just have to be smart about your keyword selection.
What Are Money Making Niches?
Money making niches are where people buy products, services or are willing to pay for a solution to a problem.
You need to start asking yourself questions like…
- What problems do people have in my niche? How can i solve these problems?
- What products and services do people buy in this niche?
- What value can i add? Why should people listen to you?
- How competitive is this niche? Do i have the skills to compete?
- How much money do the best people within my niche make? What can they do that i cant?
What Are You Good At?
If you are an expert in any field, chances are there are people willing to pay for your expertise. You can create products (E-books, Kindle books, training programs etc) and sell them to your audience.
Creating your own products allows you to get other webmasters within your niche to work as an affiliate for you and promote your products for a slice of the profits.
Your expertise can also establish yourself as an industry expert and secure you with guest post spots on authoritative sites within your niche.
The value for becoming one of the most respected people in your industry is MASSIVE.
What Are You Passionate About?
If you are good at something, you probably also enjoy talking about it. Having passion for a topic is not essential (I will create a website about anything if i think i can make money). That being said, having passion for a topic will allow you to stick to it during the beginning stages when work is hard and income is low.
Ideally you should be creating a website because:
- You love your topic.
- You are an expert at your topic.
- You can create massive value and instantly appeal to your audience.
- There is lots of money to be made.
But Andy… I Suck At Everything!
This is the response i have got back from one of my friends when i told them what i do online.
You do not have to be a world beater to make money online. The fact i can make a couple of grand a month from bingo websites without having an interest in bingo shows that it’s possible.
That being said, the value i bring to those websites is my SEO skillset.
What i advise people to do is:
- Pick a skill to learn and specialize in it. I picked SEO, you could pick viral marketing, social media, video marketing, ppc… whatever… it doesn’t matter. Just specialize and become good at it. Certain niches will require different skill sets. There are various niche’s where video marketing will be the most profitable strategy, other niches where guest blogging and forum marketing will be the most profitable strategy. Figuring out the best way to market your website is up to you. That being said the more traffic channels you can find the better, you dont want to put all your eggs in the same basket.
- Pick a topic that makes money and you have an interest in it.
- Create an awesome website and market it.
- Create your own product/service or sell someone elses.
Now obviously the above is an oversimplification.
You need to do your research, you need the right plan to market your website and you need a method to monetize it.
Hopefully you can use your own common sense to figure out what you need to do now. Nobody is going to tell you exactly what to do and spoon feed you all of the information needed. The above however should be a good blueprint for selecting a niche. Remember, make sure there is money in the niche. Look for areas in which you can compete (Generate traffic) and then find a method of monetizing that traffic to making money.
The process is not difficult folks.