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How to Choose a Profitable Niche for Affiliate Marketing?
Choosing a niche is one of the main starting points of anyone who wishes to build a business. Whether it's online or not, every entrepreneur will have to ask themselves the question of "what should I sell" ? It's not just because you cannot sell everything (obviously) but also because niching down will allow you to focus into serving your niche market with niche products through your niche site. Implementing affiliate marketing into your own website will definitely be easier if you can choose not just a niche that you like but also one that is profitable and will give you the ROI you wish to have.
In a nutshell, a niche is a specific area of the market that you will cater based on the specific needs and characteristics of the target customers within it. The reason why you go to a different website when you want to book hotels and another when you need to look for information about a specific medication is because these websites are in separate niches. Therefore, your goal as an affiliate marketer is to choose a viable niche that will help you reach an audience whose needs and problems will be addressed by your content, products, and services. In this article, I will lay down four simple steps into how you can effectively choose a profitable niche for you and your business.
Choosing The Right Niche For You
4 Simple Steps To Success
1. Make a list
2. Narrow it down
3. Build a plan
4. Test it out
1. Make a list
Just like any other activity, your starting point in choosing your niche is to brainstorm and make a list of the possible options you have. You can start with your areas of expertise or aspects you are familiar with. This is because in one way or another, you will be sharing information on your site and the best way to establish credibility is to possess a certain level of expertise in that particular area.
The next thing you would want to do is to filter your list by considering which among them are you actually interested in. Once you're decided, you can cross out those which you feel like you will not comfortable with. This is very important because you will be spending a lot of time learning and creating content about the niche of your choice so you better go with the one you will enjoy with and is worth the effort.
2. Narrow it down
If you think that choosing a niche is already a way of narrowing down, well, there is so much more to specify. One way you can narrow things down is to go over your initial options and list down specific subsets under each item. For example, if you have "food" in your list, you can be more specific by listing down "street food" or "Asian cuisine". This will make your task to find a target audience and appropriate affiliate products to promote on your site easier.
Another way to narrow your list is to separate those that you and your audience might just be "interested" in and those where problems and questions may actually surface from. You have to remember that in order for your site to be profitable, people should find value in it because it answers their questions and offers them solution to their problems.
Lastly, you can narrow things down by checking which niches have products and services that affiliate programs offer online; checking the search volume of possible keywords under them to make sure that there will be enough traffic to your site; and comparing the existing competition you have.
3. Build a plan
Now that you have a narrowed down list, you can now choose which among the options is the best based on the criteria you used above. You have to keep in mind that the profitability of a niche will most likely depend on how content under it will fill a specific need; on the amount and availability of affiliate products and services related to it; the search volume of keywords related to it; the actual existence of a target audience interested in it; and the population of competition within it.
Once you are done choosing the best niche from your list, it's now time for you to plan everything out before you actually build your niche site. Planning should involve the acquisition of the resources you will be needing to build your site, equipping yourself with the skills that will help you establish and grow your business, and strategizing how you can elevate your brand above all the other brands in the niche of your choice. Therefore, your goal is to offer something unique or something better than what already is in the market.
4. Test it out
Lastly, once you are already well-equipped, you can now formally publish your niche site and spend some time testing how the waves will go in order for you to determine if it is worth to push forward or it is time to change tracks.
You can do this by publishing initial posts, implement some affiliate links, build an email list, reach out to some of your initial audience, and promote your website online. If things are going well by this point, then your niche may indeed be profitable and you can push forward into improving more to earn more. However, if things are kind of shaky after everything you did, it's either you should change strategies or test out another niche.
The struggle of niching down and how to overcome it ...
Testing out a specific niche will not always guarantee you success. This is the hard truth of affiliate marketing. In fact, it may take you more than one trial before you finally find the perfect and profitable niche for you. It took me some before this but I did not allow the failures in between to push me down. Instead, I drew strength from and did everything to improve each time. A niche business will be extra challenging since risks are higher especially if the amount of available affiliate products under your niche are not abundant and if you are trying to compete with well-established websites of higher domain authority. However, the best way to overcome these hurdles and be successful in your affiliate marketing business is to be wise and persistent. Be wise in knowing when to continue and when to give up. But be more persistent in continuously learning and improving your self and your ways.