How To Choose A Profitable Niche
So, you have decided you want to get into affiliate marketing, congratulations! You might be asking yourself now which niche do I choose, how do I choose a profitable niche, will the niche I choose make me money and so on. These are are normal questions to ask and I'm going to show you how to choose a niche for affiliate marketing.
What is A Niche
There are different variations of the word niche.
Let's ask Google:
So for the purpose of affiliate marketing, a niche is an interest, product or service that appeals to a small segment of the population. So your objective is to choose a niche you are passionate about that appeals to a certain section of the population. They will be searching for information about products in your niche and your goal will be to provide your audience with high quality information they are searching for.
Here is a great blog post that explains a niche in more detail.
How To Choose A Niche for Affiliate Marketing
While it's always best to choose a niche you are passionate about, you need to analyze how profitable the niche will be. Let's take the sport, Pickleball as an example. This is a fast growing sport and it will be easy to get people to your website because lots of people are searching for this in Google. However, monetization won't be easy because not much gear is required to play this sport. So you won't have a lot of products to promote on your website. So analyzing your niche is important to see if it's worth the time and if there is any money to be made.
Let me give you some actionable tips on how to choose a niche for affiliate marketing:
1. Choose a niche you are passionate about
It's easier to create a website and content around something you are passionate about. So if you love golf, create a website about golf. If you are a mom, create a parenting website. If possible, try and create a list of topics you enjoy because all of them might not be profitable.
2. Analyze your niche
Once you have a few niche ideas, you will need to analyze each of them to see if they are profitable. You will find some tools below on how to test if a niche is profitable.
3. Are there lots of people in your niche?
You want to make sure that there is a large enough group of people interested in your niche because without people, you won't have anybody to sell too.
4. Are people willing to spend money in your niche?
If people aren't spending money in your niche, chance are you won't make any money either.
5. Analyzing your competition
Don't be afraid of competition. If there are a lot of websites covering golf equipment, that's a good thing! That means that niche is profitable. Just because you find a niche with no competition, it doesn't mean it is profitable. There might be a reason why there is no competition in a certain niche.
Free Tools To Analyze A Niche
This is my favorite tool to use when looking for a new niche. Since you are likely going to advertise Amazon products on your site, why not just use them to analyze your niche. Amazon has every category of product you can think of, so you easily see whether something a niche is profitable or not by doing a simple search on Amazon.com
Head to the Amazon Bestsellers page. This will show you all of Amazon's popular products. This will give you an idea what people are spending their money on. Search each department on Amazon and see what the top sellers are.
Clickbank is the best place to buy and promote digital products. You can get a bunch of ideas be referring to the various categories. Click on a category and you will be able to see see various products you can promote.
Google Trends is a nifty tool to help you choose a niche. It relies on search volume when people use Google Search and you will be able to see what niches are popular and what are decreasing in popularity.
You want a niche that remains steady and something that people will still be interested in 5 or 10 years from now. As you can see from the image below, I put the term ''baby stroller'' into Google Trends. Since 2013 and up till now in 2018, it has remained steady. So you can tell that people are definitely interested in this niche.
Then you get niches that are extremely popular but a few months down the line, it isn't as popular anymore. These are usually just fads and people lose interest. So these types of niches like 'selfie sticks'' and ''fidget spinners'' aren't evergreen niches and probably best to avoid those.