Finding a niche for your online business or blog is a sure fire way to fast track your success. A well-chosen niche is like a superpower - it makes everything faster and easier.
That is exactly why I put together this guide for you. It’s everything you need to know about niches:
- What a niche is
- If you need a niche
- How to find a niche that sets you up for success
- Ways to know if your niche will be successful.
I’m not here to waste your time, but I also don’t want to take anything for granted. So, let’s start with what a niche is.
What is a Niche?
A niche is just a category that you create content or products in. It is the audience you serve and the solutions you provide.
- Health and Wellness
- Make Money Online
These are some very high-level examples of niches and if you want to be successful with your niche, you may want to dig a little deeper and find a very specific niche.
Why Do You Need a Niche?
The real answer? You don’t have to have a niche. There are plenty of examples of successful businesses who started out niche-less.
But having a niche can make your life much easier.
Niches make it easier to answer questions about your business like who your target market is, what products that expect you to provide and how to reach them.
Otherwise, you may spend a lot of time throwing things against the wall to see what sticks. There is nothing wrong with that method.
It isn’t the fastest way to grow, but it is a perfectly acceptable way to do things if that resonates with you.
At the end of the day you have to do what is best for you and your business. Sometimes that means finding your way through trial and error.
If you decide that you want to grow fast or you are ready to really get serious about growing your business or blog, let’s talk about how to choose a niche.
Niche Finding Methods
Contrary to the advice of just about every guru on the internet, there is no ONE way to choose a niche.
Here I’m going to cover three different ways to find niches that I think will cover just about any business owner and preference.
The Six Figure Niche Method
This niche finding method takes into consideration everything about you and then employs marketing research to give you a niche that is a perfect combination of passion and profits.
Begin by answering a few questions:
- What do you love to do?
If you had five hours of free time and you were fully rested, showered, all the housework was done and the kids were all at summer camp, what would you do? Make a list. Add as many things as you want.
- What are you good at?
What does your best friend ask you for advice about, your neighbors call you for answers to and your Facebook friends know you do well? Again, make a list of as many as you want.
- What is your professional background in?
List every job you have ever had, certifications that you got and anything else related to your professional life.
- What is your educational background?
List your degrees, classes and all courses that you have taken or have had an interest in.
Once you have the answers to these four questions, compare your four lists.
Look for places of overlap or areas that lend themselves to working together. Then make a list of the top 10-15 of these categories/niches from all lists.
Finally, do some market research to find your most profitable ideas. Type each category into Google, Amazon, Udemy and YouTube. See what results show up.
You are looking for results that show that your category has a viable market. This means that other people are operating profitable businesses in that category.
Take your top results and pick one.
Now you have a niche. Your next step is to make a list of everything that you know about that niche. Brainstorm every possible topic related to your niche.
This gives you not only a solid niche but lots of content ideas. Once you have this skip down past the other methods and double check the viability of your chosen niche.
The Problem Solving Method
This method revolves around finding a problem that lots of people have that you know how to solve. When you start with a problem, you inherently have a niche.
It helps if you have some subjects in mind that you know something about. After all, your own personal experience can play into making your audience love you.
So, make a list of some things that you know, that you can do to use as a jumping-off point for your next step of research - problem-solving.
What you need on Day Zero of starting a blog (or a business) is a problem to solve.
Look around online - in groups on Facebook, in the comments of your favorite blogs, on Reddit, Twitter, and Google. You aren't looking for what other people are blogging about.
You don’t care what books someone is writing about a certain subject.
You, my budding mom blogger, care about what the potential customers you are trying to reach are saying.
- What problems do they have that need to be solved?
- What questions are they trying to get answers to?
Read these things religiously and look for patterns in the problems.
When you find a problem that keeps showing up in comments online - a problem that you know a little something about, and with some research, you could know a lot about…
That’s what you blog about!
Once you have your problem, you can go out and find the solution.
Do some research, draw from your own experience. Then make a list of several related problems. Once you have about 5 problems that are all related, you have the basis for your blog.
The Passion Method
The final method is to choose a subject that you are passionate about. While this is not the fastest way to grow a business, it can work for you as long as you do the rest of the work involved to check the profitability of your niche.
Looking for your passion? Check out blogs and businesses that you like and even your own hobbies to get some ideas. Create a list of all of the possible passion niches you have and then continue with the rest of the niche validation below.
Top 6 Most Profitable Niches That Will Make You Money Fast
Here are the top six most profitable niches that will make you money fast.
Make Money Online
How to make money online is the most profitable niche on the market, hands down. Unfortunately, it is also the most saturated niche.
You can find millions of websites and niche sites that are created using the most saturated niche market.
The reason why this one is so popular is that it provides “evergreen” content, making it one that can make money year after year.
The finance niche has become one of the hottest and most evergreen niches around. You can blog about hot trends like cryptocurrency, retirement, and blockchain if you're an expert in the field.
Even if you don't have a ton of knowledge, you can still cover topics on investing money and saving for the future. These attributes make the finance niche one of the most lucrative and easiest to enter.
Just about everyone has the same universal urge to travel, whether domestically or internationally.
The traveling niche has become a billion dollar industry over the last decade.
However, the only way you can really become profitable in this niche is if you become a digital nomad and ditch the 9 to 5 job.
Today, the fitness industry in the United States is worth $30 billion, and it continues to grow between 3 and 4 percent annually.
Everyone wants to reduce fat, get fit, and eliminate belly fat, and they are shy about being willing to spend thousands of dollars every year to accomplish these goals.
In 2016, the personal development market in the United States was worth a whopping $9.6 billion and growing.
It is estimated that it will continue to see gains around 5.6% every year until this year (2022) when the market should be worth an estimated $13.2 billion.
If you are a life coach or want to provide advice to people, this could be an incredibly lucrative niche for you.
The subject of relationships is one of the biggest industries in the world and continues to grow.
Many people are looking for relationship advice to help them lead a better lifestyle so they can manage all the relationships in their lives, which is why this niche is so desirable to many.
Picking a profitable niche isn't an easy task, especially when you are just getting started. Keep these top six most profitable niches in mind on your journey to finding online business success.
How to Know if Your Niche Idea Will Be Profitable
In order to determine if the niche that you have chosen will be profitable, you will have to take the time to do some research online. Here are four ways that you can tell if a niche will be profitable.
Check the Marketplaces
You can browse marketplaces like Amazon, Udemy and Clickbank to see if there is an interest in your potential niche. You can enter broad keywords in their "Find Products" search bar to uncover niche products. Take a look at the results and see what products are popular. Those that are at the top of the results page are the most popular and is a good sign that there is some demand.
Check Search Volume
Finding out how many people are searching for your niche idea is an excellent way to tell if it will be profitable. Enter your keywords or phrases into the search bar on the Google, Youtube and Pinterest to see the searches being conducted for that keyword.
The more results you get for a search, the more popular that niche is.
Check Google Trends
You can use Google Trends to quickly check to see whether or not your niche idea is a dying trend.
When it comes to picking a niche topic, you want to try and focus on evergreen niches rather than the hottest trends. You can enter your niche idea or keyword into the search bar to see if it is a solid niche.
Validate Online Activity
You can look for popular blogs and websites to validate the online activity for your niche idea. If you find a lot of authority blogs and sites on your niche idea, it's a good sign that there are customers online looking at that niche.
A profitable niche will have easy to find hubs where the target audience hangs out, which allows you to network with the owners and drive traffic from those sites.
After you've gathered your data from these simple tips, you can determine whether your niche idea will be profitable. If the data points to it not being profitable, don't worry, there are plenty more niches that you can choose.
Factors to Consider When Choosing a Niche
If you're serious about making money blogging, then you need to choose a blogging niche that has the potential to be profitable. There are a few factors you should consider when choosing a blogging niche:
Is there a large enough audience for your niche?
You need to make sure there are enough people interested in your niche to support your blogging business.
Is there enough competition in your niche?
You don't want to choose a niche that is so competitive that it's impossible to stand out. But at the same time, you don't want to choose a niche that is so obscure that nobody is searching for it.
Can you monetize your niche?
Make sure there are ways to make money from your blogging niche, whether it's through advertising, affiliate marketing, or selling products and services.
Do you have a passion for your chosen blogging niche?
This is important because blogging takes a lot of work, and it's not going to be worth it if you're not passionate about your topic.
Do you have expertise in your chosen blogging niche?
Be wary of choosing a blogging niche simply because you think it will be easy to write about. It's important to have some level of expertise so that you can provide valuable content to your readers.
Check Your Niche Keywords
When it comes to validating your niche, keywords are a great indicator of the success of your chosen niche.
Use a keyword tool like Ubersuggest. They have a free version that should work for your needs.
You want to find keywords that have a minimum of 1,000 searches a month. You also will want to make sure that the keywords you choose aren’t overly competitive as well.
Determining the Competitiveness of the Keywords
Once you've found some keywords that you think you want to work with and which ones you want to focus your time on, you can start to check out how competitive each one is.
You can do this by typing your chosen keyword into the Google search bar to see how many other pages show up on the results pages. Don't forget to spend some time looking at the video and image search results as well.
This will allow you to see what other kinds of competition you'll be up against besides the organic search results and PPC customers.
Making a Decision
Now that you have found some relevant keywords and determined the competitiveness of those keywords, you can decide on whether or not you will move forward with your niche idea.
If the organic competition is low and there isn't a lot of paid for competition, then you can feel reasonably confident in moving forward with your idea.
However, if the competition is high, you might want to move through the process again to find a better niche to enter. If you decide to move forward, the next thing you should do is select a domain name that fits your keyword.
What Comes After the Niche
Once you have chosen your niche, you are ready to start a successful business or blog. Congratulations!
Finding your niche is just the beginning of this amazing journey to money making success. When you are ready to take the next step, check out these posts: