HOW TO CHOOSE A PROFITABLE NICHE FOR OUR AFFILIATE MARKETING BUSINESS
Choosing a niche when starting your affiliate marketing business is one of the most important tasks faced by new marketers. With so many different product niches out there, choosing one which you think will be the most profitable can often be a very confusing and daunting task; one that can easily cause you sleepless nights. Niche selection can be one of the determining factor of your business success.
Many affiliate marketers make the mistake of choosing a product that sells well, but they have little knowledge of. Although choosing a product which sells well is a good step, it’s important to take a step back and think about how much you actually know about the niche, and whether or not you are interested enough in it to market it to others successfully. Do you really want to spend the rest of your life selling products that you have little to no interest in? The most successful affiliate marketers are those who promote products that they love, as they find it easier to dedicate the time and effort into promoting them. Find a way to balance the equation.
In a nutshell, Find a niche you are passionate about, that is also profitable
If you're reading this post, I’m going to assume you already know how affiliate marketing works. If you don’t please READ HERE
In this post I’m going to be talking about “How to pick a profitable niche for your Affiliate marketing business” and we are going to drive straight into that.
First of all, I guess we all know what a niche is?
If not, well a niche in business is a specialized or focused area of a larger market that businesses can serve to differentiate them from the competition.
Example: Internet marketing can be classified as a huge market opportunity, and within it there are still some small areas of great interest such as ecommerce, blogging, affiliate marketing etc… all these are different niches under internet marketing.
Make no mistake here to assume it’s easy to find a niche. This is undoubtedly one of the most difficult and overwhelming task in setting up a business. It took me almost a month a month to figure out what I really wanted to do as an affiliate. So take your time, do some critical brainstorming sessions, take out variable and come up with a niche that gives the right balance between passion and profit.
Below, I’m going to be giving you some tips to help you decide what you should focus your time and energy promoting online.
Picking the Right Affiliate Program to Promote all Boils Down to two things:
ROI (Return on Investment)- How do you get the most return for every Naira you spend on your business. This is very important just like in every other business. You wouldn’t want to put in so much monetary resources into promoting a product that will yield little or no return at all. That is an error. One of my mentors will say “That’s BAD BUSINESS”. For every N1 you spend in promoting your product or business, it should be able to bring back N1+ into your pocket. That’s what I call business.
ROE (Return on Effort)- Similarly, you would want to make sure the product or niche you want to promote is worth the effort you want to put into it. There has to be a balance between the effort put into it and the profit coming into your pocket. Otherwise, look for another niche.
To maximize your ROI and ROE, you need to pick the right niche first, then pick the right affiliate program.
If you don't quite know what your niche is yet, here are some tips you might find useful. At this point you might want to get a piece of paper to do some check and balancing.
Here are some key questions to ask yourself when determining what your best niche is:
What topics am I already passionate about?
It's much easier to work on something if you're passionate about it. List down all the topics and themes you are personally passionate about.
Ask yourself, "If I wasn't getting paid anything, what would I talk about?" You need to do this because you don't want to hit a point where you lose passion. You can't run on fumes. There are days you wouldn’t make any sale whatsoever and that can make you become easily distracted. This where passion becomes very important, it is what will keep you going despite the set back.
Is there money in this niche?
While following your passion is definitely the recommended option, sometimes the possibility of making money in a profitable niche trumps passion. So, you might not necessarily know much about your niche, but if it's likely to make you money, you can always learn more about it, right? This is particularly a tricky point, but one that is also very important. Sometimes passionate about a particular niche doesn’t mean you can make money in that market. Robert Kiyosaki once said, “sometimes you have to do the business you don’t love, so that you can raise money to invest in what you love”. Find the right balance
TIP: You can Use Google's Keyword Planner tool to find the commercial value of keywords related to your niche
What topic could I see myself easily writing 25, 50, or 100 blog posts about?
The topic you choose must have enough depth that you can create a lot of content for it. This is important for building authority in that niche.
Truth is, If you don't have enough content about a topic, you're not going to be taken very seriously as an authority on the topic and it's unlikely you can convince someone to make a purchase from you.
Is there enough interest in/demand for products in this niche?
The niche you choose might draw enough interest from your audience when it comes to reading and acquiring knowledge, but are they willing to buy relevant products too? Without consumer interest in products, your niche isn't going to make you much money.
TIP: You can Check Google Trends to make sure your niche is stable or growing in demand.
Go to Google Trends and enter the search terms for your niches.
Will there be space in that niche for you?
There are several profitable niches that are also very popular among affiliate markets (e.g. weight loss). Before jumping on board with a hugely popular niche, make sure there's enough room for you. That is, will you be able to make money and compete with already established marketers? If not, keep looking.
You wouldn’t want to build your affiliate marketing website and put in all that time and effort only to find out that there's too much competition.
Are there affiliate programs available in this niche?
Finding a niche that you are passionate about and is profitable wouldn’t matter anymore if there are no affiliate programs available to give you the platform to promote products and services in that niche. This is obviously a crucial factor to consider. You might come up with an idea for a niche you know a lot about, but are there affiliate programs for the niche?
GOOD NICHE but NO AFFILIATE PROGRAM = NO SALES. (Back to square one)
You can check keywords on social media platforms to determine coverage
Enter your remaining niches’ keywords onto social media platforms and look if there are enough Facebook groups, Twitter accounts, hashtags, and other indications of social media interest.
Pick niches that already have a decent amount of interest on social media because you would want to build your website or promote your affiliate links in areas on social media that are dedicated to your niche.
Finding a niche is so important that one little mistake can send months of time, money and efforts crashing down. So, it’s important you take your time to find the right balance between PASSION and PROFIT when making your decision.
I hope this was helpful? If it was feel free to share using any of our social media plugins below. Let’s save others from making the wrong decisions. Join our community today to get the latest updates from us. TAKE ACTION TODAY!
ABOUT Adie Cyprian:
Hello! Its my privilege to meet you. I'm Adie Cyprian, but my friends call me Cypriano, I hope you do the same. I live in Abuja (Nigeria) from where I'm currently running my network marketing business globally.
What I love most about this industry is helping others, the level of personal development it brings, the ability to be your own boss and call your own shots, working f...Continue Reading
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