Finding and choosing your niche can be exciting and it can also turn into a real nightmare. You would end up spending days, if not weeks, trying to find the right niche for yourself.
I’ve been there. I’ve spent about a week trying to come up with a niche that would spark my interest and rain cash at the same time.
Until I’ve learned the following steps on how to find a niche in affiliate marketing, this task was a real struggle. Hence, the purpose of this post is to share these steps with you.
1. Come Up with a List of Niches that Interest You
Interest in a specific niche is one of the three important criteria when it comes to niche selection. When you build and grow your affiliate marketing business, you should be fired up and passionate in what you do.
If you select a niche just for the sake of profit (more on that later in the post), creating content will just feel like a dreaded “day job”. It’s just like choosing a college major. If you choose a wrong major, prepare for time, money and energy to go down the drain.
Hence, to get started, grab a piece of paper and write down all your interests, hobbies and passions that you can think of. Then list them by your level of interest in those things in a descending order.
For example, if basketball is your hobby or interest #1, then make it the first thing on your list. If you enjoy gym, but you enjoy it less than basketball, list it under basketball.
2. Come Up with a List of Niches that You Know Well
Even though previous experience or knowledge of a potential niche is not a requirement, some knowledge can differently help you out along the way.
What I mean when I say that you don’t have to have previous experience in your chosen niche is that you can select a niche that you may be interested in learning about. If you already have some knowledge or experience, then that’s great! Take advantage of it.
Just like with interests, you can list topics that you know well. Start with the ones that you know the best and finish the list with the ones that you know the least. You can put the niches that you’re interested in learning about in the interests list.
3. Come Up with a List of Niches that are Profitable
Profitability of the niche is another crucial component in the potential niche. You would not want to waste time on a niche if it brings you no income. If you love the niche, then sure, you can write blogs on that topic just as a hobby.
But if you want to do what you love and make money at the same time, then you need to dedicate some time to some good research.
The first thing you can do is to Google niches that are most profitable and add them to your new list; list of profitable niches. You can also do this research with the help of tools such as Keyword Planner or Jaaxy.
The amount of monthly searches for keywords related to your niche can tell quite a lot about the popularity and thus profitability of your niche. By the rule of thumb, high amount of monthly searches means that the niche is popular and also profitable. But very high amount of monthly searches can also say that the niche is quite competitive (will be discussed later in the post).
Then you can research niches that you listed in steps 1 and 2. For those, you can create a separate list.
In both cases, list niches from most profitable to least profitable.
4. Identify Niches that Fit all Three Categories
Now that you have all potential niches listed, create a Venn diagram and distribute them in the corresponding sections. All the niches that interest you are going into the interest bubble, all profitable niches go into the profit bubble and so on. Niches that share two or more characteristics in common go into any overlapping regions.
The niches that you are interested in, knowledgeable of and are profitable at the same time are your ideal ones; it’s the center of your Venn diagram.
The second best niches would be ones that are both interesting and profitable assuming that you are interested in learning about them.
5. Research the Competition Level of These Niches
Now that you’ve narrowed down your list of potential niches for your affiliate marketing business, it’s time to find out how competitive they all are. This is the last yet very important step.
You want to make sure that you succeed in your niche and do not end up being gobbled up by big players there.
Google Keyword Planner and Jaaxy are your helpers here as well. When you enter your niches names there, apart from monthly searches you can also find the competition column, which shows the level of competition of your niche and related keywords.
As you probably already know, the lower the competition, the more chances for success. This kind of niche ends up at the top of your list of potential niches.
This what I had to say to simplify your niche hunt.
Niche search does require a bit of work and dedication, but it can save you a large amount of time for moving on in your online business venture, if you follow the steps above.
Have you found your niche? Maybe you have some questions or feedback to leave? You can leave your thoughts in the comment section below. I will be more than happy to help you out with anything you need. 🙂