Affiliate Marketing Training Day 2: Choosing your First Niche market
It is important you learn the process and master it—which is the primary goal.
If you take the plunge and realize you’re on the wrong niche, relax, it’s not too much of a problem. All you need do is put into good use what you’ve learned. Never stop; just make sure you’re making progress
Day 2 Objective:
What is the Niche to get started with?
As a beginner, it is advisable to lean towards three evergreen markets, which are as follows:
- Money
- Health
- Relationships
Are you thinking what I’m thinking? “These topics are broad,” you mutter to yourself. I know that already, but hang in there; we’re just getting started.
You’ll always be on track going by those niches. Come to think of it, who is not talking about them today? They’re always on the front burner as each day passes by—even as they carry their baggage causing problems here and there.
People will cough out their hard-earn money to sort out problems related to these areas as long as you can provide them a solution.
The competition in these niches is stifling, but you can make so much money regardless. When there is competition in any niche, it is only a pointer that it is hot and people are making money in it. The good thing is you’ll only be competing with a fraction of the entire market.
So what’s next? Should I plunge into a larger market or go low-key, with a small segment of a broad market?
There is no hard and fast rule here—go with your choice. Let’s evaluate the two options.
The Broad Market
Certain type of marketers would instead go for the huge marketplace, carving out a niche. A typical example would be make-money niche or mental health solutions.
A Small Segment of the Broad Market
Some marketer would opt for a small segment of the broad market, grow, and become an authority in that space. Such examples are smart money management for seniors—a sub-niche of make money, or social anxiety in children.
You can see clearly what differentiates both options. The truth is that none of these strategies are wrong. Go for the one that appeals to you the most. For me, I will go for the small segment of a broad market. The idea is to start small, spread my tentacles, and become an authority.
Niche Selection Strategy
Whatever market you find yourself, to make the best of it, seek for hidden opportunities within the niche and begin to capitalize. Extend your reach into sub-niches of your target market so you could see areas unexplored. Specialization is the way to go and focus consistently to become an expert on an issue. Set the goal to create influence, and by so doing, people will ask for your expert opinion in the sub-niche.
Have you ever wonder how this site came about?
The point here is after research; I discover nobody was catering to the high-end of the market. It immediately got to me that this is a potential money-making segment of my sub-niche. I took to learning a lot about that segment of the market. When I became comfortable in my skin, I knew the time to launch out is near. The ranking on the SERPs took me by surprise, and tons of people were seeking advice on high-end affiliate programs and how to sell to the elites.
Narrow down into your niche like below:
Mental health > anxiety disorders > social anxiety > panic attacks > panic attacks in children
For a highly competitive niche, the rule of thumb would be to niche down for more favorable segment of the market—which may be very small, and it may seem impossible to make money. But the idea is to hang in there and work your way up by making a bold statement. At some point, the market share will be within your reach.
Profitable Niche: How to Find One
The first thing is to draw up a list of your passion, interest, or hobbies. You can also include areas where you have gained expertise. Look critically at the list. Does any appeal to you as having the highest potential?
- If you must make money in any niche, there must be competitor. Healthy competition means other people are already cashing out and you can too.
- Evergreen niche categories—money, health, and relationship—are always on people’s mind. Thus, people will always spend money on them to get improvement. They’re hot because the opportunity to make money is always available.
- Your passion can be a potential niche market. Some people burn with passion for a specific topic, and when you talk to them, you can feel it. Look inwards for something you’re passionate about and explore that area; it could be a potential niche to make money.
- Magazine stand could be the real deal. A magazine takes care of a certain segment of the market. For example, there is a health magazine, and there could be a magazine that talks about diabetes— a sub-niche. If the niche is not profitable, there won’t be a magazine for it.
- Visit Google to have insight. Research the market to see if there are enough ads in that niche. If positive, then people are making money from it.
- Make Google Keyword Planner, your friend. With this tool, you evaluate how many searches are going on per month as per your chosen keywords. The tool will open your eyes to have a feel of the market size and search term.
- Bookstores also provide useful insight. There are books on various topics under different categories. Explore the information you find as regards your chosen niche.
- Making a good deal in the elite market means your target market would be unique in terms of products or services—they’re not readily available to the ordinary man; a typical example is my affiliate programs.
- For the low-end of the market, vanity products will not take you far. Instead, seek for solution-laden products. The trick is to make it irresistible for people to buy your products. Offer products they need not the ones they want. Products like weight loss, anti-anxiety product, etc. Topics that will get people to initiate an action instantly work well too.
- TV commercials are gold. Whatever is trending will most times appear on TV. What you have to consider is the angle from which they’re marketing a product to you and not only what is being shown to you. People buy on impulse so watch out for that.
- Look inwards and fish out sub-niches. Search wide and deep for potentials. Can you expand your niche market further? There may be several products or services you can capitalize on
Retail giants like Amazon and eBay will give you an idea. You can research on hot-selling products via these platforms. Browse by subject, sales, popularity and use the “Movers and Shakers” feature. Do something similar on eBay.
- Take it one step at a time. Focus on a niche and master it; become an expert on it. Dabbling into every niche will yield no good returns. If you’re not making headway with your first niche, find a new one. Even when failure hits you, don’t let it impede your progress.
- Clickbank is another place to check out. This platform has a ton of digital information products. They are among the most profitable retail platform for digital products. You’ll find loads and loads of product that are available by market, popularity, price, etc.
- Research on what people are spending their money on. Do that via Google. Go with the flow for a bite of the cake.
- See beyond your nose. By that I mean look beyond the present to find out what is the next big thing. You can start buying domains and make a space for yourself before it become something big.
- Can the market or niche sustain itself? There are many trends to follow and you’ll make big bucks while at it. The big question is will it withstand the heat and remain for a long time? There are several examples of these; they get off to a great start and over time they crumble like packs of cards.
- What about specialized information? For example adding a couple of yard to improve your golf drive. Niches such as these are real goldmine, and people are always willing to shelling out cash for them—people are quite passionate about them
- Visit magazines.com. You can find niche markets here easily. They make it so easy for you to find by categories and popularity.
- Having solutions to problems can earn you so much money. So all you have to do is to put your ears to the ground to have an idea of what people are ranting about as regards the issues confronting them. The point is problems present opportunities. If one person is struggling with a particular issue, several more are in that space. Solve it! Watch out for more
- It’s time to think outside the box. Leverage what you have to gain advantage—brainpower, critical thinking, observatory perceptions and what have you. If you must know great ideas emanated from thinking outside the box. So use it to get ahead of the market.
- The possibilities are endless, start looking inwards and choose a niche
Let’s draw the curtains here. Day two ends here. Let’s meet tomorrow. Never skip a step!
Don’t get me wrong! If traditional goal-setting work for you, by every mean use it. Systems gives people a clear view of what they’re up against. Have the freedom to choose, so go ahead.
The goal of this 7-day plan is divide the steps into bite-size chunks for simplicity sake. That way, you can accomplish tasks faster, as each day comes, taking out any overload of information in the process. As a beginner being bombarded with an array of information all at the same time, it can be quite confusing, so this method simplifies the process of learning.
You’re just getting started with the system; it is essential you don’t deviate or shelve it to the side. When you repeat something each time, you master it, and it becomes a piece of cake achieving your goal.
The next will teach how to get started with choosing a domain and setting up your website.
