Autopilot Profit Formula. Find a Niche.(Part#1)

Autopilot Profit Formula. Find a Niche.(Part#1)

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Topics: Affiliate marketing

Finding A Niche 
Choosing your niche can mean the difference between success and failure, so we need to devote some time to finding a good niche that will yield results.

So what is a niche?
Basically a niche is a subset of people within a market with a particular interest. Here’s what Wikipedia says:

“A niche market is a focused targetable portion (subset) of a market.”

So our job right now is to find a group of people who we can provide value to, who in turn will buy the products we recommend. What makes a good niche?

What makes a good niche?
A niche you are passionate or knowledgeable about  

This isn’t by any means necessary. However, if you can find a niche that you have some knowledge on, it will certainly help you to write content and think up product ideas. It’s a whole lot easier to write about something you enjoy than to write about something you don’t know anything about.

If the niches that you are passionate about are not profitable (with ‘hungry buyers’), then you’ll need to start looking outside your interests (develop some new ones!). You’ll need to spend some time reading up on your niche and learning about it. You could outsource content creation, but it’s still important that you get to know your market and what makes them tick.

Niche size

Size does matter in niche selection, although not necessarily the bigger the better. One of the biggest misconceptions regarding niche marketing is that there is less money in it than with the larger, mainstream markets. In truth, if you approach niche marketing the right way, you can actually make MORE money in LESS time than with any of the larger markets because when there’s less competition, it’s far easier to penetrate markets and target your customer base.

You need to make sure that there are enough people searching each month to make you a good income, but not so many that the niche is really competitive. If you want to go with a huge niche such as weight loss you can drill it down to a sub niche such as ‘weight loss for 40+’, ‘low carb weight loss’, ‘post pregnancy weight loss’ and so on. Or you could build a review site targeting a specific weight loss product or diet.

Are they buyers?
The commercial intent of the people searching is vitally important, if your niche does not like to spend money then you are going to have a hard time selling to them. Sometimes you’ll come across a niche that gets thousands of monthly searches, but the searchers are only looking for free information, pictures, etc. You need to look for niches that are selling lots of different products that people need/want.

Are your potential customers reachable? 
How easy is it for you to reach the people you want to sell to? Are there big  forums you can visit? Will you be able to get any positions in the search engines? Will article marketing work?

Are there lots of keywords?
You will want to target one main keyword (that gets at least 5000-15000 searches per month), but there should be lots of other related keywords too. You can’t have a site with just one article (or a number of articles written on one keyword). You’ll need at least 20 other supporting keywords for your site.

How many products can you sell?
For this method we will be choosing just ONE product to sell as it’s much easier to get a one product site up to $1000 a month than a bigger multi product authority site. That doesn’t mean the multi product site method isn’t valid – I use both successfully. However for newbies, focusing on one product is easier. It’s how I started making enough money to leave my day job in 2007, and the same method works just as well today.

Will they buy what you are offering?
This seems simple, but it’s easy to get caught out. Just because people are searching for something, doesn’t mean they are going to buy. As an example, say you want to sell an infoproduct on high blood pressure, but you check out the market and they only really buy pills to cure their blood pressure. Then you might want to rethink your strategy. What about someone suffering from a yeast infection – would they order an infoproduct (that theycould get immediately) offering relief within 12 hours, or would they order a cream or pills product that could take days to arrive? I know which one I’d order! Put yourself into the shoes of the person searching – what would YOU want to buy to solve your problem?

Competition
Sure, competition in the search engines can make your life more difficult, but if other affiliates and websites are selling your future products successfully – that is good news! If someone else can sell those products successfully to the market then it means the market is receptive to that kind of product and they will buy. This increases your chance of success hugely, because as long as you promote the same product (or a similar one) then you can start to take some of their traffic and hopefully some of their sales too. Now let’s move on and talk about the BEST kind of niche…

Hungry/desperate Niches 
If you can find and target a niche is that are hungry or desperate for the kind of product that you can provide, then you can drastically increase your chances of success and make your marketing a lot easier.
I’ve always found desperate niches to be the absolute easiest to get started with, and because they convert so well you don’t even need a massive amount of traffic to make a respectable income!
So what are some ‘desperate’ niches?

  – The teenager desperate to get rid of his/her acne quickly.
  – The mother frustrated by not being able to potty train her toddler.
  – The guy who will do anything to win his ex back.
  – The bride to be looking to lose weight for her wedding in 6 weeks time.

The list is endless!
When NEED is there, rather than just desire, you’ve got a winning niche. That, along with a laser targeted site that provides the SOLUTION to their problem, and you’ll start making some serious bank! The late Gary Halbert used to ask his students if they had a hamburger stand, then what is the one advantage that they would want in order to beat their competition and make a crazy amount sales? The audience suggested a wide range of different advantages they would want – location, price, ingredients and lots more. But none of them hit the nail on the head. He revealed that the one advantage he would want (the only one he would need to beat EVERYONE) is a starving crowd! If the people you are targeting are desperate then that makes your job a lot easier, because the people searching for a solution to their problem are highly motivated to spend money to cure whatever it is that is causing them a problem or pain. Now is this taking advantage of them? I know that is the first question that most people ask when they are told to seek out a ‘desperate’ niche, but in fact it is quite the opposite. As long as the information you are providing does give a genuine, useful solution to that problem, then you are not taking advantage of them, you are actually helping them out of a bad situation. Too many affiliates take advantage of their visitors by selling them false hope and garbage information – you should be doing the opposite!

What about a hungry/passionate crowd?
These are people who are not quite as desperate, and they are not in pain or any serious danger, but these are people who are really passionate about either finding a solution or mastering the niche that they are in. For instance the anti-aging market could be an example of a hungry crowd, they will spend large sums of money on all the latest products just to see if they can get some of the results that are promised on the packaging. Therefore
if you open up a website which catered to this market then you could expect your visitors to be more motivated to buy products than if you just sold ordinary makeup etc This also applies to sports, a lot of people are passionate about their sports and hobbies and will spend great sums of money on getting the best equipment, advice, and training in order to improve their skills and show off to their friends! So this is another criteria you need to think about, if you have a list of niches and you know that one of them is either a desperate or hungry niche then you are probably best to aim for that niche as it will make everything you do a lot easier when the people you are targeting are eagerly awaiting your offers! Do a keyword search for the following phrases and you might be surprised by the types of things that come up:

 How to                                      How do I                             How do you                 How to fix
 How do I fix                           How do you fix                 How to prevent          How do I prevent
 How do you prevent          How to cure                       How do I cure             How do you cure
 How to quit                            How do I quit                    How do you quit         How to get rid of
 How do I get rid of              How do you get rid of    How to lose                   How do you remove
 How do I lose                        How do you lose               How to get                    How do I get
 How do you get                    learn                                      get rid of                         fix

 remove                                     prevent                                 cure                               quit
 lose                                            get                                            eliminate                     restore
 stop                                           How to remove                  How do I remove
 How to stop                            How do I stop                         How do you stop

 


The Niche Selection System
Selecting a niche is a 3 step process. First of all we must find niche ideas, then we must analyse those niches to see if they’re viable, and then we will analyse their profitability.
Niche Idea Generation
Grab a pen and paper for this step. We are going to use a variety of different techniques to uncover a range of niches which we will then narrow down before moving on to the next step.
Look inside yourself
Assess your own expertise and interests. Do you have any experience or special knowledge of any particular subject? Make a list of your hobbies, skills, jobs etc. that could be good niches. Take 15 minutes and write as many as you can – don’t worry about analysing them right now, just write whatever comes into your head.

Get help from your friends 
Think about what your friends do for fun or what they spend money on. Ask them to help you brainstorm – two heads are better than one! For instance you might have a friend who spends a lot of money on dog toys and vet bills… that gives you some ideas straight away – dog health and dog toys. People are passionate about their pets, so although it’s not a ‘desperate’ niche (which is the easiest to target), people also spend a lot of money on passionate niches.

Online research 
Here are some great places you can go to get more ideas:
Magazines.com – Any market that has magazines on the topic must be popular. You could also visit your local newsagent and see what they’re selling.
Google Hot Trends – The top 20 fastest rising US search queries in Google, updated throughout the day. I found acai weight loss on Google Trends about 2 months before it started to get really popular – I was lucky enough to get a site up before many affiliates and got some great rankings.
eBay Pulse – A daily overview of the top searches made on eBay, the top items being watched and the largest stores on eBay.
Amazon & Amazon Bestselling Books – This is one of my favorite places to look for niche ideas. Just find a category and start looking through the best sellers. For the purpose of this WSO we won’t be looking at promoting Amazon products (the commission is just too low), but you can get lots of great ideas there.
Clickbank Marketplace – It’s hard to tell which products are selling the best, but the higher the ‘gravity’ the more affiliates are selling that product successfully. Choose a category and browse through what is selling to get an idea for good niches. For a better idea of what’s happening at Clickbank I like to use Cbengine. On this site you can see new products to the marketplace (if you can find a niche that you anticipate will do well you can get your site up before the majority of affiliates). You can also access CB Insider which has the Top 20 underexposed and slowly climbing products, and Best Gains – a section that shows you the Clickbank ‘movers and shakers’. 43Things.com – This is a site where people post the things they’d like to do, be, learn etc
eHow.com - A site that teaches you how to do all sorts of things, browse through the categories on the left to get niche ideas.
EmbarrassingProblems.co.uk - This site allows you to pick up on more desperate niches – if people have what they consider an embarrassing problem then they will pay good money to get rid of it!
SoYouWanna.com – This site gives you instructions on how to do all sorts of things.
Basically if you visit even a few of the sites above, you should find enough ideas to get you moving. Just try not to get bogged down and spend TOO long looking through those sites – we want to get our site up and earning as soon as possible!
Now that we should have at least 10-20 ideas, we need to find some products in each niche, and then check the viability of our niches to see if they’re worth pursuing.

 

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