Here are some great tips on how to choose your niche for affiliate marketing.
What Is A Niche?
A niche is a targeted focused area of business that you aim to serve particularly well.
It is a small, specific area of business or a market that you want to serve – an area of work that potential clients will recognise and say “Yes – that is exactly what I am looking for!”.
So choosing a successful niche will depend on being able to provide that ‘thing’ that people are looking for, and that there are enough people out there looking to buy that ‘thing’.
For example ‘accountancy’ might be too general, ‘accountancy for divorce lawyers’ might be a good niche, ‘accountancy for divorce lawyers in Canterbury’ might be too niche!
Why Niche Down?
Choosing a niche for your business:
- Allows you to concentrate your efforts on a single area of expertise.
- Allows you to connect with a focused and interested audience.
- Makes your business more searchable online.
- Helps to connect to advertisers, sponsors, or other businesses.
- Gives your business a clear direction for developing content or choosing products to sell.
- Simplifying marketing by giving you a clear message about purpose and benefits.
Factors To Consider When Deciding Hot To Choose Your Niche
If you are struggling to decide on what your niche is consider these factors:
Identify Your Interests And Passions
Make a list of say 10 interests and passions that you have. If you like working in a particular area, you are more likely to persevere with it when times get tough. Will you still love this after a year and a lot of work? If you are passionate about your niche you WILL BEAT the competition! If others are passionate about what you offer even better!
Identify problems you can solve
Now you have some idea of the type of work you would like to do, identify problems in those areas of work you can solve – your potential customers are looking for people who can solve their problems
Research The Competition out there
Competition is not a bad thing – it shows you that there are people out there that are making money from what you plan to do – ie there is a market out there – which is a good thing. However having too much competition can make it harder for you to stand out from the crowd.
Is there a market for your niche?
You now have a better idea of what your niche might be, you have to get a good idea on whether or not you can make a profit selling your ‘work’ (your product/your service/someone else’s product or service) – is there enough demand and can you make enough profit per sale to suit you. Google Keyword Planner can offer insights in to the search volume – 1k-10k searches per month means there is a market out there for it.
Test The Market/Your Idea
At the end of the day you have to test the market with your idea – a good way of doing this is to set up paid advertising such as on Google or Facebook and drive traffic to a website landing page – to judge if the demand is out their for your work at your price. If you get a flood of enquiries you could of found yourself a good niche – if you do not it may not be a good niche or the adverts might not be set up correctly.
Conclusion.
If your testing reveals you have found a good niche then it will be time to develop a fully fledged website to support your efforts, put in place some great online marketing tactics and drive more targeted traffic to your website to get the customers you want.
The above tips will not guarantee you’ll succeed in your chosen niche, but these how to choose your niche tips will help you minimise the risk (your time and money!)
Finding a good niche can be a bit hit and miss, there is not a perfect process for finding a good niche, and some ideas may fall by the wayside. However you should learn from your failures and remember the old adage – ‘fail fast and fail cheap’ – it will save you time and money in the long run.
