Tag: Niche

How To Find A Profitable Niche Online

Regardless of what type of online business you are trying to develop, it’s a good idea to focus on one specific niche.

But picking out a profitable niche online can sometimes be like trying to find a needle in a haystack. The internet is a busy place and online business owners need to know that they are entering a worthwhile market before spending time, money and resources on building up a new internet based business.

Here are 7 tips on how to find a profitable niche online.

1. Google Suggests

When you type a word into Google, before you hit enter it displays a list of possible phrases that you may be looking for. This auto-complete feature draws on popular search requests from other users. Because an audience are searching for that item it is likely to be profitable online niche.

2. Amazon

When you’re looking for a profitable niche online business Amazon has already done a lot of the work for you. If a niche market is popular on the world’s largest retailer that will quickly tell you if you have a workable marketplace or not.

3. Magazines And Books

You can also use the offline world to search for a profitable niche online. The publishers of magazines and books do a lot of research before spending money on marketing and printing, so when you see a book or magazine for sale, it’s most likely based on a top niche market.

4. FAQFox.com

FAQFox.com scans online forums and scrapes keywords and phrases based on a word that you enter. It will list titles, links and questions that are relevant to your keyword. When you see a lot of people talking about the same problem, product or service, that shows there is a profitable niche online.

5. Udemy.com

This website shows markets where people are buying courses and education. You can use their information database to see a list of the most popular courses. This is a great way to find out what people are actually paying money for.

6. Ask Technorati

You can search for your niche subject matter on this website. If there are a good number of results, you are probably a profitable online niche.

7. The Competition

If there are lots of businesses in a market that is very competitive, it will be challenging for you to be successful. However, if there is no competition it shows that it is not a viable market. Type your niche name into Google. If there are ads related to the search that’s a good sign. That means companies are profitable enough to spend money advertising to your market. Now you need to focus your efforts on a well-defined segment of that market.

Freelance Writers: How to Develop a Niche with No Experience & Make it Profitable for Years to Come

One of the things I’ve learned in my 19+ years as a freelancer and recruiter in the editorial industry is that freelancers should develop a niche.

“BUT,” you may wonder, “how do you develop a niche with no experience?” It’s actually relatively easy and can be done in three easy steps.

1. Make a list of your experiences, likes, hobbies, etc. Why? Because the first step in developing a niche is to go with your strengths. Even if you have no professional experience in an area, if you like it, chances are you will work to become proficient in it.

For example, in my professional life, I’ve been a real estate agent, a loan officer, a credit counselor, a recruiter and a legal copy editor (among a few other things — but we’ll just stop here). Remember, this is just professionally.

My hobbies are running, real estate investing, reading historical romances, sewing, interior decorating and designing ethnic pottery, among a barrage of other things (I have a very active mind and a hint of ADD!).

Now that you have this list, what do you do with it?

2. Target lucrative markets: Not every interest you have will make a viable niche market. This may be because they are not willing to pay for your services, don’t need your services and/or there aren’t enough of their type to market to.

With your list in hand, choose markets where: a) your services are needed on a continual basis; b) your asking price can be met with relative ease; and c) there are sufficient numbers to market to.

Also, you might want to consider competition; as in, how much/little do you have? While there is always room for one more company to offer a product/service, my thought process is why fish in a crowded pond.

Go after a market that not many others are targeting. Sometimes this market will reveal itself in your list of professional experiences and/or hobbies. Other times, you may have to work harder to find it. Just make sure that however you choose your market, you keep in mind the points mentioned above.

Now that you know who you want to market to, how do you get those all important first few jobs which lead to samples, references, etc.? Simple.

3. Do low-cost/no-cost work: Always try to get paid for any work you do. You can target local charities; do work for friends with businesses; contact start-up companies, etc. Your mission starting out is to get those first 4 or 5 jobs under your belt.

If you’re not having any luck landing paid work, try this. Target a company and do the work without asking them (eg, rewrite their badly worded brochure you received in the mail; rework their ineffective web copy; design their logo; etc.). Then, contact them with their original and your NEW, improved version. Not many businesses will turn down improved work they don’t have to pay for. Just like that, a legitimate credit!

Even if a company refuses, you can still use it in your portfolio. Just change the name of the company to something that obviously reflects that it’s a fictitious company with the caveat that the name has been changed, but the revisions made were to original copy.

Now, you’re on your way!

Exit mobile version