Choose a Niche [Part 3]: The Final Step
Let me start with a quick recap of the previous 2 parts of this mini-series (Go back to Choose a Niche Part 2: Explore Topics). Experts advice to follow a focused approach for your new blog (or website) around one topic (your niche). It helps you in finding your audience and growing your blog without difficulty. But choosing your niche is a tricky but very important part of your online brand and efforts. We followed a quick exercise for exploring potential niches. Here I am going to discuss one more aspect of a right niche.
FeasibilityCheck a potential niche for feasibility. What do I mean by this is that it should allow you to fulfil your goal. If your goal is to earn money from your blog in long-term, then your niche should let you market products or services. You may enrol for Google Adsense and publish their ads on your blog. You can also add advertising to your site through WordAds program from WordPress and earn money when they are displayed to your readers.
You may write review articles about products and recommend them including affiliate links in your posts. When your reader goes to a vendor's website by clicking on such links and buys products, you earn a commission. Amazon is one example and there are thousands of them. This way of earning money is called Affiliate Marketing. Include this factor when you are exploring your niche. Explore and find various affiliate programs which you may leverage with a potential niche.
Demand and SupplyIt is helpful to know the demand and supply in your niche. You may want to analyze how many keyword searches have taken place in your niche, say in last one year and how much competition do you have? When people key in search terms in a search engine like Google, do they intend to buy? There are search terms which include intention of buying by the user. There are many keyword analysis tools. I use Google Adwords for this analysis which is a free tool. You can find more information about Google Adwords here.
If you have lot of search terms in good demand numbers and have low competition, you have no doubt a potentially profitable niche. This is all for now. Thanks for your interest and All the Best!
(Image courtesy of Jack Moreh @ http://www.freerangestock.com)