When it comes to niche marketing, finding a profitable niche market is the very first step and by far the most important step, if you want to be a successful marketer. However, niche finding is the most widely misguided part of the process.
Most beginner marketers are often led to believe that locating highly profitable niche markets comes down to the use of keyword tools and niche finding software. While such tools certainly help to some degree, they are not necessary and in some rare case, they may even be counter productive.
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Take the Google AdWords Keyword tool for example; while it’s a great tool for finding out how many times a particular product is searched for in any given month, it doesn’t give you any information about the number of times people actually end up buying that particular product or service.
Just because someone search for something, doesn’t mean they are going to buy it. And as a niche marketer, your aim is to get people to ultimately buy something, be it tangible goods or digital products such as eBooks.
So, to me it doesn’t make sense to base your research on keyword tools and niche finding software. Instead, I would think it would make perfect sense to look at actual market and see what people are actually buying, then using that information as a base for finding a profitable niche.
Finding a Profitable Niche
So, how do you go about finding a profitable niche, one that people are actually spending money in?…
There are many ways to find a profitable money making niche and as I mentioned above, one of the best ways is to look at market places and see what you can find. Here are 4 best places to look at when trying to find your niche:
- eBay
eBay is one of the largest market places in the world. It’s one of the best and easiest ways to spot a profitable niche. The good thing about eBay is that you can find profitable niches, related to both physical and digital products. A simple search of most popular products can reveal what people are buying.
- Amazon.com
Another really big marketplace is Amazon.com. Amazon has been around longer than eBay, so it can show products that have been selling for a long long time. Break your search down to categories and look for the most popular products in those categories that you are interested in.
- ClickBank
If you want to create and sell physical products, than the above places will help you. But if you are planning in selling digital products such as e-Books, you would want to look at ClickBank market place. ClickBank is one of the largest markets for selling digital products. You can search for products depending on their popularity status which will show you if a certain product is hot or not.
- Magazines
Magazines are the most reliable way of finding out if a specific niche is going to be profitable. Think about it, if the publisher has enough money to continue printing the magazine, year after year, than there must be advertisers who are wiling to support the funding of the magazine, and if there are such large numbers of advertisers who spend that much resources and money into getting their ads seen, there must be a hungry market out there that is buying what they are advertising. Make sense?…
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Using these 4 places mentioned above, you can easily find a profitable niche. Once you found your niche, start using keyword research tools such as AdWords keyword tool to find keyword phrases and terms used most often to search for products and services your niches has to offer.
Whether you do affiliate marketing, blogging, e-Commerce or what have you, you need a niche to build your business on. And quite frankly you can’t build a profitable niche online business unless you do your research properly and find a profitable niche.