Find Your Niche Using This Five-Step Formula to make money from online

Are you interested in earning money online, but don’t know where to begin? here are five steps for using niche.

Or do you already have an online business or blog that’s profitable, but you don’t feel like it?

If either of these scenarios describes you, you may need to find – or reevaluate – your niche.

You will learn how to find a niche that’s profitable and something you can feel passionate about using this post’s 5-step formula.

1. Take the time to evaluate your interests and skills

The simplest things can make all the difference. It is important to choose a niche that you will be passionate about for at least 5 years*, not just something that you are “kind of” interested in.

Would you do this even if you weren’t getting paid for it? Do you like doing this during your free time?

For your niche, this might be an excellent option.

It is vital to consider what skills and experience you have in particular areas. Who frequently compliments you on your skills? Can you demonstrate any recent training? Recent education? What special skills or knowledge do you possess as a result of your job?

Knowing what you love and what you are knowledgeable about is the key to identifying your niche. My productivity calendar has been very successful for me with this method.

The rule does not apply to everyone. I sold Christmas tree storage boxes as one of my first businesses. I wasn’t exactly enthusiastic about the product, but I was passionate about running a successful business and finding the perfect product for my audience.

2. Determine if a niche market exists for your product

It isn’t enough to have passion for a particular niche (although I wish it was).

It’s also important to ensure that the need exists; otherwise, your work will remain a hobby, never growing into a lucrative business.

With some basic keyword research, you can gain an understanding of the market. One fantastic tool for this is Google’s Keyword Planner.

Plug in some keywords relevant to your niche and see what words and phrases are suggested. Sort suggestions according to monthly search volume, level of competition, and suggested bid.

Stick to 1K-10K searches per month for search volume. If it’s less than this, there is probably little interest in it; if it’s more, it could be too hard to rank for in Search.

When it comes to competition, low-medium is best. Despite this showing you how competitive a keyword or phrase is in AdWords (not organic search), it can still give you a general idea of how competitive organic search is.

High bids often indicate high commercial intent when it comes to suggested bids. As a result, people often pay more when the bid is higher since they rank for those keywords more frequently.

Find Your Niche Using This Five-Step Formula

3. Your niche should be narrowed

Your niche may need to be narrowed down even more at this point. It is possible that you have found “freelance writing” to be a popular niche, but want to find a more specific focus.

You can find them by visiting related forums, Facebook groups, and Reddit subreddits.

Consider using a tool like Redditlist to figure out what niches or subtopics you would like to pursue. Try searching for your main keywords and scrolling through the most popular subreddits to see if anything appeals to you.

Visit these subreddits, as well as niche groups and forums, to see which topics or questions arise frequently.ould help you further define your niche (e.g., “freelance science fiction writers”), as well as help you come up with additional sub-niches or blog topic ideas for the future.

4. See for yourself by visiting the website

Researching keywords is important, but you should also see for yourself how tough your niche is.

Find out which sites appear on page one when you Google some of the keywords you found. There are three possible results:

  1. Those keywords are already ranked by a number of well-known sites. It may be better to look for a niche that isn’t quite so popular than one that is oversaturatedThere aren’t any sites ranking for those keywords.ds. Be careful here – this might mean there’s plenty of opportunity, but more likely it means others have already realized the market isn’t there.
  2. The sites that rank for those keywords tend to be smaller or of lower quality. A niche that ranks well for those keywords is worth investigating. This niche is likely to have a market, and the competition won’t be aggressive.

I congratulate you! By now, you’ve decided on a niche and shopped around for the competition. Here’s your chance to see if this niche is really as popular and lucrative as you believe it is.

5. Find your niche and test it

You may have already done market research, but testing the market in real time will allow you to determine if you’re on the right track.

Creating a landing page promoting a free infoproduct related to your niche can help you test your niche before creating an entire website. Tools like Leadpages make this easy.

Then, use AdWords to drive traffic to that landing page. By looking at both the traffic and downloads for your niche and/or product, you will be able to see how much interest there really is. It’s more likely an issue with your landing page copy…not your niche — if you’re getting lots of traffic from AdWords but not many conversions!

You can also survey your target market to validate your niche. In your guest posts, in groups related to your industry, in social media, on Google surveys (Google will promote these for you), etc., promote your survey to your target market wherever you can.

You should now feel confident (or not!) about setting up your niche website and social media profiles based on the findings of your PPC tests and surveys.

Lastly, some thoughts

Even though this 5-step process won’t guarantee your success in your niche, it should spark some ideas and give you a head start. In addition to reducing risk, it will save you time, money, and frustration associated with starting a niche site.

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Find Your Niche Using This Five-Step Formula

Find Your Niche Using This Five-Step Formula

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