How To Find A Niche That Makes Money Part 2

How To Find A Niche That Makes Money Part 2

This week, we’re continuing the conversation about how to find your audience and how to find a niche that makes you money. If you’ve missed part one of this article you can click here to read it.

Once you’ve done some research and have gotten an idea about your niche and the types of people within your niche, it’s time to create a product for them. In this article, we’re going to talk about the second two steps in discovering your audience: Finding niche products to fill the need, and learning the language of your audience.

Step 4: Finding Niche Products to Fill Your Clients’ Needs

Finding and/or creating products requires that the demographic be studied from all angles. What you are trying to discover is why the people within your niche want what they do.

Just as there are plenty of people who need debt relief, the reasons for wanting that debt relief might be different for the demographic that you are looking at.

Think about the challenges that your demographic faces in other parts of their lives, too.

– The college graduate might want debt relief so they can get a house or a car.

– The elderly couple might want debt relief so that their kids get more inheritance

– The middle aged up and comer might want debt relief so they can get another car

– The mother might want debt relief to lower their bills and provide better for her children

– The bachelor might want debt relief so that he can go to some of the better restaurants

This is why it’s necessary to discover the specific needs of your demographic and find products to fill that need. A book written to the college graduate trying to get out of debt will look very different than the one written to the middle aged man who has more resources at his disposal.

The more honed that the product is to your customer’s needs, the more likely they are to trust you and buy from you.

You don’t have to reinvent the wheel

Sometimes, you might have found the perfect demographic. There are just enough people within it and there are people clamoring for relief from some problem, but the product has already been created. Don’t let that discourage you at all. In fact, with there already being a product on the market, you can make money faster.

That’s where affiliation comes in. When you affiliate yourself with a product, you are selling a pre-existing product for a commission off of the sale. Sometimes, the commissions can range up to 75% of the sale. It really depends on the program and the product that you are selling.

Some of the common affiliate networks include:

• Commission Junction
• E-Junkie
• Clickbank
• Amazon

Affiliate networks work because they’re mutually beneficial: You get a percentage of the sale of a product that you didn’t have to manufacture, and in return the person selling the product has their products and services exposed to brand new audiences. It’s a win-win situation for everyone involved.

If you’re interested in affiliate marketing, I would highly recommend James Martell’s complete course in affiliate marketing. My profits have increased dramatically as a result of knowing his 5 Affiliate Marketing secrets.

You might find that when you do your research, the products which are available are close, but they’re not quite right. Perhaps you’ve discovered a group of people which is large enough but generally untapped by marketers. When this happens, you can develop your own product which fits the needs of the people to whom you are catering.

Regardless of which route you take, whether you are selling someone else’s products or your own products, you have to have something to sell to your audience. Even if you know that you will be changing everything around soon, you want to have something in place for people to purchase at their leisure.

This brings us to the fifth and last step of finding and working within your profitable niche.

Step 5: Learn the Language of Your Audience

While all of the people are speaking English, the language used for the 20-somethings who want debt relief is most assuredly different from the 60-somethings that want debt relief. One group might talk about student loan forgiveness, while the other one talks about annuities.

There might also be specific ways that people within your audience talk about their issues and their needs. Knowing the language of your audience gives you the vocabulary to talk with your audience.

For instance, do you say shopping cart or buggy? Soda or pop? Spigot or faucet? There are many tiny differences in language as you do your research on your topic, too.

Being able to talk directly with your audience will encourage them to trust you and turn to you when they need advice about your subject. They become more open to purchasing your product because they feel that you understand them.

Where do you learn the language?

Amazon reviews – Look at the products in your niche that are on Amazon. Most of all, see what their criticisms are, and understand where you can adopt their language to your sales material. Usually, when someone complains, they are talking about what a product didn’t provide. This is where you can shine.

Forum posts – With forum posts, you have an entire thread that you can follow with the question, the answers, and other pertinent details. When you are looking through forums, the people there are specifically focused on a particular problem, which means that they might be eager to purchase your product.

Study the way that they talk to one another and copy it.

Blog posts – If the niche is large enough, there are going to be other blogs associated with it. There will be people already talking about the subject, and through that talking, you can choose to change your message so that it’s different from the other blogs or imitate it if the blog itself is successful. Either way, examining these outlets is incredibly helpful.

Refine the message that you are sending, and you have the source of sales material, blog posts, and more. This is your time to shine, and you will shine brighter if you use the same type of language as your audience.

Choosing your micro niche to create micro niche sites does not have to be an ordeal. Once you have done your research in finding the niche and discovering your audience, the rest of it is about putting a great package together.

The secret is starting small, then growing. Those new bloggers out there who start with giant fields usually find themselves losing interest or steam after only a couple weeks. That keyword research that you do will eliminate quite a lot of time spent working on unprofitable areas.

Your Turn

If you liked what you read here, please “Like” it, “Tweet” it and “Share” it with others or you can leave me a comment below with any questions or methods on picking out the right niche and creating money online.

2 comments

  1. Will these blog tips help a service blog? I want to start a question and answer blog for insurance in Wisconsin. I need to attract sponsors and do not know how to do it. I owned an agency an had to give it up do to poor health. My husband is also in poor health so I need to get this going and start making a living.
    Thanks
    Carol

    • Hi Carol,

      Thanks for your enquiry, yes these tips will work for a service blog. The fact that you’ve chosen a specific topic like Insurance for Wisconsin means you are focusing on a small niche that has a desired need for information.

      First concentrate on providing good content to your audience to create trust and authority and then build a business around that. The best service to provide is a consultation service which you can charge for a fee and make money. If you would like to discuss more and see how you can put things together, you can email me at ivan@bloggingbusinesstips.com and I would be happy to strategize more !

      Ivan.

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