how to pick a profitable niche
How to Pick a Profitable Niche
Once you have decided that yes, niche marketing sounds like something you would enjoy, the next step is to pick a profitable niche. For most people, this can seem a daunting task. However, once you know a few things to look for, this task becomes less intimidating and more exciting.
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1. First and foremost, for your first project it is probably best to avoid overcrowded markets. This includes topics like diet pills, weight loss and dieting, certain types of medical cures, stereotypical love life help like “how to get an ex back,” gambling, anything related to making money off of mortgages, currency trading, and Forex, and methods of boosting website traffic. However, as you become more experienced there is no reason not to try niches in these categories as they ARE popular for a reason – people buy. But, since you are new and just starting out, it makes more sense to look for a different category.
2. Research potential popular niches using Amazon.com. Why Amazon.com? Well for one, Amazon sells books and that is basically hat you intend to do. Secondly, Amazon is probably the most popular online book retailer so the information you find here should reflect a lot of common interests. Third, Amazon give you lots of useful information like reader reviews, sales rank, etc.First of all, remember that you are looking for an “under the radar” niche – a category that seems to have active enthusiastic readers, yet is narrow in topic. Examples might be “Growing Cacti” not “Gardening” – as this is too broad. Another example could be “Caring for Pugs” not “Dogs.” Look for categories with the following qualities – more than one book on the topic (ideally six or more), books with 25 reviews or more, books that are in the top 500,000 sales rank or higher (top selling book should be in the top 50,000 to 100,000’s.) Ideally you want to pick a category where people have a tendency to buy multiple books on the topic because they are simply ravenous for information. (Note: the general wisdom is that if there is not a book on your topic, then your topic should not be pursued. I think this is true in some cases but not all. Trust your gut instinct but also be prepared to work a little harder or risk investing a lot of time in a no-profit area.)
3. Make a short list of potential topics – anywhere from 5 to 10 options.
4. Now go to Clickbank.com and see if anyone is already selling a book on the same topic. Ideally you want to see a couple people doing well selling books on your topic. Look to see the average “gravity” and “average % referred” for each book. What do these numbers tell you? They tell you if the products are selling and it also shows you how likely affiliates are to promote your product. Higher gravity the better. What is gravity? It is a way of averaging the number of affiliate made sales per week per product. This doesn’t show the true number of sales, but it gives valuable insight regardless. Note: Gravity only reflects affiliate referred sales, not total sale. A book could sell well but have no affiliates and thus have zero gravity. What is a good average gravity? Anywhere from 2-5, and higher the better.
5. Are people advertising using Google Adwords in your given niche? If yes, most likely they are successfully selling materials. To test this, do a quick search in Google using your main keyword. If an ad or two for an information product appears in the right hand column, this is what you are looking for.
6. Now you want to do another search in Google, this time for your main keyword ” + forum.” Ideally you want to see at least two or three active forums on your topic ion the very first page of search results. Some forums will even show you the number of members they have and how many are currently logged in.
7. The next step is to do some keyword research. This will show you how many people are searching for information (searches per month) vs those providing (number of hits per search term.) Using Google’s free keyword research tool, enter your main search term and hit “Get Keyword Ideas.” The next window will show you 150 keywords (ideally) related to your root keyword. Sort by # searches per month and see what the total number of searches is for the top ten keywords. This shows you a snapshot of estimate internet demand for your topic. You want your main keyword to get anywhere from 5,000 searches on up. Collectively, the top ten keywords should get a similar number of total searches or more per month.
8. Now the trick is to look for viable keywords. I use Niche Profit Classroom’s MoneyWord Matrix Tool as this makes this process much faster. However, what you are looking for is a good ratio between number searches and number of hits. For every 1,000 searches you want no more than 10,000 hits. Ultimately you want ten to twenty good keywords with searches on the higher, rather than lower end. Collectively, the top ten keywords should get 5,000 or more total searches or more per month.
Of course, there’s more to it than that but this should get you started. Click here to learn more.
inside my first niche profit classroom website
Look Inside My First Niche Profit Classroom Website
yaro starak membership site mastermind review
Yaro Starak Membership Site Mastermind Review
Hi everyone, I have been meaning to put this post up for a while and since Yaro Starak is reopening the doors to his Membership Site Mastermind program next week, I thought this was good timing.
I know since you are here on my site, that you are interested in making money online by building niche websites and selling information products. However, if you ONLY focus on “one time” products sales, you are making a HUGE mistake. An example would be an ebook, audiobook, paid access to an online video collection, etc. Something that the customer only pays for once and then receives a single product.
Initially, these kinds of products can bring you a lot of money. Sales are typically high in the first few weeks…and then they settle down to a much lower amount as you and you affiliates move on to new projects.
In order to make more money for yourself and your site, you have to create NEW products and then begin marketing them all over again. This process can be exhausting.
While you can make good money from selling information products, better money than most bloggers and web site owners make – there is better money to be made by starting a membership web site.
The problems with this “traditional” method of website monetization are:
- You have to create and market a new product every time you want to make more money.
- You cannot predict how much money you will make every month. Some months you might make a lot, others, perhaps nothing at all.
Face it, if you want to quit your day job you are going to need regular, reliable income AND the free time to devote to new projects.
The Truth Is – Membership Sites WORK
Why is this?
Instead of being paid once, your customers pay you EVERY month.
You do not need to build your entire product or site 100% before you start selling. You can continue to flesh out your product while getting paid.
You create a single product and can sell it to multiple people without limit – without any annoying shipping fees.
Membership sites can be seamlessly integrated into any kind of online site including blogs and online websites/businesses.
You only need to promote your program when YOU want to make more money!
Membership Sites Will Earn MORE Money and Provide Stable, Constant Income
You may think – “But I don’t run a huge high profile blog or website – there’s no way this will work for me!” This is not true. Let me explain.
You only need a small number of your regular visitors or email subscribers to opt-in to make profit.
Say you want to “start small” and you decide to offer a $30 per month membership (and this would be VASTLY under estimating what most consumers are willing to pay) -
Example 1: How To Make $100,000 per year with a “Entry-Level $30 per month Membership”
If you have a site that gets 150 visitors per day, that’s 4,500 visitors per month. If only 2% (90 people) of your visitors or email list members opt into your membership site you could earn – $2,700 per month or $32,400 per year! And that’s ONE month’s worth of members! Imagine if you left membership open all year!
225 members - that’s $6750 per month and $81,000 per year!
450 members - that’s $13,500 per month and $162,000 per year!
Example 2 - How To Make $100,000 per year with a “Premium $500 per month Membership”
I know what you are thinking – “that’s crazy! No one would pay that!” But truthfully – people will IF you use your high price to position yourself as the BEST source in your market AND you deliver the goods.
All you would need is 17 members. That’s right, 17 members.
In fact, if you position your membership as being limited to only 17 people by adding an element of scarcity you are likely to INCREASE demand for your program.
My Review of Membership Site Mastermind
First of all, I’ve “known” Yaro for a while thanks to his very popular Internet Business blog Entrepreneur’s Journey.
What I like about Yaro, and the work he does, is the combination of honesty and quality. I never feel like Yaro is trying to take me for a ride. If he thinks a system doesn’t work – he tells you! Likewise, the quality of the writing and thought that Yaro produces on a daily basis – is really some of the best out there.
I think many people overlook the secrets to Yaro’s success – he keeps it simple. Yaro isn’t out there concocting complicated mathematical formulas, developing elaborate software, or anything else the average blogger or webmaster would need a PhD for – not at all!
Yaro is an example of what we can all do -find something you really enjoy, keep it simple, slowly turn it into a profitable business and when the time is right take the steps necessary to move up to the next level.
Additionally, Yaro isn’t some internet guy who can only “claim” his system works. Not at all! Yaro himself makes tons of money with his popular blog and even MORE money with his membership site “Blog Mastermind.”
This is where the Membership Site Masterplan program comes in.
Anyone who has a website, email newsletter, online business, or blog with readership should be considering starting a membership program.
Why? The money to work ratio is simply too good to pass by. With a membership program you only need a small percentage of your readers or clients to join in order to receive regular monthly checks! And face it, reoccuring income is what you really need to replace your day job.
Yaro discovered pretty quickly that the formula he developed for launching his own successful membership site, “Blog Mastermind,” also worked well for other people. In fact, one of Yaro’s first success stories was Daniel Scocco, (member of Yaro’s Blog Mastermind program)who runs the popular blog “Daily Blog Tips.com.” Using the step by step plan Yaro outlines, Daniel was able to launch an online business themed membership site titled “Online Profits.com.” In the first launch Daniel was able to attract 200 members in 5 days – at a monthly membership fee of $48 per month! That’s $9,600 for the first month and $57,600 for the entire 6 month program!
Don’t sell yourself short, you could do exactly the same thing using the principles outlined in Membership Site Mastermind!
So what do you get with the Membership Site Masterplan?
First of all, the program has recently be revamped in order to help members launch their sites and start making money faster than ever before. Six months of lessons have now been condensed into six weeks – however, remember – you can always work at your own pace (that’s always been the advantage of online learning anyways.)
Joining Yaro’s Membership Site Masterplan program gives you access to the following resources:
The entire Membership Site Masterplan guide – available in written and audio format. This allows you to have access to all the content you need in the format that works best for you. The Membership Site Masterplan is divided into six modules – each about two hours long (in audio format), and each module is divided into 30min sessions – perfect for one’s daily commute and short enough to prevent information overload.
The Membership Site Masterplan Contains Six Modules:
Module 1 – Selecting the Most Profitable Topic and Building Your Site’s Pre-eminence (how to be viewed as the top expert in your field)
Module 2 – Getting Traffic
Module 3 – The Technical Aspects of What You Need to Do (software, hosting, customer services, etc)
Module 4 – Developing Content and Setting Pricing
Module 5 – You’re There! Planing Your Launch!
Module 6 – After the Launch
Along with the resources above, you will get specific action oriented tasks to complete as you study the program. This will ensure that you can show measurable progress every step of the way. The goal is to have your membership site up and running as fast as you are comfortable.
Every week Yaro will host a live coaching call for all Membership Site Mastermind members. The topic of each week’s call will focus on the current week’s module. This is also your chance to ask Yaro questions directly regarding your own site or if you need additional clarification on the modules. If for some reason you are not able to make this weeks call, or if you want to refer to the conference call again – each coaching call is made available for later listening. This is a great feature as it can be all too easy to accidentally miss a session!
Bonus interviews with people running their own successful membership sites! Learn their secrets to success and how to avoid making beginner mistakes! Like the coaching calls, all interviews are available for download in MP3 and text format.
Membership Site Launch Guide – Many people feel nervous launching their membership sites for the first time. Its hard to know what to say and how to entice customers without turning them off. Yaro’s 96 page email launch guide will walk you through the exact steps Yaro himself followed (including the entire series of promo emails) when he launched his successful Blog Mastermind membership course (which also by the way, made him his first $100,000!)
AMember video training. AMember is probably the market leader in online membership software. This is definitely a resource you want to become familiar with. This AMemeber video training is hosted by Adam Short. Adam runs one of the most successful membership sites out there – Niche Profit Classroom (if you are looking for some quick ways to develop membership content for multiple niches, then this is a great resource for you!) Adam is a great teacher and runs great webinars. Expect to be walked through all the features and benefits of AMember with ease.
Free blog themes – using themes dramatically cuts down on the time you would otherwise spend designing a website! Great for bloggers but other online businesses too!
Private members-only support forum – Ask your questions and get them answered right way! Mix with more advanced students!
Now, launching a membership site is definitely hard work, but the results make it worth it! The price for Membership Site Mastermind is $297 per month and the program lasts from 3-4 months depending on what package you choose.
I know what you are thinking – “That’s expensive.” But here’s the deal – you are paying for a business that really works and honestly, it took a lot of hard work on Yaro’s part to figure this out to begin with, let alone set up a system to share it with you.
The truth is, you are not likely to make money online without investing SOME money in learning from people who have built successful models. You can spend years of your time always one step behind and never earning any money. Having access to a system that really works can make all the difference.
Oh, and there’s a “no questions asked” money back guarantee – so if you don’t like the program, or realize its just not for you – getting a refund from ClickBank is no big deal.
Unfortunately, due to Yaro’s high quality standards and desire to provide each member with a certain level of mentoring – capacity is limited. I know this sucks, but click here to get on the list now if you think a membership site could dramatically increase your blog, website, or online business’s monthly profits!
For more information you can also check out http://easy-membership-site-profits.com/
