How to Find Your Niche in 20 Minutes or Less
Finding a niche for your online business is about as important as remembering to take your swimsuit to the beach. If you don’t, chances are you won’t get very far. If you want to be a successful business owner, you need to focus on finding a niche that will allow you to create successful online products and services. If you’re looking to take your business online, this will get you going.
If you haven’t found your niche yet, here’s how you can find it in 20 minutes or less.
Finding the Best Keywords
Searching for niche ideas is incredibly easy when you use Google’s External Keyword Tool or Ubersuggest. Both tools are free, and it allows you to discover both local and global search volume numbers for keywords, related keywords, and the competitiveness of those keywords. When choosing a niche, you want to find keywords that have a minimum of 1,000 searches a month. Now is the time to consider the competitiveness of your keywords based on two criteria. Keywords are classified into two categories, paid and organic.
Paid keywords are keywords that are bid for inside Google Adwords via pay-per-click (PPC). Organic keywords are used to attract free traffic through search engine optimization.
If you’re planning to do Google Ads, you’ll want to pay attention to the competitive search value because it will drive up your costs. However, if you’re planning a long-term strategy using organic traffic, pay close attention to the correlation between paid vs. organic for your best keywords.
Determining the Competitiveness of the Keywords
Once you've found some keywords that you think you want to work with and which ones you want to focus your time on, you can start to check out how competitive each one is. You can do this by typing your chosen keyword into the Google search bar to see how many other pages show up on the results pages. Don't forget to spend some time looking at the video and image search results as well. This will allow you to see what other kinds of competition you'll be up against besides the organic search results and pay-per-click (PPC) customers.
Ubersuggest has a Chrome extension tool to illustrate the traffic for sites along with their domain score. I use it all the time when looking for keywords. This tool helps you identify websites that you should be watching or possibly researching further. Using the Ubersuggest tool, you’ll see how to get free traffic from highly competitive keywords for paid traffic but viable for organic traffic.
Making a Decision
Now that you have found some relevant keywords and determined those keywords' competitiveness, you can decide whether you will move forward with your niche idea. If the organic competition is low in your organic strategy and the paid search is high, then you can feel reasonably confident in moving forward with your vision. However, if the paid keyword is high along with the organic keyword, you might want to move through the process again to find a better niche to enter. This would be a tough market unless you can find a variation on your keywords.
If you decide to move forward, the next thing you should do is select a domain name that fits your keyword.
Choosing a niche for your online business doesn't have to be a long, drawn-out process. Following these three steps will help you choose your niche in 20 minutes or less, and you'll have your online business up and running in no time.
How to Know if Your Niche Idea Will Be Profitable
Now you need to determine how profitable your niche will be. To determine if the niche that you have chosen will be profitable, you will have to take the time to do some more online research. Here are four ways that you can tell if a niche will be profitable.
Check the Marketplace
Market research is your next step. Browsing marketplaces like Amazon and ClickBank, you’ll see what else is available in your niche. You can enter broad keywords in their "Find Products" search bar to uncover niche products. Take a look at the results and see what products are popular. Those at the top of the results page are the most popular and are a good sign that there is some demand. Comments on products provide valuable information about your potential buyers, what they liked, along with what they felt was missing.
Check Google Trends
Use Google Trends to quickly check to determine if your niche idea is a dying trend, staying the same, or increasing. When it comes to picking a niche topic, you want to focus on evergreen niches rather than the hottest trends. You can enter your niche idea or keyword into the search bar to see if it is a solid niche. Try different variations of your words to get the best results.
Validate Online Activity
You can look for popular blogs and websites to validate the online activity for your niche idea. If you find many authority blogs and sites on your niche idea, it's a good sign that there are customers online looking at that niche. A profitable niche will have easy to find hubs where the target audience hangs out, which allows you to network with the owners and drive traffic from those sites.
Look at Forums and Message Boards
Massive forums with lively discussions mean that people are passionate about the niche topic, are willing to discuss it, and ask questions about it. When people are passionate about something, they are almost always prepared to spend money on it. You can use FindAForum.net, redditinc.com, mashable.com, and quora.com as popular message boards covering a wide variety of topics. You’ll find this article on Reddit by Neil Patel useful; Getting Started with Reddit.
Taking your business online is exciting and profitable. You need to position yourself within your niche strategically. Look for a niche that is profitable in the short term and for long-term growth. Consider the lifetime value of your customer for your long-term analysis. If you’re selling a subscription service or a coach, you’ll be looking at how much your potential customer will pay you over their lifetime with you. This is often overlooked when entrepreneurs are offering new or different products/services. But a critical component.
Taking your business online is essential today if you have a brick-and-mortar space or not. People are searching for you online; make it easy for them to find you. Finding the right keywords depends on the strategy you are undertaking. Even though an organic approach can take a while to catch on, it won’t cost you as much as pay-per-click traffic. There are good reasons for both, so choose wisely. If you need help with your content approach, reach out. I help entrepreneurs win online with an organic keyword roadmap.
If you’d like to chat about your next project, reach out at Linda@shinyobjectmarketing.com
Linda James Bennett; day 39 of 365 writing an article every day, making you a shiny object in the world.