How to Find Profitable Business Niche Ideas
Finding the best affiliate marketing niche ideas to maximize affiliate profits is the starting point for your online business. Start brainstorming for ideas immediately with these surefire tips.
How to find the best business niche follows 4 simple steps.
- Create a list of ideas,
- Add more ideas to the list,
- Rank the list, and
- Determine profitability.
I cannot stress enough how important it is to take time choosing the right niche for you. Doing it right the first time will save time and money from avoiding false starts. I know from first hand experience. Plus, I have seen so many others waste time selecting a niche not suited for them.
Create a list of niche ideas
Create a list by writing down activities or things you love to do. Write them down as you think of them. We will sort them later.
And don't worry about the length of your list. We will add more ideas later.
For instance, you may like:
- Playing golf
- Playing guitar
These are potential niches based on what you already enjoy doing. Forget about whether you are an expert or not – jot them down.
If you do not have any, then ask a friend or relative what they like doing. But don't tell them why you are asking. Because they may have preconceived ideas about what you want to hear.
Next, consider what you have always wanted to learn but don’t know now.
- You’ve always wanted to learn better photography
- You’ve always wished you knew how to dance
- You find yourself drawn to the idea of living a sustainable lifestyle
All those “I wish I knew” topics are potential niche markets for you.
Sometimes, you can build a profitable niche from experiences you’ve had in life, such as:
- Surviving a troubled relationship
- Enduring a major health crisis
- Flipping a real estate property for a profit
Too often, people stick to the money niches even when they don’t like the topic. They are thinking, “someday, I will make enough money to focus on something love.”
How to find more niche ideas
There are many ways to find more niche ideas. My favorites are:
- Google Keyword Planner
Google Keyword Planner - Google has placed their Keyword Planner within Google Adwords. This is not a bad thing because it shows potential costs for keywords. Higher bid prices reflect higher demand, which also reflects your competition. But you will need to sign up for Google Adwords.
As an affiliate marketer, no doubt you will become familiar with Adwords at some point in the future. Exposure now will not hurt!
Clickbank - Clickbank is one of the biggest online top digital product retailers.
...sells digital products worldwide created by entrepreneurs. From advice for getting in shape to healthy cooking recipes and dating advice, ClickBank delivers digital lifestyle products to customers in 190 countries.
Jaaxy Keyword and Research Platform - Jaaxy is a subscription-based keyword research tool. Jaaxy collects keyword data from the three major Search Engines (Google, Bing & Yahoo). It displays the data in a manner that everyone can understand.
Magazines - If a niche is large enough to have a magazine of its own, then it has enough people interested in the subject to consider it as a potential niche. Visit magazines.com and browse through their categories page to find niche ideas.
Sort your list by most to least favorite
The first item on your list should be your most passionate item. Something you would do whether paid for it or not.
No one said this affiliate marketing side hustle would be easy. You need to have the passion to get past the difficult challenges.
Important note: This exercise finds what is best for you. But searching the internet will show you articles about the most popular, profitable niches. The top niche categories are:
But if your prioritized list does not include items in these categories, that is okay.
Chase your passion, not the money!
The worst thing that can happen is choosing a niche in which you have no interest.
When a person is chasing the money and is facing a challenge, they will bail out. They will bail out right into another money-losing proposition.
How to find profitable website ideas
Now that you have a list of niche ideas, the next step is determining which ones have the most profit potential.
Three methods of determining profitability are:
- analyzing trends,
- reviewing Google Ads,
- and reviewing Google Adword bid prices.
It is a good idea to evaluate what is currently trending. Promoting hot trends is a profitable niche in itself.
You never know whether there is a new innovative product launched that will make yours obsolete. So it pays to watch trends.
Google Trends is a good place to start. Not only does Google Trends list the most popular (trending) topics or searches, people can search trends using their own search terms (your niche). Trend data can be displayed over time, by region, by sub-region, related topics, and related searches.
Trend following tools include:
Google Trends – Google provides current information what is trending in the news and current events.
thinkwithgoogle.com – “Google’s source for insights, trends and research in digital marketing. Get creative inspiration, industry intelligence and best practices for your business.”
Trend Hunter – trend Hunter, a Canadian company, is the world’s #1, most popular trend community. Their collection of cutting edge ideas are the source of inspiration for industry professionals, aspiring entrepreneurs and the insatiably curious.
TrendWatching – TrendWatching does exactly that. They track and report on worldwide trends. Their services are used by over 1200 companies.
Reviewing Google Ads
Google paid ads are shown on their search results page as shown below for the "Ford F150 bed liner" search term example.
The ad results are returned based on the price bid for the respective search term. The advertiser willing to pay the most, will be in the first position.
Reviewing Google Adword bid prices
Going back to Google Adwords and reviewing search results will help analyze competition and potential profitability of selected niches. The assumption is that advertisers will bid higher prices for profitable subjects.
Finding profitable niche ideas summary
Now you know how to brainstorm and find profitable niches for your new business. Follow these steps:
Finally, select the idea that you love the most and has the most profit potential. Or choose an idea that has an acceptable level of profitability.
If you have any questions or comments about finding the best affiliate marketing niche ideas for you, please fill in and submit the form below. I love feedback.