How to Find a Product for Your New Niche
Finding A Product For Your New Niche
So, you have undertaken all of your keyword analysis, using google adwords and for the more technically advanced, a keyword tool such as market samarai or wordtracker and have identified your new niche. Most importantly, not only have you identified your niche you have drilled down into your long tail keywords to identify those with low competition that you have the ability to quickly get ranked for in google.
The next step then is to make sure that you can make money from your niche. There are a number of ways this can be done including:
- Setting up a website, I suggest using wordpress, providing valuable content on your niche and incorporating google adsense on to your site;
- Finding someone else’s product to promote and getting paid an affiliate commission. This can be either a digital product (recommended, especially if you are starting out) or a physical product such as becoming an affiliate for amazon or ebay; and
- Having your own product to sell. If you are an expert in the niche you may be able to create the product yourself or if not don’t despair, there are places you can outsource the product creation.
Let’s briefly go through each of these in turn. As discussed before, all of these techniques require a website with valuable content on them which will be the subject of separate blogs.
The idea behind a profitable google adsense website is to identify keywords which have a low competition and a relatively high cost per click. This is the benefit of using software programs such as market samarai or wordtracker as these programs will quickly help you to identify these keywords with more accurate competition results. I suggest that you have say five to ten keywords that have a decent cost per click of at least $2. You can then do some maths based on the number of exact searches for the keywords per month and the percentage of searches your website will attract (which will depend on your google ranking). You really need your website to rank on the fist page of google for each of these keywords. By doing this analysis you will be able to work out whether it is possible to achieve your required rate of return.
Promote someone else’s product
One of the attractions of internet marketing is you do not need your own product when you are starting out to make money. For digital products, the biggest affiliate site is clickbank. This is a great place to start with as it will give you a quick idea of whether there are going to be suitable products in your niche to sell and how popular they are. You should be able to identify up to three high-selling products on clickbank in your niche. generally commissions on products sold through clickbank range between 50% and 75%. It is even more attractive if recurring commissions are available.
It is also possible to promote physical products. One of the most common methods is to by becoming an affiliate for amazon. It should be noted though that returns for physical products tend to be lower, often less than 15%. Utilising this method you either need a product in your niche which has a high price-point or otherwise require a large volume of sales.
Create your own product
Ultimately, it should be your aim to create your own product. This way, you get 100% of the profits. However, to achieve this it is important to do your market research to make sure it is a product that will be in demand. Once you have identified your product you can either create it yourself or outsource it at places such as elance or odesk.