Information Marketing: How to find your most profitable niche
Are you struggling with where to go in the information marketing space? It can be hard to know what niche is going to work best for your blog. There are so many options! But don’t worry, because I have a list of steps that will help you figure it out. This post is a guide to show you how to find your most profitable niche in the information marketing space
If you want to stand out from the crowd, here are three simple steps: First, identify a market need that people don’t know they have yet. Second, create an offer for this need. Third, deliver it to them.
The best way to start is by looking at what kind of people are already consuming similar content online. From there, ask yourself if any particular topic interests you more than others.
The information in this post will never become outdated because the principles discussed are the timeless principles to building a successful info-business.
As such, I urge you to read it now and apply those lessons as soon as possible!
“You’re not an information marketer, are you?” If you’re just starting out in the IM space, this is a common question I get from new people.
The answer is simple – yes, I am.
And there are plenty of others who are making great money in the genre… so it stands to reason that the easiest way for you to make money in this space is by following what they’re doing, and learning from them.
So, how do you find out “what everyone else is doing”, and join the ranks of those who are making bank?
One simple answer: Niche down.
What is a niche market?
You might be thinking, “I already know what a niche market is”…and you’re mostly correct!
A niche marketing is “a specific section of the market on which a product is focused” (Source: Wikipedia).
That’s exactly what you want – a highly targeted, laser-focused audience that has very specific needs and wants.
Another way to think about a niche is: “A small, tightly knit section of a larger market”. (Source: Investopedia).
On the surface, you might think that all niches are created equal. But there’s much more to it than just finding an audience that has specific interests in something – you want to find out what makes this audience tick, and how they behave – then learn to speak their language.
It’s not enough to identify the topic of someone’s interest; many marketers make the mistake of thinking that everyone who likes topic A will like topic B as well… but this is simply NOT TRUE!
How to find your most profitable niche
I’ll be covering each bullet point in detail below:
1) I want to make sure my target market is one that has the ability to pay for what I’m selling.
2) There should be very clear demand in this space, and people who are actively looking for the solution I offer.
3) The competition should not be over-saturated (more on that below).
4) The more specific these conditions are, the better…it makes it easier to dominate!
Let’s go over each of these points so you can see what I mean…and why they matter:
1 – Target Market ability to pay for what you’re selling
This seems obvious enough on the surface, but let me explain why it really matters: if someone doesn’t have money to pay for your product or service, there are plenty of other ways they can satisfy their needs.
If your target market is one that gets paid every time they click on an ad, sign up for a free trial offer, sell something in eCommerce…or whatever else… you have to be sure that their entire business model revolves around generating revenue at all costs (this applies to both B2B and B2C niches).
2 – Clear demand and people looking for the solution you offer
This may seem pretty self-explanatory as well; people show interest by clicking on ads and going through lead generation forms.
They also ask questions about what you’re selling when signing up for newsletters and filling out contact forms (and if you can’t get at least 10-20 visitors a day coming to your website (and even far more), you have no business selling anything online).
It’s not enough to learn what keywords are popular in this space – you need to dig deeper and find out WHY people are searching for information about these topics.
What problem is my target market trying to solve? What are they struggling with right now? And how will understanding this help me better serve them in the future?
By asking yourself these questions, it will be much easier for you to come up with creative ways of publishing useful content that attracts hungry buyers who want your solution…and keep them coming back so they become loyal followers!
3 – Competition should not be over-saturated
This is where you want to be especially careful – making sure that this market isn’t over-saturated with competition.
People are very quick to jump into any profitable niche or industry without doing their research, only to discover that they’re not the only ones in it…and these markets can get extremely saturated very quickly!
The best way I’ve found to determine how competitive a space is, is by running some simple Google searches for popular keywords related to my topic of interest. If I notice there are already 10+ websites ranking on the first page of Google, AND most of them have decent traffic stats (2k-5k per month), then chances are it’s too late for me to enter this market effectively.
Take a look at my earlier post on how to determine your competition
4 – Be specific
The more specific you can be when choosing a niche, the better. Think in terms of hyper-specific niches that could generate $100k+ per month if done correctly.
I’m not saying you should “niche down” and choose something way too narrow for your abilities… just make sure you’re very clear on what topic or industry it is that interests you before throwing yourself out there!
After all, you’ll have much better odds of building authority in an ultra-specific market than becoming Mr/Mrs “Generic Marketer”.
What I mean by hyper-specific niches?
Hyper-specific niches are niches that are so small in size they could generate at least $100k+ per month. I’m talking about niches like “compact SUVs” or “cheap used cars for sale in Texas”.
Most of the time these markets don’t get much attention because there’s not enough search volume to make it worth your while, but there is always a certain set of people out there who will be searching for this information on Google (and if you do it right, you’ll be one of them.
Choosing a profitable niche doesn’t have to be a guessing game – once you know how to research your market properly, the only thing standing between you and explosive traffic is putting in the work 🙂
In the meantime… are there any topics or industries that interest you? Why? Which of these “must haves” are most important for a profitable online business?
It’s up to you now, however, I am more than available to answer your question.
Finding your niche in the information marketing space may seem difficult, but it doesn’t have to be. With a little time and research, you can find a profitable niche that will allow you to create content for years without running out of ideas or topics.
Your niche should be determined by what’s probably selling provided it connects with what best suits your skills and interests. The right niche will allow you to grow the most profitable business possible while also enjoying it more than ever before!
But what if it’s not enough? What should you do next to find the most profitable niche in the space? Join my mailing list! I don’t want to leave any stone unturned, so as a subscriber of mine, I’ll send out more guides on how to succeed at this game.
Feel free to comment your reserve, questions, positive contributions, etc using the comment box below.