Niche Selection, Passion or Profit?
When newbies ask about niche selection, I often read the advice that they should follow something they are passionate about. To some degree, there is a sense in that why would you advise someone to write about a topic they I'm not particularly interested in. After 10 articles, at the most any interest is dead in the water.
It makes sense that if you're going to be writing about something everyday for the next two or three years, it has to be something you're interested in. However, my point is just because you're interested in it doesn't mean there's money in it.
There are two questions that you have to ask before entering the niche.
- Is this a niche where people are buying products online
- Can you reach these buyers online and get them to your website
After all you don't want to resort to kidnap!
Many of you will have the same basic life skills. You will have gone through a state school system. Possibly had a part-time job and then transitioned to a full-time job.
You may have been to college in between night school or further studies, but basically you been trained to be an employee.
Nowhere in that training will you have developed any skills for working out how to go about building your own business. That's a big enough flaw to start with, fortunately, the training here at wealthy affiliates will cope with most of that.
Do what you love and the money will follow - Really!
You don't have to live in California, to realize that scriptwriter/actor/artist is a synonym for waiter! The problem with the idea that if you love doing something the money will follow as it sounds great. There is even some basis behind it if you love doing something you will probably be really good at it and people will see how good it you are paying money for that thing. Now I have got friends myself included who made that work in the real world. On the other hand, I have no doubt there are many plumbers who wanted to be professional footballers. In other words there is no guarantee it will ever pay off.
FIND A NEED AND FILL IT - REALLY!
This idea is recommended all the time but that is no guarantee that you will be successful. The flaw behind this argument is that people don't buy what they need. If that doesn't resonate with you then think about this if that statement were true then every fat person on the planet would dash out and buy diet books, diet products, gym membership and anything else that would get them healthier. Homeless people would dash out and buy homes. Just having a need is not a compelling reason for people to buy anything.
Instead find a want and fill it
What do people want?
That is a really good question. People want to feel good about themselves. That's why during the great depression in the 20s and 30s in America sales of make up and stockings were hardly affected, at least in volumes of sales. That means people may have bought cheaper stockings and cheaper make up but crucially they still bought it.
People want to feel good about themselves. What they buy to achieve this will be different from every person. Some people will want flash cars, designer homes, or a week off every week in four.
Want, is a really compelling reason for people to buy things. If you've been looking in Internet marketing world for many years or even many months you will have seen wonderful sales pages of something you really want. You may even abort that shiny new object, there is a very good chance that it is still sitting on your hard drive unopened.
Now if you
Jump headfirst in front of the money.
You are coming up with a strategy which has a solid basis. If you find an existing stream of money and jumping you will solve a lot of problems for yourself that is. You don't have to wonder if the idea will sell, you eliminate a boatload of guesswork and market research.
A lot of newbies want to find new markets so there will be no competition! Actually, that also means you have to realize that there probably will be no profits either. Sometimes there are exceptions if you are either jump on a new trend or create a new trend that this can work. Unfortunately my experience this works in about three in each thousand cases! There is a big potential to fail by using this strategy.
You may find the following article useful if you are choosing a new niche or deciding whether or not the niche you have chosen will be profitable
https://my.wealthyaffiliate.com/thecatherine/blog/profit-fro...
Recent Comments
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Very good point. My primary niche is about something I love. Its easy to plan and write, but sales aren't great because I didn't take into account buying methods of those who have the same passion as me. I didn't originally take into account my own buy methods. Its a great niche but not a huge money maker.
Sadly that's the trap that many people fall into. It does have its benefits though it allows you to learn and then transfer that knowledge to a new niche later
Great article! Bookmarked it for later reference. And yes, your niche choice should be at the intersection of love and money.
Thanks for the share, Catherine :-)
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You do need to balance both passion and money.
I've seen so many horrible posts written by affiliates trying to chase the money, writing about something they know nothing about in hopes that the reader will click through and buy a Rolex or a Ferrari, when the writer has only worn a Timex and driven a Chevy.
Most of the people in the world don't have the writing skills, at least when they start blogging, to convince someone to buy a higher ticket item. That's why it's best if they start with a passion.
But most people also have multiple interests, so usually they can find a passion which also involves purchasing items. That's the sweet spot for newbies.
One of my first sites was about fireplaces, because we had just had a gas one installed in our home. Lots of sales possibilities, good merchants, something I was interested in. Perfect combination of the three items needed.
Jeannine
yes I agree that's a totally feasible brilliant combination of the three things needed to make a great profitable niche