The Five Minute Profitability Test
Before you jump in, you want to make sure your niche is a money maker.Now again, some would argue that all niches are profitable.But recall, all niches can be profitable but some are difficult to compete in, others don’t have a big enough audience and others will be abandoned by webmasters who do not have enough passion to push through to profit.
The key to making money with prospecting is to go where the money is. In other words, look for money in motion.
Now, assuming you have identified :
- ·A specific audience (The Right Audience)
- ·An audience that you understand (Identified Their Urgent Need or Burning Desire)
- ·An audience you are excited to work with
- ·Topics of interest to your audience
- ·Keywords your audience is likely to enter in search engines
- ·Products and programs they are likely to buy (The Top Solution)
CONGRATULATIONS! You are ready for the final step!
Would you like to discover a simple 5-minute” Show Me the Money” Test to help you settle on your perfect money-making niche?
Let’s start with the example above of the starving crowd of recent law school graduates who have an urgent need to pass the bar exam. Start by identifying the top 5 keywords or long-tail keyword phrases they are likely to type in the search engines.
In this exercise, think of yourself as a prospector for gold. Once you have identified the top keywords your starving crowd is likely to type in, you are very likely to find gold.
I really hope you write that last sentence down in your notes.Knowing that key piece of information will be the difference between you wasting your time building a website and you making money from your efforts. So let me be redundant and repeat this key point:
Once you have identified the top keywords your starving crowd is likely to type in, you are very likely to find gold.
For this example let’s use the following keywords:
·Bar test prep
·Bar exam prep
·How to pass the bar exam
·Study for the bar exam
·Passing bar exam
Your goal for this simple test is to find at least one of the five market leaders listed below that sells products, books, courses or programs that are a good fit for your starving audience. Test out each of your top five key words in each of the following Big Market Retailers.
Make a note of which key words pass and cross off the ones that don’t. If you find a solid keyword phrase that passes at least one of the following Big Market Retailers, you have found a potentially profitable niche. Of course the more keywords you can identify that strike gold, the better for this test.
The Big Market Retailers to check for this test are:
1.Google Search
2.Clickbank
3.Amazon Kindle eBook Store
4.Skillshare
5.Udemy
Money Tip #6: Smart prospectors go where their audience hangs out to look for money in motion.
I was thinking of sharing my life experiences.. for example, how do i manage with unemployment, sister's marriage, life after graduation.. basically telling people out there that it is okay to go through it, i have gone through it, this is what i did.. i wonder where does this category fall under?
Could it be self help? unemployment?
Would be great to get opinions from you and anyone who can relate to my train of thoughts!
Thanks!
Reply
I have something of the same idea but i have no idea of how it can be profitable as a niche. I am a realtor and aspiring christian speaker to women's groups. I speak to women from my own experiences, abuse, death, infidelity, divorce and how they can get from heartbreak to where God wants them. In the real estate market I have been an expert on getting people home loans even when it seemed impossible. I have just started my ministry
and I am in the process of getting speaking engagements set up. If i can find an answer for my niche I will pass the informatoin on to you, please do the same for me.
Wishing you great success in your online business.
God Bless, Judith
You really have opened my eyes to finding a profitable niche. I have toyed with a couple of different niches but I couldn't decide on one that I thought would either be profitable or me having enough knowledge to make my site authoritative in order to drive traffic and potential customers to a website.
I am going to read your training again possibly a few more times and take notes.
The training here at WA is beyond words how good it is but they ask you to pick a niche in the beginning of the training and create a website based on that niche but they do not go into detail like your training here and I think it confuses members on what is the best niche to pick just as i have experienced but I think after reading your training it will give me a better understanding of what to decide on for a good profitable long lasting niche.
Thank you Again,
Craig
This was very well done, while being thoughtfully laid out for the student reader. I was really intrigued and impressed by the level of sophistication and expertise, which was evident in your presentation.
The material also contains an exceptionally high level of focus, on the relevant subject matter, while going into lengthy detail about the specifics involved (how it works).
Yet as I've seen before with Wealthy Affiliate Lesson plans it was pleasantly straight forward and was rather easy to comprehend due mostly to its clarity.
Finally, I enjoyed following along with your step by step concepts through how to actually profit online, because they really did illustrate quite well to me, where the money is.
Again, thank you so much for sharing this, because it was truly an awesome learning experience for me!
Redundancy, retirement, marriage, divorce, children, grandchildren. - Why did you start with Wealthy Afflilate? - Helpful if you decide the to follow Bootcamp.
What are your hobbies, interests. Sports ( any).
Why do you do the things you do?
Where to get your pets next Halloween outfit?
What problem do you want to help people with and provide them with solutions for?
I hope that is a little helpful. J
It seems I've been living this niche for the last 30 years.
Now I know something about it to write about i!
I think in everyone out there that there is some inner thought will eventually rise to the surface of your mind and you can use it!
I hope to have my site up soon and will show you what I mean!
