How to choose a profitable niche to Starting a blog with profitable niche is like having money in our own hands. Many bloggers out there are making their earnings by selecting a good niche.
Niche will be the heart and soul of our blog if selected properly.
Choosing an appropriate niche is the main parameter behind a good blogging. Every new blogger having the chance of making a mistake while choosing the niche and such mistakes will lead us to big failures.
Before you start writing, you must be aware of the right niche to start with. The 1st step in blogging is trying to find out what reader are looking from your blog, what are the most profitable keywords and how to choose a profitable niche and how you can make money with your blog(s).
How to choose a profitable Niche for a BLOG?
Identify Your the Audience
If you are an early stage entrepreneur looking to start a viable business in a market you are passionate about, rather than focusing on what product you want to sell, start first with understanding your audience.
Research your Niche Market Keywords
You want to identify what keywords your audience uses when they research topics related to this niche market, especially searches related to their problems, pain points or deepest desires.
This information will not only tell you what topics your audience cares about the most, it will tell you whether or not there is enough profit potential in this niche.
A easy way to start with is the free Google Adwords Keyword Tool. You can use it to identify the keywords your audience is using to research products, services, solutions, and information related to this niche market.
The tool provides lots of useful data related to these keywords such as local and global search volume, level of competition, average cost per click (CPC) and more.
What we want to pay attention when we research industry keywords is the monthly search volume. The higher the search volume, the bigger the market.
Analyze the Competition in the niche
The level and quality of competition in a niche is a good indication whether the niche is lucrative or not. The most lucrative keyword niches, are typically characterized by:
- High average cost per click (CPC)
- Multiple pages of ads
- Advertisers in the top 3 premium positions
- Ads that are highly targeted to the search keyword
- The lack of PPC advertisers suggests that this key phrase isn’t particularly lucrative
Research Industry Trends
Another piece of information to have is where the niche market is going. A free tool to use is Google Trends.
If you want your business to be a long term business, it’s better to establish yourself in a market that is growing or at least relatively stable, rather start your business in an environment that’s shrinking.
Decide if you Want to Enter the Niche Market
Now at this point, you’ll need to decide if the niche market is worth getting into.
If you see a many of highly targeted ads at the top and in the right side bar, on multiple pages, with the top brands in the market consistently in the 3 premium spots, it will probably be tough to break into that market as a newbie.
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