The Key To Finding The Most Profitable Niche Markets
The typical characteristics of profitable niche markets are high demand and relatively low supply or low competition. You want to choose a niche with a high search volume and relatively low advertising competition to give yourself the best chance of being competitive and working your way onto the first page of the major search engines. Many internet marketers start out with very small advertising budgets hence choosing a cluttered and competitive niche will be counter-productive and quite mentally discouraging. Instead, do your due diligence and find a niche with a customer base whose needs are not currently being met to their satisfaction. This gives you the opportunity to step in and fill that void.
The most profitable niche markets have remained fairly stable over the last 5 years. Making money online is always a profitable market. A search on the phrase “Internet marketing” had 265,000,000 results for the nearly 3 million searches done globally for that term during March 2010. This is an extremely popular market and unless you are a big-time marketer with a bottomless ad budget, your best bet to make money yourself is to find a smaller niche within this market.
Health, including weight loss and smoking cessation, are also extremely popular search terms. The phrase “weight loss” had 16,600,000 searches during March. About 186,000,000 websites contain information relevant to that search term and one million people searched for ways to quit smoking. Again, these huge markets demand that an Internet marketer wanting to make a nice profit, must focus on a much smaller segment of the larger market.
The economic downturn saw millions of people losing jobs and then being unable to pay their mortgages and other bills. Some lost their homes to foreclosure. Some declared bankruptcy. Others were chronically late on their payments. All of these situations took a heavy toll on their credit scores. People are not happy with this and are looking for ways to repair their credit rating. The term “credit repair” had 673,000 searches performed and yielded 41 million sites on the result page. In looking for a sub-niche, you might find that the term “credit card debt solutions,” with 5400 global searches, looks more promising. But when you research the number of websites with information for this niche, a disheartening 3,000,000 results appear on the result page.
Some other profitable niche markets are travel, eco-friendly, sustainable living, energy alternatives (solar, wind), personal development, gaming, divorce, pets, relationships and dating. All of these niches cater to so many different populations that you must find a more specific niche, or sub-niche, to focus on if you hope to make a decent income.
To identify a profitable niche will take a bit of research. Use a reliable keyword tool like the Google AdWords Keyword Tool to find out the number of searches that have been done for particular keywords (which can be the names of the niche markets). The ideal number of searches you are looking for is between 30,000 and 70,000 Global Monthly Searches, along with below average competition. This will ensure you maximise your chances of generating the highest profit.
Not much has changed in the way of the most popular markets. However, the most popular and lucrative markets are highly competitive. This is why keyword research is essential. This does take a little time, but it will be time well spent once you identify that profitable niche and begin to generate a nice income from your efforts.
Sarah Housley is a Successful Internet Marketer and Financial Freedom Coach with a passion for helping others achieve their ambitions and live their dream lifestyle. To read her full bio and find out how she can help you, visit WhoIsSarahHousley.com Get a totally unique version of this article from our article submission service