Making money online all comes down to one thing…
Choosing your niche.
Choosing the right niche is the key to online business success. Most Internet Entrepreneurs try to start an Internet business by marketing to anybody and everybody. When it comes to marketing your own business and products and services online, you must choose one niche market to deliver your marketing messages to and stick to that specific area of market focus.
Finding the right niche for yourself and building a business out of it is the only true way to online success.
Here’s three steps you can take to make sure you choose a niche that fits you perfectly so you can begin your journey to getting rich like the online success stories you read about. Remember, it’s a journey.
Step #1 - Niche Idea Generation
The first thing you must do is niche idea generation.
Begin by writing down what you are most passionate about in life. The things you like talking about most would be a great place to start.
Whatever you never seem to be quiet about once you get going on the topic is what should be at the top of your list in the form of topics, hobbies, skills, and interests.
Your goal is to get about 20 different ideas of niches you may want to build an Internet business out of written down on a sheet of paper or saved in an easy word processor like Microsoft Word, Note Pad, or even Open Office Suite.
Step #2 - Niche Idea Research
The second step is to begin researching your niche.
The first thing you want to know is if it has a good chance of being profitable. Find out how profitable it can be by simply finding out if your niche market is large enough in number, easy to reach with your marketing messages, and has money to spend. Simple do a few searches through Word Tracker, Click Bank, and Google to find this info.
The second thing you want to know is what it is already willing to buy. Browse through the bestsellers lists on Amazon and Barnes&Noble as well as ClickBank Marketplace and see which titles are selling most. The topics of those titles is what your market wants.
Check each niche idea that has passed the research in step #2. If a market passes this initial research we can now make absolutely sure these markets are not only profitable for others but will be profitable for you.
Step #3 - Niche Topic Testing
Thirdly you must test to see for sure whether your market is going to buy from you.
Go to ClickBank.com and pick out a product in your niche that is sold primarily through affiliates - something that has a high gravity of about 80%. It should also be high enough in price to recoup a small investment or break even – around $49 or so.
Advertise your affiliate link for that product in Google AdWords and drive about 400 visitors to the site for a low cost per click. Your goal is to get a .5% conversion rate.
That means that one out of every 200 people will buy your product through AdWords. If they do, you have a profitable niche on your hands.
Now all you have to do is build an Internet business in one of the niches that passed all three steps.
That’s how you make money online and get rich in your niche.
