The first step to making money online is identifying a target group of people or niche. In order to make online home income you will need to focus your efforts on satisfying the niche’s needs or solving their problems.
Finding Profitable Niches
Before you get involved in a niche you will want to ask yourself these 3 questions:
1. Who is my audience?
It is best to narrow your audience rather than leave it broad. For example, targeting “people that enjoy the outdoors” or “want to lose weight” is too broad. Narrowing your audience to subcategories like “people interested in fly fishing” or “women who want to lose weight after pregnancy” will help narrow down your niche. Instead of trying to design a website that appeals to everyone, you have better chances of making money if you focus on a specific group. This group is your audience and you will want to focus every aspect of your website around what is important to them.
2. What are my audience’s most urgent pains, pressing desires, and immediate needs?
Spend time to research your audience and find out what is important to them. The most successful internet business niches are those that solve the problems of their audience. If you don’t know what their problems are, you will have a hard time creating content that is relevant to them.
3. What are money-making solutions to my audience’s problems?
From Question #2 you have identified several problems. Now you want to focus the content of your website on the problems that your audience is willing to buy a solution for. Research sites like Google, Amazon, Shopify, Clickbank, etc. to see where the money is going in relation to your niche. If you audience isn’t paying for solutions to the problems that you’ve identified then you may want to find another niche. If your audience is paying for solutions to their problems, then focus on the most profitable issues first.
Other Internet Business Niche Considerations
After you have gone through those 3 questions you will want to do additional research before you determine if this will be one of the profitable internet business niches.
1. Niche Competition. Some niches are so saturated with competition that it will take a long time to generate enough traffic to become profitable. If you are just starting out then you will be going up against already established businesses. This is not to say that you won’t be successful in time, however you will need to look at where you want to spend your time and money. I recommend focusing on internet business niches with high search volume and low competition.
2. Getting Audience to Your Site. There are a number of methods to get people to visit your site to include: Search Engine Optimization (SEO), Pay Per Click, social media, email marketing, backlinks, paid advertising, etc. Tailor your techniques for getting traffic to where your audience spends their time online. If your niche is “fly fishing” then sending website links to your Facebook friends will be a waste of time if none of them fish. You will find better success if you find a Facebook group or specialized forum and engage your audience there.
3. Revenue Generating Techniques. In Question #3 we learned which problems our audience is buying solutions for. You will also want to have a strategy on how you will generate revenue from your internet business niches. Will you use click-through advertising, affiliate links, Amazon product links, paid membership, or develop your own products? Develop a clear vision on how you will generate income from addressing the problems for your target audience.
4. Learn the Trade. Even after you have found a profitable online niche there is so much more work that needs to be done to ensure your website is successful. I recommend that you join a group like Wealthy Affiliate to teach you everything you need to know to turn your passion into online revenue. Wealthy Affiliate is the best program to teach you how to make money online.