What makes an internet marketer successful? Is it because he is keen and patient? Or is it because he is simply at the right place at the right time? The truth is, a successful internet marketer has to be someone that does the right thing at the right moment because opportunities appear differently to different people. Hence in internet marketing, being in the right place and right time would normally mean being in the right niche at the right time. How then can you find the best niche suitable for you and one that actually will make money for you?
There must be a strong demand.
First and foremost, the niche that you choose to work with must be a hot niche. In a pool full of fishes, you only need to swing a net into the water a few times and you will be sure to catch some fishes. However, if a pond has limited fish and lots of room for the fishes to swim away, it will be extremely difficult to catch yourself some fish unless you are an expert that knows the exact behavior of the fish and you might have to use specific techniques to catch one fish at a time.
From this analogy of fishes, you should be able to tell just how big of a factor a specific niche can mean to your success. If you are playing in the wrong niche, then you are bound to fail. If you wish to for a bigger chance to win in the internet marketing game, you will have to choose your niche correctly. You do not want to be in a mega niche that is not only full of fishes… but also other predators as well. These predators or rather your competitors will eat you alive if you are inexperienced. Hence, if you are to survive, you must start in a niche that is moderate and one that you can be sure to be able to get you a head start on your journey.
Big money vs. small money.
The next important factor that you need to take a look at is if your niche is worth your time or not. There are a lot of niches out there that are making more money than some because the acceptable price point in the niche. For example, the current acceptable price for an information product in the Internet marketing niche is $27 – $37. Any more than this price point will give you a lot of trouble in trying to get it to convert. However, 5 years ago, the price point for this niche would be around $97. The price has dropped significantly since then due to all the competition and the norm that has been going on.
This happens in many other niches as well. Even mega niches such as the ‘weight loss’ niche is suffering from this price point problem as well. However, there are niches out there that still accept a higher price point and it is this kind of niche that will be worth your time because you will be able to earn more money with each sale. Expert marketers would all agree that it is easier to sell a high ticket item that it is to sell a hundred of small ticket items. If you’ve any experience in selling information products at all, you should know that just how easy it is for you to make more money if you are selling a higher ticket product than selling a $7 product although you are spending the same amount of money and effort to get the same amount of traffic for both products.
Hence a good niche should not be over saturated with other competitors and that the niche should still be accepting a price point that will make you a lot of money. When you are selling a product for $97, it is much easier for you to accumulate wealth and you will have more budgets at your disposal to get more traffic. Affiliates will be much happier with the amount of commissions that they get and they will stick to promote your product longer as well because they know their effort is worth more with you than anywhere else.
Passion And Knowledge
Now we know how important a niche can mean to your success and how the demand and competition level of a niche determines how good a niche is, the next question that we must ask is if the niche is suitable for you or not. While some niche may be lucrative and hot and has all the signs in the world that you can earn money from it, there lies a question if it is an ethical niche or not. Are you morally in tune with the niche or not? If not then you are better off looking for another niche. If the niche can pass your moral values and you are comfortable playing in this field then by all means go ahead with it.
A good niche must be something that you have a deep understanding about. Otherwise, you need to make the commitment to spend time and invest in learning about the niche. This is ultra-important for long term because you need to be able to understand the niche inside out in order to lead your business into success. It’s not easy to learn everything about a niche… and this is why it would be a clear advantage for you if you already have some sort of knowledge about the niche or if you have are passionate and interested in the niche. It will make your efforts within this niche a smoother process instead of a dreadful one.
If you are in this for a full time income, then there should be no reason why you should not try to find a niche that you will love and be passionate about. You will find that a niche that you love can fuel your days and you will be motivated to work on your business easily. Without a clear and strong motivation, anyone is bound to fail. Therefore, be sure that you take the time to choose a proper niche instead of just jumping into a niche that everyone is at.