How you can find out a profitable niche, whether people are making money from it already. You can use these guidelines to decide whether any potential niche market you find could be monetized.
You wouldn’t want to waste time and money starting a business if you aren’t going to be able to sell to people in the given niche market.
Read more: How to Come Up With Niche Site Ideas?
Search Engine Adverts
If there are companies already advertising on search engines, when you do searches related to your niche market, this is a great sign.
Let’s look at a blatantly obvious profitable niche market that money can be made in!
As you can see there are loads of adverts, at the top of the search results and up the side of the organic listings.
Let’s look at one that is a noticeable contrast to this:
In the above image there are no adverts to be seen in the Google listings for “how to make a basketball hoop”.
These are 2 extreme examples but they show the point I’m trying to make!
Media Buys on Websites to Find a Profitable Niche
When you do a Google search for things related to your niche market and you find websites and blogs etc, do you see banners and adverts for products on those websites?
This is a good sign that there are products being sold and people making money from this profitable niche.
Here’s a website I found when I searched for “how to build arm muscle”:
You can see, if you go to the website and scroll through, there are various adverts for related products and services to men’s health and fitness products.
Whereas a website around how to make a basket:
While there are adverts, they aren’t related to what the person who’s looking for information on making a paper basket would find useful to what they want to do.
If you see ads in Facebook for the profitable niche market that you want to get into, then this shows people are willing to pay for ads to that target audience.
This also is based on the assumption that you are interested in the niche market already, having liked pages related to it, because ads are being targeted at you.
Let’s look at what’s being advertised to me:
While the Amazon gift card will be a mass interest thing, GoToMeeting is a webinar software, but this could be used across different niches because it’s a tool rather than specific information.
However, the following advert shows a profitable niche that can be monetized:
In this case, because I’m an Aston Villa fan, I’m being targeted to bet on a match. This shows that gambling is a profitable niche market that businesses are willing to spend money to advertise in.
Here’s another, showing that people who want to get traffic to their websites is a profitable niche market that people are spending money on advertising in:
Facebook Groups/Pages With Followers
This is one that shows more that people are passionate about a profitable niche market, but that’s still an indicator that might suggest that people are willing to spend money.
Also, the pages of businesses that have taken the time to build a page show that there is potentially money to be made.
Here is a great sign that people are very interested in getting 6 pack abs/a flat stomach.
There may not seem to be a lot of people in the groups, but there are a lot of them and some have higher numbers.
Also, some of the groups being private shows that they only want certain people in their group.
This might be because they have bought a product and are offered a Facebook group as a bonus to the purchase.
Books That Are Selling on Amazon to Find a Profitable Niche
This is pretty straight forward: if a book on a given topic is making lots of sales on Amazon, then you can be confident that there is money to be made.
Here’s an example with a book with a lot of reviews, showing that it is being bought:
And here’s a recent book that’s sold enough in the first few days to make me think that there’s money to be made:
Here’s another profitable niche market that I’ve found by typing it into Amazon, just out of curiosity, because a friend of mine has them on his house and says the electricity company pay him for the energy that they produce:
Find a Profitable Niche From Sales in Affiliate Networks
If you see products selling in the niche you are researching, when you browse affiliate networks, and they are selling, there is a good chance that there is money to be made in that profitable niche market.
I specify that they are selling, because, while someone has taken the time to create a product on a given niche market, you can get a better idea of what the profitable niche market is like by how well the product is received by the market place.
For example, here we see, in Clickbank, more evidence that cake decorating could be a good profitable niche market that you can start a business in:
I’m not going to go into the “Gravity” of a Clickbank product, but suffice to say, it can be used as an indicator of how well the product is saying, but there’s more to it than that, beyond the scope of this product.
Using Market Samurai Search Volumes to Find a Profitable Niche
I like to use Market Samurai to get search volumes for keywords. If a lot of people are searching for certain keywords in your niche, you can be fairly confident that a product would sell well to them.
Here, we can see that 398 people are searching for “running tips” daily. That’s quite a chunk of people to get an information business in front of.
At the other end of the spectrum, here are how many people who are searching daily for how to make baskets:
19 people per day searching, would suggest that not a lot of monetary potential can be found in this particular niche market.
Finding a Profitable NIche Through Magazines Being Sold
When you go into shops that sell magazines, seeing a monthly magazine available for purchase in a niche market shows that people are willing to pay for information in that profitable niche and therefore that you can potentially make money in that market as well.
So not only are these shops good for giving you niche market ideas, but, because the shop is selling magazines, you know that there is money being spent by people.
You can also have a look through the magazines, to see adverts for other products that will give you ideas for other niche markets or for other products that are selling in that profitable niche.
So, with the above information, you can see how vast the Internet is, for creating a profitable niche market and make money from.
There are lots of ways to come up with niche market ideas and then a set of indicators that can be used as to whether that niche market can be used to make money from.
Obviously, there are exceptions to every rule and these aren’t meant to be set in stone rules, but you can use these ideas as guidelines to help you decide whether any potential niche market you find could be monetized.