How To Find A Profitable Niche Market In 3 Easy Steps
This post is part 5 of The Ultimate Guide To Finding Your Profitable Niche.
You might be making this mistake too...
People looking for their first niche often think they have to find something that no one else knows about.
Or at least niches that other marketers aren't already competing in.
This really isn't the case at all.
There are no unknown or new niches.
They are just new to you.
Someone else always knows about them first.
And think about it...
Even if you find one that's not being actively marketed in there's likely a reason for that, usually that there's no demand for it or no money to be made.
And if you genuinely find a brand new niche there will be little demand, few products to promote, and nowhere to find your target audience.
That's hard for an experience marketer let alone a novice.
So the best niches you can look for are evergreen niches that already have:
- A proven track record.
- High demand.
- Lots of easy to find customers online.
- Endless products on sale.
- Lots of websites, social media groups and forums.
These makes much more sense as you know there is definitely money to be made.
Oh and just so you know...
Before we dive into this section grab a notebook and pen or open a Word document.
The best thing to do is to follow along as you read it and record what you find.
This will save you time as you won't have to go back and do it later.
Go do that now.
Then let's discover how you find a niche market in 3 easy steps...
1. Look At Your Interests and Problems
By doing this, you'll easily find a niche that's profitable.
As I talked about earlier in the guide you might want to pick something you are interested in or knowledgeable about.
So grab your notepad and a pen (or open your Word document) and record all your hobbies and interests to begin with in one list.
In another list write down any problems you have in life, health, financial, love life and other day to day challenges you face.
In a third list jot down anything else you you're interested in learning more about or think would be fun.
Spending even just 5 minutes doing this can give you a huge list of great niche ideas.
You should have 3 lists of ideas now.
Any good ideas popping out at you?
You don't have to evaluate these ideas for demand or profitability yet you're just brainstorming.
Next do point 2....
(P.S. If you'd like to download a free list of 1,781 profitable niches click here or the image below)
2. Spend A Day With Your Marketing Hat On
You'd be amazed at how many niche ideas you can come up with in a single day just by looking at everything from a marketing point of view.
Here's what to do for the rest of the day (or tomorrow if it's already late)...
Carry around a notepad and a pen (or you can use your phone) and take notes of everything you in the day...
- Conversation you have with others.
- Things you hear about on the news.
- What you watch on TV.
- Read in papers or magazines.
- Problems you face.
- Things you see.
- Products you use.
- Thinks that make you, and the people around you, happy and sad.
- Activities you do
- Places you visit.
Think about all these things one by one.
Then ask yourself the following questions about each one:
- Are they things people, other than you, are interested in?
- Do people spend money on these activities?
- Are there problems present that people need solved?
- Are these things that make people happy?
Write them down so you don't forget them.
If any, all, or some of those answers are yes, then you have potential niche ideas.
By the end of the day you'll have a whole list of potential niche ideas.
You should also do point 3 right now...
3. Examine Trends & Markets On These Websites
This section will help you find some popular trends and profitable markets.
Here are some online resources that literally give away profitable niche ideas on a plate.
Go through them one by one and take notes of EVERYTHING you find.
I'm going to show you how to evaluate each idea for profitability later.
The worlds biggest online retailer sells pretty much everything and is a great place to find red hot niches and products that are selling.
You can find sub-niches of topics you have an interest in.
Or niches you never knew about.
Let's look at how to do that below...
Here's the step by step process:
- Click on the 'All' tab at the left of the main search bar it will show a list of categories or 'niches'.
- Click on a specific category, that interests you or at random.
- Then leave the search box blank and hit 'Go'.
- A new page will display and on the left hand side a whole list of sub-categories or 'sub-niches' will pop up.
- Click a sub-category and it'll take you further down into the niche into a more specific sub-niche.
- You now have drilled down into specific niches and can drill further still.
You're literally "niching down" further and further into super specific niches.
By doing this, you'll find a niche and get an idea about the products that sell in it.
The image below shows lots and lots of sub-niches by doing this.
And even better is you're seeing actual products which sell.
You can 'sort' by 'new and popular' to find new 'hot' products or sort by 'customer review' to see what people in the niche think of the products.
How To Find Amazon Best Selling Products
Even better is you can choose 'best sellers' from the navigation bar at the top of the page just under the search box and see what's currently selling best.
This is updated hourly.
There's no way you wouldn't be able to find a niche through Amazon. There's plenty.
And you can use the worlds largest digital product marketplace too...
Clickbank is the #1 digital market place online.
The Amazon of digital goods.
Their market place listings much like Amazon show a list of niches and sub-niches with a list of products available.
Go to Clickbank.com and click 'market place'.
On the left hand side you'll see the categories section.
The top level categories are broad markets or niches, click the little arrow and it'll bring up a list of more focused sub-categories or sub-niches.
Click on the sub-categories and you'll see a list of products, these will give you even more ideas.
If there's a lot of products available on certain topics it's a good sign that this is a profitable niche.
People don't tend to make products that no one is interested in.
Write these ideas you stumble upon down.
Talking about stumbling upon ideas....
Stumbleupon allows people to find websites based on their interests.
Here's the process for finding niche ideas:
- Go to http://www.stumbleupon.com/interest
- Click 'popular'.
- You'll be shown a list of different interests as wide ranging as Action Movies to Crochet to Astronomy
Or alternatively use their curated list option:
- Go to http://www.stumbleupon.com/discover/lists/curated
- Click 'most popular'.
- Each category represents a different topic which you can click.
- Clicking one any of them then brings up a number of sub-topics or sub-niches.
Each topic represents a possible niche, just think about whether it's something people spend money on.
Yahoo shows popular topics that are 'trending' in the news.
This can be a good way to find hot upcoming niches that you'd otherwise never know about.
- Go to Yahoo.com
- You'll see the 'Trending' section on the right hand side of your screen.
- Consider whether any have the potential to be a profitable niche.
It shows trending news and products.
Think about whether it's something people spend money on.
Remember and write anything interesting down to save repeating this task later.
This next resource is an little known goldmine for niche finding...
(P.S. If you'd like to download a free list of 1,781 profitable niches click here or the image below)
Find A Forum adds only the most active and largest forums to it's databases.
That means if there's a huge and popular forum on the subject there's a big demand for it.
- Go to Findaforum.net
- Click to the "top forums" section here: http://www.findaforum.net/Statistics.aspx
- Scroll through the list looking at all the different forum topics.
- Alternatively use their categories feature here: http://www.findaforum.net/ShowCategories.aspx
Some of the most popular forums are a skyscraper and a tractor forum, who would have known?
Here's some of the other popular niche forum topics from their list:
- Car Modifications
- Major League Gaming
- Star Trek
- Mixed Martial Arts
If there's huge discussion communities around a niche then chances are it's very profitable.
Write down any that interest you for later.
And remember right now you're just brainstorming ideas.
I will show you how to check if each idea really is profitable later.
Twitter is also a really good place to find trending topics...
Logging into twitter and checking what's 'trending' on the left hand side of the page (you know the #hashtag stuff you see) can bring up some hot, new, trends.
Sometimes you'll find nothing but random nonsense of the day.
Other times you'll find hot new markets and products.
It's worth a look.
Note anything that interests you and / or people spend money on for later.
This free tool by Google is a great resource..
Google Trends shows hot searches of the day / month / year meaning you can can find out about some currently popular search trends and niches.
- Go to https://www.google.com/trends/
- Scroll down the page to the "stories trending now" feature.
- Alternatively click on 'All Categories' at the top and choose one.
- The "Science / Tech" category can bring up new product and tech trends which are usually profitable.
- Browse through the different categories taking note of ideas that interest you or that people spend money on.
- Or use the https://www.google.com/trends/hottrends feature to see trends across all niches.
- Or the https://www.google.com/trends/explore feature.
Note down any ideas you get from it.
Anything that interests you or that people spend money on is worth taking note on.
This next one is an absolute goldmine for finding profitable niche ideas...
Flippa is a market place to sell profitable websites.
This means we can check what sort of websites are selling to know what niches and profitable.
The trick is to look for websites which successfully sold for large amounts of money on Flippa.
Because if someone else can make money from that niche then sell it for a large sum to another, we know there's obviously huge potential to profit from it.
Here's the step by step process to find profitable niches using Flippa:
- Go to https://flippa.com/websites/just-sold
- Click 'more options' below the search bar.
- Change 'monthly profit' to '$1,000 to $20,000' (the maximum Flippa lets you set) to make sure you're picking websites with a proven income record.
- If you prefer to only see websites that make money from 'affiliate marketing' for example choose 'Amazon' and 'Clickbank' in the 'monetization' drop down box.
- Click the green 'search' button
- You'll be shown a list of recently sold websites and how much they sold for.
- You can sort by "highest to lowest price" if you wish.
- Clicking on a listing brings up more details about the website and sale including the niche, the sale amount, the way they make money and more.
- Look for sites that sold for a lot of money and / or websites that interest you.
- All are profitable niches as proven by the fact they made money and just sold a website.
My search brought up websites in the following niches:
- Baby Care - sold for $65,500
- To Do List - sold for $49,000
- Bulk SMS Send - sold for $47,500
- Celebrities Net Worth - sold for $38,100
- Adult Toys - sold for $38,000
- Japanese Car Parts - sold for $36,100
- Hoverboards - sold for $25,000
- Dog Care - sold for $10,500
This is a great way to find profitable niche ideas for your own website.
And here's another great way...
https://www.magazines.com/ lists magazines and publication on sale.
Real world magazines that people buy and subscribe to.
If a topic has magazines available for sale then you know it's going to be profitable.
Big publications don't print magazines in unprofitable niches.
Here's how to use it to find niche ideas:
- Click on the 'all categories' tab at the top.
- It will bring up a list of sub-categories as a drop down menu.
- Click on any topic that takes your interest.
- I chose the hobby category.
- It will bring up a huge list of magazine subscriptions available.
Here are just a selection of niches I found:
- Puzzles & Crosswords
- Fine Woodworking
- Bass Fishing
- Jewlery Artist
- Teddy Bear Review
- Murder Mysteries
The lists go on and on.
Each one represents a profitable niche.
If people spend money on monthly magazine subscriptions then they'll spend money online too.
Jot down any ideas that you are interested in.
Then try this next step...
Ebay Popular shows popular products available in their different categories
This lets you see what products are selling and also gives you ideas for wider niches.
Here's how to use this:
- Go to http://datalabs.ebay.com/popular.html
- It automatically shows the 'top sold' across all categories and updated every minute!
- Each of the item is a current top selling product and part of a potentially popular wider niche.
- It tells you how many of each item has sold.
- Consider what each item is and what niche it's part of.
- You can also choose a category that interests you from the drop down menu in the top right of the page.
Think about what niche each product is part of rather than focusing on the product it's self.
So branded airjacket envelopes, as seen in the screenshot above are most likely to be something businesses buy, right?
So it's part of the business supply niche.
Another thing I found was a professional baby heart monitor which would be something health and medical professionals might use.
This next trick isn't well known but can be a great way to find out about upcoming products...
Google News can be a great place to find upcoming product launch information which you can either build sites around or get niche ideas.
- Go to Google News
- Choose which country you'd like to search for in the drop down box below the search bar.
- You can choose a category from the left hand side like "technology" if you have a particular interest.
- You'll instantly be given top trending news stories which you can use to find topic ideas but the real magic lies in doing the next step.
- Type “release date” (be sure to use quotations) in the search box and then search.
- Alternatively you can also use "announced" in place of "release date"
- You'll find details of upcoming products, shows, events, sports events, films and more.
- This can help you uncover products of the future that are going to be a big hit.
This can uncover some juicy niche and product ideas.
It works especially well in the tech and gadget niche.
Remember to note down anything you find for later.
Then try this...
If you have a basic niche idea, say you know you want to enter into the weight loss market for men for example.
But don't know how to niche down further you can use Googles suggest feature.
Simply go to Google.com and type in “weight loss for men” without hitting enter.
And see what suggestion Google gives you.
Even if you have the most basic idea of a market or topic you're interested in type it in and see what you get.
Not every idea it sends back is perfect.
But anything that seems interesting to you note down now.
Here's a little known Google Search hack that can bring some interesting results...
Google Wildcard Search
Few regular search engine users know about Google wildcard feature.
Go to Google and type in your niche idea, i.e. “weight loss for men” and then '*' (i.e. “weight loss for men *”)
And Google will bring up a random selection of results starting with “weight loss for men” and then adding a keyword in the place of the *.
This can bring up results you would never think of and you could easily find a niche with this method.
These are potential sub-niches.
What did you find?
Note them down before you forget them.
And here's another free Google tool that's useful...
Google Keyword Planner
Using the Google Keyword Planner tool you can get niche ideas.
You simply have to enter a broad keyword / topic to begin with.
Here's how to do it:
- Go to https://adwords.google.com/KeywordPlanner
- Register a free account or log in.
- Choose 'search for new keywords using a phrase, website or category".
- Enter a topic or niche you're interested in to the search box.
- In the targeting box choose the country you are interested in targeting, I leave it as 'United States'.
- Click the blue "Get Ideas" button at the bottom.
- The tool will bring up keywords based around your search term.
- Some of these are potential niche ideas.
Some of these in the image below have potential...
For example, there is potential in:
- Survival Gear
- Bug Out Bags
- Doomsday Preppers
- Survival Backpacks
- Prepper Supplies
- Cool Survival Gear
And many more Google Keyword Tool showed me.
What did you find in your search?
Remember to write them down now.
And here's a tool that is like Google Keyword Tool on steroids...
Uber Suggest is a free tool that allows you to get 1000's of keyword ideas.
You give it a broad term like "weight loss" for example and it will give you an A to Z list of keywords people are actually searching for on Google.
Here's how to use it:
- Go to https://ubersuggest.io/
- Enter a topic or niche you're interested in.
- Choose your language and country in the drop down box.
- You can also search on web, Youtube, Google Shopping, Images or News with shopping being a good choice.
- Click "suggest" and then scroll down to see your list of suggestions.
Some of the potential niche ideas I found were:
- Weight Loss Clinics
- Weight Loss Diet Plan For Men
- Weight Loss Green Tea
- Weight Loss Groups
- Weight Loss Herbs
- Weight Loss Hypnotherapy
Did you find anything interesting?
Please write them down now for later.
And this is a very cool website that I really like for niche research...
43Things lists things people plan to do or want to change.
You can find lists of problems and issues people face.
Things they want to change or improve in their life.
Stuff they'd like to get better at.
These are all potential markets.
Here's the steps:
- Go to: https://43things.com/until_the_ny.php
- Scroll through the different ideas people have entered.
- All are potential niche ideas.
Here's some I found:
- Learn new languages.
- Solve more problems.
- Learn network marketing.
- Draw more.
- Design realistic images.
- Develop communication skills.
- Keep an eye on my consumption habits.
- Learn C+.
- Start teaching yoga.
- Spend less time on technology.
You could spend hours on the site getting ideas.
But for now just have a quick scroll through.
What did you find?
Write down any ideas into your notepad or Word document that jump out at you
Let's wrap this chapter up...
Got Some Niche Ideas? Now It's Time For The Good Part...
After that brainstorming and research you should have a good amount of niche ideas.
And a good grasp of the different tools and methods to find niches.
The trick now is to work out which ones will be profitable and perfect for you.
Don't worry all revealed in the next chapter...