How To Evaluate And Test Your Niche Without Wasting Time And Money

This post is part 7 of The Ultimate Guide To Finding Your Profitable Niche.

Wooooah, easy tiger...

Just because you've found what seems like a profitable niche idea, doesn't mean it will be suitable for you.

Because here's the thing:

Not everyone is a good fit for every niche.

And this is especially true if you're picking a 'money' niche over a passion / interest niche, where you don't know much about the topic.

Some niches, no matter how profitable they are for others, you'll just never crack as you never quite figure out what makes the audience members 'tick' (i.e. buy).

Or you just won't be able to do anything to stand out from all the others in your niche.

And if you're not doing anything at all different why would anyone pay attention, right?

Because think about it...

Even though you absolutely do not have to reinvent the wheel or create anything innovative.

You do have to do something a little bit different from everyone else or at least have a unique twist to get noticed.

But don't worry:

This isn't as difficult as it sounds when you follow my process.

And there's a way to test your niche ideas, quickly and cheaply, before committing long term.

So that you don't waste a lot of time and money on a niche that isn't profitable.

Or that you personally can't make money from.

So let's look at how you can evaluate and test your ideas first...

 

How To Figure Out Your Unique Twist

As I said above you do not have to reinvent the wheel.

You are not trying to come up with a niche or business model that is innovative or unique.

Nor create something no one has ever seen before.

Leave that to the likes of Steve Jobs.

What you need to do is:

Find a unique angle within the niche that no one else is focusing on or doing well.

Or to be able to do things differently or better than the current competition, which isn't as hard as it sounds as you'll find out in a second.

 

An example of some early NicheHacks content that anyone could create better than

 

Follow this step by step process to work out your unique twist:

  • Analyze the existing websites and products in your niche and write down what you like and dislike about them. This will give you ideas for things you can do differently.
  • Look at the type of content the other websites are publishing, is it written content, videos, infographics, webinars, image based, long, short, lacking depth? Look for anything that isn't being covered or done well.
  • Check what products they are selling and promoting, do you see anything they aren't selling but could be a good fit for your audience? Many marketers overlook seemingly obvious products.
  • Do your competition seem like good marketers or are they more like hobby bloggers doing it for fun? Strong marketing skills can easily beat these types of people.
  • Are they making obvious marketing mistakes like not building an email list, disabling comments on posts, publishing badly formatted content filled with errors, not optimizing content for SEO and so on? This could be where you outshine them.

Simply go through the process and take notes of everything you find.

You may discover a certain type of audience member not being well catered to.

Or common mistakes everyone else in the niche is making that you won't.

There may be glaringly obvious products you could be selling to them that others aren't.

You may find that the content in your niche on the whole is poor, lacking any depth, or all video content but little written for example meaning there's room for something different.

Or it could simply be the competition are poor marketers and someone like yourself who's learning about marketing could easily out perform them.

I cover some of these areas in more detail below...

 

P.S. If you'd like to download 1,781 profitable niches for free then click the image below...

1781 niches [new]

 

Create Better Content

It could be as simple as being able to offer better or fresher content.

If your competitors are only doing short 500 word blog posts and you see a need for more in-depth posts you can start creating longer posts with more 'meat'.

You could create:

  • Ultimate Guides like this one.
  • Write longer posts with more detail.
  • Create more image based, social media friendly, content.
  • Do case studies.
  • Create Podcasts
  • Do video marketing and webinars.
  • Create infographics.
  • Offer free guides, tools, software and more than others are charging for.

 

In-depth ultimate guides, like this one, can really help you stand out

 

If your competitors are not willing to do it then you should be.

This will give you a fresh twist on the niche.

Or you could take a unique approach to the niche as I cover below...

 

Take A Unique Approach To The Niche

Another trick is  attacking the niche at a unique angle that no one else is doing

i.e. If looking to offer weight loss advice to men over 50, you niche down and offer advice on men over 50 who have heart problems for example.

There are always sub-niches within niches.

Always a group of people looking for specialized information targeted at them.

The best thing to do is create your ideal customer or visitor and write content ONLY for them.

Don't try and create content for everyone and anyone.

It becomes vague and puts people off because there's so much content they don't want to see mixed in with the stuff they do.

To find sub-niches you can use this guide.

Or, there's always this...

 

Be A Better Marketer

You can compete by simply being a better marketer than your competitors.

And look don't worry:

You might be new to online marketing but the fact you're here reading and learning puts you way ahead of many hobby bloggers who just blog for fun and don't learn about it.

If you are able to provide good quality content AND market more effectively you can't help but succeed.

Being a better marketer includes being able to create better content, optimize for SEO, drive traffic to your site and convert that traffic into sales.

Good news: we cover ALL of that on NicheHacks.

 

NicheHacks has you covered on all topics on online marketing

 

And on the subject of traffic you better read this next section...

 

Can You Get Traffic?

One thing you need to figure out way before you start on a project is whether you can get traffic.

There are endless ways to get traffic to sites as I'm sure you know including:

  • SEO
  • Paid Traffic
  • Social Media
  • Forum Marketing,
  • Content Marketing
  • Blog commenting.
  • And much more.

You have to work out what your method will be and whether it's achievable.

 

Our ultimate guide to traffic covers ALL traffic strategies you'll ever need

 

A few ways to do this:

  • Check the websites in your niche and see if they accept guest posts and allow blog comments with links.
  • Look to see if they have social media pages that you can join in the discussion with.
  • Check if there are Facebook Groups in your niche you can share your content to.
  • Do the forums in your niche allow signatures with links or sharing of content.
  • Look to see if the top 10 results in Google for your niche ideas and keywords look like high quality content or can you create something better?

As long as you can see some opportunities here it's a good sign.

We cover 100s of ways to get traffic on the blog that you can evaluate.

 

Paid Advertising For Traffic

If you want to focus on paid advertising there are many options including:

  • Facebook Ads
  • Google Adwords
  • Stumbleupon paid
  • Bing & Yahoo Ad Centre
  • Banner Ads
  • SoloAds (email adverts to other websites email lists)
  • Pinterest Ads
  • Reddit Ads
  • Outbrain
  • Tabaloo

Which of these options makes most sense will depend on your niche.

 

An Example of Google Adwords Ads for Email Software

 

For now you simply want to consider where your target audience hang out to determine if there are viable paid traffic sources.

For example:

  • Pinterest has a largely female, aged 35+, audience group.
  • Reddit is a more tech savvy under 35 crowd.
  • Facebook has pretty much everyone.
  • Bing users are more likely to be older and with money to spend.

In this day and age there's a paid traffic source for everyone and every niche.

Some things you can look at....

  • Whether you can afford to compete with other PPC marketers by checking out the cost of Ads on Facebook and Google Adwords.
  • Whether sites in your niche or with your demographic allow banner ads.
  • Whether sites in your niche have email lists and allow solo ads.

You've now done some basic evaluation of your niche and have a better idea if it's something you can compete in.

But you're not done yet.

Let's be 100% absolutely certain that you can make money from it.

By testing it.

Learn how to do that below...

 

Testing Your Niche

If you've determined that your niche idea is:

  • In high demand
  • An easy to reach target audience
  • Has products to sell
  • And that you can personally compete in

Then you're almost good to go.

But before you jump in and spend months working on it you should run a small test first just to be 100% sure this is a profitable niche for you.

Here's how to do that easily, quickly and cheaply...

 

Testing A Blog / Niche / Affiliate Site

If you wanted to start a blog then test first on a small scale.

The process:

  • And 1 article that focuses on making money by reviewing or promoting a high in demand product (as you'll have found from earlier steps in this guide).
  • Write a 7 to 14 day email series that welcomes your visitors, gives them some exclusive email tips, sends them back to your content and recommends some affiliate products.
  • Add an email capture form to your website and create a 7 day email series using Aweber.
  • Drive traffic to your website and test whether you can get email sign ups and sales.

 

Aweber offers a $1 free trial which is useful for testing first

 

Further reading on this topic:

 

If you'd prefer to test on an even smaller and quicker scale here's how...

 

Testing An Email List

If you simply wanted to build an email list around your niche first then:

  • Create a 7 to 14 day follow up email series in Aweber (they have a $1 trial) or MailChimp (free up to 3,000 subscribers) giving advice and recommending products which solve the niche audiences problems.
  • Drive traffic to your optin page and measure the opt in conversion rate and sales rate.

 

ClickFunnels has a free trial for 14 days you can use to create an optinpage

 

Further reading:

If you plan to create a digital product use this process...

 

Testing A Digital Product

Before you create a product you'll want to test that people will actually buy it.

How to do this:

  • Find a similar product in your niche to the one you intend to create (Clickbank or JVZOO are good places to look).
  • Use the sales page for that product as a guide to quickly write your own sales page, it doesn't have to be perfect.
  • Add your sales page to your website complete with a 'fake' buy button (i.e. that is an image of a buy button that doesn't actually lead to a payment processor) but instead to a page that says "this product has sold out".
  • Set up a goal in Google Analytics that anyone who lands on the "sold out" page counts as a 'sale' even though nothing was bought or sold, as anyone who clicked the buy button was obviously looking to buy.
  • Drive targeted traffic to your product page and measure your conversion rate into 'sales'. If you can make 'fake sales' then you know there's a demand for the product.

 

People buy digital products to become better versions of themselves.

 

Read more on this process here:

 

 

GO TO CHAPTER 8 OF THE ULTIMATE GUIDE TO FINDING A NICHE MARKET >>>

 

P.S. If you'd like to download 1,781 profitable niches for free then click the image below...

1781 niches [new]