According to Statista; the number of bloggers in the U.S. alone is set to reach 31.7 million in 2020 that makes the blogging industry pretty saturated. This means it will be hard to find a good niche market in present times and that is what makes people wonder how to find a profitable niche market? Are you wondering the same? Well, then this guide to finding niche market ideas is going to provide you with TONS of value.
This guide will discuss the four crucial steps on how to find a niche market for your site and can give you a precise idea of which market you want to enter. I'll talk about each step in detail to help you understand every nook of finding a profitable niche market and increasing your income in 2019 and beyond. So with that said, let’s get started:
The best way to finding a niche market that you can easily work on is by looking at your passions, interests, skills, and hobbies first. It doesn’t matter if it is profitable or not. Just write them down, and we will validate all the niche ideas at the end of this guide. Now there are two reasons why you should first find a niche in your interests:
Now that you have a list of niches related to your interests, you need to find some niches by looking at things in your surroundings and also at the problems you face in daily life. Put on your marketing hat, carry a note pad and a pen and note things you do in the whole day such as:
Note down all of the ideas you get from these things in a separate list and then ask the following questions to further refine this list:
Even if some of these answers are in ‘yes’ then you can take those ideas and write them down in a list of potential niche ideas along with the ones that you are interested in.
This is another way to find some popular niche markets. Remember, you need to do whatever you can to find a profitable niche market because that will ultimately decide how profitable you are going to be. So with that said, the third step is to find some more niches by observing trends on popular websites. Here’s how you can use popular websites to find hot niche markets that can be very profitable:
Now that you have created a list of niche ideas from your interests, from your surroundings and by examining the popular trends over the internet, it is now time to validate those ideas and make a new list of the ones that have some traction to them.
Check on Google Trends for Popularity Graph:
The first thing that you need to do is to look at the popularity of every niche. Pick the first niche, type it in Google Trend’s search box and then see its popularity graph.
If the graph is in an upward trend and has a good popularity for at least one year, then it means it is not a seasonal thing, and you will then move towards the next step with it. Here’s an example of a good graph:
See Search Volume Through Keyword Research:
The second step is to search the niche in Google’s Keywords finder to see the search volume for the niche topic and the keywords related to it.
It should have at least 1000 searches per month for low competition keywords and 10,000 searches per month for high competition keywords.
If your niche topic and/or its surrounding keywords have a good amount of searches per month, then move on to the third step. See an example below:
Validate Online Activity on Other Blogs:
Now you need to see what type of blogs are already established in your niche market and how much online activity is there. Keep in mind that there should not be too many big established brands in your niche market like Neil Patel and Backlinko in the SEO niche market. One or two big fish are acceptable but having too many may require a lot of effort to be able to reach the top.
Secondly, open all of the websites on the first page and second page and see the activity there. If the blogs are updated on a daily basis and if there are a lot of comments from people on each blog then that means you have selected a niche market with a very active audience which is a good thing.
See if there are Ads on Google:
Now, this is an optional thing so even if your niche topics don’t fit on these criteria, don’t fret! So what you can do here is search the niche topic and its related keywords on Google and Bing to see if you can find any ads.
If there are ads for products related to your niche, then it means people are making money which is why they are paying for advertisements. Here’s how the ads would look like:
Check Amazon Products to Assess Demand:
Amazon sells over 12 million products, where books, media, wine, and services are not even included. (Source: NChannel). That is why Amazon is without a doubt a behemoth in the e-commerce industry which is a good thing for someone finding a niche market.
So the way you can use Amazon to validate the demand of your niche idea is by searching it on Amazon. If you see lots of listings with thousands of reviews, then it means that your niche idea has a huge demand. This will also help you get some perspective on whether you should go for the niche idea or not. Here’s how it should look:
So these are all the steps that you need to take to validate your niche ideas and make a list of those that fall under the criteria given above.
Once you have created a new list of all the validated niches, you now need to pick the one that has the highest demand and lowest competition, and if you also have an interest in that niche market then that’s is a big PLUS.
Once you have found the niche market, you would want to start a blog, and for that, you will need to set up a website. Furthermore, you would need to understand how to find blog ideas and how you can write a killer blog post on your selected topic. So for that, you might find these guides very useful:
So that is it for this guide, make sure first to gather tons of ideas and not worry about whether there is a demand for them because we will validate that demand in the last step. Also, try to go for a niche market that you would be interested in so that you don’t abandon your website after some time.