What are Affiliate Marketing Niches?
Affiliate marketing niche imply that you promote affiliate products through narrower population segments. For example, you can determine these segments by budget, demographics, geographics, or customer interests and preferences.
One of the pieces that affiliate marketers seem to be grappling with the most is choosing a niche. The internet is an overcrowded place full of failed marketers targeting “everyone” this is so because there are a ton of products available for promotion, and a billion customers out there.
This article will pause a few questions to us, we shall use these questions to guide us to select a profitable niche/products that will earn us enough passive income. These questions are:
- What are your hobbies (Passion)
- How familiar are you with the product you intend to promote
- Who is your target audience
- What competition are you up to in marketing the product of your choice
- What commission will you earn with the product of choice
Now that we have identified the questions let’s dive in and answer them.
Finding a profitable affiliate marketing niche is one of the most daunting steps in an affiliate marketer’s journey. But it’s a step that can’t be overlooked or rushed through. Finding the right niche is the key to tapping into a strong buyer’s market that’s not saturated with competition.)
STEP#1 Find Inspiration in Your Hobbies/Passion
The more you enjoy something, the more fun it is to write about.
You’re most likely to enjoy building an affiliate site in a niche you already enjoy, which makes your hobbies and passion a good place to start. To quote a well-known phrase, “pick an occupation you enjoy and it will never feel like work”.
Affiliate marketing takes a lot of dedication if you want the results to be truly worthwhile. That’s why the element of excitement is so significant.
But when I say “hobby” or “passion,” I imply a few things:
- What you’re interested in
- What you are good at
- What you’re not wasting your time on
- Where are your experience and expertise?
For example, if you love cooking you might consider building an affiliate blog promoting cookware. Makes all the sense in the world.
Let’s go over a few simple steps to get you started:
- Make a list of your hobbies. Think long and hard to answer this question: Which would you most enjoy writing about?
- Next up, look for affiliate programs for your chosen hobbies. Which has the most earning potential?
- Once you have a final list of hobbies with potential affiliate programs, do market research to see whether there is enough interest to warrant the effort.
And bingo there you have it, now unto the next step
STEP#2 Competition within that niche
Imagine promoting a product that is used by 10,000 people in a world of 7billion people, what are the chances of you making a sale in a month if not in a year? Equally, imagine promoting a product that 2billion people are promoting online what are your chances of standing out? The KEY point here is to STRIKE A BALANCE.
While finding a niche that you’re really interested in is vital, profitability is still a key factor – that is, if you really want to make money!
Determining the viability of an affiliate marketing niche requires determining two things:
Competition and desire for it.
How saturated is the niche you’re thinking about?
Are there a lot of other affiliates competing for the same audience?
If you choose a wide niche with a lot of competition, it can be very difficult to gain traction.
On the other hand, if you pick a market with very little competition, it doesn’t necessarily lead to success if the demand isn’t hot.
So how are you going to find this out?
Are people looking for niche-related topics?
Is there really an audience for what you want to promote?
You can find out by searching for question-and-answer sites like Quora to see if people are looking for information about your future niche. You may also use the Google Keyword Planner to investigate such topics as the total number of monthly searches, or competition level (high to low), and the recommended bid (cost per click).
You can take it from there:
How much traffic a certain keyword produces?
How difficult would it be to actually rank for that keyword in the search results?
The value of the keyword in general.
Suppose you have entered an affiliate marketing network like ClickBank. In that case, you can even look at the average sale prices of particular niche goods to see how well they are selling.
All this gives you enough information to decide whether or not a given niche is lucrative enough to be worth your time!
Roughly speaking, low-to-medium competition and high demand (traffic) are perfect.
STEP#3 Is it profitable Niche
You don’t want to invest time and resources in a niche where there’s no money.
Thankfully, it’s pretty easy to evaluate the profitability of a niche and determine whether you can build a sustainable business in it or not.
Determining the profitability of an affiliate marketing niche involves assessing two things:
Competition and demand.
How saturated is the niche you’re considering? Are there a lot of other affiliates vying for the same audience? If you choose a broad niche with a lot of competition, it can be very difficult to gain traction.
On the other hand, if you choose a niche with very little competition, it doesn’t necessarily lead to success if there isn’t high demand as well.
So, how do you figure this out? Well, are people searching for topics related to the niche? Is there actually an audience for what you want to promote?
You can find out by perusing question-and-answer sites like Quora to see if people are looking for information related to your prospective niche. You can also use Google Keyword Planner to research things like the average number of monthly searches, competition level (high to low), and suggested bid (cost per click).
Conclusion
If you’re sick of playing “affiliate pinball”, you need to take a step back and re-assess your strategy for building an online business.
The strategy that has worked well for many people is to choose a niche audience to serve, then dive in and understand that audience’s problems deeply. By doing so, a new world of profitable opportunities will open up to you!
Consider reading the below article to help you make better choices when it comes to affiliate marketing
