Regardless of the type of online business you are trying to develop, it is a good idea to focus on a specific niche.
But choosing a profitable niche online can sometimes be like trying to find a needle in a haystack. The Internet is a busy place and online business owners need to know that they are entering a worthwhile market before investing time, money, and resources in creating a new Internet-based business.
Here are 7 tips on how to find a profitable niche online.
1. Google Suggestions
When you type a word into Google, before pressing Enter, a list of possible phrases that you may be searching for is displayed. This autocomplete feature is based on popular search requests from other users. Because an audience is searching for that article, it is likely to be a profitable online niche.
2. Amazon
When looking for a profitable niche online business, Amazon has already done much of the work for you. If a niche market is popular at the world’s largest retailer, that will quickly tell you whether or not you have a viable market.
3. Magazines and books
You can also use the offline world to search for a profitable niche online. Magazine and book publishers do a lot of research before spending money on marketing and printing, so when you see a book or magazine for sale, it is most likely based on a higher niche market.
4. FAQFox.com
FAQFox.com scans online forums and extracts keywords and phrases based on a word you enter. It will list titles, links, and questions that are relevant to your keyword. When you see a lot of people talking about the same problem, product or service, it shows that there is a profitable niche online.
5. Udemy.com
This website shows the markets where people buy courses and education. You can use their information database to see a list of the most popular courses. This is a great way to find out why people are paying money.
6. Ask Technorati
You can search for your niche topic on this website. If there are a good amount of results, it is probably a profitable online niche.
7. The competition
If there are many companies in a market that is very competitive, it will be a challenge for you to be successful. However, if there is no competition it shows that it is not a viable market. Enter the name of your niche in Google. If there are search-related ads, it’s a good sign. That means companies are profitable enough to spend money on advertising in their market. Now you must focus your efforts on a well-defined segment of that market.
