5 Steps To Find A Niche For Profit

 

In the first two articles of this series on micro niches, I covered what exactly a micro niche is, and why focusing on a micro niche is the perfect way for newbie affiliates and vendors to get started making money online. 

In this third installment of the series, I’ll describe the five steps you need to take to find a micro niche that fits your passion AND can make you a pile of money.

What I’ll describe is the exact process I’ve used to crack open micro niches across different markets and create information products that have generated hundreds of thousands of dollars in revenue.

(And by the way, I’ll be revealing one of those micro niches in the next article of this series.)

Let’s jump into the pile!

Step #1: Figure Out Your Interests

Before you can dive deep into a micro niche, you have to first identify a niche that suits you – one that will put Kraft Dinner on the table AND sustain your interest.

You can figure out which micro niche suits you by first writing down your list of interests or passions.

Why is this important? Because when the going gets tough (and it WILL get tough at some point, believe me), if you have no interest in the niche – either the niche topic, or some aspect of running an online business – you’ll be much more likely to give up.

Here are some questions to ask yourself to understand what your interests are:

1. What hobbies do you eagerly anticipate doing on the weekends?
2. What associations or clubs do you belong to?
3. What types of magazines do you like?
4. What things do my friends and family say I’m interested in?
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Step #2: Brainstorm a Handful of Niches Based on Your Interests

Once you’ve got a good handle on what interests you, the next step is to brainstorm a handful of niches. What you’re looking for is a niche audience to serve.

There are different kinds of niche audiences. One is a demographic niche, which is a group of people who share a similar age, sex, job, income, etc.

Another is a psychographic niche. When we talk about psychographics, we talk about the initials “AIO” – people’s Activities, Interests, and Opinions.

Then there’s a needs-based niche, which is a group of people who share a similar need (such as people who need back pain treatment, or who need help repairing their credit score, or who need help learning how to make money online).

The easiest niche audience to find is one based on needs.

Step #3: Fill Your “Problems Bucket”

Every micro niche is going to have a range of problems that need to be solved. Once you’ve chosen a niche to serve, your job is to make a list of those problems – because not all of the problems will have the same profit potential (which I cover in the next step).

As an example, you might think that all people who need treatment for back pain have the same problems.

Think again!

Here are just a few problems I found when I typed in the keyword “back pain” in the Google Keyword Planner:

• lower back pain
• back pain during pregnancy
• chronic back pain

Those are all distinct problems that fall into the category of “back pain”. But not all problems have good profit potential…

Step #4: Find the Most Profitable Problems (the “NEEEDS Test”)

I use what I call the “NEEEDS Test” to identify the problems with the highest profit potential:

N = Needs are based on a strong emotional or physical desire for a solution?

E = Enough people searching online for a solution?

E = Evergreen niche?

E = Easily available solutions are not online?

D = Desperate macro niche (Health, Wealth, or Love)?

S = Solutions make money or save money?

The most important indicators in the NEEEDS test are the first four (the last two I consider to be “bonus” indicators and aren’t necessary).

Step #5: Dive Deep to Understand Profitable Problems Thoroughly

Once you’ve used the NEEEDS Test to weed out the unprofitable problems, the final step is to do deep-dive research on your chosen problems to deeply understand what’s behind them.

What are you looking for in this step, exactly? A couple of things:

• The solutions people are looking for to these problems
• The “hot button” words people are using when describing these problems

Discovering the solutions people are looking for will allow you to either find existing Clickbank products that match these solutions, or (a better idea) to create those products yourself.

For example: if you discover that a lot of women are looking for information on back pain exercises they can do at home during pregnancy, you could create an ebook (or video series) on those types of exercises.

Discovering the “hot button” words people are using will give you the keywords that you need to use on your website, Pitch Pages, and email copy – words that will show your audience that you understand where they’re coming from.

Wrapping Up

I’ve used the exact process outlined in this article to find micro niches and create information products that have generated hundreds of thousands of dollars in revenue.

It’s a fool-proof process – follow it and you’ll know the needs, pain points, desires, and aspirations of your target audience better than they know themselves. You’ll have both thankful customers…and a healthier bank account!

In the next installment of this series on micro niches, I’ll describe how I found a VERY unusual micro niche five years ago, created an info product for it, and still profit on autopilot from it today. 

(Hint: “Old MacDonald had a…”)

http://www.clickbank.com/micro-niches-5-steps-to-find-a-niche-for-profit-and-passion-part-3/
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