Freelance
Writers' Series
Career & Business
Development Help
Niche Marketing:
How to Choose a Profitable Niche
In Part #2, we talked about content development, specifically, how to write SEO articles. In this part, Part #3, we’re going to move on to developing an online presence. As I said in the introductory article of this series, developing an online presence doesn’t necessarily mean a blog or a website. Although, it usually does. So, that’s what we’re going to discuss. Which Do You Need to Make
Money Online – a Blog, a Website or Both? Here, we’re going to discuss
what you need to make whatever online presence you choose successful. This was a relief, because it was something I’d always believed in. The key to profiting from a niche however, is to pick the right niche, which is where many online entrepreneur go wrong. 3 Steps to Choosing a Profitable Online Niche Some of this is going to run contrary to what you may have been taught about business. But remember, the goal here is to make money online (real money). I like SEOmoz because it gives you a look at popular searches across a myriad of sites, eg, Google, Technorati (blog tracking site), Ebay Pulse, etc. Once you gauge what’s popular, you can start to build a niche around it. b) Ignore your “unprofitable” interests: This is very, very important. Many business experts will tell you to go with your passion. And, to a certain degree, I agree with this. If you have a passion and it turns out that its in a niche that you can make money from – then great. No problem. BUT, if you have a niche and
discover that it’s highly unlikely you’ll be able to make money from it with
reasonable hard work, then by all means – leave it as a hobby. Making money
online is hard enough without choosing an unprofitable niche. My response: “Popular is different from profitable.” My blog and its accompanying website are labors of love. They don’t bring in nearly the income they should considering the time I invest in them. That was one of the reasons I started writing ebooks and producing freelance writing seminars. When I say that this niche is not as profitable – I don’t mean from the finding work standpoint. Freelance writing is a relatively simple way to make good money. When I’m referring to profitability, I’m referring to passive streams of income, eg, affiliate marketing, making money from ads, etc. Why this niche is not as profitable as it should be – I don’t know for sure. My guesses are that it’s oversaturated, it’s a field where everyone who can write considers themselves an expert and finally, it’s a field where a lot of information is given away freely. If I had it to do over
again, I wouldn’t choose this niche. But, I’m one of the lucky ones in that I
have built up someone of a reputation as an expert in this field, so I don’t
struggle like someone who’s just starting out might. Some markets you might want to look at are dieting, game cheats, freebies, recipes, etc. Still saturated, but not as much as the others. For more on assessing the competition, click here to view this thread on DigitalPoint.com’s forum. NOTE on entering a saturated niche: Just because a niche is saturated, don’t let that stop you from entering it IF you have a definitive, workable marketing plan. The reason sites dealing with making money online, web hosting and gambling are so popular is because there will always be an audience for these. You only need to capture a tiny slice of the online pie to make it profitable for you – you don’t need to be an industry leader. I often think of Ellen DeGeneres’ talk show when I think of this. Could the market have been more crowded when she started her talk show in 2003? I remember thinking, “Great, just what TV needs, another talk show by a comedienne.” Remember Rosanne and Whoopi’s stab at it. BUT, Ellen has managed to bring something different to the table – old format, new twist. You can do this too. So, do your research, stick to ideas that are profitable and assess the competition. After doing all of this,
then it’s time to decide how you want to get busy creating that online presence,
which we’ll discuss tomorrow.
Sincerely,
Intro Post:
New Series - Freelance Writer's Technology Month
Previous Issue:
Sue Fagalde Lick,
author of Freelancing
for Newspapers.
Whether you are an experienced or inexperienced freelance writer, this is one
market that eagerly accepts freelancers, as Sue outlines in her book. Copyright Notice: May be reprinted with the following, in full: Yuwanda Black is the publisher of InkwellEditorial.com: THE business portal for and about the editorial and creative industries. Freelance success stories, e-courses, advice on the business of freelancing, and more! Get the e-report, How to Make $100/Day as a Freelance Writer -- free! Log on to http://www.freelancewritingwebsite.com/ for details. ************************************************** Originally posted on 11/13/07 Did you find this information helpful? We strive to bring concise, income-boosting information and opportunities to freelancers to help them maintain self-supporting careers. If you found this info helpful, consider donating. Any amount is appreciated.
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