As per the title, I was just wondering, before you sink some time/money into your website, how everyone identifies worthwhile niches. Do you have any tips or tricks?
3 niches only: make money, get laid, or looking good
Test things out. Find a product, register a domain and use Yahoo Search Marketing/ Bing Search Marketing with direct linking for the product name. Find out if the product sells well? Is it selling consistently?
Could you elaborate on Bing/yahoo search marketing? I find it hard to find information......
If yes, test out two-three other products in the same niche and target the product names only.
So if all the products in the niche are selling effectively, create follow up sequence, landing page and drive traffic to landing page and build a list.
Promote affiliate offers as you go and when you know the niche's really killing, create your own product.
If the niche is somehting where you don't want to create a product, SEO the converting keywords and keep a passive income stream or flip the busiiness.
This is for information marketing niche. Or just find out what's the advertiser competition in paid search for the niche.
In some niches, there might be little or no competition because they are still not uncovered yet.
I recommend Definitive Guide To Google Adwords 2011 Edition by Perry Marshall. Yahoo/Bing's the same as Adwords. It's just easier and the interface a little more complicated.
If you can crack Adwords successfully, you can do something like that with Bing/Yahoo. Only thing is it'll take time to see results.
Yahoo and Bing have less no. of searches compared to Google. Therefore, tests will take longer.
Always remember this rule: Pure interest does not equate to willingness to buy.
"Millions of people search for information about an actor/movie but not everyone are willing to buy a product related to that."
That's why testing with other people's products is VERY IMPORTANT before you get in the game yourself.
Health
Wealth
Love
are the three big niches. You can expand from that. But don't always rely on that. Frank Kern made thousands of dollars selling Parrot Speaking Guide and Dog Training Guide (it falls in the love category. but not close to the normal love we all can think of naturally).
Who knows? There might be a pet grooming niche with lots of potential to make money. I know it's there in 902010. But the rest of the world - soon enough
+2.3 niches only: make money, get laid, or looking good