Affiliate marketing has been around since the 1990s. In recent years, it has grown tremendously in both popularity and size. If you're trying to make a name for yourself online, picking a niche and then going after that niche with the same gusto might be what you need to do.
So how does one go about finding a profitable niche to target? The following is an example of how to find a profitable niche by 5 easy steps.
The 5 Pillar Strategy
An affiliate marketing niche is a business that has proven to be very profitable in the past and remains popular. Finding such a niche can be difficult, but by following these five steps you'll have a better chance of finding one.
- Define your niche
- Find a major pain point in that area
- Research related topics online
- Search for who is solving the problem
- Choose your product or service to offer.
Step 1: Define your niche
If you're trying to find a niche, it's best to start by defining your niche.
What do you want your niche to be about?
This step is important because you'll have different ideas for niches, but if you don't know what your niche will be, you won't know which one(s) to focus on.
You could decide that your niche is fitness and beauty products, or it might be food. The key thing here is that it has to be something that's related to what you're already in you don't want to pick a totally unrelated niche and spend months writing content for it.
Evaluate the competition
Once you have a definition of what your niche is going to be about, go and see who else is targeting this area of interest. You'll want to see who the top players are in order figure out how far ahead of them you need to be so that they can't compete with you and make money off of their own hard work.
Evaluating these players will give you an idea of where exactly the market stands right now so that when launch time comes around, they're not too far ahead of you and ruining your chance at success!
Step 2: Find a major pain point in that area
Your next step is to find a major pain point in that area. This could be any number of things, but it typically comes down to the following:
- The type of people who are affected by this issue
- The amount of attention the issue has received
- The amount of competition you'll face if you try to get into this market
- How much money you can make if you do succeed in entering this market
These things will help determine your niche category so that you know exactly what kind of products or services you want to offer.
Step 3: Research related topics online
You'll need to do some research on the topics that are related to your niche. The Internet is a great place to find information, so use it!
The following is an example of how to researching related topics in 2 easy steps.
Find a popular topic
After you've decided what your niche will be, the next step will be finding a popular topic within your niche. You'll want it to be one that has enough social media attention for you to build off of, but not too much. That's because if there is too much competition then your chances of having success with affiliate marketing are slim and none. This step also works well if you're looking for a new hobby or interest because it keeps things interesting.
Find related topics
After you've found a popular topic within your niche, take note of any related topics that have more social media attention than the original one. For example, if you're in the real estate industry and want to start an affiliate marketing campaign with Amazon FBA products, you'll want to find other similar categories within Amazon FBA such as "Fashion" and "beauty". Once again, there should be enough social media attention for you to be able to build up your affiliate website, but not so much that it's hard for you to get in.
Step 4: Search for who is solving the problem
The fourth step is to solve the problem. In this example, we'll focus on finding a niche that helps people pay off debt. This will help us narrow down our niche and make it easier for us to find an affiliate program to join.
Search through Google and Bing to see what terms are used in the search results when a query like "pay off debt" or "debt relief."
Searching for these terms will give you ideas about who might be solving those problems. On the other hand, if you want to find out which companies are trying to solve those problems (for instance, by offering debt relief programs), you can look for businesses selling similar services and products on Amazon. The same goes for Google Shopping where you can search for companies selling debt relief programs or compare their prices with other competitors.
Step 5: Choose your product or service to offer
This is the final step, so make sure you've read the other steps and that you're ready to take on this one. But when you're finished, you'll have a clear picture of what your niche will be.
It's important to choose a good product or service that has strong demand. The more demand there is for a product or service, the more likely it will be profitable to sell it online.
You need to find a product or service that will be profitable and has the potential to grow in popularity. Picking just any product or service might not be successful because not everyone can do it well and make money from it.
In order to find something that fits these requirements, research similar products on Amazon or Google Shopping. You should also look through social media and search for popular hashtags like #healthyliving #healthyrecipes #eatingwell etc., etc., etc..
Now you know what type of niche you'll offer and what your product or service is going to be, but where are people going to buy this thing? This is where we go back up one level before deciding what your niche would be: deciding on your market space.
An Example for this Strategy
Major pain point: Traffic and having to commute long distances.
Related Topics: Technology, etc.
Step 1: Search for popular topics related to 'automobiles' and 'traffic' using social media and Google.
Step 2: Look for other related topics that have more social media attention than the original one. For example, if you want to start an affiliate marketing campaign with Amazon FBA products, you'll also want to find other categories within Amazon FBA such as "Automobiles" and "Tools"
Step 3: Use Google to find out who is solving the problem.
Search on Google for terms that are related to your online search topic, such as "how to reduce traffic on the highway," or "traffic blog."
You can also use tools like Moz Keyword Explorer or Google Keyword Planner to find keywords and phrases with a high search volume.
Using these tools will help you get an idea of who is likely to be searching for your topic (and what they're looking for).
Step 4: Search online and see what companies are trying to solve the problem.
Use Google Shopping or Amazon.com to get an idea of the products and services currently used to solve the problem.
By looking through product reviews, you can get a better idea of what features people want in the product or service they're buying. For example, if people keep saying that their GPS isn't accurate enough, then finding a high-quality GPS device could be a feasible solution for your affiliate marketing campaign.
Step 5: Choose your product or service to offer.
After you've done the research, it will be easy to see which products are already being sold online and what type of demand there is for each one. This way you can choose an appropriate product or service to sell as an affiliate marketer.
The keywords you used for your research will be useful when creating the content of your website.
Your niche may also have sub-niches, so choose one major sub-niche to focus on. For example, if your parent niche is "Automobiles", then one of your sub-niches could be "Motorcycles".
You may also choose to create a product or service of your own to sell online. This can be done by doing more research on what other people want, then creating it yourself. Once the product is finished and you've tested it, start selling it through affiliate marketing!
By following these steps, you will have a better chance of making money from affiliate marketing. The key is to be as specific as possible so your targeting is as sharp as a tack and people can find your website easily. If you need help, feel free to comment in the section below.
I hope I was able help! Good luck on your affiliate marketing journey!