Note: This post is part of a series dedicated to give you the step-by-step process to become financially independent with a website.
Last time I wrote a whole article about the mindset and skills needed to be financially independent with a website. If you didn’t read it please do so before reading this post.
So now that you know what it takes to create a website and make money out of it I want to cover the second step: niches
What’s a niche?
A portion of a market that you’ve identified as having some special characteristic and that’s worth marketing to. Entrepreneur
So a niche is a specific segment of the market that targets specific consumers with a specific product, service or topic.
See it as a slice of cake. Think of the market as a cake and a niche as a slice of that cake that you want to take.
“cake”: The fitness market
“slice of the cake”: Fitness for men between 20 and 35 years old
“cake”: The wedding market
“slice of the cake”: Wedding planner in Florida
A niche may be more or less specific.
See the difference:
General: Clothing for young men
Specific: Clothing for hipster between 20 and 30 years old
Why do you need a specific niche to create a website?
If you create a website you need to find a niche and you’ll probably need one very specific! Why? Because chances you will start alone as a blogger and have few resources.
I’m going to give you an example for you to understand:
Let’s say that you want to create a platform of E-commerce where you would sell a bunch of products (clothes, books, toys, DVD…). That would be something very general right? And you think that’s a good idea because:
A lot of products to sell = a lot of commissions = a lot of profit
Unfortunately you won’t be successful at all with that strategy for 2 reasons at least:
Your niche is too wide
Your niche is too wide so it can’t be the job of one man or woman. Think of listing thousands of products, writing descriptions of all of them, deal with comments, attract people to your site…You would kill yourself doing it!
You didn’t take into account competition
If you create a platform of E-commerce like the one describe before you’ll face giants like Amazon or E-bay for example.
How could you possibly compete against those companies? They have hundreds of employees, they have a strong supply chain, everybody knows them and trust them. Why would someone go into your platform and buy from you?
So being specific allows you to cover a part of the market alone and to make that part attractive to people. When you have a specific niche you have more chance of becoming successful with your website.
I think that it all boils down to energy. When you focus all your energy on a specific topic (niche) you will create a lot of content related to it. You will really go into details and will make it attractive to people. Don’t forget that people go on the Internet to find relevant and interesting content. If they come across your website that covers in details what they crave for you will be successful trust me!
See the difference (what follows is not a recommendation it’s only an example):
Mr.Wrong has recently decided to create a blog. He doesn’t care about niches he just want to talk about what he likes and make money doing it. So he starts feeding his blog with content. One day he writes a blog post about the last game he played, the next day he writes about gardening, the day after about the clothes he bought…After a few months he notices that the traffic on his website didn’t increase. He doesn’t understand why.
Mr.Right has recently decided to create a blog. He identified a very specific niche, which is “Yoga in mountain”. In his blog he talks about how you can do yoga in nature, the different position that are the best in such environment and so on. As he really focus on how people can benefit from the mountain when they do yoga he starts noticing some interesting traffic on his website. He knows that by targeting a specific area on the market (niche) and by feeding it with regular and quality content he would see some great results.
Do you see the difference? Mr.Wrong write general stuff about everything, which is not attractive to people while Mr.Right gives to his reader valuable information on something specific.
So now you know why being specific is important when it comes to find a niche, but how to find a good one?
How to find a good niche to make money?
#1 find a topic you like
You need to like the topic you will write for. You will also need to be knowledgeable about it and if you think that you are not, read the following article. You’ll see that you have more knowledge than you think!
#2 make a list of keywords that describes your niche.
#3 find inspiration and analyze the attractiveness of a niche using Google’s Keywords planner.
Basically you need to look for a topic that attracts a lot of people every month. You need also to take into account the competition. So if the topic you’ve chosen attract thousands and thousands of visitors but implies a fierce competition don’t go for it. Competition is good but make sure you can handle it.
To learn how to do it I recommend you the excellent video of Andrew Youderian on the following link .
So I think you got it now. Finding a niche is really important when building successful websites. If you do it correctly you have solid basis to build a website that can make a lot of money!