Most Profitable Niche, what is a most profitable niche at all?
Well, diving deep into the ocean of content ideas, you will find millions of content categories.
These content categories are termed as a Niche. In easier words, Niche is the topic you are planning to write about, the field you are planning to start your business.
It has been categorized by marketers in millions. Starting from the broader category and diving deep into the same, we will find micro, nano even pico niche.
Now, talking about the profitability of a niche, it is dependent on various things like, search volume, online purchase intent and competency in the market.
Not all the niches are the most profitable niche. It is your task to find the most profitable and the most relevant niche for you.
What are Profitable and Relevant Niches?
Profitable niche is the niche which provide most outcome values in the form of money, authority and views.
A profitable niche is not compulsorily needed to be relevant to you. It can be totally different to you and your mindset.
So, it is recommended that never run for a profitable niche. You will eventually ran of ideas and fail.
A relevant niche is the niche which is most relative to your knowledge and your mindset. It can be profitable and non profitable.
a relevant niche is not compulsorily needed to be profitable.
So, it is not recommended to choose a relevant niche only. Go for the most profitable niche that is relevant to you.
Why the Most Profitable Niche?
This is a silly question. Every blogger needs to monetize his blog. Monetization can be done on any niche but the real earning can be done only on the most profitable niche.
As all the pro bloggers say, blogging is itself a business, so consider it as a business. In any business you will go for a profitable product category. Then why not in blogging?
If you are really thinking about blogging as business then you must choose the most profitable niche for your business that generate you a flow of cash.
My dear friend, here I have been selected 7 things that your competitors know and you should know too. Basically these 7 things will help you choose the most profitable niche.
The Potential Strength of the Niche
Your competitors who is more successful than you have much better knowledge of the niche you are writing about.
They know the actual strength of the niche in the market and you must know too.
They are all aware of the current trend in the niche and the potential of the trend. If you want success in that particular niche, I recommend, you must know this.
Now, here is a question, how can you know the strength of the niche?
It is not an easy task. You will have to spend a lot of time doing research and finding out the popularity of the niche.
There are may tools to research the popularity of a niche. Here I would recommend two of them
- Google Trends
- Answer the Public
At google trends you will find Percentage growth of the niche in a specific time span. Google trends is the best tool to know about the popularity of a niche.
Answer the public is a web portal where you can get the ideas on the keyword you entered. Denser the ideas better the niche.
Who are the Readers?
Knowing the readers is the most important thing that you must know.
Here I am not talking about your readers mind or their psyche or what they think.
Here I am talking about the readers personal identity. Who your readers are? How old they are? Where do they live?
Knowing these things will enhance your chances of ranking higher.
How knowing your readers affect your ranking?
If you have the knowledge of your readers community, age, location and interests then you can easily approach them in a way they like the most.
For example; you are writing about smart watches, who do like smart watches most? Obviously , the young generation. Youth of the age of between 17 to 28 years.
So, who should be your target? Youth of the age between 17 to 28 years.
What would happen if you target another group different to your audience? Well, you will get a low conversion rate.
So, from this example, it is compulsorily important to know your readers. Finally, your readers are your potential customers.
What your readers think, what they like is important. You must know their thinking, you must know their mind.
How are you going to know this? Well, there are few proven ways to read your readers’ psyche.
The most effective one is survey and feedback. Just start a survey as your competitors do to find out the hustles in the mind of your readers.
The 2nd method is self realization. Please Note, this method only works in case you are writing for likeminded people.
In the 2nd method of self-realization, you are writing for like-minded people then you have all the ease to know your own likes and dislikes. This way you may easily read the mind of your readers’.
Where you can Approach your readers?
Your competitors always knows where your readers lies. It is important for you too to know this.
You must research social media to find out the possible existence of your readers.
Search Facebook, Instagram, Twitter, YouTube and other social media Networks. You can follow your competitor too to get their presence in the social networks.
Following your competitor, you will get a great Idea where to find your readers.
Why am I advocating to follow your competitors?
Very first thing, there is nothing bad in following your competitors. Your competitors can be your guide on the road to success.
Second, your competitors already know where your readers are? You only need to follow the lead.
They help you in great amount without even knowing.
What kind of product they would like?
Here we are talking about the most profitable niche. If we are talking about the most profitable niche, there must be some product, services, blog-post around that niche.
Your competitors know very finely what your product, service or blog-post your readers would like.
How would you sell your product if you even don’t know what they like? There will be no existence of you, if you don’t know their likes and dislikes.
All your profits and losses are totally dependent on their likes and dislikes.
Just imagine, your are pitching a man a red rose who don’t like color red. Are you expecting a sale in this scenario? I even can’t think about it.
From next time, before starting a sale, do some survey and feedback call and get an idea of your customers, your readers likes and dislikes.
Future opportunities of the Niche
Your Competitor always knows about the most profitable niche. He not only know the current trends but also have good knowledge of future opportunities.
They know what is it in the future of this niche and they plan accordingly.
Do you know the future opportunities of your niche? You must know.
How would you survive if you have no idea of next 6 months of your niche?
My dear friend, you have to be prepared for your future around that niche. If you are not finding any future, you must have selected a wrong niche.
It is you who has to decide what to write and what not to. So, choose an evergreen broad niche and start writing around micro niche within your broad niche.
Your micro niche may obsolete in a year or two but your broad niche will last long with new and different micro niches.
Choose your niche wisely and write for eternity.
Complete Growth Strategy
As I told you earlier, blogging is a business. Every business needs a growth strategy. So, blogging also, should have a growth strategy.
Your competitors know well how to grow in this particular niche. They are all aware about the targets and the actions to grow in that niche.
It would be great if you spy on them, follow them to get the idea of complete growth strategy.
Following your competitors is easier but spying is harder. How can you spy on your competitors?
Well, there are many tools to spy on your competitors. I would recommend you one very famous tool known as SEMRush.
What does SEMRush do? It gives you an idea of your competitor’s work. What keywords your competitors are using, what product they are promoting or selling.
It will be lot easier for you after getting the ideas from your competitors.
Choosing a niche is a most important task for any blogger or businessman. Always target the most profitable niche that is also relevant to your writing style and your knowledge.
You should follow your competitors to get better idea about your niche. As your competitor knows well about the strength of the niche, readers’ psychology and where you readers exists.
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