Select The Perfect Niche For Your Online Business Using Keyword Research - Module One

2. What Is A Niche? & Why Is It Important To Research & Select One?: A niche can be defined as a topic or a category that is relevant for a particular group of people. Among others, weight loss, hair and skin care, cooking, spirituality, line entrepreneurship, parenting, web design, travel and lifestyle, Bet health and training, and pretty much any other topic that caters to a specific interest and a specific need. You might already have a clear idea of what your niche is, or maybe you're not sure yet and you're still exploring and evaluating your options. Regardless, it is time to study and evaluate all the niches that stand out for you. And identify the most suitable niche and begin building your affiliate business around it. The importance of selecting a niche is that unless you're selling oxygen, your business will not be interesting to everyone. To explain how, let's use an example. This is Sarah and she runs her online business as a freelance web and brand designer. And she wants to explore her options within affiliate marketing. Sarah starts by listing the different tools and software that she uses to perform her job. One of the tools that Sara uses is called Elementor. Elementor is a web page builder that she uses to design websites for her customers. Like many other software companies, Elementor offers an affiliate commission to those who are able to successfully promote and sell their products to others. Now Sarah has a few tasks to complete. Like, for example, researching where could her audience be found. She most likely will not generate any affiliate sales by shouting about elementor to everyone she knows, hoping that they will be interested in web design, they would understand the topic at all. But for example, if she joins a Facebook group of web designers or a Pinterest group of web based business owners. Reaches out to them and tells them about Elementary's features that they would be able to understand the value of. She may have a chance of generating interest and potentially a sale. By identifying web designers and web based business owners as a target market, Sarah can focus her affiliate marketing efforts towards this particular group of people. And create content that catches their attention. And place this content where they can actually find it and interact with it. This is what we are focusing on in this part of the model. Now when identifying your niche, you might be wondering whether it is more profitable for you to select more than one niche. The reality of it is that selecting multiple niches means that you will be dividing all your business efforts. That is, if the niches are too different from each other, as you will not be able to mix them under one business and one brand. You will be building two different affiliate businesses at the same time to websites maybe, and two social media channels. Because you will be targeting two different groups of people and two different target markets. What I believe works best is to select one primary niche and to build your entire business around it. The niche that you select could be broad enough that it can be divided into sub niches like self development or health and fitness. When you build a business around self development as your primary niche, you can mention mental health, or time management, or mourning rituals for example. These sub niches fall under one category, which is self development. The same thing applies for yoga or healthy diets or exercise programs, for example. That you can use a sub niches if you want to own a health and fitness based business. This way you can promote different products under different sub niches that can all be promoted under the same brand and business that you will be building around one primary niche. Now, with all these options and all the new information, should you be selecting the most profitable niche? My answer is that while it's absolutely essential that the niche that you select is profitable, it is also really, really important to select a niche that you are genuinely interested in. True that many businesses are built by people who do not have anything in common with their customers or target market. But the affiliate marketing business that you are building as an independent entrepreneur relies on you creating the promotional content by yourself. That requires a solid understanding of your audience and their problems and their product needs. When you select a niche that you're interested in, content creation becomes a joyful task and you will thrive on growing your affiliate business. If you speak passionately and honestly about something, you are most likely to establish authority and trust. Which in return will help you build long lasting relationships with your audience and generate more sales. Now in the next video, we're going to start a niche in depth research. But before that, please take the time to complete the next assignment and create a list of six potential niches that you are interested in building your affiliate marketing business around. They can be anything like parenting, or art, or education, or cooking, or online marketing, or mental health. These are just a few examples of the endless possibilities. The goal here from this assignment is not to select the final niche, but for you to brainstorm the different options you are personally interested in. Later on, you can research and evaluate them to determine whether they're actually suitable and profitable or not.