In the course of earning a living online, I promote and sell a variety of products in a number of different ways. You might not know that if you read this blog, where I promote a number of products but emphasize one over the others – Wealthy Affiliate. I like the product, think it offers good value for the money and it converts fairly well, which is to say that the people to whom I recommend the product seem to like it.
While I promote other products, this is the product that I think works best with both the content and the readership of this blog. Many of the visitors to this site are people who are new to trying to make money online and they may not fully understand the process that goes into making money in affiliate marketing. Wealthy Affiliate is a good way to introduce them to the concepts involved and with the free trial, they can even learn the basics for free. But someone recently posted a question in the comments on this site about that, asking, “Why do you promote wealthy affiliate for a few bucks when you can promote these “high ticket” products and make much more? ” That’s a good question, so I thought I’d go into detail about that in this blog post.
When deciding to make money online, a big part of that decision is choosing your marketing niche. Marketing niches define what, exactly, you’re going to do and how you’re going to do it. If you like dogs, you might want to build a Website around the needs of dog owners, though that’s a bit of a broad market. What you want to do instead is choose from a number of marketing niches within the overall market of dogs. Dog training, for instance, or dog toys, or perhaps dietary requirements for dogs might qualify as marketing niches, whereas the overall market for “dogs” is a market, rather than a niche.
Of course, when choosing marketing niches, it’s easy to become overwhelmed by the potential number of possible things to do. The list is nearly infinite, and that can make it difficult to pick a market segment that you’d like to address in terms of making money. Granted, some marketing niches are going to be more popular than others – weight loss, for instance, is always going to draw more potential customers than a Website devoted to knitting. If you’re just starting out, one of the best guidelines is this – pick a niche that involves solving people’s immediate problems.
There are lots of ways to make money online, and affiliate marketing is one that has a low barrier to entry. It’s not the only way, however; you can also do well by selling physical products, and lots of people do that, too. The problem with selling anything online is that you’re likely to have competition no matter what you’re doing. It’s pretty rare to have a niche all to yourself, and most people gravitate to selling things that a lot of people want. Competitive niches are fine, but you may find yourself struggling against larger, longer-established sellers.
How can you survive in competitive niches? Most people take the wrong approach, by simply trying to do the same thing that everyone else is doing. They’ll try to optimize their Website or blog for the same keywords that their competition is using, and they’ll try to sell the same products at the same price as the leaders in that category. The result is usually a bad one – as a small, or even a newbie, marketer, you’re likely not in a position to compete on price, and targeting the same keywords as the industry leaders isn’t going to help, either, since you’re unlikely to outrank them. Think about it – how likely are you to outrank Amazon in the search engine rankings for any keyword?
Something I see a lot on marketing forums and other places where affiliate marketers gather is a question of how to pick a marketing niche. Everyone wants to find hot niches, that is, the ones that draw a lot of traffic and make it easy to make money, but it can be hard to find those, especially if you’re a newbie. Lots of people say, with good reason, that you should “follow your passion.” That makes sense; if you’re going to create a blog and you’re going to add a lot of content to it, you want to create something that interests you, because you’re going to be spending a lot of time with it. You don’t want to get into a niche that bores you, because you’re going to quickly tire of the topic before you can profit from it.
That said, the fact that something does interest you doesn’t necessarily mean it’s going to be profitable. There are plenty of niches that you might be passionate about that might be hard to monetize. So there’s more to it than finding something you like and blogging about it. You need to find a marketing niche that interests people, interests you, and which has the potential to allow you to make money from it. It’s that combination of things that makes for the “perfect storm” of a blog topic that you can use to quickly become profitable. And with that in mind, you need to be aware that there are some hot niches that are, day in and day out, niches that interest people and which offer the opportunity to make money.