Expanding My Income Streams: Part 2
Niche research… which is truly the “Step 1” of any online business, can also be the deciding factor in whether or not you will succeed of fail.
Kind of rough that the very first step in this process can make or break you, right?
First if you’re new here, checkout the first post in this series to see what this is all about by clicking here:
I’m going to be writing this post in another tab on my second screen while doing my research so that I can detail each step, and hopefully cover everything.
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DISCLAIMER: I will be oversimplifying a bit, however KEEP IT SIMPLE FOLKS. Don’t overthink this, find a good niche for you and don’t worry about anything else.
Let’s get started…
Let’s start by laying down a few ground rules…
- The best niches have a problem that needs solving
- No fads (IE fidget spinners etc) – want a niche that’s been around and is here to stay
- I want something that I can create a support group type community around (brings us back to point 1)
- Must have PLENTY of offers on the various affiliate networks
- A big plus would be that it has multiple sub-niches, for example “health and wellness”. There are dozens of niches under this such as diabetes, fitness, etc.
- Not necessary – BUT – if you have some interest/knowledge/or connection to a niche it is a huge plus
Do not worry about a niche being “over saturated”. If there are a lot of people working in a niche, that means its because there is proven money there.
Niches I personally have some form of connection to…
- Skin tags (had one once, very annoying)
- Skin care
- Weight loss
- Hair loss
Okay, now with the rules and my niches in mind let’s head over to clickbank.com and see what offers are being promoted…
Right on the home page the “sponsored” products are:
These offers are important because they are paying to have these displayed here… which means that they are 98% likely to be making good money.
At a glance we’ve got:
- A health shake supplement
- Multiple muscle/strength building offers
- A diet
- A Make money online software tool
- Language learning
- Photography training
- Dog training
- dancing training
- Guitar training
- Singing training.
Okay. Next let’s head into the marketplace:
I noticed a trend on the home page of health/fitness so let’s start there…
Now, Clickbank has a useful feature called Gravity which sorts by best sellers with lowest refund rates…
Let’s sort by Gravity.
As you can see in here there are endless amounts of offers in this niche, it’s massive.
I want offers that pay out more than $20 and have a gravity above 30
Right off the bat I see two offers that have great gravity and good payouts: The 2 Week Diet & Lean Belly Breakthrough
Next up, I’m going to repeat this process in a few other categories…
Overall the categories that I personally have a connection to are a bit weak. Weightloss is looking like a winner but there are two problems here:
- Weight loss isn’t easy to market on Facebook because they have some very strict rules
- I’m familiar with the niche but don’t really want to work in it.
Moving on to Magazines.com
Right off the bat head into the “Best Sellers” category on the top menu.
Ignore the gossip/hollywood magazines and focus on the niche type stuff.
The magazines that show up in the best sellers mean that these niches #1 have a big audience #2 have an audience that spends money!
I’m seeing cooking, men’s health, gardening, women’s health, handyman/DIY, and hunting/camping.
Now… pay attention to the headlines on the niche magazines you’re interested in. These magazine companies spend a ton of money to know their market… these headlines are things they are VERY interested in and can be used later for marketing/ad copy/lead magnets.
BOOM – 4 potential lead magnets right there…
- Amazing meals for lazy cooks
- Beat the stress
- 5-Minute Workout Tones All Over
- Hot Abs
But wait! There’s more!
Can you say gold mine?
I spy 9 lead magnets on this cover…
And one more for luck:
This magazine has no less than 7 lead magnet ideas right on the cover.
Remember folks, these magazines know these audiences like the back of their hands… these are hot topics that these audiences are super interested in.
And finally for this website, just check the all categories tab on the menu. If you see a niche listed in there, that means there is a big enough audience who spends money… which means it will probably be a viable niche for us.
Moving on to Offervault.com
This is a huge collection of affiliate offers… I can guarantee you that if you find an offer on here, it is making money.
I have decided to go with weight loss as one of my niches and Survival as another. Keep in mind that both of these are big but will be tricky to advertise, so if you’re a newbie with paid traffic on Facebook you might want to go for a niche that’s a little easier to promote.
But, here’s some offers on offervault:
There’s many other places you can look for viable niches, but this is a rock solid start.
Want to convert faster?
Well there is an easier way, simply going after offers that are for lead generation. These offers normally pay much lower though, like $1-$3 per lead so even though they will convert better than a $30 offer you need to keep in mind that Facebook is expensive. Even with years of experience there are just some niches where I can’t get cheap leads.
I average $1.50 cost per lead.
Now, this would still be profitable for me if the payout is $3… but you also need to consider that you want the email address also.
How will you get it?
Well since these lead-submits convert better my personal plan is to run my leads through a funnel, offering multiple affiliate products. Then afterward immediately invite them to my Facebook group and begin sending them emails. There is a science to this stuff… and you’ll learn how I achieve this in the coming posts.
For now get to work, don’t over-complicate it. Get a niche!
Drop me a comment below with any questions