Finding a Profitable Niche is the first step for a successful online based business. However, its the most widely misguided part of the process. Most aspiring entrepreneurs and small business owners are often led to believe that keyword tool or database, are the way for finding a profitable niche, which is totally wrong. Keyword tools only show you the number of times a term or phrase has been searched for, not how many times it has been bought. Just because someone search for something, doesn’t mean they are going to buy it. To know if a niche is profitable enough for you to base your online business on, you need to know the sales volume of the specific product, not the number of times somebody searched for it.
So, how do you find out what people are actually buying? How do you go about finding a profitable niche? What tools can you use to find out if there truly is a market hungry for what you are going to offer? I am going to show you some of the best sources, for researching and finding a profitable niche, used by top internet marketers who have been relying on these sources for years to find profitable money making niches.
Ebay is one of the largest market places in the world. Its one of the best and easiest ways to spot a profitable niche. The good thing about ebay is that you can find profitable niche, related to both physical and digital products. A simple search of most popular products, can reveal what people are buying.
Magazines are the most reliable way of finding out if a specific niche is going to be profitable. Think about it, if the publisher has enough money to continue printing the magazine, year after year, than there must be advertisers who are wiling to support the funding of the magazine, and if there are such large numbers of advertisers who spend that much resources and money into getting their ads seen, then there must be a hungry market out there that is buying what they are advertising. Make sense?…
You may think its not a good sign, to have too much competition in a marketplace. But, it is! In fact, it’s a great sign to have competition. Competition means there is a big demand for the product. I know more competition and bigger markets may seem scary, and you may think its the wrong approach. But, consider this, if there is not much competition, there may not be a large enough market for you to promote your product /service. Of course the more competition there is in a market, the more consumers there is to sell your product to.
Make use of the internet, and take advantage of the ability to search and find different magazine from different industries. Look for magazines with a large number of subscribers, that have been around for a while. That shows you if the market will be a long lasting one.
Another really big marketplace is Amazon.com. Amazon has been around longer than ebay, so it can show products that have been selling for a long long time. Break your search down to categories, and look for the most popular products in those categories that your interested in.
If you want to create and sell physical product, than the above places will help you. But, if you are planning in selling digital products such as E-books, you would want to look at ClickBank market place. ClickBank is one of the largest markets for selling digital products. You can search for products depending on their popularity status, which will show you if a certain product is hot or not.
Using these 4 places mentioned above, you can easily find a profitable niche. Once you found a profitable niche that you want to continue with, then you can start using the keyword research, to find keyword phrases and terms used most often to search for such a product. Making money online as an internet marketer is not that hard, once you do your research and find a profitable Niche.
About the author: Satrap is the founder and author of controversial blog, blogstash.com. A blog full of great how-tos and information about making money online. Visit blogstash today to get your share of this valuable information and learn the top ways to make money online