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For those not down with the lingo yet, a ‘niche’ basically means a subject or a topic. This is the area of interest that your website is going to focus on and it’s what you’ll be writing about on a daily basis for your blog posts.
This might sound like an easy job – but picking your niche is actually something you should consider very carefully. Getting this right can make your life a lot easier, while choosing poorly can make it almost impossible to achieve the success you’re looking for.
Here we will look at some considerations that you need to bear in mind when picking your niche.
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Another consideration when picking your niche is whether or not it’s profitable. That’s right: some niches are far more profitable than others and you’ll find it easier to monetize depending on which one you pick.
Examples of highly profitable niches include finance and business. These are profitable because they offer ROI in themselves: someone will be happier to spend money on an eBook about earning money because in theory they’ll make that initial expense back.
Likewise, there is money to be made in any niche that has a big and obvious ‘value proposition’. A value proposition can be thought of like an emotional hook – it is the thing that people will want to buy your products or read your blog for and the ‘way’ that they hope their lives will benefit. Fitness is a great example because people badly want six pack abs and are willing to pay. The same goes for dating.
Monetizing that blog on raising stick insects on the other hand will be harder. There is simply not the same demand or ‘need’ for products here. That said though, the relative lack of competition in the area, combined with the relative scarcity of information means there are certainly ways to monetize. Ultimately it’s worth just thinking hard whether or not your niche is going to be profitable or not and weighing this up when choosing whether to write about it. Look at your competition to see whether they look to be making much money, think about your business model and maybe even try verifying your intended business model. Verifying means trying to sell to your target audience first to see if they are actually there and if they are actually interested in buying your product.
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