How can we identify a profitable niche
This is how you can find a profitable niche in affiliate marketing
Many people are involved in affiliate marketing and believe that it is simply earned, passive Income acts.
"I sit on the sofa all day and earn money doing nothing!"
Of course every entrepreneur dreams of:
Make money while you sleep, like Bill Gates.
Who wouldn't like that?
Many people who get into affiliate marketing are hoping to make easy money without running their own business or selling their own products.
Sounds great, doesn't it? You can just mention a few products and provide an affiliate link.
Then you implement a few inbound strategies and get more visitors and sell more products.
But it's not that simple.
Most marketers don't make enough money from affiliate marketing to sit back and relax.
And most CMOs find that their affiliate marketing knowledge leaves much to be desired.
In addition, less than 10% of affiliate participants earn 90% of their total sales from affiliate marketing.
This means that only a very small proportion of the participants are responsible for the majority of sales in the affiliate industry.
So it's not that easy to make a living that way.
But there are still a few niches where you can celebrate success.
I found a few of them myself. Now I'll show you how you too can find a suitable niche.
First, I'll explain what affiliate marketing is and how you can find a profitable industry.
What is Affiliate Marketing?
One of my favorite definitions of affiliate marketing comes from Pat Flynn. Here she is:
“Affiliate marketing is where you earn a commission by promoting other people (or companies) 'products. If you find a product that you like, you advertise it and you get a share in the profits of every product sold. "
There are several parties involved in affiliate marketing: advertisers, providers and consumers.
But you can also choose other names, for example manufacturer or seller and affiliate participant.
A company makes a product or offers a service and then asks outsiders to promote the product for them for a profit share.
Here is an example:
A company offers products on Amazon. Amazon wants to sell more products, so they ask people (like you and me) to promote and sell their products.
If you advertise the products, you get a share of the profits. You earn a commission.
It's still complicated.
So I'll explain it in more detail by breaking down the individual processes into their components so that you understand exactly how affiliate marketing works.
So there is the dealer.
The dealer can be a product manufacturer, seller, or brand.
Most of the time, it is the company that makes the product.
For example Apple. You know that, don't you?
Apple manufactures and sells electronic products.
Any type of company can be a manufacturer: small businesses, SaaS companies, etc.
To fall into this category, all you have to do is make a product and offer it for sale.
Then there would be the affiliate participant.
The affiliate participant is also referred to as a provider or advertiser.
It doesn't have to be a company. Everybody can participate!
Affiliate participants can generate a lot of revenue, depending on the product offered and the traffic advertised.
The participant advertises selected products with the aim of gaining as many customers as possible.
If he wins a lot of customers, he can make a lot of sales, in which he is then involved.
If you have a well-visited blog, you can make a lot of profit.
Here is the Primer Magazine. It uses affiliate marketing and promotes products on its blog.
In the style guide and in the fashion blog, outfits and affiliate products from Amazon and other providers are advertised.
Every product has an affiliate link.
They even go one step further and offer cheaper products as an alternative if the advertised product is too expensive for you.
Affiliate marketing is not only used by blogs, many companies have built their entire existence on this concept.
There are websites that only share affiliate products and offers:
And then there is the consumer.
The consumer is the customer. The customer keeps the business going!
Without a buyer there is no commission.
And without a commission there is no business.
As an affiliate participant, you can advertise the selected products to the best of your knowledge and belief.
You don't have to tell the customer about it either.
The customer keeps your company afloat, even with affiliate marketing.
If it pays to be transparent in your case, you can of course tell the visitor that you are participating in an affiliate program.
But it is not a requirement.
Now you know how affiliate marketing works. Now all we have to do is find a profitable niche!
Step # 1: Research and brainstorm
Finding a suitable niche is the hardest aspect of business research for most marketers.
Everyone says, “Find your niche”, but what does that even mean? How do you find a niche? What is a niche at all?
We ask Google:
A niche is a highly specialized market. Here is an example of a niche product:
Organic bath soap.
Regular bath soap is mass produced and often bought. Many people do not even consciously buy soap, it is simply part of it.
There is only a small market for organic bath soap. Companies in this market segment are rather small and have a small customer base.
So you have to reckon with less competition in this niche than with a giant company such as Dove.
You can use Quantcast for brainstorming.
Click on “Explore” in the upper right corner.
Then click on "Top 100":
You will now see a list of the 100 most frequently visited websites.
The aim is not to copy these pages.
That wouldn't make any sense because they are far too successful!
The point is to look carefully at this list to identify patterns, i.e. niches and trends.
For example, this is what I noticed on the 3rd page:
The travel industry is very popular.
But that's still far too broad for us for affiliate marketing, right?
So now I'm going to Quora to find out more about this industry.
On Quora, users ask all sorts of questions on all imaginable topics and receive detailed answers.
The site is even an integral part of my marketing strategy!
On Quora you can now enter the industry in the search box:
Now questions arise from the industry.
You can enter the general and broad industries and you will now find smaller industries and niches.
Travel tips keep popping up in Quora search results!
Well, now we have restricted the topic of travel to travel tips.
If you can't find anything suitable, you'll have to choose a different category and try the search again.
Step no. 2: Check potential with ClickBank
Next, we take the niche we found, travel tips, and check the potential.
If you cannot market and sell the product, it is not suitable for affiliate marketing.
Then you'd just go around in circles.
ClickBank is not the only affiliate program, but it is a good reference because a huge number of marketers use it.
To check your niche, you need to click on “Affiliate Marketplace”:
Now you can enter your category in the search bar:
This is how you narrow down your niche even further.
In the left sidebar you can find a list of other categories.
Select your category or enter a search term and look at the results.
The site is a bit cluttered if you've never used ClickBank.
I explain it to you.
On the left you can further limit your results with filters and on the right you can see the available products that are offered in your category.
For each search term, I am shown products that I could advertise and sell!
You should sort the results first after “Gravity” (z. German priority) sort by:
This way you can see which products are selling well in each niche.
Now let's take a closer look at the results to see if the niche products are easy to sell.
I entered travel tips and immediately noticed the second result:
The product shows potential and pays a good commission!
With this technique, you can test the potential of your niche to find out if customers would pay money for the products.
If you don't find anything great, you'll have to pick another niche and repeat the process.
You have to look for products that sell well.
Travel tips products would sell well on popular travel blogs that provide travel tips.
Suitcases may not sell as well (unless you find an innovative approach).
Step # 3: Verify Niche Again Using Google Ads
Another important step in finding a suitable affiliate industry is to review the cost per click for the niche keywords.
Since you want to generate as much traffic and win customers as possible, you have to get an overview of your competition.
You have to find out how much they have to pay on average per keyword, who is bidding on those keywords and how you could get into the industry.
Go to the Google Ads Keyword Planner.
Click the first option to find keywords based on a term or category.
Enter keywords from your niche. You can enter multiple terms to get many results.
For the niche travel tips I would now enter the following terms:
- Travel offers
- Travel tips
You can now display the results.
Now you take a look at the average searches per month, competition and bids:
The monthly search queries show you whether there is enough demand.
The competition shows you how difficult it is to advertise products in the niche.
The categories “travel” and “travel offers” are highly competitive because there are so many providers.
You can tell from the bid whether you should invest your time in the industry.
Click on the column heading to sort the results.
That way, you can immediately see if marketers in that niche are spending a lot of money on search terms.
This usually indicates that there are high quality affiliate products out there to sell when someone is willing to pay that much money for a single click.
Now look at the search terms:
It struck me immediately that travel credit cards and travel packages seem to be very popular.
Advertisers pay up to $ 20 per click for this (and there is no guarantee for the sale).
That shows me that the niche is very popular and that you can make a lot of sales here.
Think about it.
If the marketer made only $ 10 in profit for every credit card sold, they definitely wouldn't be paying $ 20 per click!
The bid is so high because he gets a lot of money for every sale.
Now you should come back to ClickBank to refine your search even further.
I am looking for travel credit card:
Now you've found a profitable niche.
Step # 4: Sell Products
Once you've found a profitable affiliate marketing niche, it's time to start selling.
The success of an affiliate participant always depends entirely on his sales talent.
If you don't sell, you won't earn any commission!
My favorite affiliate marketing programs include Amazon and ClickBank.
Amazon is very suitable for e-commerce businesses. If you run a blog that specializes in fashion or consumer goods, Amazon is a great choice:
You can register for free and get started right away! You can start affiliate marketing right away.
You have millions of products to choose from, so you won't run out of them.
The commission is also quite good because Amazon is the market leader in B2C consumer goods:
So there are a lot of products and the process is straightforward.
If you can't find what you are looking for on Amazon, you can try ClickBank:
Since you've already found your niche, you can now search for suitable products!
Simply create a free customer account to sell products on your website or blog.
The idea of a 4-hour work week sounds very tempting.
But success does not come overnight. You don't suddenly wake up and get rich while you sleep.
If you want to earn a passive income, you have to work for it.
You can work on an affiliate marketing strategy and then make money off of affiliate links.
If you have a well-visited website, you can win customers for affiliate dealers and fill your pockets on the side.
If you do everything right, you can sell products and earn a commission.
I consciously say “if you do everything right”.
Affiliate marketing is a saturated market and many marketers don't dare to use this strategy.
In addition, only 10% of affiliate participants make 90% of total sales.
So it's not that easy to make a living doing affiliate marketing.
Fortunately, you can still find profitable niches.
You should do a little research first to find a suitable niche.
Then you can use Quora to further refine your search to find popular niche topics.
Check the potential of the topics with ClickBank.
You can then double-check the results with Google Ads to find keywords in your niche that are trending and with high bids.
Finally, all you have to do is find suitable products on sites like Amazon and ClickBank!
Find a promising affiliate niche to get into affiliate marketing and become successful.
What strategies have you used to find a profitable niche for affiliate marketing?
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