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3 Smart Tips for Choosing a Profitable Niche

content strategy

Today we’re focusing on 3 tips that you can apply to your business or brand to set yourself up for success.

One thing that I see that stops many people from stepping out and building a personal brand or business is a lack of clarity around who their audience is.  People also get discouraged if they feel that the market that they’re trying to break into is too saturated with influencers or celebrities.

The good news is that these are a great fix for these types of mindsets.

If you want to increase your influence and help more people you can’t try to serve and please everyone, that is actually one of the fastest ways to fail.  Our lives are so filled with noise and busyness, so if you want to cut through the noise and stand out, you’ll have to hone in on what’s called your niche market.  

A niche market is a smaller group within a larger audience with its own particular needs or preferences, which may be different from the bigger, broader group.  

Think of it as a market within a market. Marketing to a niche is much easier than appealing to a broad group because it’s people have much more in common in terms of needs, wants, or problems.  

All niches are not built the same, and even more than that, all niches are not profitable for you as a creator. These 3 tips that we’ll cover will help you to choose a niche that’s profitable for the long run.

1. Pick a topic you’re passionate about

It’s very important for you to choose a niche that centers around a topic that you’re passionate about.  The reason for that is because you’ll be spending a lot of time learning the basics and best practices that your audience can apply to make progress towards change. You don’t have to be an expert or guru, all you have to do is be a guide that helps get your niche audience to the next step in their journey.  

Give people the push they need to get started and support them as they get off the ground. Experts are only those who have mastered the basics so well that they can use them to create something uniquely their own. 

This tip will help you to choose a profitable niche because your passion will help keep you interested in continually learning and improving your expertise in this area, which will lead to a greater experience for your audience.

2. Choose a niche (and a platform) that plays to your strengths

This is where you’ll consider how people in your niche market prefer to consume content.  

  • Is it podcasts?
  • Is it video?
  • Or do they prefer to read blog posts?

Whichever one they favor, you’ll need to ask yourself if it fits your skills as a creator.   When you first start out, skillset may not matter as much, because you can always grow as a creator.  The most important thing is to show up to them consistently to show them that you’re devoted to adding value to them.

A niche that plays to your strengths will keep you motivated and challenged at the same time.  You’ll feel a sense of accomplishment and fulfillment as you improve your craft for the sake of your audience getting even more value out of your advice.

3. Find an opportunity to serve your niche

A profitable niche is one that has a lot of people searching for it - specifically around a pain or problem that they’re trying to resolve.  When you’re first starting out, you’d benefit from doing a brainstorm and finding 3-5 popular topics that your audience is searching for. Serving your niche involves creating content that solves a SPECIFIC problem that they alone have, which we go into on more videos on our channel

That's why creating a content marketing strategy is one of the most important things you can define for your business or brand. When it comes to picking a profitable niche look to see what products people are purchasing to help remedy the problem that they have.  Look to places like Amazon, forums, or Affiliate Websites to see what the most popular products are for those topics.

BONUS TIP: There’s a ton of gold in the customer reviews for these products as they showcase the language that customers are using.  You can use this language to talk about these topics in a way that resonates with them. Your niche should help you get to your end goal for what you envision for your life.  Again, in order for a niche to be profitable, it should be one that you’re passionate about, one that plays to your strengths and one that provides you with an opportunity to serve others. So, don’t choose a niche just because it pays well, because you may find yourself hustling for the wrong reason.  Do it because you truly want to help others and see their lives changed for the better.

QUESTION OF THE DAY: What niche are you trying to break into and why do you feel it’s a good fit?

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