Making money through the internet has become increasingly simpler over the years. There are endless possibilities and ready access to millions of paying customers. However, as it becomes simpler, the competition that one faces also increases. You see, the internet not just gives you access to customers across the globe, but also brings in competition from across the globe. This is in stark contrast to the traditional brick and mortar stores, where your competition would only be another store selling the same product in the same area.
This means that some of the common ways of making money on the internet are becoming extremely saturated. So if you are a new entrant in any of these areas or niches, then you will be in direct competition with brands who’ve built a name and reputation for themselves over several years. Competing against them will be extremely hard and would probably require thousands, if not millions of dollars in our SEO effort. Hence, it will be a wise decision to not try and compete with these behemoths.
So if that is the case, how does one decide which field to enter? In comes Niche Selection – this service. Niche Selection is the art of looking for specific fields that are not saturated with big players. This enables us to start an online business in that particular field with confidence that we will not be fighting for our survival right from the start. Once we identify a good niche, we can then go about exploring sub-niches and planning out our website architecture based on the data we collect. Then we can start creating content, rank for our targeted keywords, grow, and bring in customers. However, before any of that, we need to first learn how to select a niche.
Niches are all around us. Looking around me, I now see a water bottle, a desk phone, and a photo frame. These could be 3 possible niches. A quick search on Google will tell you that there are plenty of big companies selling and promoting desk phones, so you can easily eliminate that as a potential niche. However, the photo frame niche still looks ripe and should be a good place to start exploring. Once we decide on a broad niche, we should then look for sub-niches which will become the different categories of our website. In this case, ‘Personalized Photo frames’, ‘Wooden Photo Frames’, ‘Golden Photo Frames’, etc. would be the sub-niches that can be categories in a website selling photo frames.