How to Pick Your Niche
The journey of starting your website starts like any other: Brainstorming.
Let’s start by brainstorming the niche that you will dive into. Keep in mind
two things: your personal interests, and others interests.
Start by asking yourself some of these questions:
- What niches are you a customer of?
- What are your interests?
- What would be your dream business?
- What types of niche’s do you have prior work experience in?
Write down any ideas that come to mind, and narrow it down to one or a
couple. Start researching the topic online, look for similar businesses and the
tactics they are using to make money.
You want to look for competition, it’s a good thing. If there are no businesses in your topic there’s a large chance theres not much money in that idea. Focus on something that has smaller competition, a market, and you have interest in (the sweet spot).
How Will You Make Money In This Niche?
I’m going to highlight the most typical ways to make money with a website,
along with how effective they are. Think about methods that you can
implement in your topic.
- Affiliate Marketing
- PPC (Pay Per Click) Advertising
- Ad Space
- Sell Digital Products
- Sell Physical Products
Affiliate Marketing is the most popular and quickest way to make money off
Basically, you reach out to a company or product vendor and tell
them you will promote their product. The vendor will usually give you an
affiliate link or promotional code so they can differentiate the buyers.
You will be paid either a flat-fee or a percentage for every sale you produce for
them. In affiliate marketing, it’s up to you to sell the product to the user, and
direct them where to go.
PPC (Pay Per Click Advertising)
PPC is most typically established with Google Adsense, offers you to give up
space on your pages for advertisements. This is very simple to setup.
After signing up for Adsense you connect it with your site and Adsense will display
relevant ads to the visitors on the page. You make money when the user click
an ad. Your cut is a flat-fee usually anywhere from $0.50 – $5.00 per click.
This is effective if your site generates lots of traffic. Usually, it wont work
well for starters.
Another way to make money with advertisements is to reach companies and
sell space on your page to them directly. You can sell this however you like.
Maybe you say “Footer banners will cost $xxx per month”. It’s totally up to
you. This is also not a super effective method for starters, as you have less
connections and authenticity. If your interested in trying this method out, take
a look at BuySellAds.
Sell Digital Products
Selling your own digital products has a major benefit. You have no middleman to dictate price, or a commision that you get. You are in control of the
price per sale. There’s a major downsite though… It takes a lot of time to
create these products or resources. Digital products sold are usually E-books,
Software, or Online Services.
Sell Physical Products
Just like Digital products, this takes a lot of time to create and manage. Not to
mention money and inventory. If you are low on budget, try out simple
physical products like clothing. Something that you don’t have to produce
yourself but pay someone to.
You see donation buttons mostly on free products or services. Think about
Wikipedia. They offer their site for free but commonly ask for donations to
help maintain the site. This is simply not a great way to generate consistent
This is a great opportunity for blog websites. It works similar to affiliate
marketing however requires a good basis and steady traffic to start. You can
reach out to companies and offer to write a blog post, or review their product.
They will pay you a commision for it and you will get the opportunity for new
content on your site.