Niche selection: importance of industries
In my previous article I have shared my revised approach of the niche selection process. I assure you that once you start applying the mentioned techniques you will discover a few niches weekly. Certainly it is next to impossible to embrace all niches discovered.
Which ones to choose? Those that have plenty of adv money in them.
Just a simple example. Let’s have a look at those Internet entrepreneurs that you are likely to know. To be exact, I suggest that you have a look at their website portfolio focus:
Jeremy aka Shoemoney – focus on mobile industry, particularly ringtones
Darren aka Problogger – gadgets (digital cameras, cell phones, etc)
John, popular wickedfire forum owner – finance
Capitalist Pig – finance, mobile
Xboxundone – mobile, adult
Kieron - shopping, finance, poker
I think you do not need much analysis to see that these guys focus on those industries that have good income potential. I do not want to say that their website portfolios are limited by the mentioned niches – they run many websites, each of them, but the most profitable, I would say pillar niches are those that are mentioned above.
You can run quite successful websites that get good amount of traffic, but you are likely to turn those visitors into a few dollars due to the low payouts of CPA or CPC advertisers in those industries.
Summary: My intention and advice are to start a few ‘boring’ websites in those niches where one can earn really good income. It will take time to grow those websites, years in fact. But it is the current state of Internet marketing business that we should accept. If you are lucky or smart you will make this period shorter.
I like the progress of a few websites from my portfolio when it comes to traffic stats, but when I analyze their CPC income I feel really upset to see that they get tons of .05-07 clicks (AdSense), the same applies to Kontera network ads. And potential of CPA income is very limited as well.
Yes, I do realize that it is much harder to succeed (= get good rankings with organic SEO or low bids for PPC promotion) with that type of websites, that the competition is super tough in those niches, but I am sure it is worth it. You can enjoy your other (‘hobby’) websites when you have free time or at the weekends. Added to that you can drive traffic from your popular low income websites, but you need a few boring websites in the money niches. Otherwise you are destined to do a big amount of work for a few dollars.
[tags]website niches, seo, affiliate marketing, internet marketing [/tags]
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