How to Select a Profitable Niche in Affiliate Marketing

Table of Contents

In this topic ‘How to Select a Profitable Niche in Affiliate Marketing’ We will be talking about:

Choosing a Profitable Niche in Affiliate Marketing

Choosing a Niche can be a really difficult process for a Beginner/Newbie. It can be hard for an advance marketer too.  Selecting the correct Niche is an important factor in your success in the Affiliate Marketing business.
You may see a lot of Youtube videos talking about the niche or the top 10 niches you can find. But if you do not know how to go around that niche than that suggestion is out of focus. 

During the pandemic, I had a chance to attend an Affiliate Marketing Webinar. In this webinar, there were a lot of newbies who were present and there were some struggling affiliate marketers too.

Some doubts and questions were coming up and these were like,

“I do not know what is my niche?”

or

“Which Niche shall I choose for my affiliate marketing business?”.

So, it clearly showed me that lot of people were not sure which Affiliate Marketing Niche they should select or which Affiliate Marketing Niche is profitable for them.

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When I started my affiliate marketing journey, the biggest challenge I faced was to create content and it is still a challenge for many of us out there.

So, if you do not know what is the right content for your niche than it means, it is not the niche you should be looking at.

or

You need to really educate yourself in that particular niche. I have been in the e-commerce business since 2008, being a power seller on eBay,  I was able to generate 6 figure sales every month out of my eBay store.

And why I was able to do that because I was interested to do it.

I did not have a business background. I did not study sales anywhere in my college and I didn’t have any knowledge about e-commerce before. But I created this as my niche and started working towards it. 

But, why did I do it? 

Simple,  because I wanted to earn money and that is what kept me moving.

I learned about eCommerce, delivery standards, packaging and much more. I took ACTION and had put extra effort into learning about  “how can I increase revenue?”. The only motivation I had was that I had to earn money. 

So, the first thing about selecting your niche is that you must be ready to learn and put in the extra effort. Than and only than you will start seeing results in your selected niche.  

Affiliate Marketing & Your Niche

While picking up your Niche you must keep in mind the ROI and ROE.

ROI means the Return On Investment

&

ROE means the Return On Effort.

ROI in the affiliate marketing business is directly related to the program you choose.

ROE whereas relates to the effort you put into your business. It is also important to understand that along with the money you invest in your business,  you need to also make a note of the effort you invest in it. The goal should be less effort and more income.

It might happen that in the beginning that you might have to put an extra effort to make things rolling.

But, the average of the effort spent should acceptable as per the money you receive.

Like I mentioned in the above paragraph that you may need to build a strategy to overcome the less knowledge factor you might have in your niche. By putting an extra effort to learn about the Affiliate Marketing Niche you will be able to do wonders.  As an affiliate marketer, you must always keep both these factors in mind when you promote a product.

If you fail to do the above-said strategy,  you might be earning very less money in your business.

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Well, at this point you must be thinking, “how to do that?”

The answer is very simple and that is “ You must be extra sure about your Niche you choose and the profit it will give you”.

You must also do all the research possible to ensure you make an informed decision.  Even if you do not have any experience in the niche, you must be sure from where will you get the education and knowledge about this niche you have selected.

The commercial value of your niche is the most important factor in your affiliate business more than the affiliate program you choose.

The reason is very simple and that is you may come across many affiliate program but your niche will always be the same.

If you decide to change your niche at any given point please understand that you have to do a lot of basic work again.

These may include educating yourself, building strategies,  finding leads, work on social media platform etc.

So the bottom line is that you pick your niche first and then you pick up the affiliate program. I have seen a lot of people doing this the other way around and hence they are not able to perform in the affiliate marketing business. 

Identify Your Profitable Niche in Affiliate Marketing

First and foremost, always choose the topic you are interested in and passionate about.

In addition to that, you also must have enough sources to keep up with changing trends of the niche. People want something new every time and if you are not able to give them that they will just move on to your competition. 

When you identify your niche also keep the competition you have in the niche into consideration. 

You really need to be sure about this. Think of it, as if someone asks you to talk about a topic for at least fifteen minutes without preparation what it can be and you will get the answer. In case, you cannot do it then you have to make yourself ready to reach that stage where you can speak about your niche without preparation. 

Also, you may use google trends to find the keyword strength of your niche. When we say keyword strength here it means that the search volume of your keyword compared to another keyword.

This is a very good tool for getting the right keyword for your business.

It is also important to understand that when you pick up a niche that has a very high search volume you will have a lot of competition to deal with. Also, on the other hand, if the search volume is very low then also it might not be worth it for you to take that niche.

In both cases mentioned above, the earning potential for that particular niche goes down. 

You may use the link to google trends is https://trends.google.com/  as it is free to use. You can select the region you want to look at and also you may compare up to four keywords at one time.

This is how google trends look like 

Google Trends

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The other tool you can use is google keyword planner. It is also a good resource to use.

This tool will help you to identify the cost per click for the keyword of your niche.

When freshly starting up, do not pick the keywords which are very expensive. 

Also, do not pick the keywords which are very cheap. A good option is something in the middle. While selecting your niche one must also look into the options for affiliate sign up available in the niche.

For example, if your niche is a fountain pen you need to make sure there are enough affiliate programs in that particular niche.

It will be a bit disappointing for you to discover later that there are no affiliate programs in your niche after spending time and effort.

...

The other key factor you would like to know before selecting your niche is to know its growth pattern of your niche.

To find this information you might want to use google trends. It is important for you as a business owner to make sure that your niche is not going down in future.

For example, if you choose a niche on iPhone X to be specific and you would want to promote its accessories and apps etc.  But iPhone X will be going down pretty soon as Apple will launch its successor. After few years iPhone X will lose interest in the eyes of the people. 

Therefore, it is important to know the stability of your niche. When you see the trend at google trends of your niche please ensure the graph is not a straight horizontal line.  The trend has to go upward and beyond. You must have the ability to forecast the trend of your niche. If you are unable to do that you may start losing money in the future. 

Social Media Platforms & Profitable Niche in Affiliate Marketing

The next important step in selecting your niche will be its coverage on social media platforms.

It is important to keep in mind the name you will select for your website and its availability on different key social media platforms. You should also try to get a .com domain. It is always better to have a .com.  In case it is not available you may look for other TLD. 

As an affiliate marketer, it is also important for you to find out the different Facebook & Instagram groups with the same interest as yours. You must keep a close eye on what they post. How often they post. When they post. The comments they are receiving. 

When people comment on any post that determines what are they looking for. Anything which generates interests brings comments and whatever bring comments is trending. 

Youtube plays an important role in your niche growth. There are many ways you may strategically use your youtube channel to bring money into your pocket. 

The other trending social media platform is Pinterest and there are many great ways you can generate leads and earn money through it. 

Another one is Twitter, it sends out limited characters text and it is used worldwide. 

Most Expensive Niches in Affiliate Marketing

Let us talk about some of the topics you may want to choose. There are certain topics which can fetch you a lot of money like taxation or some medical topics which can affect someone’s life in some way.  You need to make sure that you have the right qualification and experience to share the information otherwise it will be very difficult to rank your website. For any other topic, you need to specific and try to take specific topics for your selection of the niche. 

However, selecting any niche is your discretion. But as an Affiliate Marketing Business owner, you must understand the cost you might need to bear if you want to run advertisements for your niche. The most used search engine is google. Everyone wants their website to search number one on google.  And, practically it is not possible. To counter that Affiliate Marketing Business owners would like to run advertisements on Google to rank their page as number one.

So, Google does not charge a fixed price but does charges you as per the keyword you would want to rank. 

Below is the list of the most expensive keywords which has a very high cost per click on Google. 

  1. Insurance – $54.91
  2. Loans – $44.28
  3. Mortgage – $47.12
  4. Attorney – $47.07
  5. Credit – $36.06
  6. Lawyer – $42.51
  7. Donate – $42.02
  8. Degree – $40.61
  9. Hosting – $31.91
  10. Claim – $45.51
  11. Conference call – $42.05
  12. Trading – $33.19
  13. Software – $35.29
  14. Recovery – $42.03
  15. Transfer – $29.86
  16. Gas/Electricity – $54.62
  17. Classes – $35.04
  18. Rehab – $33.59
  19. Treatment – $37.18
  20. Cord blood – $27.80

Please keep the above numbers in mind when you decide the niche you want to choose. You must have a detailed marketing plan to drive traffic to your niche. 

Tools to manage your Profitable Niche in Affiliate Marketing Business

Let us talk about some of the tools you would want to use in your Affiliate Marketing Business.

1.  Images play a very important role in any business. Therefore in Affiliate Marketing Business images play an important role. To create beautiful image-based content we may do the following

We hire someone to do it. Easy, but extremely expensive. If you can bear the cost I will suggest you go ahead with this option. It will save you tons of time and you can focus on your business.

If you cannot afford a designer, I strongly suggest buying cloud-based software.  There are many in the market but I suggest you go ahead with something which can offer you a lifetime deal.

I use Grafikky. It is a product which makes a lot of things easier for me.  It is a 10 in 1 web-based graphic tools which can create graphics, create an advertisement, do social media posting and much more. 

What Grafikky does is this :

Helps you stand out in the crowd, makes your brand get noticed.

Builds trust, engages with your audience, gets you more leads.

Will help you to grow your business like never before!

Grafikky comes with a lifetime deal and you pay once and that is it. No monthly fees, No expensive subscriptions, No Limits. 

You can use it forever.

To know more about Grafikky Click Here

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2.  The next tool you need is a domain, a website, and a builder.

So, to host a website one you need a hosting service and a domain name. I have used many hosting services during these years and one I can really recommend and it is the best and that is Fastcomet. You click here to buy Fastcomet

If you want to read more about FastComet Click Here

To build a website you need a content management system. You also need a page builder. The above-mentioned tools are essential and you may click here to read about Essentials tools in affiliate marketing. 

3. The next tool you would need is software that will make your affiliate journey easy.  This is an automated software that fulfils your affiliate needs without you being put in a lot of effort. 

The tool is very efficient and it is called Affiliate Suite. Click Here to Know More

Affiliate Suite is the ONLY web-based software that researches, creates, optimizes, monetizes and builds fully-fledged unique affiliate campaigns for you and your business.

To know more about Affiliate Suite Click here

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4. The next tool is a video creator which you may need for making YouTube videos.

If you don’t have any, I will suggest you a self-sufficient tool. 

It will provide you with free stock images, free stock videos and a basic video editor integrated into it. 

It is called stock nation and it comes at a one-time cost of 77 USD which is a lifetime license. You may click here. Once purchased you do not need to pay anything on top of it unless you would want to upgrade to a better version. 

So if you want to know more about this tool you may click here.

If you are looking for a mid-range video editor where you can record screen and edit videos I suggest Camtasia. To buy Camtasia you can visit here. It cost around 249 USD one time + an Annual recurring cost of 49 USD as of today.  

And

If you are looking for a professional-grade video editor you can go with Adobe premiere pro or Final Cut Pro (only for MAC). Both software needs time to learn and have a very high learning curve. 

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5. The next tool is to collect leads. The lead collection is an important mechanism for any Affiliate Marketing Business. So here, I have a tool for you that will let you collect leads from Facebook. 

This is an excellent tool for anyone who wants a great out of their Facebook. The tool is called 10X Social. To know more about it Click here.

Conclusion: How to Select a Profitable Niche in Affiliate Marketing

To Conclude,  I would like to mention that a profitable niche in affiliate marketing can earn you millions of dollars.

But, you need to have a strategy and proper execution to achieve this goal. I strongly recommend you read my other articles on this website.

Also, you need to invest in tools. You should not hesitate to invest. An investment is required in every business and this also stands true for affiliate marketing. 

You need to be consistent and do not lose hope. Even, if you fail in the beginning. Affiliate marketing is like a tree. You need to do HARDWORK, PATIENCE & SACRIFICE to let IT GROW and to wait for it to produce the fruits. 

 

That is all in How to Select a Profitable Niche in Affiliate Marketing 

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