Many people do the first couple steps, find a good keyword phrase with plenty of traffic and low competition, but is there a reason why there is low competition for this phrase? It is very possible you came across a niche with no buyers or nobody spending money in this area. That is very important to determine!
You can have a high ranking website that gets a good amount of traffic, but if people are not spending money in this area and are only seeking information, then you are out of luck with that keyword. Time to move on.
Researching monetization and commerciality of the keyword phrase is very important to determine if you should put in all the hard work to get the website to rank only to find that you can’t make money off of it.
When it comes to determining the earning potential of a niche, you need to do some additional tests.
- Average Cost-Per-Click (CPC) in Google Adwords. This will tell you what people are paying for an average click. You can also find this information by using the mentioned Market Samurai and Long Tail Pro. A higher CPC means that advertisiers are competing for the term, driving the value up and most likely there is more money in that niche. More advertiser for that keyword phrase also means you should be able to find plenty of additional affiliate offers to generate income within your niche.
- What Are The Advertisements That Show Up in a Google Search? Type your target keyword phrase in to Google and see what types of advertising shows up. If there are a lot of ads, then you should be good to go. If there are few or no results, then CPC buyers are not going out of their way to buy advertising and you might try and consider why. If you believe there is still value in the keyword, then go ahead and stick with it. You might have come across a great keyword.
- Is There Related Books or Products that Show Up in an Amazon.com? Amazon.com is another great place to go to determine if money is being spent within your niche, primarily for the keyword. If there are a lot of related products, then you can potentially sell these as well. You can also create similar products to sell on your own to your audience.
- What Other Sites Promoting? Do another search in Google and visit the websites that show up in the results. Click through and check them out to find out what they are selling, if anything. The more advertisements the better. If you see Adsense ads, then they might be making the bulk of their money off of the Google Adsense network. They can also be promoting products and services which will give you a good idea on what you can offer as well.
- Search for the ‘Money’ Keywords. Another thing you should find out is what additional products and services you can potentially promote on your website. Run the following searches in Google to determine this (with quotations):
- “target keyword” “on sale”
- “target keyword” “for sale”
- “target keyword” “price”
- “target keyword” “affiliate”
- “target keyword” “partners”
- “target keyword” “media kit”
- “target keyword” “product description”
- “target keyword” “equipment”
- “target keyword” “services”
- “target keyword” “products”
- “target keyword” “customer review”
- “target keyword” “testimonial”
- “target keyword” “now available” If you find a lot of products and services to promote, most likekly you have a niche with earning potential. But if you don’t come across much of anything, you might have come across a niche with no money in it.
You don’t have to pass all the tests listed above, but they are a really good indicator if you have a niche with money in it or not. There are a lot of additional factors that will determine if your website will be a money maker. You definitely will be able to find the duds in the market this way.
Again, I wanted to send a special ‘Thanks Pat’ to Pat Flynn over at the Smart Passive Income Blog for getting the Niche Site Duel 2.0 started. His posts have inspired me to rewrite a lot of the factors he uses to determine a profitable niche. Make sure to visit his website at http://nichesiteduel.com regarding Niche Site Duel. I will be starting a forum soon that will help others wishing to follow along to participate with others looking to make money online.
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