Do you know that 42% of the startups fail because they couldn’t find a profitable niche for their online businesses?
And unfortunately, if you are among that 42 % who don’t know the exact process of finding a profitable niche, you can take a sigh of relief because in this post I am going to show you 9 easy proven ways to find a profitable niche in just 30 minutes.
After 20 hours of intense research and 8 cups of coffee, I structured this 9 steps proven process that would be super easy for you to follow while researching a profitable niche for your online business.
Without further ado, let’s start learning!
But, before that, you need to understand what is a niche or a niche market?
What is a Niche?
A niche is the profitable segment of any market with a focused audience who are looking for the solution against their problem. This is where you come up with a solution and promote it in the respective niche.
It can be further segmented into more categories such as sub-niche, and under that sub-niche, there could be more sub-niches to cover.
Industry ——– Pet
Niche ——– Dog Care
Sub niche ——– Dog Care > Dog Training
Sub-Sub-niche ——– Dog Care > Dog Training > Pit-bull Training
Every industry has a niche & a sub-niche in which you can easily penetrate if you are fully skilled.
9 Step to Find a Profitable Niche for Your Business
Here I am mentioning the most powerful 9 steps to find a profitable niche market.
Let’s find a profitable niche!
Step 1- Follow Your Passionate Niche
If you penetrate into the niche market, of which you are already passionate about then it would not be tough for you to sweep great profits from this market.
Let’s suppose, you like fishing so you would know what kind of reel will sell better and what kind of content will entice the audience of fishing to purchase something online.
Also, by following the passion you would know the communities and groups where these topics are discussed, and you can easily place your product at the right time.
It is not necessary that the niche you are crazy about is always profitable. Therefore, sort out at least 5 niches of your interest then go through them from each following step.
Step 2- Check the Niche Market Value
Before jumping into any niche, you must have a clear idea about niche worth. This clear idea will help you in the decision-making process of whether to go for it or not. For instance, entering into Anti-aging Devices niche that will be USD $43.331 billion by 2026 at a CAGR of 8.6% will give you more confidence rather than a niche with zero data.
If you don’t know what are the most profitable niches in 2020 & beyond, here is the list of more than 80+ niches!
Step 3- Look into Past & Current Trends
Always analyze trends before jumping into any niche.
The process is hell simple.
Go to https://trends.google.com/trends/ and just type your niche. For example, I searched for the word “home decor”.
Super perfect niche to pick because of stability!
The thing that you should be looking at here is the stability of the niche. It should not be seasonal or fad!
Step 4- Identify the Problem of Your Niche Market
Your niche must have a problem statement to solve.
Think for users who are looking for a solution such as “How to stop panic attacks”. Apparently, it is a very serious problem and if you find an appropriate remedy that solves this issue, you can generate massive online income. Look at the screenshot below.
The above-mentioned e-book received 10,30 positive reviews by the audience that means it has all the answers regarding “How to stop panic attacks”.
Step 5- Find Ample Products to Promote & Sell
Are there enough dropshipping or affiliate products to sell online? You must be looking for an answer similar to “YES” or crystal clear “Yes”.
To get product ideas you can brainstorm from multiple such as Amazon’s bestseller page. Just do this page and break into your niche and sub-niches to see what good products are there to sell in your niche that can be easily promoted.
If you are running an online store and struggling about finding the best products for your online stores, try these 15 killer hacks 😀
Step 6- Check the Audience’s Will to Pay (Reviews)
If you are willing to finalize any niche, you must have a clear answer to this question “is the audience willing to pay“? The answer should be in “YES” only.
See! You can’t get reviews from least passionate audience 😛
Step 7- Analyze the Competition (Existing Websites)
Check if there are websites available on search engine against a search query. This activity will help you to analyze any niche quickly.
Analyze your competitor’s websites and look for opportunities that they have missed. Also, you create content or offers products that give extra value than your competitors.
Just go through the content of your competitors, take inspiration and provide additional value, simple!
Step 8- See Online Advertisement of Niche Market
The best to measure the significance of a niche is to check if companies are willing to invest in their advertisements.
While researching, if you find websites running an advertisement on search queries, this could be a sign of a profitable niche.
Step 9- Strong Affinity/Association
Strong affinity/association of your target audience leads to more fruitful results in terms of income.
You can quickly get an idea of strong affinity niches using Facebook Audience Insights.
If the answer is “YES” to almost 85% -95% of your questions, then you can grab a cup of coffee and start working on your niche!
9 Tools To Find A Niche for Dropshipping & Online Business
If you are still struggling in choosing a niche for dropshipping, affiliate marketing or your online business, try these 9 easy proven tools from where you can easily find profitable niches.
#1- Trustpilot.com – (Best for Dropshipping & Affiliate Marketing)
What is Trustpilot?
Trustpilot is a Denmark based customer review company founded by Peter Holten Muhlmann back in 2007 with over 700+ employees.
The primary purpose of this company is to collect genuine buyers reviews who had spent their money to buy something online.
Every month more than 29.40 million online users visit Trustpilot.com to review different brands’ products and services.
With the help of these customers reviews, can Trustpilot help me to find the best profitable niche for my online business?
The answer is yes and it is super easy to find a profitable niche even you have zero knowledge regarding online business.
Here is how you will find a profitable niche on Trustpilot,
Go to https://www.trustpilot.com/
Click on the categories, which you can find in the navigation.
You can see a variety of broad niches & sub-niches in the screenshot mentioned below.
Let’s assume you decided to give “Electronics & Technology” broad niche a try that’s worth of $351 billion.
Then you clicked on a sub-niche “electronics store.”
Here you need to validate niche by applying “No. of reviews” filter.
For instance, you set a filter of 250+ under 12 month period
It means that you want to see only those brands that have received at least 250+ genuine customer reviews.
So, after setting this filter, you got just 47 of 726 brands that come under pre-set filer.
Okay, now just click on #1 result “B&H Photo-Video.”
Oh my god!
213,572 customer reviews & 94% rated this brand “Excellent”.
Click on a provided website link to see a variety of products this brand is selling.
In the navigation menu, you can see multiple categories and if you put the cursor over any category, it will show you sub-categories.
Let’s suppose you click on surveillance and under that you further click on wireless cameras category.
The game is not over yet!
Now, head over to AliExpress.com and search the same query in the search bar.
You can see thousands of customers who are willing to spend money on this specific niche product.
That’s it, congratulations you have found the profitable niche and a product to start your online business. In case, you are having trouble with coming up a business name & tagline, check out our tool Business Name Generator and Slogan Name Generator to get name ideas in just 3 seconds.
#2- Commission Junction – (Best for Affiliate Marketing)
Commission Junction is an affiliate marketplace where affiliate marketers can find thousands of products to make money online.
But, what if you don’t have any idea about the best niche to step-in using CJ? That’s frustrating, I know.
Let me make it very easy for you.
First, you have to sign-up for a publisher account, then follow these steps.
Go to Advertisers.
Once you get into an advertiser’s section, you can see the number of niches for your online business with their commission rates/sale.
If you look at the left-hand side, you will see different sections, for instance:
- Serviceable areas
- Advertiser’s country
- Geographic source
To find your dream niche that can help you to earn 1000’s of dollars in a month, you just need to click on the category.
Once you clicked on “category,” you will find a variety of niches, and under these broad niches, you will find further sub-niches.
So here I clicked on “Online Services,” and under this online services category, I clicked on web hosting/servers to see brands offerings.
Now you can see all those brands that are offering perfect offers under your sub-niche.
You can analyze their commission rates and send them a request to join them as an affiliate.
You can repeat the same exercise for any category, which is available in Commission Junction.
#3- JVZoo.com – Best for Affiliate Marketing
JVZoo is one of the best platforms for all those online marketers who want to run a successful online business.
To start with JVZoo, you need to have an account.
Just follow these steps to sign up.
If you already have an account, then just login and follow next steps.
Once you enter JVzoo, you will find ‘Affiliate’ option on the top bar, click it and go to ‘find product.’
In find product category, you will have to enter the ‘Keyword,’ ‘Category,’ and ‘Sub-Category’ of your niche.
You can find a niche by entering a Keyword, or you can search in category and sub-categories.
Here first I added ‘Software’ in keyword option to see what links I can find to promote.
You will see some options on the table, and you must know their meaning to evaluate a product.
Here is a brief explanation of some terminologies that are crucial to understand before starting with JVZoo.
- Sold: It means how many items have been sold of a particular product.
- EPC: Earning-per-click, it is the ratio of how much you can earn from one click.
- Refund: Ratio of customer returns the product after purchasing from affiliates.
Then, I went to the category and found this “Internet/Ecommerce” category interesting.
Here I focused on the number of items sold and the refund rate.
I found these two items whose refund rate is more than 10% that gives me a clear indication of not targeting these products.
To get a more precise market, I went to sub-categories, so I can make my target audience narrower in the Internet/Ecommerce niche.
You can see there are multiple sub-niches within Internet/Ecommerce niche. I found this ‘Copywriting’ sub-niche that is quite enticing.
Again, I eliminated two products with a higher refund rate and select those products, which have good EPC and selling.
JVZooPay is the new payment option introduced at this platform that helps to automate affiliate commission payouts.
When you click on ‘JVZooPay Only’ it shows you better niches, affiliate products along with their commissions & conversion.
#4- Clickbank.com – Best For Affiliate Marketing
Clickbank is another renowned affiliate-marketing website with over six-million clients worldwide.
To find the best profitable niche on this platform is extremely easy and quick.
Here is what you have to do.
Go to Clickbank.com and create an account or login if you already have one.
After signing up, go to the ‘marketplace’ option that you will find on top.
On the left sidebar, you will see categories. You will have to select the categories according to your niche preferences.
Here I selected ‘Home & Garden’ category.
In the Home & Garden niche, I selected ‘Craft and Hobbies’ as sub-niche.
After selecting the sub-niche, the product page will be opened.
Then, sort out the result by “Gravity”.
What is Gravity in Click bank?
Gravity is the average number of different affiliates who earned a commission on a particular product of a vendor within the last twelve weeks. It means higher the Gravity will lead to higher conversion rates.
By looking at gravity, you will get to know how many affiliates are successfully promoting different specific products.
#5- Watchcount.com – (Best for Dropshipping)
Watch count let you discover the most popular products on eBay by showing real-time watch counts.
eBay is one of the leading ecommerce marketplaces, so if a product is trending here, it means it is trending globally.
You can easily find the best selling product as well as a profitable niche by just searching at this platform for some minutes.
To do so:
Go to watchcount.com.
On the left sidebar, you can see a variety of broad niches.
Select a niche and country.
Here I selected ‘sporting good’ as a niche and ‘United States” as my preferred location, US.
Here you can see the real-time watch count of the most popular product in sporting good niche.
Oh wait a minute, did I just found a sub-niche?
This backpack is the hottest item in eBay US that means the ‘Travel Hiking’ is the sub-niche that would be the most profitable niche right now.
As you can see, 28k+ backpacks have been sold already. It defines that this niche is sure-shot profitable.
#6- EmpireFlippers.com – Best for Dropshipping & Affiliate Marketing
Empire Flippers is the marketplace for buying and selling of websites.
On this platform, you can get an idea of the most profitable niches by looking at their monthly profits.
Just go to Empireflippers.com and click ‘marketplace’ on the top bar.
Sort the results by ‘Sold’ option.
Here you can see all the top websites that had been sold in good rates. Below mentioned simply defines why investors are willing to pay millions of dollars to buy profitable niche websites.
If you click on the sold website, you will also get a brief summary of the business including the introduction, sub-niche and revenue model.
This business is a blogging site that provides contents related to “pet dog”.
- Niche: Pet
- Sub Niche: Pet Dog/Dog Owner
- Revenue Model: Affiliate Marketing
This business is an e-commerce site that was selling relaxing products on Amazon.
- Niche: Sports and Outdoor
- Sub Niche: Relaxing products
- Revenue Model: Retailing on Amazon
On this platform, you can easily find a profitable niche along with brief and significant information about the business in a matter of minutes.
#7- Google Trends – For Past & Current Trends
Google trend is the best platform to look out what is trending globally as well as on regional basis.
You only need to write the keyword to know worldwide trends of a product and niche:
Go to trends.google.com and write your niche in search term option.
For instance, here I want to see the trends of ‘Home Décor’ niche.
You’d better set the filter for “Worldwide” to see global trends and set time frame for five years to see a greater flow of trends.
The trend is showing the peak in demand for Home Decor niche on July 21st.
Now you need to scroll down to see which countries are the best for this niche.
See how easy it is to know the demand for any niche and products with Google trends.
#8- Amazon.com – Best for Dropshipping & Affiliate Marketing
Amazon is the biggest e-commerce marketplace in this era. You can easily find multiple ways to make money on Amazon and find out the best selling products and services by just checking Amazon’s bestseller page.
Amazon’s best seller page ranks the best selling products from every niche and updates the ranking on daily basis (See how Jungle Scout can help you to explore 1000’s of profitable Amazon’s products to sell online)
Here is what you need to do to find out the niche and best selling products:
Go to www.amazon.com/Best-Sellers/zgbs, on the sidebar you will find multiple broad niches.
On Amazon’s best seller page, you can find multiple sub-niche within the broad niche.
Like here, I selected Home & Kitchen.
In the Home & Kitchen niche, I found multiple sub-niches. So, I decided to go with “Kitchen & Dining” category.
Even in the “Kitchen & Dining” niche, I have various sub-niches, and in every sub-niche, I have numbers of bestselling products listed with their rankings.
Here I selected ‘Coffee, Tea, and Espresso’ and I found numbers of best selling items in this niche along with more sub-niches.
No matter what your niche is, on Amazon, you can quickly find the best sub-niches along with products to promote.
#9- Aliexpress.com – Best for Dropshippers
Aliexpress is a China-based online retail service where you can find a small business retailer from China to buy products at reasonable rates. It is one of the best platforms to source your dropshipping products.
Similar to Amazon, Aliexpress also offers a vast variety of niche that is further divided into multiple sub-niches.
On this platform, you can quickly find the best product to sell online in any niche.
Just go to aliexpress.com and you will find categories on the left side of the page.
In the categories section, you will find numbers of broad niches with multiple sub-niches.
Like here, I selected “Jewelry & Watches” niche and multiple sub-niches opened with more sub-niches.
Now I go for “Men’s watches” category.
As you can see, I set the filter for 4+ rating, I get all the products with top ratings that have already completed thousands of orders, which means these all items are best to sell online.
Are You Ready to Change Your Fortune?
Finding a profitable niche for your online business is not rocket science.
But it isn’t a piece of cake either.
All you need to connect the dots, meeting the needs of your audience and money will definitely follow you.
Stop making excuses and give it a serious shot.
Tell me in the comment box which easy way you are going to implement and why?
Feel free to connect with me directly on Linkedin or join my closed Facebook closed community of 4500+ e-commerce entrepreneurs.