Hey guys, this is Morgan, the founder of Gemoo.
For a startup, finding a profitable niche can be a difficult task, but it doesn’t have to be if you learn from the experience of predecessors. In this blog post, I’ll share with you my experience and tips on finding profitable niches (not Gemoo yet, but my previous app) so that you can easily follow and find yours.
Let’s get started.
In short, your niche is the specific area, group, or topic you base your online marketing.
Without a clear niche, you won’t know what to do for your website as well as your products. For example, Pet health is a niche that a lot of people make money from it. If you build your marketing around pet health then everything should be focused on it.
If you try to build a product around multiple niches, you will struggle because you will have to do everything yourself and you will not know if what you did could bring profit in the end. So, finding a niche that you know about very well is necessary to avoid wasting too much money and energy. This will be much easier for you to maintain and build a product that you know has a high probability of being monetized.
What I want to say is not just to find a niche, but to find a profitable niche.
A distinct group of individuals who are highly likely to purchase your product.
A specialized area that you have knowledge about.
Even a specific topic that you can write or make content about.
So that you will have a much easier time monetizing it and make a long run.
If you don’t have hobbies, interests, or problems that you can build around, you should just find a niche and start learning from it. Get good at it before you start building a product.
There are several methods to find a profitable niche, start by choosing one you know about or one from popular trends like:
Conduct keyword research in your chosen niche and focus on a low-competition keyword with some search traffic. For the key research tool, I’m using SEMRUSH which is a bit expensive for indie hackers, but you can easily find several more cost-effective alternatives on the market.
Take Gemoo as an example, before identifying our niche, we conducted a lot of keyword research, such as meeting fatigue, asynchronous communication, video feedback, image feedback, etc. Based on the survey results at that time, we chose asynchronous communication as our niche, which is a relatively broad niche. Therefore, Gemoo’s focus was on providing basic functions required for various types of asynchronous communication at the beginning.
The best benefit of choosing the niche based on the keyword’s search results is that your site is easier to rank high in the SERPs (search engine result pages) and you will receive more ‘free’ traffic and your business gonna grow quickly. But there are also risks, such as Google updating its algorithm, which may negatively affect your site traffic and lead to a decrease in profit.
Therefore, we can’t only rely on the SEO numbers to choose our niche and I believe the niche is not unchangeable stuff; we must adjust our niche or narrow it down further based on market feedback, such as shifting our focus from general asynchronous communication to asynchronous communication for marketers.
Based on my own experience, the best way to get a quick boost in landing page traffic in a short period of time is by paying for traffic. While you could try to attract visitors for free by using social media or leaving comments, it’s time-consuming and not guaranteed to work.
With paid traffic, you will quickly receive clicks on your website. Through a large amount of visit data, you can learn a lot about your niche. You’ll be able to determine if the niche is the right one if you’ve made mistakes, or if your website layout is subpar. And if you’re lucky enough to choose the right niche for your product on the first try, you’ll start earning a profit right away.
In addition, by paying for traffic and optimizing your site, you can indirectly help your site rank in Google. Google pays attention to the traffic your site receives, which is a big factor in its rankings.
In short, there are several benefits of paying for traffic and basing your niche website around it, including:
To get started, I recommend finding a niche that’s hot and based on paid ads. The SEO and free traffic will come later.
What if you don’t have the budget for paid traffic?
It is common for indie hackers and small startup teams to not be able to afford to spend money on paid traffic at first. It can also seem scary or difficult for people who have never done it before.
So that is the case, now is the time to start hustling and get free traffic to your landing page by social platforms and communities.
Examples of mine:
Click here to check the details.
To sum up, finding the right niche is crucial for your business in the long run. Luckily, there are many tools and ways that can help us find and validate our niche fast and accurately.
If you are an entrepreneur with abundant funds, paid traffic is undoubtedly the most effective way to achieve this goal. However, if you belong to another category, like me, we can choose cost-effective ways such as social media, newsletter, community building, and guest posts to search for and validate the niche that suits our product. Although it is time-consuming, you can get a more detailed understanding of your niche through this process, not just by data analysis.
Thanks for reading, everyone. And I’m curious if my niche-finding method makes sense to you, let me know in the comments down below, your thoughts on the matter.
Wishing you all success in your businesses!