Membership Niche Selection Tips
By<p> In order to make sure your membership business is profitable, you have to select the right market. Here’s how.
First – Look for Fanatics
The first step in developing a profitable membership business is to find a market with fanatics in it. What’s a fanatic? It’s someone who is so excited about a certain topic that they will spend their time and money on information about it. Now that we know what we’re looking for, let’s talk about how to find them…
- Look at magazine racks. This is an often overlooked, yet extremely simple way to find niches that people are interested in. Because it’s becoming harder and harder to keep print periodicals profitable these days, if you see a magazine on the shelves, you know it’s making money. And that means there are lots of people interested in it. This is a very good indication that it’s a good niche for you to go into.
- Pay attention throughout the day in your regular activities. See what people are talking about on the radio, TV, at parties, in public, etc. If people are talking about something, they probably want to know more about it. And this means there may be a market for information about it.
- Don’t forget about clubs and organizations. If there are enough people to to build a club, there are certainly enough people to start a membership site on the same topic. Conventions are expensive to hold and attend, so if one if going on that’s another strong indication of a good niche to go into with your membership website.
- And of course there are all the things you have an interest in, too! If you’re interested in something, it’s highly likely others are, too. Making money is fun and it’s even more fun if you can do it in a niche you’re excited about.
- Another fantastic way to discover what people are interest in is Google Trends. Google Trends tells you the most popular current search terms. These are the things people are actively searching for in Google. They’re searching because they want information. Hot topics that people are excited about make great niches for your membership website.
Second – Analyze the “commerciality”
OK, so you’ve got a great idea for your niche membership business with lots of fanatics. But will they actually spend money? An easy way to determine this is to figure out if anyone else is making money in this niche.
Here’s a punch list for figuring out if anyone’s making money in your niche:
- Are there blogs or forums in this niche? Take the name of your niche and buy generic amoxil search for “niche name blog” & “niche name forum” in Google to see if there is an active group of people talking about and interested in the niche. This lets you know there amoxil clavulin is a market (a group of people actively interested in the niche.)
- See if other people are creating and selling product in this niche by searching in Google Shopping, ebay and Amazon. It’s a good sign if there are because it tells you people are making money here.
- Watch Google Adwords for a period of time and look for ads the run again and again. Adwords ads are expensive, so people only run them repeatedly if they are profitable. And to be profitable, they have to be selling products and making money.
Finally – Figure out your barrier to entry
After figuring out a good niche and determining that other people are making money in it, the last thing to do is decide if you will be able to enter the market. Here’s how to make this determination:
- Product types. What kind of products are being sold in the niche? You’re looking for a niche that sells info products. The easiest membership website to create and maintain are information membership sites.
- Competition. How many other people are trying to sell to this market? You want to start in a market that’s not completely saturated with competitors.
- Compare the size of the market versus the number of competitors. Some competition is a good sign – just make sure the market is big enough for you to join in.
- Market readiness. Are people ready to buy? Are the receptive to marketing messages? Every market is different. Sometimes people are looking for information and are ready to pay for it right now. And sometimes it takes weeks, months or even years for them to make the decision to purchase.
In Summary
So far, we’ve talked about exactly what it takes to pick a great niche: One with a hungry crowd of fanatics, who are ready to spend money on information about their topic. And you’ve determined your barrier to entry is small enough to give it a go. If you’ve followed along with these steps you’re success in practically guaranteed. The only thing left to cover is exactly how to run your membership business…
![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
Suggested Reading
Related posts:
