Lesson Tag: niche examples

3.6 Good Niche, Bad Niche — A Breakdown of Multiple Example Niches (AF)

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In this video I discuss:

  • Multiple examples of good niches vs. bad niches
  • Examples and detailed explanations of niches that are too broad
  • Examples and detailed explanations of niches that are too narrow
  • Examples of good niches, and detailed explanations as to why they’re good options
  • A recap of what makes good niches vs. bad niches based on the examples shared

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3.6 Transcript Below

Alright, let’s play us some Good Niche, Bad Niche.

At the end of the day, I’m probably a little bit too excited about this lesson but it’s something I’ve never seen anyone teach and I’ve never seen anyone go through. And at the end of the day, when we’re talking about really complex concepts that are very difficult to discuss and teach in the abstract, the best way to do it is to give some concrete examples and rock through them together.

So if you feel like you’ve got niche selection down really well so far, you know what, just go ahead and skip this video. If everything has made sense to you, you can go straight into Video 3.7.

But I think the vast majority of people that are going through this training, I think it’s more normal and more expected for you to be kind of lost and swimming in a lot of confusion and being a little bit overwhelmed. I would expect that at this point, frankly. Remember it’s perfectly natural, it’s a normal reaction to learning a whole bunch of new stuff. But I think this is going to be very helpful if you find yourself in that situation. I think that is a very normal situation to find yourself in given everything we’ve been learning and discussing.

So if you feel like you’ve got niche selection down, go ahead and wrap up, watch Video 3.7 and move into Section 4. But if you feel like it would be helpful to walk through some examples step-by-step, that’s what we’re doing here. And I just named it Good Niche, Bad Niche because it was fun.

So in this particular video, if you find me casting my eyes off camera to the right, it’s because I’ve got an extra monitor over here. Before starting the lesson, I typed up a lot of notes for each one of these niches so forgive me if I’m not making as much eye contact as I usually do. This is the first lesson where I really wanted to make sure that I didn’t miss certain things as we discuss these niches.

So the first niche is: women’s clothing. Is that a good niche or is that a bad niche based on everything we’ve learned so far? Give you a second? Alright, you’ve had long enough.

That unfortunately is a bad niche and there are several reasons why. But the main thing it ties back to is I think in Section 3.2 – at Lesson 3.2 – we talked about what’s too broad and what’s too narrow. And this is absolutely too broad of a niche. Even something more along the lines of women’s dresses which is another step down, makes it a little bit more narrow – even that wouldn’t be a very good niche.

And the reason that both of these would be kind of invalid niche ideas – besides being a little bit broad for women’s clothing – is because the vast majority of products you could sell under each one of those kinds of umbrellas would be less than $50 and a low-percentage commission. You’re not going to find a whole bunch of high-percentage commission digital products in the women’s clothing and women’s dresses niches.

So at the end of the day, the way you could kind of craft this into a more workable idea, better examples of good niches potentially in this industry would be (let’s see) women’s clothing about exercise or women’s clothing (Just let me take a step back. Jumped in and said something that didn’t make any sense). Women’s clothing for exercise or a blog about affordable fashion tips. You know, something that talked about affordable fashion, talked about how to shop at thrift stores, how to shop online to find really good clothing and really good deals – basically how to be a deal-hunter for clothing in women’s niche.

And you may say, “Well Ian, that’s going to be even less than $50 per commission or less than $50 per product.” But at the end of the day, if you create a bunch of content about how to shop affordably, how to find the best deals, how to piece together really kind of nice outfits for as cheaply as possible, you can have a section on your website that’s women’s outfits that are less than $100 or less than $150 or less than $200 that are total outfits… that they bought the hat, they bought the shirt, they bought the pants, they bought the shoes… and you could commission on each one of those and your total commission profit may be something like $10 or $15. So still kind of on the low end but definitely workable.

And the same thing for women’s exercise (or excuse me) clothing for exercise. Like for example, my wife just recently had to figure out like how to evaluate running shoes. She’s been running a lot, she wants to make sure to protect her joints and make sure she’s not going to be aching when she’s older because she didn’t buy good running shoes.

So she was doing all the research on that and there’s so much information that you can cover and write about. I mean, you could have an entire section on the website for women’s exercise clothing and accessories that’s just all about running shoes and what makes a good running shoe, why a good running shoe is so important, and you could just kind of carve yourself out as an authority when it comes to running shoes and shoes for training.

And then that’s before you get into all different kinds of apparel in the women’s exercise niche and that could be… a lot of those are very expensive products… and they could, again, very easily exceed the $50 threshold I’ve mentioned. And again, it’s going to be on the lower end of the commissions but it’s workable. It’s totally workable.

So these niches are much easier to carve your spot out due to having kind of a more targeted smaller audience and their behavior once they get to your site is going to be more straightforward and predictable. And at the end of the day, the more your audience as a whole has predictable tendencies, the easier it is to monetize.

If you’re pulling from all these different things and all these different… even though they’re technically all in the same niche… if you’re pulling a bunch of different audiences and trying to funnel them through the same funnel but they all have very different behaviors that aren’t easy to predict, it could make it very difficult to monetize something as well as possible.

So we’ll talk about that when we get into conversion optimization and we get into keyword selection extensively. But for now, just know basically that end of the day, women’s clothing is not a good niche and those are the reasons why: it’s too broad, the commissions wouldn’t be high enough, and it’s just going to be something that’s really, really hard to specialize in and carve yourself out as a credible authority within that niche.

We talked about this one heads on so you should know the example to men’s fitness or you should know the answer to the men’s fitness example, right? Good niche or bad niche?

That’s a bad niche. That’s another bad niche. Again, just like women’s clothing, it’s too broad. This is an entire industry. It’s not a niche.

Better ideas than men’s fitness are running a website about how to build muscle or how to gain weight. There are a lot of guys… I found myself in that category for a long time. As I got older, my metabolism slowed down and it is much easier for me to gain weight unfortunately now but at the same time fortunately because it makes it easier to build muscle.

So that could be a much better niche than men’s fitness as a whole. Workout supplements for men – we talked about that pretty extensively throughout this section – best home workouts for men, home fitness equipment would be another one, home gym equipment would be another much better niche than men’s fitness as a whole. Remember that’s an industry. It’s not a niche.

So hopefully that clarifies that and kind of shows you, “Hey, how do I go from something that is way too broad and turn it into something that’s workable,” while also not boxing yourself into something that’s too narrow.

Alright, this one’s very specific which is probably a sign of which way it swings. Dachshund – which if you’re not familiar with dachshunds, that’s a wiener dog also known as a sausage dog. You know, the kind of long I find very cute dogs. I’d say that because we own three of them because I just want to demonstrate to the world what a man I was. So dachshund discectomies. A discectomy is where they remove a disc in the spine. It’s a surgical procedure. Again, this is specific enough that you should have a probably good idea of good niche, bad niche. So this I would say is a very good niche.

And I know about this one personally. One of our dachshunds, she blew a disc in her back and over the course of several days… it was actually very, very sad… this was about a year and a half ago… it was very, very sad. She slowly… fortunately, we had her under vet attention by this point and could call the vet and say, “When do we take her in for surgery? When do we take her in for surgery?” But she slowly lost function in her back legs. Her back legs slowly – over the course of about three days – started to go paralyzed because the fluid from her disc was putting so much pressure on her spinal cord that she was becoming unable to use her legs.

And if that had stayed that way for a long period of time, they needed to get in and relieve that pressure surgically because otherwise she could’ve become permanently paralyzed, and even worse, something called “spinal death” can take place where that portion of the spinal cord dies and essentially the dog just needs to be put down.

So for the dog lovers out there, I’m sure you are feeling this one. We did, too. We felt it in a lot of ways. It was very, very difficult emotionally because personally our dogs are members of our family. But it was also difficult financially because it cost about $5,500 once it was all send on – maybe even closer to $6,000 – to have that whole procedure done and it was just a nightmare. And the recovery was so difficult.

So again, this one hits close to home. This is a perfect example of something that you encounter in life and you’re like, “Man, that would be a really good niche.”

And the reason… there are a lot of reasons that this is a really good niche… you’re dealing with a very passionate audience that’s facing a very difficult problem. Remember in one of the lessons we talked about, those being kind of factors for a really good niche potentially.

There’s so much to write about in this industry. If you had an experience at first-hand you may not think so… You may think, “Oh, I can write like three articles about dachshund discectomies.” But that’s not true at all. You could write about intervertebral disc disease which is a disease that all dachshunds have and I don’t think most dachshund owners know about until they kind of stare this face to face and encounter it.

I know that the audience is fairly large because the one vet clinic that we went to in the suburb of Austin that we live in they said they see typically at least one of these a day. So if you think about that times every vet hospital across the United States alone – let alone the world – you get some pretty high numbers, right? That has to be a pretty sizable audience.

So writing articles about intervertebral disc disease, what it is, details of the operation and the costs of the operation, how to finance the operation to make it affordable, the recovery aspects – there’s so much that goes into it.

We have to for the rest of… this dog’s name is Marcy and she’s my daddy’s girl. She’s the one that follows me around everywhere. We have three, like I said. She is the one that follows me around everywhere. She’s in the room with me right now and she is… most of the time I’m recording and the other ones are… I’m gushing now.

But Marcie for the rest of her life cannot jump. We have to limit how much she jumps because there’s a high risk for that. Which means we have to have stairs all over the house: we have stairs that lead up to our couch, we have stairs that lead up to the recliners in my office, we have a ramp that leads up to the bed – so there are all different kinds of things to write about.

So just to give an example, there’s all kinds of content you could write about so many different subtopics within the topics I’ve mentioned and ultimately this could be somewhat of a challenge to monetize. But at the end of the day, there would be several options if you got enough traction and started getting the traffic.

You could write about pet insurance, right? Like I would be a prime candidate for… it may be too late for Marcy… it may be really difficult to get pet insurance for her. But for her two sisters that are also dachshunds… because a lot of households that own one dachshund own another or another two. Which is ridiculous, I know. Whatever. It’s a mad house. But it wouldn’t be a hard sell to say, “Hey, you should really consider pet insurance for your other dachshunds so you never go through this again.” And you could get commissioned on that pet insurance.

One of the problems we encountered was my wife crafted this… we had to have a sling for a while because after the surgery, her back legs gained function over time so we had to do physical therapy and we had to carry her back legs around in this little sling that had these handles. It was almost like a plastic grocery bag and we had to support her back legs while she used her front paws. And it was just so ridiculous looking back.

But my wife, she wanted one that was more comfortable and one that didn’t look as sterile as the one that the vet clinic gave us and she couldn’t find anything online. So she ended up sewing our dog a custom sling that was more comfortable and was cuter because it was from a fabric that my wife chose.

And again, when you’re dealing with a very passionate audience that’s emotionally distraught, that is a prime purchase opportunity. So you could ultimately either start off sewing those yourself or just… if you got enough traffic and you saw the potential there, you got a large enough audience, you could launch a Kickstarter to manufacture these designer comfortable slings for people who had dogs that needed the sling when they got home from the operation.

And there’s also the opportunity for like an eBook – like a $7 or $9 or $15 eBook that just walks people through the path to recovery, what to expect and just kind of holds your hand through all of the difficult things on that journey.

So I talked enough about dachshund discectomies, but of course, I wanted to kind of walk you through the anatomy of why this is a good niche.

Okay, moving on.

Oh, and by the way, if you’re like, “How do I do physical products?” That’s something that I’m going to teach down the road… I fully intend to teach down the road. It’s one of the frequently overlooked monetization opportunities because it can be really difficult and intimidating. But at the end of the day, if you’re getting a bunch of traffic and that’s your only way to monetize it really well… you can figure it out… yeah, you probably are because it could take your site from being worth $1000 a month to being worth $10,000 or $15,000 a month if you did it correctly.

So again, is it difficult to crack? Yes. Is it a lot to learn? Yes. Is it worth an extra $9,000 to $14,000 a month? Hell, yes!

So we’ll talk about that much later in the training because we’re getting pretty advanced to that point. There’s a lot we need to cover between now and then. But just know it’s doable and it’s an option.

Next niche: drone reviews. Is this a good niche or is this a bad niche?

For those of you that don’t know, drones are those kind of miniature helicopters that carry cameras and you can use them to survey, you can use them to shoot real estate footage, and a lot of people just use them for hobbies and use them for fun.

So drone reviews, is that a good niche or is that a bad niche? (I’ve played the Jeopardy music) So that is a good niche… with some challenges. This bumps up against those challenges that we talked about when we talked about technology: can you afford to buy all of the different drones that you’re going to be talking about? Probably not.

But at the end of the day, this is a great niche with high cost purchases. It’s just going to be so much challenging to add value. So if you can afford to buy all of the drones for review, you need to come up with a unique angle to break into this saturated niche where you wouldn’t need first-hand experience or video footage to provide that value to your audience.

So we talked about this earlier, you know, kind of a buying guide for drones that could be broken up into multiple sections: what you’re looking for, what you need to look out for, what components are best, what the different metrics and specs mean when you’re comparing drones side-by-side. If you’re buying drones as a gift, you could create a drone gift guide to guide people to the absolute best drones based on whoever they were buying for – whether it be a friend or a spouse or a child – you know, “These are the best options.”

So there are definitely opportunities that don’t require you to buy all of the drones that you would be studying and looking at. There are definitely opportunities to add value there, you just have to research the industry, research the competition, look at what everyone’s doing, and find your in.

So that is a good niche with some challenges. At the end of the day, a lot of those are going to be high dollar purchases – sometimes ranging up into several hundred dollars each. And your commission on those – even if your commission percentage were only 3% or 5% – could still be $20, $30, $40 for each one that you sell. So good niche with some challenges.

Alright, here’s an interesting one because it’s tricky. So best phone cases. What do you think? You think that’s a good niche or a bad niche?

That is a bad niche, unfortunately. That one’s a little bit tricky, right? Because in one of the videos, I said “the best pretty much anything” is going to be good to write about. This is an exception because of a more important rule – which is a couple of more important rules.

One: because it’s a low dollar product that has a low percentage commission – typically speaking. I know there are high dollar phone cases that sometimes range up to a hundred dollars, but they are few and far between. So that’s one reason it’s not the best niche to enter and it’s a bad niche.

But another reason is that it’s too narrow. There’s not a whole lot of content you can create for phone cases. There are not a whole lot of technical specs that need broken down in articles. And on top of that, you’re going to find yourself wanting to gauge your eyes out if you have to write article after article after article about these individual phone cases – all their different features and find a unique way to talk about this one and talk in a unique way or find a unique way to talk about this one. It’s just not going to be worth it in the long run. So even if you could find enough to write about, the commissions just aren’t going to be there.

So how could you improve this? How could you turn this into a more workable niche?

Well obviously, we need to broaden out. We need to take it from something too narrow and kind of broaden out. So you could create a more holistic website on phone protection and phone replacement and phone repairs. Those could be individual niche sites or those could really be a one niche site. And you kind of tackle each one, one by one. Remember, divide and conquer.

So you could write about the most protective phone cases for impact, the most protective phone cases for water… and then, you’re cutting out a lot of those phone cases that cost like $10 or $20 and have way too low of commissions… and now, you’re carving out a niche where most phone cases are going to be $30, $50, up to $100+ because you’re looking at very specific pains and very difficult to solve pains.

And again, people… if they’re looking for the most waterproof case… if they’re looking for the phone case that is most resistant to impact… they’re probably looking to make a purchase very soon. So if you’re the person that gives them the information and links them to the best purchase, they’re probably going to use your link and you’re going to get commissioned on it.

So another thing you could do on a more holistic site, you could talk about different phone insurance options, whether you buy from your carrier or you buy from a third party… and if you refer them to a third party, there’s probably a pretty handsome commission involved there.

You could talk about the best options for screen repair, you could talk about all different kinds of options there – that could be several articles. You could talk about what to do if you drop your phone in water, how to be prepared just in case you ever dropped your phone in water… and on top of all kinds of other benefits, that is the type of content that could go viral. People might share it if you do a really good job with it. How to be prepared for the day you drop your phone in water because it’s going to happen to most of us at some point. So that’s the kind of thing that a lot of people could share, a lot of people could really engage in.

And at the end of the day, this particular niche, if you broaden it out to something more holistic like I mentioned (what did I say?) phone protection and replacement options… if you broaden it out to something along those lines, you’re going to have a lot of different options for monetization. And another way to monetize as I mentioned in one of the last examples, you could ultimately use this as a pushing off point, as a foundation for launching your own phone lines (excuse me, that’s confusing)… you own line of phone cases. So you could do that through Kickstarter or you could just manufacture based on the gaps you see and you know like there’s a lot of opportunity here.

So you could launch your own crowdfundings campaign. That’s something else I want to cover with this training. But again, that’s much more advance than down the road. We’ve got a lot more to cover between now and then. You should just know that it’s an option that most people don’t traditionally just talk about when they talk about how to monetize in this industry.

Next niche. Good niche, bad niche? And I think we only have a couple more. I think this is the last one or second to the last one. So tattoo removal. Another fairly specific niche. Do you think that is a good niche or a bad niche? That is a good niche in my opinion.

So there is a lot of content to write about. You probably wouldn’t know it if you haven’t gone through tattoo removal yourself. Believe it or not – I know a lot of people find it very hard to believe – but I have a tattoo. I have a very large tattoo and I am like 11 treatments in… 12 treatments in. It’s a very painful process. But I found as I’ve gone through it myself that there is a lot to write about especially for a really large tattoo.

So there’s so much to write about different lasers, different aspects of recovery, everything from pain management down to which creams you should use – because essentially what’s happening when you’re getting a tattoo removed is you’re experiencing a lot of burning to your skin. Your skin reacts as though it was burned because that’s a side effect of the lasers. And so, you have to take care of it very specifically.

And then after you do that, you have these adhesive… from three days, I’m having a fully-dressed wound that may have been blistered and may have been bloody – all different kinds of things. It’s not a pretty process. Now you’ve got to figure out how to get out all that freakin’ adhesive from the tape over the course of three days off of your body.

I’ve had to figure all of these things out and I can tell someone how to do all of these things. So this actually could be a very good niche. Lots to write about. Like I said, a lot to write about.

And it’s a good way to go into a niche that doesn’t really have a whole lot of competition and it would be really, really easy to add a lot of value. The other thing is that it’s a high barrier to entry. My personal tattoo removal sessions – and these aren’t even as expensive as it gets – are about $300 a pop. So a lot of people aren’t going to have it done but a lot of people are going to be considering having it done.

And I think it’s the combination when I talk about high barrier to entry, how many people are going to have it done that also get into internet business and consider pursuing that as a niche. That’s where you really carve down the odds of how many people are going to be in that niche. It’s just not going to be super high competition niche.

It’s a very motivated niche if you want to have a tattoo removed. It could be somewhat personal – which taps into something we talked about in one of the previous lessons – but it’s also a very difficult problem that a lot of people that want to have a tattoo removed face. And so again, that makes for a very motivated buying audience.

So ultimately, the most difficult challenge with this niche is not going to be how to add value, it’s not going to be how to overcome the competition, it’s not going to be not having enough to write about. The challenge for this particular niche is going to be how to monetize.

But again, if you’re dealing with a buying audience, you will always have options for monetization. It’s easy to fall into the trap of saying any niche can be monetized. Technically speaking, that’s true. But realistically… you know, you can monetize a recipe site, you just need so much traffic to make a full-time living from. It’s really difficult. So I’m trying to help you avoid that, of course.

But if you did get the traffic, there would be a lot of different options. Just the ones that came to me off the top of my head would be an eBook – again – somewhere between $10 and $20 maybe a little bit less than $10 where you address all of those problems up front.

Again, it was a long journey to find out everything I needed to find out for tattoo removal and I go to a really good clinic that gave me a lot of information up front. But that still didn’t help me fully with pain recovery options. That still didn’t help me with how to get the freakin’ adhesive off of my body after I’ve had a fully-dressed wound for three days because there’s just so much medical tape involved that there’s all these leftover adhesive and it’s really, really difficult. I had to look that up. So putting all of that information in one place and selling it as an eBook could be an excellent way to monetize.

And ultimately, I think if you’ve got enough traffic that you got enough traction in the niche, the best way to monetize this would be to sell leads to tattoo removal clinics – which is, again, kind of a difficult thing to think about but it’s also something that’s very doable. You would have to call and email clinics around the United States and potentially around the world, but if you could find one in every major city and then you could have a programmer write a script on your website based on someone’s location (This is not a difficult thing to do. It wouldn’t cost a whole lot of money to have done) that changes which clinic they’re referred to. And then you had a phone number that tracked you know, “Okay, I sent them this lead,” which is how lead tracking is done. Again, something that I’d like to talk more about in future training. But there’s actually a lot of information about this. There’s a whole sect of internet marketing – a whole industry or subculture in internet marketing – that is how to sell leads and there’s a lot of really good information there.

So again, at the end of the day, if it’s the difference between your site making $1,000 and your site making $15,000 a month, are you going to figure out how to crack it? Heck yeah because a lot of those leads could be worth $5, $10, $20 each. Because the clinic I go to make several thousand dollars or several hundred dollars at least off of every patient. I just so happened to have a very large tattoo where they’re probably going to profit somewhere between $1500, $2000, maybe more dollars by the time my tattoo is completely removed. Probably closer to $3000 I would assume.

So that’s a really high value lead. So that’s probably the best… that’s probably like the ultimate vision. It’s going to take a long time to get there. There’s a lot of traffic involved and then there’s a lot of technical skill and implementation involved. But again, at the end of the day, it’s very possible you’re dealing with a buying audience… a very motivated audience… it’s possible to make a lot of money off of that audience in the long run. You just have to get creative. There are always options. You just have to get creative. So again that comes back to working in a buying niche.

So we’ve gone through enough examples, I think. I think that gives you enough kind of angles to think about and kind of make all of these concrete so that you can evaluate your own niches really accurately.

The key takeaways, though. I always want to kind of boil it down to the simplest form so that it’s as easy to walk away with and deal with those feelings of being overwhelmed.

A buying audience isn’t enough as we discussed, right? We’ve kind of covered that over this training. Initially, you heard buying audience. “Okay,” you may have thought. “If I do this, I’ve got it right.” And there are a lot of exceptions to that. You still need to be careful not go too narrow or too broad and you still need large enough commissions for it to make sense. Because again, are you likely to get hundreds of thousands or millions of visitors a month? Not remotely as likely as you are to get 1000 visitors a day or 2000 or even 500 visitors a day. So those are the economics we talked about in a previous lesson. We want to keep those skewed in our favor and working for us rather than working against us. So a buying audience is not enough.

You want to make sure that you can write a lot of content surrounding the topic if you can afford to buy all of the products for reviews. So again, don’t fall into that trap where it’s just, “Oh, I’m going to write drone reviews,” and then you find out, “Oh crap, I can’t add value in this niche because I can’t get my hands on the products.” Then you need to find a different way to write content surrounding that industry and surrounding that niche and those purchase decisions and write about those and produce really high quality content and add value there instead.

If you line up all of the above on this slide with a buying audience, there will be a way to monetize. So if you narrow it down to a niche that isn’t too large or too narrow and you can figure out how to add value in that niche and it’s a buying audience that makes purchases – that is likely to make a purchase to solve their pain point or answer their question – there will be a way to monetize that.

And I talked about some really unique ones in this video from selling leads to tattoo removal clinics around the United States to manufacturing your own phone cases. It’s going to be possible. You don’t need to concern yourself with exactly how you’re going to do it right now. There’s so much in between here and there that’s important. But no, if these factors line up, there is going to be a way to make a very good amount of money from that niche site. You just may have to get a little bit creative and you may have to create it yourself.

So that’s it for Good Niche, Bad Niche. Hopefully, it helped more than it hurt. Again, made a lot of these complex concepts that we’ve discussed much more concrete and easier to understand. And hopefully, it equipped you with kind of a Swiss Army knife tool set to evaluate your own niche ideas by.

But as always, if you have questions… if you’re still going, “Man, I don’t know if this is a good niche,” post it in the Facebook group. Let’s take a look at it. Let’s kind of dissect it and talk about it as a community.

I know that can be intimidating because you might feel like someone’s going to compete with you. But at the same time, if it sets you up for success or helps you completely roll out a niche and saves you months in the process, is that a good risk to reward ratio? I would absolutely say so.

And the odds are, people aren’t going to steal your niche. Unfortunately, most of us are just tied up. You know people have treated me in the past like, “I can’t tell this guy my niche.” I don’t have time to steal anyone’s niche, guys. I’m involved in enough niches myself and enough different projects and making money – finding different ways to monetize my existing sites – there’s just no chance that I’m going to steal anybody’s niche. There are enough of them out there that nobody needs to go stealing other people’s niches.

And just while we’re on the topic, if you see someone ballsy enough and putting enough trust in the community to share their niche to workshop it, don’t steal their niche. Don’t be that person. Come up with your own niche. There are plenty of them out there. It can be inspiring, it can be helpful, it can be cool to think about like, “Oh hey, that’s a good niche! That’s a good example! I need to come up with something like that for myself.” But don’t steal other people’s niches – it’s just a dick thing to do.

So, if you want to workshop… if you’re not sure… if you’ve gone through all these and you’re going, “Man, I still don’t know if it’s a good enough niche,” we’re going to go through one more video where we wrap up and really get down, revisit a lot of these concepts and nail them down – really make them solid.

But if you want to post it to the Facebook group, of course, it’s free for registered users here. So, registered members, feel free to post to the Facebook group and we’ll all work on it together, alright?

So that’s that. Until next time, I’ll see you on the next video. And if not, I will see you in the Facebook group between now and then. Alright? So I’ll see you guys there.

3.3 Are You Dealing with a “Buying Audience”? (AF)

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In this video I discuss:

  • What a “buying audience” is and why it’s necessary when picking a niche
  • Examples of niches that DON’T have a buying audience, and why that’s so dangerous
  • Multiple examples of “buying” audiences, and rules-of-thumb for all niches
  • How to make money in a buying audience every step of the way, NOT simply for the ultimate topic they’re researching
  • A note about review-based websites and who should pursue them vs. who shouldn’t

Please direct all questions and requests for support to the FIMP Facebook group (free for registered members).

3.3 Transcript Below

Alright, let’s keep this train a-choo-chooin’!

I want to talk about now something incredibly important – and I know I’ve said that about a lot of things in this section – but there are really a lot of important things to cover in niche discovery and niche selection.

So what we’re going to talk about in this lesson in great detail is: What is a “buying audience”?

Now you may have heard of this before or something similar. And you may feel that you have a pretty good idea what this is. But just in case, make sure you watch all of these videos. It should be I think a fairly brief one compared to several of the other lessons in this section – certainly the last couple.

So first, of course, we want to talk about what a buying audience is. And a buying audience is a pretty simple concept overall. It’s not hard to understand. It’s not hard to comprehend or apply to your business. But it is absolutely detrimental if you do not catch it and you don’t think about it. I mean you could not think about it and get lucky at the niche selection stage – happens all the time which is awesome, right? But I want to really put a spotlight on it and make sure that you do not miss this because it really can be detrimental if you don’t catch this when you’re picking your niche.

So, a buying audience. The concept of a buying audience is basically… the people that are reading your articles come into your website, are they likely to make a purchase to answer the questions they have or the pain points that they’re facing?

So if someone comes to your website and they read your article where you’re addressing one of their pain points or you’re answering a question that they have, are they likely to make a purchase to help answer or to help solve that pain point? So we’ll talk about what this means more in depth in the rest of this video, but at its core, this is what this is.

And I can’t… again… just can’t emphasize how important it is that you kind grab a hold of this and you really keep it in mind any time you’re picking a niche. Because you can get traffic to a site… this is where I’ve said over and over again: if you get traffic to a site, you can turn that traffic into money. And you can turn that money into more money.

This is the exception – I’ve talked about how there are exceptions – if you’re not dealing with a buying audience, that is the exception.

So let’s talk a little bit more. Let’s dig in to what this all means and how to make sure you avoid this kind of pitfall in niche selection.

I know it may come off a little bit harsh, but freeloaders in this industry are, again, just detrimental. They will suck you dry and you’ll see your analytics numbers – your number of visitors – going up and up and up but your income would not increase with that if you’re dealing with a freeloading audience.

So there are a ton of niches out there where people will almost never make a purchase based on your content. I see people that say, “Oh I want to start a song lyric website.” Or “I want to start a website with a bunch of quotes or daily blurbs or daily inspiration.” “I want to start a recipe site.” All of these things are niches where people are looking to gorge on free information and then leave.

And if you think about this from your own perspective when you were browsing the web – when you were looking for these things – you were not in a mindset that you would make a purchase to satisfy, “What are those song lyrics? Oh, I’m going to buy the music sheet!” It just doesn’t work that way.

So again, if you think about where you are at… if you were looking up song lyrics or motivational quotes or motivational images or recipes… all of them are on an even keel level playing field. Those are all the exact same kind of site we want to avoid. Because again, they just attract a bunch of freeloaders.

So the reason these are so difficult to monetize is because they need colossal visitor numbers to be profitable. We’ve talked about this earlier in the training, too. The only way to really monetize these sites consistently at least is to put some ads on them.

So you would like install Google AdSense and then you’re maybe making 50 cents to a dollar per click. And again, you’re maybe getting one to three percent click through rate and that means you need hundreds of thousands – if not millions – of visitors to hit a full-time income… and that’s every month… to hit a full-time income in this industry.

So it’s much less likely just based on economics of this industry that there are going to be much fewer websites online with a ton of traffic and a lot more websites online with a modest amount of traffic – you know, somewhere between 500 and 1,000 visitors a day, maybe 5,000 visitors per day. That’s much more achievable than trying to get hundreds of thousands of visitors every single day.

So we’ll again really dig in to this when we dig into keyword research but just to introduce this concept now. So if it doesn’t really tie in to anything solid in your mind, don’t worry about it, we’ll get to it in a couple of sections. But the keywords you create content for on your site should be search terms that people use when trying to solve a pain point or answer a question that will ultimately result in a purchase.

So we’ll talk about some examples here.

If people were searching for terms related to “athlete’s foot”, they’re very likely looking to make a purchase to help solve that problem or ease that pain point. Sometimes multiple purchases. Same would be true if like “ringworm” which is… I guess not everybody knows… but ringworm is a type of fungus. It looks like a worm under the skin – that’s how it got its name – but it’s really just a patch of fungus on the skin. So, same thing.

“The best” pretty much anything. “The best vacuums”, “the best robot vacuums”, “the best supplements for working out” – pretty much “the best” anything, especially if you’re going to apply it to multiple kind of product categories within a niche. You know, “the best protein shake”, “the best weight gainer”, “the best pre-workout supplement”. So a lot of those are going to be keywords that you could write about and very likely be attracting purchasers. A lot of people that are looking for content like that are looking to make a purchase to answer that question or solve their pain point.

This versus that. Bagless versus bag vacuum cleaners. That’s someone that’s not super late in the buying cycle. That’s not someone as late in the buying cycle as someone searching a model number for a Dyson or reviews for a Dyson. So the keyword changes as someone goes through the buying cycle.

So at a really high level, they may be searching like “vacuum cleaners” or “vacuum cleaner comparisons”. And the deeper in the buying cycle that you catch them, the more purchase intent that they have and the more likely they are to convert to a commission through your site if you give them a really content.

So blank versus blank – whether comparing two different models – is about halfway through the buying cycle which is a good place to catch someone because you can carry them from there all of the way through the purchase if you have all of that authoritative and helpful content on your site.

But another example – getting even deeper in the buying cycle like I said – would be looking up a certain model number or looking up a model number plus the words “review”. That means somebody is probably getting really close. They’ve kind of pinpointed that product and they’ve said, “I really want to buy this. I just want to double-check some things.”

So any number of those make good search terms, because again, these people are looking to make a purchase to solve their current pain point.

Yeah, I just mentioned that product-related searches. I mentioned such and such review or the model number of something – pretty much anything that’s related to a product is probably someone that is looking to make a purchase or do a research but they’re just double-checking some things before they make that purchase.

Most problems are good search terms to pick and most of them are going to be looking… just generally speaking, if someone is facing a problem, they’re probably looking to make a purchase to answer their question that they’re facing with that problem or just flat out solve their pain point that is their problem.

So particularly private problems. The more private, the better. Because it’s less likely that they’re going to talk to their peers about it, post about it on social media – even seek medical help. People will oftentimes search online long before they do any of those things for private problems.

So even better, athlete’s foot is actually a decent example. Ringworm is another decent example that people aren’t going to post on Facebook like, “How do I get rid of ringworm?” or “Oh I got the athlete’s foot, how do I get rid of this? My feet burn!” People don’t post that on… well, some people might… but most people don’t post that on social media.

So they are kind of in an urgent situation a lot of the time when they’re searching for private problems specifically. But most problems – generally speaking – are really, really good keywords to pick.

And again, we’ll get really in depth with keyword research, but I want you to keep all of this in mind because this is what ties kind of your niche to a buying audience. It’s the keywords they’re using in between.

If you pick the wrong keywords… and again we’ll talk about this a lot when we start talking about keywords… if you pick the wrong keywords, you could get a lot of traffic and not make a whole lot of money. So that’s why I work digging into this so deeply.

So any hard to solve problem is a really good kind of search term to choose as well. And any emotionally-charged question or problem – something dealing with a relationship, something dealing with their dog or their beloved pet being in pain, or facing issues, or facing something complex and difficult – all of those are really, really good.

So kind of just tuck that away – you don’t need to memorize this list right now – I will probably reference it again when we get into the keywords training and picking good keywords, but I just want to talk to you right now about… all of these are – generally speaking – good terms for talking to a buying audience. And the more you talk to buying audiences, the more money you’re likely to make. So I just think that it’s impossible to teach this part well without talking about keywords even though keywords are a little bit further down the road.

So the other thing to realize is it’s not just a final solution. And what I mean that is you don’t just have to make money or write articles about the very last step. You know: the end result.

Like if someone is looking to renovate a house, that doesn’t mean that you have to sell them contracts or services to solve their problems. It’s important that you realize that because there’s a lot of opportunities in between where they are and their final solution that you could write content on and potentially make money on – make affiliate commissions on.

So you can solve several of their problems with tools and kind of ingenious workarounds kind of like if they’re looking to renovate something, you may be able to point them to a D.I.Y. solution or walk them through a do-it-yourself solution that would mitigate and completely solve their problem.

And maybe you recommend some supplies on the way or something else but this could also… you know, someone looking to renovate their kitchen… that could be broken up into several different articles. You know, someone looking for the differences between certain types of cabinets, the differences between certain types of (what’s that word) countertops. I’m sorry, I had a brain fart. Countertops. Just the differences between so many different things. Appliances, stainless steel alliances versus black appliances versus white appliances. There’s all kind of content that you can create along the way.

So you’re talking about more and more content, again, to fill up your website position – use authority – and to kind of have more shelf space with Google, so to speak, where you have more articles out there. And the more articles you have out there, every piece of content you publish, you kind of increase your chances of getting more and more rankings.

The other thing to kind of tie this all together and simplify it is any complex purchase decision – generally speaking – with high price products is a pretty safe target.

So if you think about someone looking for air purifiers or someone looking at electric toothbrushes – I know that one personally because a few years ago I was on the market for electric toothbrushes and found a really helpful site that compared them all side by side and talked about the pros and cons and talked about the features you needed and the features you didn’t need, and this brand versus this brand – that’s excellent because some of those toothbrushes get up into like $300 each.

So anything where people are going to have a lot of questions along the way and you can write about all of those questions and really help them solve their pain – help them answer their questions – are going to be really, really good niches. The more of those kind of keywords that add up, the kind of the better that niche could be in the long run.

So one final note about buying audiences is review-based sites can be really great – really, really great – because again, someone that’s looking for reviews is typically fairly late stage in the process and they’re probably pretty close to a purchase.

But the other thing to know about review sites is if like say… I see people go all the time into like cellphone reviews or computer reviews. And unless you can buy the product yourself and shoot video footage and take your own pictures and experience it all first-hand, it can be very, very difficult to find a way to add more value than your competition when the only thing you can do to produce an article is read what your competition is saying and then write about it.

But one of the unique approaches to any tech industry is if you can afford to buy all of the different cellphones or if you can come up with a clever way to get your hands on them without buying them, you have a big advantage because there’s a kind of high barrier of entry to that niche. If you could just shoot video footage of all these different things, how many people can do that? Major journalistic outlets can do that and really establish reviewers, but not a whole lot of people can afford to get their hands on that stuff.

So even though it could be really expensive… at least I know in the United States, if you’re blogging about it (so really quick disclaimer: I am not an accountant or a CPA, but I work closely with mine with stuff like this – and you should work closely with yours if you’re doing something like this) but all of that would tax-deductible. I ran a niche site about virtual reality. I still have a niche site about virtual reality. And I bought all the different headsets as they were coming out, reviewed all of them in depth, got a lot of videos for them, ran a YouTube channel for it, and saw some really decent traction really early on because it was new and there weren’t many people out there buying all of the technology themselves.

So just keep that in mind. Remember that your success depends largely on your value offering. And if you can’t get your hands on these products and get first-hand experience and perspective, it could be very difficult to add extra value.

So just keep that in mind if those are niches you’re considering. That it’s not an impossible challenge to overcome, it’s just difficult and it’s probably better to work with a simpler niche early on. Or just work in a niche where you can afford to buy all the products – so that’s another kind of little asterisk. I spent a lot of time talking about technology which is typically really expensive but that’s not necessarily true for every niche you would create review-based sites on. So just keep that in mind.

So one of the ways to get into a niche that’s like a technology-related niche, rather than running a review site, you might pick a lot of pain points and questions surrounding cellphones, generally speaking… surrounding computers, generally speaking… if you’re talking about a really technological niche or any niche like luxury goods where… say, Louis Vuitton hand bags or women’s luxury hand bags in general.

If you were trying to go into that niche and you couldn’t afford to buy all the products, you could absolutely write content helping people, calling their attention to the most important things as they’re going through the buying cycle themselves and then you can still monetize that content really well.

So instead doing side-by-side cellphone or side-by-side computer reviews, you would do phone’s usability and features within certain phones and what to look out for in a phone. Typically speaking, writing articles about in general – and this would all again be fueled by keyword research which we’ll talk about later – but instead of comparing phones side-by-side in videos and stuff like that, you may compare usability and features side-by-side. You may write an article about phone usability overall and what makes a phone usable, what are the easiest to use cellphones – stuff like that.

Talking about computers, you could talk about what is RAM, what are processors, what’s the difference between AMD and Intel processors – just information that people are searching that is very, very difficult to find really good information on a lot of the time, and people that had technical computer shopping questions – stuff like that. So instead of comparing computer side-by-side, you would write about a lot of content throughout the buying cycle that someone goes through and you can still, that way, position yourself as a credible authority and refer people to purchases through your affiliate link without ever comparing one computer side-by-side with another computer.

So I hope that makes sense. I think I’ve made that fairly clear. I think it’s okay to move on now, but I just really, really want to emphasize that. It’s an important caveat for everything we’ve talked about so far.

So to give you kind of a really important rule of thumb – again, to break this down and kind of summarize it and just kind of stick that thing in your brain – that you should really hold on to: it’s easy to get entangled by all of these details… I know… and just kind of overwhelmed. But at the end of the day, if you remember the core of this lesson, your selected niche is going to be much, much more likely to be valid.

I know we discussed a lot of other things, but at the end of the day, if you remember: will your audience frequently make purchases to solve the pain points or answer the questions you’re writing about? If the answer to that is “YES” for a lot of the kind of content you’re envisioning for your website, and a lot of the pains that your audience is facing, a lot of the questions that they have, it’s distinctly possible that you have a much more valid niche than someone that didn’t think about this at all.

So, that’s it. That’s all there is about working with a buying niche… a buying audience. Really, really important lesson. Again, it’s not totally essential for success but the better you factor this in to your niche selection process, the more likely you are to succeed in the long run versus someone that needs a ton of traffic to make money through advertising. And again, my number one priority over and over again throughout this training is to set you up for success as well as I possibly can.

So, that’s that. We’re done talking about buying audiences for now.

As always, if you have any questions, feel free to post them on the Facebook group. It’s totally free for registered members and people that have registered for accounts for free. And I’ll see you there and I will also see you in the next video.

In the next lesson, we’re going to be talking about competition – something that I think people get really overwhelmed and intimidated by in this industry – and I’m going to tell you why that really isn’t the right instinct. It’s actually really, really good news.

So we’ll talk about that in the next video. I’ll see you there and I’ll talk to you then.

3.2 Broad Niches vs. Narrow Niches; What’s TOO Narrow? (AF)

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In this video I discuss:

  • The pros and cons of broad vs. narrow niches
  • Examples of niches that are way too broad and how to narrow them down
  • Discussing the topic of “Keyword ID” — how peoples identify themselves based on the terms they’re searching
  • When is narrow TOO narrow?
  • Examples of niches that are too narrow and how to fix them
  • Eliminating niche ideas from lesson 3.1 based on everything learned in this lesson

Please direct all questions and requests for support to the FIMP Facebook group (free for registered members).

3.2 Transcript Below

Okay, let’s dig in even deeper and let’s kind of talk about again something that I think is really important that most people don’t teach when they’re teaching niche selection. Because I will tell you this: if you don’t find yourself getting it, like you’re not just like, “Ah! I got it!” I wouldn’t be too concerned because it’s a difficult thing to talk about in the abstract. It’s something that you get a feel for more over time. It’s more of an art than a science. But everything I put in this video hopefully will make it more of a science than it has ever been before.

So we’re going to talk about what’s broad and narrow and what the pros and cons are and what’s too broad and what’s too narrow because you don’t want to hit either one of those extremes.

So, ‘dieting’… I hear people say this all the time, “I’ve picked dieting as my niche.” “I’ve picked fitness as my niche.” “I want to run a site about motivation.” Those aren’t niches. Those are entire industries. And I can understand that it’s easy to make those mistakes. I don’t want anybody to beat themselves up and think like, “Oh I’m so stupid!” That’s not the point. That’s not what I’m saying if you have written down any of those.

But those are not niches. Those are entire industries and they’re way too broad. You cannot go into this business and take on an entire industry and expect it to succeed or see any results at all within the next 12 months. So just know that those are industries, not niches.

So the broader you go… again, we don’t want to go as extreme as an entire industry, that is considered to be way too broad… but the broader you go, the longer it’s going to take to get traction. The more information you’re trying to cover – which is why we typically try to niche down at least in the beginning – the longer it’s going to take you to start getting search engine rankings longer, it’s going to take you to start getting consistent traffic to your website.

So I want to encourage you – if you’re going the search engine optimization (SEO) route – is you have to think about it from Google’s perspective. They’re the number one search engine we’re all trying to please. If you please them, typically you please all of the kind of underdogs in the industry. But the vast majority of a lot of our businesses are built on Google traffic and search engine optimization.

And you have to think about it: if you got someone writing about everything there is about men’s fitness, for example – we’ll talk about that more in depth later – but if they’re just writing everything men’s fitness… if they’re talking about accessories and gear, workout types, different exercises, different exercise programs, different shoes, different supplements, they’re talking about different celebrities within the industry, they’re talking about celebrity diets – all these stuff. If they’re trying to cover all of these topics, they’re going to write one article here, one article here, one article here, one article here, and it’s going to be very difficult for anyone – Google included – to recognize this site as an authority for that topic. And the more in authority you are in the topic, typically, the higher your search engine rankings are going to build over time.

So you compare that to someone that is only writing every single article they write is in one way or another tied to workout supplements for men. They cover all the different pills, the different powders, the different protein shakes, the sleeping aids, supplements for work, supplements for pre-workout – all of these different things. They talk about the pros and cons. They talk about advice. They talk about the risks of cancer and other health complications, et cetera. That person is going to establish themselves as an authority much quicker than someone that is trying to do everything at once.

So it’s okay to go really broad – and I’ll talk about that here in a second. Actually, I’ll just pop up the bullet point now. If you want it to be broad… Oh I take it back, this is not what this bullet point is about. Excuse me. So I’d eliminate but I’ll finish this thought.

So it comes down to divide and conquer strategy. It’s much easier to conquer this trunk, and then this trunk, and then this trunk, rather than trying to conquer all at once. It’s really important that you get that right now. I will talk about why it’s okay to go broad later and how to do it correctly, but for now, the last thing I want to talk about before moving on is that you want it to be broad enough that you can write a lot of content on the topic and I’ll give you some very specific rules of thumb in Section 3 here.

So I want to talk about some examples because we’re talking about a lot of abstract concepts and it’s always easier to talk about examples. It makes things more concrete.

So too broad would be: “house cleaning”. Cleaning your house. Overall, you could run a site generally speaking about house cleaning. You absolutely could. But you would at least want to start off with a niche and kind of expand over time. Again, divide and conquer. Conquer this one thing, then this other thing, and in the end, you would have multiple niches under one big umbrella.

So something that I would say is still too broad is: “vacuums”. That’s an entire product category. I would say better examples of a niche spinning off of this would be “robot vacuum cleaners” – really high commissions on those because they’re expensive. They run $300 to $700+.

And if you’re not familiar with the robot vacuum, it’s a vacuum with a sensor on it and it like automatically charges and based on a timer that you set, it comes out and it vacuums your whole house and goes and recharges itself and basically your only job is to empty its canister every once in a while. We have one here and although we don’t use it that much anymore, it was really, really handy. It’s a really cool little thing.

So running a niche site about robot vacuums – all the things to look out for, comparing one to another, comparing them to traditional vacuum cleaners, talking about their dependability, their warranties, all different kind of things. That could be a very good niche site.

“Best vacuums under $100” could be a very good niche site as well. Got to be more challenging I think to produce a lot of content on, but absolutely, you could talk about bag versus bagless, what the advantages are, what the disadvantages are, compare a lot of different models to one another. So those are better examples of niche sites rather than ‘house cleaning’ or cleaning on the whole.

Again, too broad: “fitness”. That’s an entire industry. Still too broad: “men’s fitness” or “women’s fitness”. Better examples within this that would actually be viable niches would be: “home fitness”, “devices”, or “equipment for home fitness”, “kettlebell exercises”. I actually have a friend that run a profitable site and sold his profitable site that was “kettlebell exercises for women” specifically. “Best workout supplements” – I discussed that earlier, too. So all of those are much better niches rather than “fitness” or “men’s fitness” or “women’s fitness”.

And I actually have an entire video on this later in this section, but we’re just going to do good niche/bad niche – what’s good, what’s bad, how could we make it better, what would make it worse, et cetera. So we’ll do more examples later, but for now, I want to continue talking about kind of broad concepts that make a niche viable.

So something again that I’ve never seen anyone go into detail of teaching – and this is a less common hiccup but it’s common enough that it merits discussing – it’s what I refer to as “keyword identification”. And what I mean by that is will your audience members identify themselves by the search terms they’re putting in on Google.

A lot of the time, someone will say, “I want to do women’s fitness.” And I’ll say, “That’s too broad. That’s way too broad. You need to niche down more.” And they’ll go, “How about exercises for women or diets for women over 50 years old?”

I can see how people end up going that direction, but if your audience members are not qualifying themselves for what they search Google with, not a whole lot of people are going to be typing in ‘diets for women over 50 years old’.

So yes, you’ve narrowed it down to a smaller audience, but you cannot find that audience by using keyword tools and looking at the terms they’re searching because they’re probably just searching more general terms, broader terms related to diet and exercise and fitness. They probably are not qualifying themselves by including their age in the search terms they’re using.

So we’ll get to keyword research later – we’ll cover keyword research very extensively – but just know for now, if you cannot identify who’s in your audience and who’s not based on the terms they’re using to search the internet, you haven’t narrowed that niche down in a viable way, in a dependable way, in a way that’s helpful.

It’s possible that you could still refine that niche, that doesn’t mean you need to can that niche entirely. But your niche needs to have audience members that identify themselves by what they search on Google.

So someone that wants to narrow down “men’s fitness” like we talked about earlier and if they tried to narrow it down to “men’s fitness for men that are over 60 years old” or over 50 years old, they’re not going to find a whole lot of search terms. They’re going to find a lot of terms about different exercises. Maybe “exercises that are easier on joints”, “exercises for older men”, “exercises that you can do even when you’re injured”. But even that doesn’t necessarily qualify that person as older than 60 years old or older than 50 years old.

Whereas, if they narrowed the men’s fitness niche down to “the best supplements”, you can find all kinds of search terms for the best pre-workout supplements, the best protein shakes, people that are searching different protein shake names, people that are searching for how to find the best protein shake, people that are searching for ingredients to avoid, and workout supplements, and pills, whether they’re safe, et cetera.

So they are identifying themselves with the things they’re searching on Google. Which if you don’t know – a lot of you probably do know this by now – but we have tools, even free tools that we can use to go in and look for what people are searching, find the search terms that people are using.

That’s no big secret. I’m not saying, “Oh I’m a guru. Look at me, I introduced you to something.” I know most of you know that, but in case you didn’t… that’s why this is important… it’s because that’s how we’re going to determine what we’re going to write about, the different articles, the different contents that we’re going to produce on our website, we’re going to do that based on the search terms we see.

So if they’re not identifying themselves as a member of your target audience using the search terms which is very (I’ve been doing this for like half an hour now and probably just look like an idiot)… but if they’re not identifying themselves with the terms they’re using to search on Google, you have not narrowed your audience down in a dependable, predictable, and viable way.

So just remember: keyword identification. Are they identifying themselves as an audience, a member of your target audience based on the search term they’re using in Google?

I know that’s kind of a complex topic – kind of a complex concept if you’re new to this industry – but hopefully, it’s at least somewhat clear and loosely tangible so that we can move on and we’ll continue refining and building on that throughout this section.

So before we move on to the next video, I want to kind of talk about the final thoughts on going broad. Actually, we still need to talk about going too narrow as well, but we’ll knock out going too broad first.

The broader the niche, ultimately, the larger the audience. The larger the audience, typically speaking, the larger the ‘revenue cap’.

If you only have an audience of maybe 30,000 people across the whole world, it’s going to be very difficult to get more than a few hundred dollars a month or a few thousand dollars a month from that site.

But if you’re talking about an audience with millions of people – and again we’ll talk about this very extensively and specifically in a video later in this section – but if you have a larger audience, it’s distinctly possible that your income, your revenue cap for that site increases, too.

So now, instead of being able to earn $700 a month at maximum potential, you may have the possibility to make $25000 a month. There’s no way to really accurately approximate that on the front end, but just know, typically speaking, the larger the audience – which typically means the broader the content you’re covering – the more earning potential that site is going to have.

It’s not wrong (and I touched on this earlier) to build a somewhat broad authority site. So to build a site to have an ultimate end goal of building a site about men’s exercise, men’s fitness, or men’s dieting – broadly speaking – but you just need to do it in sort of a step-by-step, bit-by-bit way. Remember: divide and conquer.

You may buy somewhat of a broad domain, so you may buy a domain that’s more men’s fitness oriented, rather than men’s supplement oriented. And then overtime, you dominate the supplement niche; and then you dominate and establish yourself as an authority in exercise gear; and then you dominate and establish yourself as an authority in exercise programs; and then diet – specifically that are really helpful for men; et cetera. So you just want to make sure you try tackle those one at a time.

There’s nothing wrong with going really broad, but there’s a right way to do it and there’s a wrong way to do it. And if you spread yourself across all of these topics before really establishing yourself and getting traffic in this niche and making money from this niche… “Okay now, I kind of handed that off.” And instead of going and working in an entirely different niche, a different niche and a different site, “I can keep building now. I can build up this section under the umbrella of the same niche site.” And kind of conquer those one by one over time.

So I also want to talk about when is narrow too narrow because you can hit an extreme there, too.

Typically speaking, single product niches are going to be just as bad as going too broad – and I would almost say, even worse. Because whereas if you go too broad, you can start focusing on one topic and get back on track there. If you go too narrow, you kind of just have to dump the site and start over which kind of stinks a lot of the time because a lot of the time if you’ve gone too narrow, you’ve got a domain that very specifically ties you to that very narrow audience, that very narrow topic. And I guess that is just as damaging – if not more damaging.

So a good way to think about this and the reason this is so important is you’re going to have to write articles on this topic that you’re choosing in this niche. Probably two or three times a week ideally. And we’re talking about somewhere between 1200, 1500+ word articles, two or three times a week for the next several months – if not, years.

Don’t let that frighten you. That’s what this journey is. That’s what making a full-time and sometimes a very lucrative full-time income in internet marketing is – at least at the track we are teaching right now. Again, later in the training, we’ll get into other tracks.

But if you are wanting to grind out a profitable business while spending the least amount of money, this is the best path to do it. And so you’re going to need to produce a lot of content.

So someone wants to choose the niche site “selfie sticks”. They chose the niche site “selfie sticks”. How much can you really write about selfie sticks? Can you produce two or three articles for several months – let alone several years – on topics stemming from selfie sticks? Probably not. I’d be pretty impressed. And if you are doing that, your content probably isn’t super high quality. It’s probably just really nitpicking at that point.

So as a general rule of thumb, whenever we do get to keyword research – don’t worry about this too much right now because we’ll get into it when we get into keyword research later in the training – but a general rule of thumb is when you think of a niche, can you think of five subtopics within that niche that you could probably write at least 10 articles on each? (Yeah. Yeah, okay. Sorry. I said that both ways.) So five subtopics that you can write 10 articles on each or 10 subtopics that you can write five articles on each – but they still to need to stay very close.

If you’re writing all of these articles about men’s supplements, health supplements for men, you need to make sure that they’re all very closely tied around that kind of central idea… that central niche. You don’t want to venture out into exercises because then you’re just expanding outside of your niche. You want to keep it within that niche.

So five subtopics… the general idea is off the top of your head… or not off the top of your head… but as you do keyword research, can you pretty quickly identify 50 different articles? If you dig in for three of four hours, could you pull 50 different article ideas? Probably. If you’ve picked a niche well and you haven’t gone too narrow, you can probably do that pretty easily.

So again, we’ll get into that really extensively in keyword research, but just know that’s a good general rule of thumb.

The takeaway here… because a lot of you may not know how to do keyword research really well and you may find the concept of that really overwhelming… a better takeaway here would be: can you write about a lot of different things credibly or can you research enough to write about a lot of things credibly within that niche? Okay? It’s probably not too narrow then.

So wrapping up this video altogether: broad versus narrow.

As you go through this and we look at the list that you put together in the first video, you should’ve been able to refine or eliminate a lot of your ideas after watching this video.

And if you’ve eliminated all of your ideas, that’s fine, now you have another thing in mind. You may continue to the rest of the training so that you don’t end up doing this over and over again, coming up with ideas, eliminating them, “Oh damn it!” Coming up with more ideas, eliminating them, and, “Grrr!” And just becoming miserable and hating life. You may continue through the training even if you’ve eliminated all of your ideas so you can get all of the kind of pieces in place.

But at the very least, you’ve probably eliminated a handful of your ideas – which is good. That’s the idea of this training. But it goes even deeper than this – significantly deeper than this – so don’t get too attached to any of your ideas.

This concept I learned… I took a screenwriting course… I guess this section will just be the section of gruesome ideas, gruesome concepts, and systems of thought analogies… but I took a screenwriting course in college and they talked about the concept of “killing your babies”.

You’d write a scene and you’d write it so well and you’d just fall in love with that scene. But at the end of the day, someone might look at that that’s really experienced and go, “That scene has nothing to do with it. It has no value. It’s unimportant. Cut that!” And you go, “But I don’t want to cut it. It’s so well-written and I’m really proud of it!” At the end of the day, it’s best to “kill your baby”.

So again, the same thing with niche ideas. Sometimes you have to “kill your babies”. Sometimes you have to – God, this just sounds so awful! I can visualize the transcript right now and it’s terrifying. So I’m not going to say it again. But the general idea is don’t get too attached to your niche ideas because you might have to cut them at one of the next few stages of elimination.

But that’s good. The more you cut, the more likely it is that the idea you end up pursuing is something that’s really, really viable.

I know at this point you may be feeling really overwhelmed. We talked about a lot of different concepts, I’ve talked about keyword research really loosely – which you may have no tangible kind of touchstone to reach out to when I talk about keyword research – and when things like that happen, our brain has a natural tendency to kind of get overwhelmed.

Don’t be overwhelmed. It’s perfectly normal – if that’s what you’re experiencing.

These are very, very, very difficult topics to discuss abstractly and it gets a lot easier in time. It gets a heck of a lot easier in time. So the more you do this, the more you think about these things, the better and better you’ll get.

Like I said in the first video, it’s more of an art than a science. You’ll get a really refined sense – almost second nature – when you come up with an idea or someone runs a niche past you. You’ll be able to pretty quickly say, “Okay, here are the strengths and here are the weaknesses of it,” or “No, it’s just totally invalid.”

So remember – again, I talked about this in the first video and I’ll say it several more times because it’s an important thing to really drill into your brain – to set yourself up for long term success.

Even the worst case scenario here of picking the wrong niche is not the end of the world. There’s still more life in you, there’s still more fight in you, it’s still totally possible for you to succeed in this industry. And I’ll talk about this later in the training as well: there’s time to move on from a niche. And typically, it’s pretty obvious to someone even if you’re not super experienced when that time is.

But that is not the end of the world. You’re still on this journey, you are significantly better equipped at that point if you are saying, “I’ve got to can it with this niche and move on to something else.” You’re significantly better equipped than you were initially because you’ve learned all kind of things to get you to that point. Maybe two months before, you couldn’t identify it as an invalid niche. But now, you can and you can see it coming for all of the different niche ideas you have. And again, you’ve just refined your senses, you’ve become better, you’ve become sharper, you’ve become more capable and skilled – which is another step towards success.

So even if you find yourself… again that’s what we’re trying to minimize with all of these training… even if you find yourself getting to the point where you say, “I think I need to tie this niche off and start over,” just know that actually, even though it feels like a huge step back in progress, it’s actually a step forward because you learned a lot to get there and you’ve set yourself up for success a lot better going down the road.

So, that’s it. I’ve rambled enough.

As always, if you have any questions, feel free to post them to the Facebook group – totally free for registered members. And I will see you over the Facebook group and I will also see you in the rest of these videos.

The next video 3.3 where we’re going to talk about… let me check my slide preview… we’re going to talk about buying audiences. Again, a very, very important concept that’s frequently overlooked. I’m really excited about that one. I hope you’re not feeling too overwhelmed and we’ll keep on going until Lesson 3.3. I’ll see you there.

3.6 Good Niche, Bad Niche — A Breakdown of Multiple Example Niches

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In this video I discuss:

  • Multiple examples of good niches vs. bad niches
  • Examples and detailed explanations of niches that are too broad
  • Examples and detailed explanations of niches that are too narrow
  • Examples of good niches, and detailed explanations as to why they’re good options
  • A recap of what makes good niches vs. bad niches based on the examples shared

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3.6 Transcript Below

Alright, let’s play us some Good Niche, Bad Niche.

At the end of the day, I’m probably a little bit too excited about this lesson but it’s something I’ve never seen anyone teach and I’ve never seen anyone go through. And at the end of the day, when we’re talking about really complex concepts that are very difficult to discuss and teach in the abstract, the best way to do it is to give some concrete examples and rock through them together.

So if you feel like you’ve got niche selection down really well so far, you know what, just go ahead and skip this video. If everything has made sense to you, you can go straight into Video 3.7.

But I think the vast majority of people that are going through this training, I think it’s more normal and more expected for you to be kind of lost and swimming in a lot of confusion and being a little bit overwhelmed. I would expect that at this point, frankly. Remember it’s perfectly natural, it’s a normal reaction to learning a whole bunch of new stuff. But I think this is going to be very helpful if you find yourself in that situation. I think that is a very normal situation to find yourself in given everything we’ve been learning and discussing.

So if you feel like you’ve got niche selection down, go ahead and wrap up, watch Video 3.7 and move into Section 4. But if you feel like it would be helpful to walk through some examples step-by-step, that’s what we’re doing here. And I just named it Good Niche, Bad Niche because it was fun.

So in this particular video, if you find me casting my eyes off camera to the right, it’s because I’ve got an extra monitor over here. Before starting the lesson, I typed up a lot of notes for each one of these niches so forgive me if I’m not making as much eye contact as I usually do. This is the first lesson where I really wanted to make sure that I didn’t miss certain things as we discuss these niches.

So the first niche is: women’s clothing. Is that a good niche or is that a bad niche based on everything we’ve learned so far? Give you a second? Alright, you’ve had long enough.

That unfortunately is a bad niche and there are several reasons why. But the main thing it ties back to is I think in Section 3.2 – at Lesson 3.2 – we talked about what’s too broad and what’s too narrow. And this is absolutely too broad of a niche. Even something more along the lines of women’s dresses which is another step down, makes it a little bit more narrow – even that wouldn’t be a very good niche.

And the reason that both of these would be kind of invalid niche ideas – besides being a little bit broad for women’s clothing – is because the vast majority of products you could sell under each one of those kinds of umbrellas would be less than $50 and a low-percentage commission. You’re not going to find a whole bunch of high-percentage commission digital products in the women’s clothing and women’s dresses niches.

So at the end of the day, the way you could kind of craft this into a more workable idea, better examples of good niches potentially in this industry would be (let’s see) women’s clothing about exercise or women’s clothing (Just let me take a step back. Jumped in and said something that didn’t make any sense). Women’s clothing for exercise or a blog about affordable fashion tips. You know, something that talked about affordable fashion, talked about how to shop at thrift stores, how to shop online to find really good clothing and really good deals – basically how to be a deal-hunter for clothing in women’s niche.

And you may say, “Well Ian, that’s going to be even less than $50 per commission or less than $50 per product.” But at the end of the day, if you create a bunch of content about how to shop affordably, how to find the best deals, how to piece together really kind of nice outfits for as cheaply as possible, you can have a section on your website that’s women’s outfits that are less than $100 or less than $150 or less than $200 that are total outfits… that they bought the hat, they bought the shirt, they bought the pants, they bought the shoes… and you could commission on each one of those and your total commission profit may be something like $10 or $15. So still kind of on the low end but definitely workable.

And the same thing for women’s exercise (or excuse me) clothing for exercise. Like for example, my wife just recently had to figure out like how to evaluate running shoes. She’s been running a lot, she wants to make sure to protect her joints and make sure she’s not going to be aching when she’s older because she didn’t buy good running shoes.

So she was doing all the research on that and there’s so much information that you can cover and write about. I mean, you could have an entire section on the website for women’s exercise clothing and accessories that’s just all about running shoes and what makes a good running shoe, why a good running shoe is so important, and you could just kind of carve yourself out as an authority when it comes to running shoes and shoes for training.

And then that’s before you get into all different kinds of apparel in the women’s exercise niche and that could be… a lot of those are very expensive products… and they could, again, very easily exceed the $50 threshold I’ve mentioned. And again, it’s going to be on the lower end of the commissions but it’s workable. It’s totally workable.

So these niches are much easier to carve your spot out due to having kind of a more targeted smaller audience and their behavior once they get to your site is going to be more straightforward and predictable. And at the end of the day, the more your audience as a whole has predictable tendencies, the easier it is to monetize.

If you’re pulling from all these different things and all these different… even though they’re technically all in the same niche… if you’re pulling a bunch of different audiences and trying to funnel them through the same funnel but they all have very different behaviors that aren’t easy to predict, it could make it very difficult to monetize something as well as possible.

So we’ll talk about that when we get into conversion optimization and we get into keyword selection extensively. But for now, just know basically that end of the day, women’s clothing is not a good niche and those are the reasons why: it’s too broad, the commissions wouldn’t be high enough, and it’s just going to be something that’s really, really hard to specialize in and carve yourself out as a credible authority within that niche.

We talked about this one heads on so you should know the example to men’s fitness or you should know the answer to the men’s fitness example, right? Good niche or bad niche?

That’s a bad niche. That’s another bad niche. Again, just like women’s clothing, it’s too broad. This is an entire industry. It’s not a niche.

Better ideas than men’s fitness are running a website about how to build muscle or how to gain weight. There are a lot of guys… I found myself in that category for a long time. As I got older, my metabolism slowed down and it is much easier for me to gain weight unfortunately now but at the same time fortunately because it makes it easier to build muscle.

So that could be a much better niche than men’s fitness as a whole. Workout supplements for men – we talked about that pretty extensively throughout this section – best home workouts for men, home fitness equipment would be another one, home gym equipment would be another much better niche than men’s fitness as a whole. Remember that’s an industry. It’s not a niche.

So hopefully that clarifies that and kind of shows you, “Hey, how do I go from something that is way too broad and turn it into something that’s workable,” while also not boxing yourself into something that’s too narrow.

Alright, this one’s very specific which is probably a sign of which way it swings. Dachshund – which if you’re not familiar with dachshunds, that’s a wiener dog also known as a sausage dog. You know, the kind of long I find very cute dogs. I’d say that because we own three of them because I just want to demonstrate to the world what a man I was. So dachshund discectomies. A discectomy is where they remove a disc in the spine. It’s a surgical procedure. Again, this is specific enough that you should have a probably good idea of good niche, bad niche. So this I would say is a very good niche.

And I know about this one personally. One of our dachshunds, she blew a disc in her back and over the course of several days… it was actually very, very sad… this was about a year and a half ago… it was very, very sad. She slowly… fortunately, we had her under vet attention by this point and could call the vet and say, “When do we take her in for surgery? When do we take her in for surgery?” But she slowly lost function in her back legs. Her back legs slowly – over the course of about three days – started to go paralyzed because the fluid from her disc was putting so much pressure on her spinal cord that she was becoming unable to use her legs.

And if that had stayed that way for a long period of time, they needed to get in and relieve that pressure surgically because otherwise she could’ve become permanently paralyzed, and even worse, something called “spinal death” can take place where that portion of the spinal cord dies and essentially the dog just needs to be put down.

So for the dog lovers out there, I’m sure you are feeling this one. We did, too. We felt it in a lot of ways. It was very, very difficult emotionally because personally our dogs are members of our family. But it was also difficult financially because it cost about $5,500 once it was all send on – maybe even closer to $6,000 – to have that whole procedure done and it was just a nightmare. And the recovery was so difficult.

So again, this one hits close to home. This is a perfect example of something that you encounter in life and you’re like, “Man, that would be a really good niche.”

And the reason… there are a lot of reasons that this is a really good niche… you’re dealing with a very passionate audience that’s facing a very difficult problem. Remember in one of the lessons we talked about, those being kind of factors for a really good niche potentially.

There’s so much to write about in this industry. If you had an experience at first-hand you may not think so… You may think, “Oh, I can write like three articles about dachshund discectomies.” But that’s not true at all. You could write about intervertebral disc disease which is a disease that all dachshunds have and I don’t think most dachshund owners know about until they kind of stare this face to face and encounter it.

I know that the audience is fairly large because the one vet clinic that we went to in the suburb of Austin that we live in they said they see typically at least one of these a day. So if you think about that times every vet hospital across the United States alone – let alone the world – you get some pretty high numbers, right? That has to be a pretty sizable audience.

So writing articles about intervertebral disc disease, what it is, details of the operation and the costs of the operation, how to finance the operation to make it affordable, the recovery aspects – there’s so much that goes into it.

We have to for the rest of… this dog’s name is Marcy and she’s my daddy’s girl. She’s the one that follows me around everywhere. We have three, like I said. She is the one that follows me around everywhere. She’s in the room with me right now and she is… most of the time I’m recording and the other ones are… I’m gushing now.

But Marcie for the rest of her life cannot jump. We have to limit how much she jumps because there’s a high risk for that. Which means we have to have stairs all over the house: we have stairs that lead up to our couch, we have stairs that lead up to the recliners in my office, we have a ramp that leads up to the bed – so there are all different kinds of things to write about.

So just to give an example, there’s all kinds of content you could write about so many different subtopics within the topics I’ve mentioned and ultimately this could be somewhat of a challenge to monetize. But at the end of the day, there would be several options if you got enough traction and started getting the traffic.

You could write about pet insurance, right? Like I would be a prime candidate for… it may be too late for Marcy… it may be really difficult to get pet insurance for her. But for her two sisters that are also dachshunds… because a lot of households that own one dachshund own another or another two. Which is ridiculous, I know. Whatever. It’s a mad house. But it wouldn’t be a hard sell to say, “Hey, you should really consider pet insurance for your other dachshunds so you never go through this again.” And you could get commissioned on that pet insurance.

One of the problems we encountered was my wife crafted this… we had to have a sling for a while because after the surgery, her back legs gained function over time so we had to do physical therapy and we had to carry her back legs around in this little sling that had these handles. It was almost like a plastic grocery bag and we had to support her back legs while she used her front paws. And it was just so ridiculous looking back.

But my wife, she wanted one that was more comfortable and one that didn’t look as sterile as the one that the vet clinic gave us and she couldn’t find anything online. So she ended up sewing our dog a custom sling that was more comfortable and was cuter because it was from a fabric that my wife chose.

And again, when you’re dealing with a very passionate audience that’s emotionally distraught, that is a prime purchase opportunity. So you could ultimately either start off sewing those yourself or just… if you got enough traffic and you saw the potential there, you got a large enough audience, you could launch a Kickstarter to manufacture these designer comfortable slings for people who had dogs that needed the sling when they got home from the operation.

And there’s also the opportunity for like an eBook – like a $7 or $9 or $15 eBook that just walks people through the path to recovery, what to expect and just kind of holds your hand through all of the difficult things on that journey.

So I talked enough about dachshund discectomies, but of course, I wanted to kind of walk you through the anatomy of why this is a good niche.

Okay, moving on.

Oh, and by the way, if you’re like, “How do I do physical products?” That’s something that I’m going to teach down the road… I fully intend to teach down the road. It’s one of the frequently overlooked monetization opportunities because it can be really difficult and intimidating. But at the end of the day, if you’re getting a bunch of traffic and that’s your only way to monetize it really well… you can figure it out… yeah, you probably are because it could take your site from being worth $1000 a month to being worth $10,000 or $15,000 a month if you did it correctly.

So again, is it difficult to crack? Yes. Is it a lot to learn? Yes. Is it worth an extra $9,000 to $14,000 a month? Hell, yes!

So we’ll talk about that much later in the training because we’re getting pretty advanced to that point. There’s a lot we need to cover between now and then. But just know it’s doable and it’s an option.

Next niche: drone reviews. Is this a good niche or is this a bad niche?

For those of you that don’t know, drones are those kind of miniature helicopters that carry cameras and you can use them to survey, you can use them to shoot real estate footage, and a lot of people just use them for hobbies and use them for fun.

So drone reviews, is that a good niche or is that a bad niche? (I’ve played the Jeopardy music) So that is a good niche… with some challenges. This bumps up against those challenges that we talked about when we talked about technology: can you afford to buy all of the different drones that you’re going to be talking about? Probably not.

But at the end of the day, this is a great niche with high cost purchases. It’s just going to be so much challenging to add value. So if you can afford to buy all of the drones for review, you need to come up with a unique angle to break into this saturated niche where you wouldn’t need first-hand experience or video footage to provide that value to your audience.

So we talked about this earlier, you know, kind of a buying guide for drones that could be broken up into multiple sections: what you’re looking for, what you need to look out for, what components are best, what the different metrics and specs mean when you’re comparing drones side-by-side. If you’re buying drones as a gift, you could create a drone gift guide to guide people to the absolute best drones based on whoever they were buying for – whether it be a friend or a spouse or a child – you know, “These are the best options.”

So there are definitely opportunities that don’t require you to buy all of the drones that you would be studying and looking at. There are definitely opportunities to add value there, you just have to research the industry, research the competition, look at what everyone’s doing, and find your in.

So that is a good niche with some challenges. At the end of the day, a lot of those are going to be high dollar purchases – sometimes ranging up into several hundred dollars each. And your commission on those – even if your commission percentage were only 3% or 5% – could still be $20, $30, $40 for each one that you sell. So good niche with some challenges.

Alright, here’s an interesting one because it’s tricky. So best phone cases. What do you think? You think that’s a good niche or a bad niche?

That is a bad niche, unfortunately. That one’s a little bit tricky, right? Because in one of the videos, I said “the best pretty much anything” is going to be good to write about. This is an exception because of a more important rule – which is a couple of more important rules.

One: because it’s a low dollar product that has a low percentage commission – typically speaking. I know there are high dollar phone cases that sometimes range up to a hundred dollars, but they are few and far between. So that’s one reason it’s not the best niche to enter and it’s a bad niche.

But another reason is that it’s too narrow. There’s not a whole lot of content you can create for phone cases. There are not a whole lot of technical specs that need broken down in articles. And on top of that, you’re going to find yourself wanting to gauge your eyes out if you have to write article after article after article about these individual phone cases – all their different features and find a unique way to talk about this one and talk in a unique way or find a unique way to talk about this one. It’s just not going to be worth it in the long run. So even if you could find enough to write about, the commissions just aren’t going to be there.

So how could you improve this? How could you turn this into a more workable niche?

Well obviously, we need to broaden out. We need to take it from something too narrow and kind of broaden out. So you could create a more holistic website on phone protection and phone replacement and phone repairs. Those could be individual niche sites or those could really be a one niche site. And you kind of tackle each one, one by one. Remember, divide and conquer.

So you could write about the most protective phone cases for impact, the most protective phone cases for water… and then, you’re cutting out a lot of those phone cases that cost like $10 or $20 and have way too low of commissions… and now, you’re carving out a niche where most phone cases are going to be $30, $50, up to $100+ because you’re looking at very specific pains and very difficult to solve pains.

And again, people… if they’re looking for the most waterproof case… if they’re looking for the phone case that is most resistant to impact… they’re probably looking to make a purchase very soon. So if you’re the person that gives them the information and links them to the best purchase, they’re probably going to use your link and you’re going to get commissioned on it.

So another thing you could do on a more holistic site, you could talk about different phone insurance options, whether you buy from your carrier or you buy from a third party… and if you refer them to a third party, there’s probably a pretty handsome commission involved there.

You could talk about the best options for screen repair, you could talk about all different kinds of options there – that could be several articles. You could talk about what to do if you drop your phone in water, how to be prepared just in case you ever dropped your phone in water… and on top of all kinds of other benefits, that is the type of content that could go viral. People might share it if you do a really good job with it. How to be prepared for the day you drop your phone in water because it’s going to happen to most of us at some point. So that’s the kind of thing that a lot of people could share, a lot of people could really engage in.

And at the end of the day, this particular niche, if you broaden it out to something more holistic like I mentioned (what did I say?) phone protection and replacement options… if you broaden it out to something along those lines, you’re going to have a lot of different options for monetization. And another way to monetize as I mentioned in one of the last examples, you could ultimately use this as a pushing off point, as a foundation for launching your own phone lines (excuse me, that’s confusing)… you own line of phone cases. So you could do that through Kickstarter or you could just manufacture based on the gaps you see and you know like there’s a lot of opportunity here.

So you could launch your own crowdfundings campaign. That’s something else I want to cover with this training. But again, that’s much more advance than down the road. We’ve got a lot more to cover between now and then. You should just know that it’s an option that most people don’t traditionally just talk about when they talk about how to monetize in this industry.

Next niche. Good niche, bad niche? And I think we only have a couple more. I think this is the last one or second to the last one. So tattoo removal. Another fairly specific niche. Do you think that is a good niche or a bad niche? That is a good niche in my opinion.

So there is a lot of content to write about. You probably wouldn’t know it if you haven’t gone through tattoo removal yourself. Believe it or not – I know a lot of people find it very hard to believe – but I have a tattoo. I have a very large tattoo and I am like 11 treatments in… 12 treatments in. It’s a very painful process. But I found as I’ve gone through it myself that there is a lot to write about especially for a really large tattoo.

So there’s so much to write about different lasers, different aspects of recovery, everything from pain management down to which creams you should use – because essentially what’s happening when you’re getting a tattoo removed is you’re experiencing a lot of burning to your skin. Your skin reacts as though it was burned because that’s a side effect of the lasers. And so, you have to take care of it very specifically.

And then after you do that, you have these adhesive… from three days, I’m having a fully-dressed wound that may have been blistered and may have been bloody – all different kinds of things. It’s not a pretty process. Now you’ve got to figure out how to get out all that freakin’ adhesive from the tape over the course of three days off of your body.

I’ve had to figure all of these things out and I can tell someone how to do all of these things. So this actually could be a very good niche. Lots to write about. Like I said, a lot to write about.

And it’s a good way to go into a niche that doesn’t really have a whole lot of competition and it would be really, really easy to add a lot of value. The other thing is that it’s a high barrier to entry. My personal tattoo removal sessions – and these aren’t even as expensive as it gets – are about $300 a pop. So a lot of people aren’t going to have it done but a lot of people are going to be considering having it done.

And I think it’s the combination when I talk about high barrier to entry, how many people are going to have it done that also get into internet business and consider pursuing that as a niche. That’s where you really carve down the odds of how many people are going to be in that niche. It’s just not going to be super high competition niche.

It’s a very motivated niche if you want to have a tattoo removed. It could be somewhat personal – which taps into something we talked about in one of the previous lessons – but it’s also a very difficult problem that a lot of people that want to have a tattoo removed face. And so again, that makes for a very motivated buying audience.

So ultimately, the most difficult challenge with this niche is not going to be how to add value, it’s not going to be how to overcome the competition, it’s not going to be not having enough to write about. The challenge for this particular niche is going to be how to monetize.

But again, if you’re dealing with a buying audience, you will always have options for monetization. It’s easy to fall into the trap of saying any niche can be monetized. Technically speaking, that’s true. But realistically… you know, you can monetize a recipe site, you just need so much traffic to make a full-time living from. It’s really difficult. So I’m trying to help you avoid that, of course.

But if you did get the traffic, there would be a lot of different options. Just the ones that came to me off the top of my head would be an eBook – again – somewhere between $10 and $20 maybe a little bit less than $10 where you address all of those problems up front.

Again, it was a long journey to find out everything I needed to find out for tattoo removal and I go to a really good clinic that gave me a lot of information up front. But that still didn’t help me fully with pain recovery options. That still didn’t help me with how to get the freakin’ adhesive off of my body after I’ve had a fully-dressed wound for three days because there’s just so much medical tape involved that there’s all these leftover adhesive and it’s really, really difficult. I had to look that up. So putting all of that information in one place and selling it as an eBook could be an excellent way to monetize.

And ultimately, I think if you’ve got enough traffic that you got enough traction in the niche, the best way to monetize this would be to sell leads to tattoo removal clinics – which is, again, kind of a difficult thing to think about but it’s also something that’s very doable. You would have to call and email clinics around the United States and potentially around the world, but if you could find one in every major city and then you could have a programmer write a script on your website based on someone’s location (This is not a difficult thing to do. It wouldn’t cost a whole lot of money to have done) that changes which clinic they’re referred to. And then you had a phone number that tracked you know, “Okay, I sent them this lead,” which is how lead tracking is done. Again, something that I’d like to talk more about in future training. But there’s actually a lot of information about this. There’s a whole sect of internet marketing – a whole industry or subculture in internet marketing – that is how to sell leads and there’s a lot of really good information there.

So again, at the end of the day, if it’s the difference between your site making $1,000 and your site making $15,000 a month, are you going to figure out how to crack it? Heck yeah because a lot of those leads could be worth $5, $10, $20 each. Because the clinic I go to make several thousand dollars or several hundred dollars at least off of every patient. I just so happened to have a very large tattoo where they’re probably going to profit somewhere between $1500, $2000, maybe more dollars by the time my tattoo is completely removed. Probably closer to $3000 I would assume.

So that’s a really high value lead. So that’s probably the best… that’s probably like the ultimate vision. It’s going to take a long time to get there. There’s a lot of traffic involved and then there’s a lot of technical skill and implementation involved. But again, at the end of the day, it’s very possible you’re dealing with a buying audience… a very motivated audience… it’s possible to make a lot of money off of that audience in the long run. You just have to get creative. There are always options. You just have to get creative. So again that comes back to working in a buying niche.

So we’ve gone through enough examples, I think. I think that gives you enough kind of angles to think about and kind of make all of these concrete so that you can evaluate your own niches really accurately.

The key takeaways, though. I always want to kind of boil it down to the simplest form so that it’s as easy to walk away with and deal with those feelings of being overwhelmed.

A buying audience isn’t enough as we discussed, right? We’ve kind of covered that over this training. Initially, you heard buying audience. “Okay,” you may have thought. “If I do this, I’ve got it right.” And there are a lot of exceptions to that. You still need to be careful not go too narrow or too broad and you still need large enough commissions for it to make sense. Because again, are you likely to get hundreds of thousands or millions of visitors a month? Not remotely as likely as you are to get 1000 visitors a day or 2000 or even 500 visitors a day. So those are the economics we talked about in a previous lesson. We want to keep those skewed in our favor and working for us rather than working against us. So a buying audience is not enough.

You want to make sure that you can write a lot of content surrounding the topic if you can afford to buy all of the products for reviews. So again, don’t fall into that trap where it’s just, “Oh, I’m going to write drone reviews,” and then you find out, “Oh crap, I can’t add value in this niche because I can’t get my hands on the products.” Then you need to find a different way to write content surrounding that industry and surrounding that niche and those purchase decisions and write about those and produce really high quality content and add value there instead.

If you line up all of the above on this slide with a buying audience, there will be a way to monetize. So if you narrow it down to a niche that isn’t too large or too narrow and you can figure out how to add value in that niche and it’s a buying audience that makes purchases – that is likely to make a purchase to solve their pain point or answer their question – there will be a way to monetize that.

And I talked about some really unique ones in this video from selling leads to tattoo removal clinics around the United States to manufacturing your own phone cases. It’s going to be possible. You don’t need to concern yourself with exactly how you’re going to do it right now. There’s so much in between here and there that’s important. But no, if these factors line up, there is going to be a way to make a very good amount of money from that niche site. You just may have to get a little bit creative and you may have to create it yourself.

So that’s it for Good Niche, Bad Niche. Hopefully, it helped more than it hurt. Again, made a lot of these complex concepts that we’ve discussed much more concrete and easier to understand. And hopefully, it equipped you with kind of a Swiss Army knife tool set to evaluate your own niche ideas by.

But as always, if you have questions… if you’re still going, “Man, I don’t know if this is a good niche,” post it in the Facebook group. Let’s take a look at it. Let’s kind of dissect it and talk about it as a community.

I know that can be intimidating because you might feel like someone’s going to compete with you. But at the same time, if it sets you up for success or helps you completely roll out a niche and saves you months in the process, is that a good risk to reward ratio? I would absolutely say so.

And the odds are, people aren’t going to steal your niche. Unfortunately, most of us are just tied up. You know people have treated me in the past like, “I can’t tell this guy my niche.” I don’t have time to steal anyone’s niche, guys. I’m involved in enough niches myself and enough different projects and making money – finding different ways to monetize my existing sites – there’s just no chance that I’m going to steal anybody’s niche. There are enough of them out there that nobody needs to go stealing other people’s niches.

And just while we’re on the topic, if you see someone ballsy enough and putting enough trust in the community to share their niche to workshop it, don’t steal their niche. Don’t be that person. Come up with your own niche. There are plenty of them out there. It can be inspiring, it can be helpful, it can be cool to think about like, “Oh hey, that’s a good niche! That’s a good example! I need to come up with something like that for myself.” But don’t steal other people’s niches – it’s just a dick thing to do.

So, if you want to workshop… if you’re not sure… if you’ve gone through all these and you’re going, “Man, I still don’t know if it’s a good enough niche,” we’re going to go through one more video where we wrap up and really get down, revisit a lot of these concepts and nail them down – really make them solid.

But if you want to post it to the Facebook group, of course, it’s free for registered users here. So, registered members, feel free to post to the Facebook group and we’ll all work on it together, alright?

So that’s that. Until next time, I’ll see you on the next video. And if not, I will see you in the Facebook group between now and then. Alright? So I’ll see you guys there.

3.3 Are You Dealing with a “Buying Audience”?

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In this video I discuss:

  • What a “buying audience” is and why it’s necessary when picking a niche
  • Examples of niches that DON’T have a buying audience, and why that’s so dangerous
  • Multiple examples of “buying” audiences, and rules-of-thumb for all niches
  • How to make money in a buying audience every step of the way, NOT simply for the ultimate topic they’re researching
  • A note about review-based websites and who should pursue them vs. who shouldn’t

Please direct all questions and requests for support to the FIMP Facebook group (free for registered members).

3.3 Transcript Below

Alright, let’s keep this train a-choo-chooin’!

I want to talk about now something incredibly important – and I know I’ve said that about a lot of things in this section – but there are really a lot of important things to cover in niche discovery and niche selection.

So what we’re going to talk about in this lesson in great detail is: What is a “buying audience”?

Now you may have heard of this before or something similar. And you may feel that you have a pretty good idea what this is. But just in case, make sure you watch all of these videos. It should be I think a fairly brief one compared to several of the other lessons in this section – certainly the last couple.

So first, of course, we want to talk about what a buying audience is. And a buying audience is a pretty simple concept overall. It’s not hard to understand. It’s not hard to comprehend or apply to your business. But it is absolutely detrimental if you do not catch it and you don’t think about it. I mean you could not think about it and get lucky at the niche selection stage – happens all the time which is awesome, right? But I want to really put a spotlight on it and make sure that you do not miss this because it really can be detrimental if you don’t catch this when you’re picking your niche.

So, a buying audience. The concept of a buying audience is basically… the people that are reading your articles come into your website, are they likely to make a purchase to answer the questions they have or the pain points that they’re facing?

So if someone comes to your website and they read your article where you’re addressing one of their pain points or you’re answering a question that they have, are they likely to make a purchase to help answer or to help solve that pain point? So we’ll talk about what this means more in depth in the rest of this video, but at its core, this is what this is.

And I can’t… again… just can’t emphasize how important it is that you kind grab a hold of this and you really keep it in mind any time you’re picking a niche. Because you can get traffic to a site… this is where I’ve said over and over again: if you get traffic to a site, you can turn that traffic into money. And you can turn that money into more money.

This is the exception – I’ve talked about how there are exceptions – if you’re not dealing with a buying audience, that is the exception.

So let’s talk a little bit more. Let’s dig in to what this all means and how to make sure you avoid this kind of pitfall in niche selection.

I know it may come off a little bit harsh, but freeloaders in this industry are, again, just detrimental. They will suck you dry and you’ll see your analytics numbers – your number of visitors – going up and up and up but your income would not increase with that if you’re dealing with a freeloading audience.

So there are a ton of niches out there where people will almost never make a purchase based on your content. I see people that say, “Oh I want to start a song lyric website.” Or “I want to start a website with a bunch of quotes or daily blurbs or daily inspiration.” “I want to start a recipe site.” All of these things are niches where people are looking to gorge on free information and then leave.

And if you think about this from your own perspective when you were browsing the web – when you were looking for these things – you were not in a mindset that you would make a purchase to satisfy, “What are those song lyrics? Oh, I’m going to buy the music sheet!” It just doesn’t work that way.

So again, if you think about where you are at… if you were looking up song lyrics or motivational quotes or motivational images or recipes… all of them are on an even keel level playing field. Those are all the exact same kind of site we want to avoid. Because again, they just attract a bunch of freeloaders.

So the reason these are so difficult to monetize is because they need colossal visitor numbers to be profitable. We’ve talked about this earlier in the training, too. The only way to really monetize these sites consistently at least is to put some ads on them.

So you would like install Google AdSense and then you’re maybe making 50 cents to a dollar per click. And again, you’re maybe getting one to three percent click through rate and that means you need hundreds of thousands – if not millions – of visitors to hit a full-time income… and that’s every month… to hit a full-time income in this industry.

So it’s much less likely just based on economics of this industry that there are going to be much fewer websites online with a ton of traffic and a lot more websites online with a modest amount of traffic – you know, somewhere between 500 and 1,000 visitors a day, maybe 5,000 visitors per day. That’s much more achievable than trying to get hundreds of thousands of visitors every single day.

So we’ll again really dig in to this when we dig into keyword research but just to introduce this concept now. So if it doesn’t really tie in to anything solid in your mind, don’t worry about it, we’ll get to it in a couple of sections. But the keywords you create content for on your site should be search terms that people use when trying to solve a pain point or answer a question that will ultimately result in a purchase.

So we’ll talk about some examples here.

If people were searching for terms related to “athlete’s foot”, they’re very likely looking to make a purchase to help solve that problem or ease that pain point. Sometimes multiple purchases. Same would be true if like “ringworm” which is… I guess not everybody knows… but ringworm is a type of fungus. It looks like a worm under the skin – that’s how it got its name – but it’s really just a patch of fungus on the skin. So, same thing.

“The best” pretty much anything. “The best vacuums”, “the best robot vacuums”, “the best supplements for working out” – pretty much “the best” anything, especially if you’re going to apply it to multiple kind of product categories within a niche. You know, “the best protein shake”, “the best weight gainer”, “the best pre-workout supplement”. So a lot of those are going to be keywords that you could write about and very likely be attracting purchasers. A lot of people that are looking for content like that are looking to make a purchase to answer that question or solve their pain point.

This versus that. Bagless versus bag vacuum cleaners. That’s someone that’s not super late in the buying cycle. That’s not someone as late in the buying cycle as someone searching a model number for a Dyson or reviews for a Dyson. So the keyword changes as someone goes through the buying cycle.

So at a really high level, they may be searching like “vacuum cleaners” or “vacuum cleaner comparisons”. And the deeper in the buying cycle that you catch them, the more purchase intent that they have and the more likely they are to convert to a commission through your site if you give them a really content.

So blank versus blank – whether comparing two different models – is about halfway through the buying cycle which is a good place to catch someone because you can carry them from there all of the way through the purchase if you have all of that authoritative and helpful content on your site.

But another example – getting even deeper in the buying cycle like I said – would be looking up a certain model number or looking up a model number plus the words “review”. That means somebody is probably getting really close. They’ve kind of pinpointed that product and they’ve said, “I really want to buy this. I just want to double-check some things.”

So any number of those make good search terms, because again, these people are looking to make a purchase to solve their current pain point.

Yeah, I just mentioned that product-related searches. I mentioned such and such review or the model number of something – pretty much anything that’s related to a product is probably someone that is looking to make a purchase or do a research but they’re just double-checking some things before they make that purchase.

Most problems are good search terms to pick and most of them are going to be looking… just generally speaking, if someone is facing a problem, they’re probably looking to make a purchase to answer their question that they’re facing with that problem or just flat out solve their pain point that is their problem.

So particularly private problems. The more private, the better. Because it’s less likely that they’re going to talk to their peers about it, post about it on social media – even seek medical help. People will oftentimes search online long before they do any of those things for private problems.

So even better, athlete’s foot is actually a decent example. Ringworm is another decent example that people aren’t going to post on Facebook like, “How do I get rid of ringworm?” or “Oh I got the athlete’s foot, how do I get rid of this? My feet burn!” People don’t post that on… well, some people might… but most people don’t post that on social media.

So they are kind of in an urgent situation a lot of the time when they’re searching for private problems specifically. But most problems – generally speaking – are really, really good keywords to pick.

And again, we’ll get really in depth with keyword research, but I want you to keep all of this in mind because this is what ties kind of your niche to a buying audience. It’s the keywords they’re using in between.

If you pick the wrong keywords… and again we’ll talk about this a lot when we start talking about keywords… if you pick the wrong keywords, you could get a lot of traffic and not make a whole lot of money. So that’s why I work digging into this so deeply.

So any hard to solve problem is a really good kind of search term to choose as well. And any emotionally-charged question or problem – something dealing with a relationship, something dealing with their dog or their beloved pet being in pain, or facing issues, or facing something complex and difficult – all of those are really, really good.

So kind of just tuck that away – you don’t need to memorize this list right now – I will probably reference it again when we get into the keywords training and picking good keywords, but I just want to talk to you right now about… all of these are – generally speaking – good terms for talking to a buying audience. And the more you talk to buying audiences, the more money you’re likely to make. So I just think that it’s impossible to teach this part well without talking about keywords even though keywords are a little bit further down the road.

So the other thing to realize is it’s not just a final solution. And what I mean that is you don’t just have to make money or write articles about the very last step. You know: the end result.

Like if someone is looking to renovate a house, that doesn’t mean that you have to sell them contracts or services to solve their problems. It’s important that you realize that because there’s a lot of opportunities in between where they are and their final solution that you could write content on and potentially make money on – make affiliate commissions on.

So you can solve several of their problems with tools and kind of ingenious workarounds kind of like if they’re looking to renovate something, you may be able to point them to a D.I.Y. solution or walk them through a do-it-yourself solution that would mitigate and completely solve their problem.

And maybe you recommend some supplies on the way or something else but this could also… you know, someone looking to renovate their kitchen… that could be broken up into several different articles. You know, someone looking for the differences between certain types of cabinets, the differences between certain types of (what’s that word) countertops. I’m sorry, I had a brain fart. Countertops. Just the differences between so many different things. Appliances, stainless steel alliances versus black appliances versus white appliances. There’s all kind of content that you can create along the way.

So you’re talking about more and more content, again, to fill up your website position – use authority – and to kind of have more shelf space with Google, so to speak, where you have more articles out there. And the more articles you have out there, every piece of content you publish, you kind of increase your chances of getting more and more rankings.

The other thing to kind of tie this all together and simplify it is any complex purchase decision – generally speaking – with high price products is a pretty safe target.

So if you think about someone looking for air purifiers or someone looking at electric toothbrushes – I know that one personally because a few years ago I was on the market for electric toothbrushes and found a really helpful site that compared them all side by side and talked about the pros and cons and talked about the features you needed and the features you didn’t need, and this brand versus this brand – that’s excellent because some of those toothbrushes get up into like $300 each.

So anything where people are going to have a lot of questions along the way and you can write about all of those questions and really help them solve their pain – help them answer their questions – are going to be really, really good niches. The more of those kind of keywords that add up, the kind of the better that niche could be in the long run.

So one final note about buying audiences is review-based sites can be really great – really, really great – because again, someone that’s looking for reviews is typically fairly late stage in the process and they’re probably pretty close to a purchase.

But the other thing to know about review sites is if like say… I see people go all the time into like cellphone reviews or computer reviews. And unless you can buy the product yourself and shoot video footage and take your own pictures and experience it all first-hand, it can be very, very difficult to find a way to add more value than your competition when the only thing you can do to produce an article is read what your competition is saying and then write about it.

But one of the unique approaches to any tech industry is if you can afford to buy all of the different cellphones or if you can come up with a clever way to get your hands on them without buying them, you have a big advantage because there’s a kind of high barrier of entry to that niche. If you could just shoot video footage of all these different things, how many people can do that? Major journalistic outlets can do that and really establish reviewers, but not a whole lot of people can afford to get their hands on that stuff.

So even though it could be really expensive… at least I know in the United States, if you’re blogging about it (so really quick disclaimer: I am not an accountant or a CPA, but I work closely with mine with stuff like this – and you should work closely with yours if you’re doing something like this) but all of that would tax-deductible. I ran a niche site about virtual reality. I still have a niche site about virtual reality. And I bought all the different headsets as they were coming out, reviewed all of them in depth, got a lot of videos for them, ran a YouTube channel for it, and saw some really decent traction really early on because it was new and there weren’t many people out there buying all of the technology themselves.

So just keep that in mind. Remember that your success depends largely on your value offering. And if you can’t get your hands on these products and get first-hand experience and perspective, it could be very difficult to add extra value.

So just keep that in mind if those are niches you’re considering. That it’s not an impossible challenge to overcome, it’s just difficult and it’s probably better to work with a simpler niche early on. Or just work in a niche where you can afford to buy all the products – so that’s another kind of little asterisk. I spent a lot of time talking about technology which is typically really expensive but that’s not necessarily true for every niche you would create review-based sites on. So just keep that in mind.

So one of the ways to get into a niche that’s like a technology-related niche, rather than running a review site, you might pick a lot of pain points and questions surrounding cellphones, generally speaking… surrounding computers, generally speaking… if you’re talking about a really technological niche or any niche like luxury goods where… say, Louis Vuitton hand bags or women’s luxury hand bags in general.

If you were trying to go into that niche and you couldn’t afford to buy all the products, you could absolutely write content helping people, calling their attention to the most important things as they’re going through the buying cycle themselves and then you can still monetize that content really well.

So instead doing side-by-side cellphone or side-by-side computer reviews, you would do phone’s usability and features within certain phones and what to look out for in a phone. Typically speaking, writing articles about in general – and this would all again be fueled by keyword research which we’ll talk about later – but instead of comparing phones side-by-side in videos and stuff like that, you may compare usability and features side-by-side. You may write an article about phone usability overall and what makes a phone usable, what are the easiest to use cellphones – stuff like that.

Talking about computers, you could talk about what is RAM, what are processors, what’s the difference between AMD and Intel processors – just information that people are searching that is very, very difficult to find really good information on a lot of the time, and people that had technical computer shopping questions – stuff like that. So instead of comparing computer side-by-side, you would write about a lot of content throughout the buying cycle that someone goes through and you can still, that way, position yourself as a credible authority and refer people to purchases through your affiliate link without ever comparing one computer side-by-side with another computer.

So I hope that makes sense. I think I’ve made that fairly clear. I think it’s okay to move on now, but I just really, really want to emphasize that. It’s an important caveat for everything we’ve talked about so far.

So to give you kind of a really important rule of thumb – again, to break this down and kind of summarize it and just kind of stick that thing in your brain – that you should really hold on to: it’s easy to get entangled by all of these details… I know… and just kind of overwhelmed. But at the end of the day, if you remember the core of this lesson, your selected niche is going to be much, much more likely to be valid.

I know we discussed a lot of other things, but at the end of the day, if you remember: will your audience frequently make purchases to solve the pain points or answer the questions you’re writing about? If the answer to that is “YES” for a lot of the kind of content you’re envisioning for your website, and a lot of the pains that your audience is facing, a lot of the questions that they have, it’s distinctly possible that you have a much more valid niche than someone that didn’t think about this at all.

So, that’s it. That’s all there is about working with a buying niche… a buying audience. Really, really important lesson. Again, it’s not totally essential for success but the better you factor this in to your niche selection process, the more likely you are to succeed in the long run versus someone that needs a ton of traffic to make money through advertising. And again, my number one priority over and over again throughout this training is to set you up for success as well as I possibly can.

So, that’s that. We’re done talking about buying audiences for now.

As always, if you have any questions, feel free to post them on the Facebook group. It’s totally free for registered members and people that have registered for accounts for free. And I’ll see you there and I will also see you in the next video.

In the next lesson, we’re going to be talking about competition – something that I think people get really overwhelmed and intimidated by in this industry – and I’m going to tell you why that really isn’t the right instinct. It’s actually really, really good news.

So we’ll talk about that in the next video. I’ll see you there and I’ll talk to you then.

3.2 Broad Niches vs. Narrow Niches; What’s TOO Narrow?

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In this video I discuss:

  • The pros and cons of broad vs. narrow niches
  • Examples of niches that are way too broad and how to narrow them down
  • Discussing the topic of “Keyword ID” — how peoples identify themselves based on the terms they’re searching
  • When is narrow TOO narrow?
  • Examples of niches that are too narrow and how to fix them
  • Eliminating niche ideas from lesson 3.1 based on everything learned in this lesson

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3.2 Transcript Below

Okay, let’s dig in even deeper and let’s kind of talk about again something that I think is really important that most people don’t teach when they’re teaching niche selection. Because I will tell you this: if you don’t find yourself getting it, like you’re not just like, “Ah! I got it!” I wouldn’t be too concerned because it’s a difficult thing to talk about in the abstract. It’s something that you get a feel for more over time. It’s more of an art than a science. But everything I put in this video hopefully will make it more of a science than it has ever been before.

So we’re going to talk about what’s broad and narrow and what the pros and cons are and what’s too broad and what’s too narrow because you don’t want to hit either one of those extremes.

So, ‘dieting’… I hear people say this all the time, “I’ve picked dieting as my niche.” “I’ve picked fitness as my niche.” “I want to run a site about motivation.” Those aren’t niches. Those are entire industries. And I can understand that it’s easy to make those mistakes. I don’t want anybody to beat themselves up and think like, “Oh I’m so stupid!” That’s not the point. That’s not what I’m saying if you have written down any of those.

But those are not niches. Those are entire industries and they’re way too broad. You cannot go into this business and take on an entire industry and expect it to succeed or see any results at all within the next 12 months. So just know that those are industries, not niches.

So the broader you go… again, we don’t want to go as extreme as an entire industry, that is considered to be way too broad… but the broader you go, the longer it’s going to take to get traction. The more information you’re trying to cover – which is why we typically try to niche down at least in the beginning – the longer it’s going to take you to start getting search engine rankings longer, it’s going to take you to start getting consistent traffic to your website.

So I want to encourage you – if you’re going the search engine optimization (SEO) route – is you have to think about it from Google’s perspective. They’re the number one search engine we’re all trying to please. If you please them, typically you please all of the kind of underdogs in the industry. But the vast majority of a lot of our businesses are built on Google traffic and search engine optimization.

And you have to think about it: if you got someone writing about everything there is about men’s fitness, for example – we’ll talk about that more in depth later – but if they’re just writing everything men’s fitness… if they’re talking about accessories and gear, workout types, different exercises, different exercise programs, different shoes, different supplements, they’re talking about different celebrities within the industry, they’re talking about celebrity diets – all these stuff. If they’re trying to cover all of these topics, they’re going to write one article here, one article here, one article here, one article here, and it’s going to be very difficult for anyone – Google included – to recognize this site as an authority for that topic. And the more in authority you are in the topic, typically, the higher your search engine rankings are going to build over time.

So you compare that to someone that is only writing every single article they write is in one way or another tied to workout supplements for men. They cover all the different pills, the different powders, the different protein shakes, the sleeping aids, supplements for work, supplements for pre-workout – all of these different things. They talk about the pros and cons. They talk about advice. They talk about the risks of cancer and other health complications, et cetera. That person is going to establish themselves as an authority much quicker than someone that is trying to do everything at once.

So it’s okay to go really broad – and I’ll talk about that here in a second. Actually, I’ll just pop up the bullet point now. If you want it to be broad… Oh I take it back, this is not what this bullet point is about. Excuse me. So I’d eliminate but I’ll finish this thought.

So it comes down to divide and conquer strategy. It’s much easier to conquer this trunk, and then this trunk, and then this trunk, rather than trying to conquer all at once. It’s really important that you get that right now. I will talk about why it’s okay to go broad later and how to do it correctly, but for now, the last thing I want to talk about before moving on is that you want it to be broad enough that you can write a lot of content on the topic and I’ll give you some very specific rules of thumb in Section 3 here.

So I want to talk about some examples because we’re talking about a lot of abstract concepts and it’s always easier to talk about examples. It makes things more concrete.

So too broad would be: “house cleaning”. Cleaning your house. Overall, you could run a site generally speaking about house cleaning. You absolutely could. But you would at least want to start off with a niche and kind of expand over time. Again, divide and conquer. Conquer this one thing, then this other thing, and in the end, you would have multiple niches under one big umbrella.

So something that I would say is still too broad is: “vacuums”. That’s an entire product category. I would say better examples of a niche spinning off of this would be “robot vacuum cleaners” – really high commissions on those because they’re expensive. They run $300 to $700+.

And if you’re not familiar with the robot vacuum, it’s a vacuum with a sensor on it and it like automatically charges and based on a timer that you set, it comes out and it vacuums your whole house and goes and recharges itself and basically your only job is to empty its canister every once in a while. We have one here and although we don’t use it that much anymore, it was really, really handy. It’s a really cool little thing.

So running a niche site about robot vacuums – all the things to look out for, comparing one to another, comparing them to traditional vacuum cleaners, talking about their dependability, their warranties, all different kind of things. That could be a very good niche site.

“Best vacuums under $100” could be a very good niche site as well. Got to be more challenging I think to produce a lot of content on, but absolutely, you could talk about bag versus bagless, what the advantages are, what the disadvantages are, compare a lot of different models to one another. So those are better examples of niche sites rather than ‘house cleaning’ or cleaning on the whole.

Again, too broad: “fitness”. That’s an entire industry. Still too broad: “men’s fitness” or “women’s fitness”. Better examples within this that would actually be viable niches would be: “home fitness”, “devices”, or “equipment for home fitness”, “kettlebell exercises”. I actually have a friend that run a profitable site and sold his profitable site that was “kettlebell exercises for women” specifically. “Best workout supplements” – I discussed that earlier, too. So all of those are much better niches rather than “fitness” or “men’s fitness” or “women’s fitness”.

And I actually have an entire video on this later in this section, but we’re just going to do good niche/bad niche – what’s good, what’s bad, how could we make it better, what would make it worse, et cetera. So we’ll do more examples later, but for now, I want to continue talking about kind of broad concepts that make a niche viable.

So something again that I’ve never seen anyone go into detail of teaching – and this is a less common hiccup but it’s common enough that it merits discussing – it’s what I refer to as “keyword identification”. And what I mean by that is will your audience members identify themselves by the search terms they’re putting in on Google.

A lot of the time, someone will say, “I want to do women’s fitness.” And I’ll say, “That’s too broad. That’s way too broad. You need to niche down more.” And they’ll go, “How about exercises for women or diets for women over 50 years old?”

I can see how people end up going that direction, but if your audience members are not qualifying themselves for what they search Google with, not a whole lot of people are going to be typing in ‘diets for women over 50 years old’.

So yes, you’ve narrowed it down to a smaller audience, but you cannot find that audience by using keyword tools and looking at the terms they’re searching because they’re probably just searching more general terms, broader terms related to diet and exercise and fitness. They probably are not qualifying themselves by including their age in the search terms they’re using.

So we’ll get to keyword research later – we’ll cover keyword research very extensively – but just know for now, if you cannot identify who’s in your audience and who’s not based on the terms they’re using to search the internet, you haven’t narrowed that niche down in a viable way, in a dependable way, in a way that’s helpful.

It’s possible that you could still refine that niche, that doesn’t mean you need to can that niche entirely. But your niche needs to have audience members that identify themselves by what they search on Google.

So someone that wants to narrow down “men’s fitness” like we talked about earlier and if they tried to narrow it down to “men’s fitness for men that are over 60 years old” or over 50 years old, they’re not going to find a whole lot of search terms. They’re going to find a lot of terms about different exercises. Maybe “exercises that are easier on joints”, “exercises for older men”, “exercises that you can do even when you’re injured”. But even that doesn’t necessarily qualify that person as older than 60 years old or older than 50 years old.

Whereas, if they narrowed the men’s fitness niche down to “the best supplements”, you can find all kinds of search terms for the best pre-workout supplements, the best protein shakes, people that are searching different protein shake names, people that are searching for how to find the best protein shake, people that are searching for ingredients to avoid, and workout supplements, and pills, whether they’re safe, et cetera.

So they are identifying themselves with the things they’re searching on Google. Which if you don’t know – a lot of you probably do know this by now – but we have tools, even free tools that we can use to go in and look for what people are searching, find the search terms that people are using.

That’s no big secret. I’m not saying, “Oh I’m a guru. Look at me, I introduced you to something.” I know most of you know that, but in case you didn’t… that’s why this is important… it’s because that’s how we’re going to determine what we’re going to write about, the different articles, the different contents that we’re going to produce on our website, we’re going to do that based on the search terms we see.

So if they’re not identifying themselves as a member of your target audience using the search terms which is very (I’ve been doing this for like half an hour now and probably just look like an idiot)… but if they’re not identifying themselves with the terms they’re using to search on Google, you have not narrowed your audience down in a dependable, predictable, and viable way.

So just remember: keyword identification. Are they identifying themselves as an audience, a member of your target audience based on the search term they’re using in Google?

I know that’s kind of a complex topic – kind of a complex concept if you’re new to this industry – but hopefully, it’s at least somewhat clear and loosely tangible so that we can move on and we’ll continue refining and building on that throughout this section.

So before we move on to the next video, I want to kind of talk about the final thoughts on going broad. Actually, we still need to talk about going too narrow as well, but we’ll knock out going too broad first.

The broader the niche, ultimately, the larger the audience. The larger the audience, typically speaking, the larger the ‘revenue cap’.

If you only have an audience of maybe 30,000 people across the whole world, it’s going to be very difficult to get more than a few hundred dollars a month or a few thousand dollars a month from that site.

But if you’re talking about an audience with millions of people – and again we’ll talk about this very extensively and specifically in a video later in this section – but if you have a larger audience, it’s distinctly possible that your income, your revenue cap for that site increases, too.

So now, instead of being able to earn $700 a month at maximum potential, you may have the possibility to make $25000 a month. There’s no way to really accurately approximate that on the front end, but just know, typically speaking, the larger the audience – which typically means the broader the content you’re covering – the more earning potential that site is going to have.

It’s not wrong (and I touched on this earlier) to build a somewhat broad authority site. So to build a site to have an ultimate end goal of building a site about men’s exercise, men’s fitness, or men’s dieting – broadly speaking – but you just need to do it in sort of a step-by-step, bit-by-bit way. Remember: divide and conquer.

You may buy somewhat of a broad domain, so you may buy a domain that’s more men’s fitness oriented, rather than men’s supplement oriented. And then overtime, you dominate the supplement niche; and then you dominate and establish yourself as an authority in exercise gear; and then you dominate and establish yourself as an authority in exercise programs; and then diet – specifically that are really helpful for men; et cetera. So you just want to make sure you try tackle those one at a time.

There’s nothing wrong with going really broad, but there’s a right way to do it and there’s a wrong way to do it. And if you spread yourself across all of these topics before really establishing yourself and getting traffic in this niche and making money from this niche… “Okay now, I kind of handed that off.” And instead of going and working in an entirely different niche, a different niche and a different site, “I can keep building now. I can build up this section under the umbrella of the same niche site.” And kind of conquer those one by one over time.

So I also want to talk about when is narrow too narrow because you can hit an extreme there, too.

Typically speaking, single product niches are going to be just as bad as going too broad – and I would almost say, even worse. Because whereas if you go too broad, you can start focusing on one topic and get back on track there. If you go too narrow, you kind of just have to dump the site and start over which kind of stinks a lot of the time because a lot of the time if you’ve gone too narrow, you’ve got a domain that very specifically ties you to that very narrow audience, that very narrow topic. And I guess that is just as damaging – if not more damaging.

So a good way to think about this and the reason this is so important is you’re going to have to write articles on this topic that you’re choosing in this niche. Probably two or three times a week ideally. And we’re talking about somewhere between 1200, 1500+ word articles, two or three times a week for the next several months – if not, years.

Don’t let that frighten you. That’s what this journey is. That’s what making a full-time and sometimes a very lucrative full-time income in internet marketing is – at least at the track we are teaching right now. Again, later in the training, we’ll get into other tracks.

But if you are wanting to grind out a profitable business while spending the least amount of money, this is the best path to do it. And so you’re going to need to produce a lot of content.

So someone wants to choose the niche site “selfie sticks”. They chose the niche site “selfie sticks”. How much can you really write about selfie sticks? Can you produce two or three articles for several months – let alone several years – on topics stemming from selfie sticks? Probably not. I’d be pretty impressed. And if you are doing that, your content probably isn’t super high quality. It’s probably just really nitpicking at that point.

So as a general rule of thumb, whenever we do get to keyword research – don’t worry about this too much right now because we’ll get into it when we get into keyword research later in the training – but a general rule of thumb is when you think of a niche, can you think of five subtopics within that niche that you could probably write at least 10 articles on each? (Yeah. Yeah, okay. Sorry. I said that both ways.) So five subtopics that you can write 10 articles on each or 10 subtopics that you can write five articles on each – but they still to need to stay very close.

If you’re writing all of these articles about men’s supplements, health supplements for men, you need to make sure that they’re all very closely tied around that kind of central idea… that central niche. You don’t want to venture out into exercises because then you’re just expanding outside of your niche. You want to keep it within that niche.

So five subtopics… the general idea is off the top of your head… or not off the top of your head… but as you do keyword research, can you pretty quickly identify 50 different articles? If you dig in for three of four hours, could you pull 50 different article ideas? Probably. If you’ve picked a niche well and you haven’t gone too narrow, you can probably do that pretty easily.

So again, we’ll get into that really extensively in keyword research, but just know that’s a good general rule of thumb.

The takeaway here… because a lot of you may not know how to do keyword research really well and you may find the concept of that really overwhelming… a better takeaway here would be: can you write about a lot of different things credibly or can you research enough to write about a lot of things credibly within that niche? Okay? It’s probably not too narrow then.

So wrapping up this video altogether: broad versus narrow.

As you go through this and we look at the list that you put together in the first video, you should’ve been able to refine or eliminate a lot of your ideas after watching this video.

And if you’ve eliminated all of your ideas, that’s fine, now you have another thing in mind. You may continue to the rest of the training so that you don’t end up doing this over and over again, coming up with ideas, eliminating them, “Oh damn it!” Coming up with more ideas, eliminating them, and, “Grrr!” And just becoming miserable and hating life. You may continue through the training even if you’ve eliminated all of your ideas so you can get all of the kind of pieces in place.

But at the very least, you’ve probably eliminated a handful of your ideas – which is good. That’s the idea of this training. But it goes even deeper than this – significantly deeper than this – so don’t get too attached to any of your ideas.

This concept I learned… I took a screenwriting course… I guess this section will just be the section of gruesome ideas, gruesome concepts, and systems of thought analogies… but I took a screenwriting course in college and they talked about the concept of “killing your babies”.

You’d write a scene and you’d write it so well and you’d just fall in love with that scene. But at the end of the day, someone might look at that that’s really experienced and go, “That scene has nothing to do with it. It has no value. It’s unimportant. Cut that!” And you go, “But I don’t want to cut it. It’s so well-written and I’m really proud of it!” At the end of the day, it’s best to “kill your baby”.

So again, the same thing with niche ideas. Sometimes you have to “kill your babies”. Sometimes you have to – God, this just sounds so awful! I can visualize the transcript right now and it’s terrifying. So I’m not going to say it again. But the general idea is don’t get too attached to your niche ideas because you might have to cut them at one of the next few stages of elimination.

But that’s good. The more you cut, the more likely it is that the idea you end up pursuing is something that’s really, really viable.

I know at this point you may be feeling really overwhelmed. We talked about a lot of different concepts, I’ve talked about keyword research really loosely – which you may have no tangible kind of touchstone to reach out to when I talk about keyword research – and when things like that happen, our brain has a natural tendency to kind of get overwhelmed.

Don’t be overwhelmed. It’s perfectly normal – if that’s what you’re experiencing.

These are very, very, very difficult topics to discuss abstractly and it gets a lot easier in time. It gets a heck of a lot easier in time. So the more you do this, the more you think about these things, the better and better you’ll get.

Like I said in the first video, it’s more of an art than a science. You’ll get a really refined sense – almost second nature – when you come up with an idea or someone runs a niche past you. You’ll be able to pretty quickly say, “Okay, here are the strengths and here are the weaknesses of it,” or “No, it’s just totally invalid.”

So remember – again, I talked about this in the first video and I’ll say it several more times because it’s an important thing to really drill into your brain – to set yourself up for long term success.

Even the worst case scenario here of picking the wrong niche is not the end of the world. There’s still more life in you, there’s still more fight in you, it’s still totally possible for you to succeed in this industry. And I’ll talk about this later in the training as well: there’s time to move on from a niche. And typically, it’s pretty obvious to someone even if you’re not super experienced when that time is.

But that is not the end of the world. You’re still on this journey, you are significantly better equipped at that point if you are saying, “I’ve got to can it with this niche and move on to something else.” You’re significantly better equipped than you were initially because you’ve learned all kind of things to get you to that point. Maybe two months before, you couldn’t identify it as an invalid niche. But now, you can and you can see it coming for all of the different niche ideas you have. And again, you’ve just refined your senses, you’ve become better, you’ve become sharper, you’ve become more capable and skilled – which is another step towards success.

So even if you find yourself… again that’s what we’re trying to minimize with all of these training… even if you find yourself getting to the point where you say, “I think I need to tie this niche off and start over,” just know that actually, even though it feels like a huge step back in progress, it’s actually a step forward because you learned a lot to get there and you’ve set yourself up for success a lot better going down the road.

So, that’s it. I’ve rambled enough.

As always, if you have any questions, feel free to post them to the Facebook group – totally free for registered members. And I will see you over the Facebook group and I will also see you in the rest of these videos.

The next video 3.3 where we’re going to talk about… let me check my slide preview… we’re going to talk about buying audiences. Again, a very, very important concept that’s frequently overlooked. I’m really excited about that one. I hope you’re not feeling too overwhelmed and we’ll keep on going until Lesson 3.3. I’ll see you there.

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