What are the untapped niche markets which will make you rich? The top three niches for online marketers are the health, wealth and romance industries. However, they’re also massively competitive. If you can find the untapped niche markets, you can build a website, rank in on Google, and sit back with a Piña colada on the beach making money for nothing! At least that’s the fantasy!
Untapped Niche Markets
In truth, the people who build authority websites work incredibly hard before they are successful. Pat Flynn is known for building passive income websites which rank on Google. His security guard training website managed to earn him a nice passive income after he created an awesome resource for anyone interested in the security guard business. He found untapped niche markets by huge amounts of keyword research before he even wrote a single piece of content. He wasn’t a security guard expert either. You don’t need to be an expert in an industry to create an awesome resource and profit from it, as Pat proves.
So what are the untapped niche markets and how do we find them? Despite there being a huge amount of marketers online, there’s always something unusual which hasn’t yet been capitalized on.
Untapped Niche Markets – Niche Within A Niche
Finding a niche within a niche is the best way to tap into untapped niche markets. Even the most popular niches, have many sub-niches too. So even the money making online niche, probably the most competitive niche, has several sub niches you can tap into. Take this article title as an example. You can also find a tonne of sub niche markets in this article.
A good method of finding sub niches is by using Google’s keyword planner. Plug in your main keyword of the main niche topic into the keyword planner and see what comes up. You will usually find many keyword combinations within that particular niche.
By using the negative keyword option, you can remove some of the more obvious keywords. You can also specify a keyword which must be included in your results. Choosing obscure keywords to include can help you find untapped niche markets to rank your articles and websites for.
Untapped Niche Markets – Paid Advertising Versus ‘Free’
Another strategy to use is that of paid advertising. With niche markets, you aim to rank a website on the top of Google for certain keywords. That way you get free traffic for potentially years to come. Any sales you make after that is pure profit besides the small overheads of running a website. However, this can take years to attain. Even if you do get to the top of Google, your niche might not be profitable. You might find it hard to monetize if your niche is particularly obscure. Unless you keep up with your site, it can also fall down the listing too, especially if someone else finds a similar or the same niche.
Another strategy is to use paid advertising and send people directly to other people’s products. Of course this can be much more expensive, but it’s also a lot faster. Instead of waiting for Google to rank your website, and hoping, you find a good product suite to promote through an email marketing sales funnel.
I say a product ‘suite’ because it’s much more profitable to promote a range of products than a single product. Since we’re talking about monetization, I’m saying to use affiliate products. The reason is they can be automated and sold anywhere from your website, regardless of where in the world anyone is. (See how to monetize a website without ads)
Tapping Into Sub-Niches Within A Major Niche
Even the health, romance and finances niches have opportunities within their sub-niches. Consider the money making online niche. It’s hugely competitive but there’s also a lot of money to be made. Plus with the right program you can earn a lot more money by using paid advertising and sending people to higher valued offers. Compared to working for months in the hope of ranking a website on Google, this can be much more lucrative.
Plus, even if your website does rank top of Google, you still have a limited number of visitors to an organic website. Paid advertising lets you tap into a global audience fast.
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What’s a product suite? It’s a range of products starting from a small valued item (e.g. $29.95) and going all the way up to products worth $20,000. What this means is that you can cater for a wider audience with your products and benefit from high ticket sales. Even with a smaller audience, you can earn larger commissions and hence a bigger income by using a product suite instead of a single affiliate product.