Niche marketing is a great way to make a living online, or to add some extra income to your bank account almost in auto mode.
What is niche marketing?
In a nutshell, it is selling product through a dedicated and optimized website to a small group of people.
The product can be your own product or you can sell other people’s products and earn money through commissions.
Sounds easy?
It surely is, but you must follow some rules if you want to success in this highly competitive activity:
1. Choose a profitable niche
That’s ultimately what will make or break your earnings. A profitable niche is in high demand, has good affiliate programs and not too many competitors. The key word here is “not too many”. Don’t choose a niche that has no competition, it usually means that the product has not enough demand.
2. Create a website that converts well
That’s another important factor to consider. A website that converts well is a website that has a maximum number of sales per visitors. The website must be well-designed, easy to navigate, have excellent content and a clear call to action, either buy or subscribe to your list.
Now a little bit of mathematics.
You calculate the conversion rate by dividing the number of unique visitors by the number of sales. For example, if you have 500 visitors a day on average, and 8 sales, your conversion rate is: 8 / 500 = 0.016. Then you multiply this number by 100, which gives 1.6%.
That number means that you should have 1 sale for every 63 new visitors on your website.
Another excellent indicator to consider is the money earned per visitor.
Let’s continue with our example: 500 visitors for 8 sales. Now if you make $30 per sale, the total you make is $240 per day. Now divide that amount of dollars by the number of visitors and you get: 240 / 500 = $0.48 per visitor on average.
Keep that number asides for now, we will use it later to drive traffic to your site.
3. Get targeted traffic
The best website selling the best product won’t make a dime without traffic. It won’t make much more without targeted traffic.
You can see targeted traffic as people with intention to buy. How do you find these people?
- By using good keywords in your content.
Ask yourself the following questions:
What was the last product you bought online?
What did you search in order to find it?
If you can answer those questions, you’re good to go.
- By using PPC (pay per click).
That’s the best source of targeted traffic in my opinion. And by knowing your earning per visitor, you already know how much you can pay per click!
PPC is a large subject I will dedicate a lot of posts in the future.
Make a living using niche marketing is not complicated, but it’s a process. Keep in mind those 3 things: product, conversion, traffic. They are the 3 main elements of your niche marketing business you’ll need to master in order to make serious money online.
