Tap Into A Niche for Profits
There are so many online entrepreneurs who sadly get into a niche and become stuck because they have no idea how to make money in it. They know it’s a popular topic, but they can’t quite put a finger on how to monetize it from one or more directions.
You should be able to pull profits in no matter what your niche, including affiliate income, money from info products – and earnings from coaching offers, where applicable.
You can’t just announced that you’re a niche leader and expect people to throw money in your direction. You have to earn it above those you are competing with. There’s room for everyone, but you have to know how to position yourself in a way that helps you bring in revenue quickly and consistently.
Start By Setting Yourself Up for Repeat Earnings
Before you even get started earning once, you need to get ready to earn more than once – from the same individuals. It’s much easier to turn someone into a repeat buyer than it is to convert them into a buyer in the first place.
In order to achieve this goal, you have to be able to contact the buyer more than once – whether you’re the vendor of a product or acting as an affiliate. So before you start trying to sell to them, get them on your list.
Start list building from day one. Not a year later when you’ve begun earning money. If you neglect the list building task for that long, you will have lost out on a substantial amount of repeat business.
Come up with a lead magnet that people can’t pass up. For example, if you’re in the weight loss niche, it might be something like, “10 Ways You’re Sabotaging Your Weight Loss Without Even Realizing It!”
People will be intrigued about how they could be preventing their own weight loss goals, and since it’s free, they’ll sign up to your list and download the gift you’re giving them. Make sure the lead magnet is top quality so that the subscriber wants to stay on your list and not just hop on it to grab the gift and leave.
Over the course of the coming days, weeks and months, you’ll want to nurture your list with good information and tips so that they’re primed and ready to buy whenever you have something for sale, or you’re ready to promote something as an affiliate.
Don’t get them on your list and abandon them until you have something to monetize. They will forget who you are in a sea of millions of other marketing messages arriving in their inbox.
Find a Variety of Affiliate Programs
Some newbie niche marketers pigeonhole themselves into one box when it comes to their affiliate earnings. No matter what niche you’re in, you can find affiliate programs on many different platforms for a variety of products.
Start by understanding two important types of earnings you can generate. The first are straight commissions, where you get a percentage of the sale or a specific dollar amount.
The amount you earn can range depending on the price point of the product, the company selling it, and your level of affiliate income. With some vendors, the more you sell, the higher your earnings go.
The second type of earnings are where you’re paid for CPAs (cost per action). This can be getting someone to sign up for a trial, asking for a quote for something, or even clicking through on a link.
You’re going to want to look for commission opportunities for products that are both tangible and digital. Let’s take the dog niche as an example. You can probably guess that Amazon sells a lot of dog products, so that would be a great place to monetize your content with tangible product recommendations.
But if you head over to ClickBank, you’ll find digital courses for things like dog training and dog health issues. You can also find digital products on sites like Warrior Plus and JVZoo for many different niches.
Besides courses, you can look for opportunities to recommend things like tools and software programs, too. For example, you could type into Google dog tool affiliate program and find a tool like FitBark, which is a fitness tracker for your four legged friend!
There are digital brain games for dogs, monitoring and communication software for owners to use to interact with their pet whenever they’re not at home, and many more unique options.
Don’t just rely on Amazon – branch out a bit! You can conduct searches on Google for different types of commission programs direct from the vendors, or use a third party platform.
Amazon isn’t the only game in town. You can go to Share-a-Sale and Commission Junction and search for dog affiliate programs and find things like opportunities to promote Chewy or even JCPenney, where they sell dog clothes!
Subscription boxes are also something affiliates can make money with in a variety of niches. Just type in your niche topic and the words subscription box affiliate and see what comes up!
For dogs, you’ll find the BarkBox subscription box. For the survival niche, you’ll find the Crate Club, where you’ll earn a commission on survival and tactical boxes people sign up for.
Look to see what percentage you’ll be earning, and what the length of the cookie is (usually 30 days). See if the vendor has any special promo codes you can announce to your followers to help you send traffic their way.
Increase Commissions with Real Reviews
The best thing you can do to earn a significant amount of income in a niche is to review products with an authentic presentation of the facts and your opinion alongside them. No one wants a rehash of exactly what they read on the listing for a product.
Too many affiliates simply go to Amazon or a vendor’s sales page and copy and paste the bulletpoints and product details into their review. Your site visitors need recommendations, not a reading service.
When you find a product you want to promote, don’t rush your review. Do some in-depth research that goes above and beyond what’s in the listing. If you’re reviewing a tangible product, look to see if there is anything from the manufacturer, any articles from the launch of it, or from other sites that may have reviewed it.
You’re looking to have a thorough review, and you can absorb data from many different places to educate yourself so that you can create your review from scratch. Having little-known details about a product is one way to boost the appeal of your review.
But visitors want to know what you think about it. Besides the features it has, the price point it offers, and the benefits there are to using it, what makes you prioritize it over other products in that niche?
Or, maybe you don’t. You can still think something is a decent buy without it being your all-time favorite. If you have any personal experience with a product, whether digital or tangible, be sure to talk about it.
It’s okay if you don’t. You can’t own hundreds of treadmills, but you can still review them based on the features they offer. When it comes to other peoples’ experience with a product, you can discuss how consumers feel about it.
For example, instead of quoting someone’s review, you can simply say something like, “Some people have complained about the tread not being cushioned as much as they like it.”
Get Affiliates Working for You
On the other end of the profit spectrum is for you to recruit affiliates whenever you create a product as a vendor. Not only will you earn a good deal of profits from these sales, but you also increase your income because these buyers will get on your list, where you can promote to them as an affiliate in the future.
Digital info product courses are a great thing to create for others to promote. You can create full eBooks or video courses with modules that buyers can log in and access to absorb your insight and advice.
Membership programs might also be a viable income option. For example, if you’re in the online marketing niche, you might develop a private label rights membership or a printables membership that affiliates can promote.
Software or tools can be great creations to launch if you know how to make them. Things like cloud-based software or plugins for their blogs are in-demand items you can earn a lot from, even if you have to outsource the development of it to someone else.
List your product on a platform where affiliates can find you. If it’s a digital product, that usually means ClickBank, Warrior Plus, and JVZoo. Some vendors even create courses on sites like Udemy and elsewhere.
Have a list of top performing affiliates and niche leaders that you can approach to get them onboard for your launch. You can check out blogs, look on social media to see who has a following, and check leaderboards of previous launch contests to create a digital Rolodex of contacts.
Create a unique and value-driven product their list is sure to love at a price point the affiliate will feel is acceptable. Ideally, you’ll have a funnel they can promote so that their potential earnings (and yours) increase.
Give them a JV page that helps them ready a strong promotion for you. Make sure you include readymade swipe emails they can copy and paste into their newsletter and on social media, too.
Keep the money coming in with follow-up products they can promote to their buyers. If your promotion converts well for them the first time, they’re going to want to promote for you again.
You don’t want to put too much time in between the first launch and subsequent ones because then many affiliates (and their subscribers) will forget who you are or that they enjoyed your first product.
See If You Can Add Coaching to Your Income Stream
Coaching isn’t something that works in every niche. And it’s not something you may feel comfortable with. But for those where it does work, it’s a great way to have high ticket offers that really boost your earnings.
Look to see if coaching is something people would appreciate in your niche. This really isn’t much different from you putting out an info product. The only main difference is that you tailor your advice to be a solution based on each individual client’s needs.
You can coach people in niches such as relationships, career success, mindset, nutrition, finances, and life in general to name a few. There are even some people who hire coaches to help them become better parents or pet owners.
Your coaching classes can be done as one-on-one sessions with clients or in group sessions, if they want to save money while you guide them as one entity rather than personalized solutions.
You’ll need to know what your clients expect to gain from their sessions with you. Usually, it will include some form of advice that helps them feel more capable and empowered.
There is usually no specific certification you need, but if you plan on getting into something like weight loss coaching, you can add certifications that lend credence to your leadership if you prefer.
It will be your job to help your clients set achievable goals and then walk them through the steps it takes to accomplish them. You will be motivating them along the way and helping them get or stay on track over time.
There are many ways you can develop your own coaching system. Unlike counseling, which includes more of a back and forth discussion between counselor and client, you will have a core lesson plan that helps your clients achieve the goals they set for themselves.
You might have certain tasks they have to try in order to reduce stress, or an exercise that helps them learn how to track their money and improve their finances. Take a look at your competitors to see what kind of coaching they offer and ask yourself how you could improve on that offer.
In order to see if you and a prospective client are a good fit for one another, you might consider offering a free consultation session before any paid sessions are booked. Then, instead of visiting in person, you can have your online sessions via Zoom or another video service that lets you chat with your client.
Tapping into a niche for profits is something you have to do on an ongoing basis. It’s not something you do one time. You’ll be finding all kinds of ways to add revenue to your bottom line, but you need to keep your eyes open for opportunities you may not have considered.