Sadly, many online entrepreneurs are right on the cusp of success, but who walk away without realizing that a few easy tweaks could mean the difference between being broke and watching the sales come rolling in.
For many, it is a simple case of failing to monetize their sites! You would think that would be an obvious slip up to avoid, but they get so focused on ranking in search engines and building their list that only when it is pointed out to them do, they realize they have forgotten to include links to products will earn a commission.
And the sad thing is that most people put their own product creation on the back burner for the day they have accumulated a healthy list so that profit-pulling potential is lost on them.
Some do not know how the money is supposed to come to them, so it is important to understand how you can monetize a niche before you get too deep into the process that you pick something that may not have many ways earning ability.
Tangible Niche Profit Potential
One of the easiest ways to earn money is to be the go-between who connects consumers ready to spend money with products that will ship to them from an online retailer.
The best example of this is to think of what all is sold on Amazon. An Amazon affiliate, called an associate, can earn money from a consumer’s purchase on their site. So, if you are in a niche like toys, for example, you would be writing product reviews for your blog about toys being sold on Amazon and use your affiliate link to link to it.
Other sites, such as Target, Walmart, and others, promote tangible products as an affiliate. There are a few ways you can promote. Using text hyperlinks is one way, but you can also hyperlink images of the products back to the site.
You do not have to link to an individual product either. Most sites have ways you can link to the entire store, or in the case of Amazon, you might link to a search results page within site or even to a bestseller’s list of the items.
Amazon even has a carousel option where it rotates the products being showcased and gives you another way to capture the consumer’s attention who landed on your blog.
Whenever you are in a niche, think of all the tangible ways you can make money from them. For example, even in the most digital niche of online marketing, you can promote tangibles such as laptops, PCs, desks, video recording equipment, success books and more.
Tapping into a Digital Niche Income
Digital income from a niche is often higher than that of tangible products. This is primarily because digital courses are often priced higher and offer an increased rate of commission.
So, if you go to a site like ClickBank, for example, you can look up your niche and find online courses or memberships that your readers might like. For example, if you are in the diet niche, you will find all kinds of digital courses that target a certain audience – women, those who want 6-pack abs, people over 40 and more.
You can also find courses on sites like Warrior Plus, JVZoo, Udemy, Teachable, and more. Also, you can create your own info products to make money without being an affiliate.
Promoting Digital Products
When you create or promote a digital product, it should be something that answers the questions or guides your audience in whatever help they need. You will probably be getting questions from subscribers over time you can use to create a digital course.
You can also look in forums to see what people are asking, check the comments section on YouTube videos or in Facebook groups and see what blind spots people have and need attention.
There are digital products at different income levels. Some will be super cheap, such as a $7 eBook designed to answer the most basic questions and help the vendor build a list.
Others will be medium-priced, such as a $47 course that serves as the first step to help people achieve their goals. It is usually a hands-off vendor with these lower ticket items who aren’t likely to implement the ideas.
Higher Ticket Items
As you move up the tiers, you will find higher ticket items, such as a course that sells for $197 where it may provide some “done for you” content or a service that is provided to the buyer so they can skip the learning stage and have their needs met on autopilot.
And lastly, there will be high ticket items such as $5,000 one-on-one coaching that works as a hybrid with a course that acts as the customer’s foundation, with handholding by the vendor in several direct communications.
If you are an affiliate promoting digital products, make sure you vet the vendor before sending your people to them. If you send them to someone for the sheer sake of profits, then they will lose trust in you and refuse to spend their money in the future on your recommendations.
Finding Niches with Dual Profit Potential
Whenever possible, try to home in on a niche that has dual profit potential. That means it is ripe for plenty of tangible and digital profits. For instance, it is mostly tangible with toys – most parents are not going to pay for guidance on which toy to buy.
And with marketing, it is mostly digital. Most marketers have a laptop and desk and are not going to be buying a ton of tangibles. But many niches serve an audience both kinds of products, giving you ample earning opportunities.
Survival is a good example of a niche with dual profit potential. People like to learn strategies such as creating a homesteading garden, self-defence techniques, food, and water storage and more.
Those make great info products you can promote or create for that audience. But to implement your advice, they will need tangible items, such as gardening equipment, defence items like stun guns, rain barrels and MREs (meals ready to eat), etc.
Anti-aging is another dual profit niche. The anti-aging niche covers a wide range of topics – like skin care, mental acuity, mobility, heart health and more. So those make good digital course topics.
But the consumers also want tangible items, such as wrinkle cream or exercise equipment that can help them improve their longevity and stave off disease or mobility issues.
The diet niche is another great dual profit-pulling topic. Consumers devour books and courses about losing weight, shed fat and tone up or build muscles. They want to look good and feel fit.
Those are wonderful digital topics for you to write about, make a video course on or promote by someone else. But you can also promote tangible items that will help them. Those include things like food or weight scales, meal deliveries, dumbbells and more.
Keep in mind that even if you have narrowed your niche to a specific topic that is only tangible or only digital, you still have the opportunity to periodically promote the other items because it’ll be relevant to the other topic.
For example, let us say you build a product review site for survival water filtration systems and you review things like rain barrels and other items a prepper would need for this aspect of homesteading.
You can still introduce a digital product to do it because it is relevant. After all, your list will not feel as if it is a disconnect. Now if your site was only about digital topics on preventing wrinkles and you suddenly introduce a review for a mobility scooter, that might not be as relevant as a product such as age spots, which is also a skin-rejuvenating topic or product.
Just ask yourself how relevant it would be to your audience and not stray too off track from what they came for. You do not want your site overly muddled to tell what the content is supposed to be about.
Is Selling Space or Subscribers a Smart Move?
Some newbie marketers mistakenly think the bulk of their sales will come from selling ad space on their blog. They start out using systems they set up where ads are displayed by companies on a regular rotation and move up to taking orders from people who want to put a specific ad in a space on their blog.
Using an ad system is a way to earn a little bit, but it will not be enough to support you financially until your blog gets widely popular. It also depends on the niche that you are in, so if ad revenue is the business model you are considering, think about that, too.
There are many areas where you can sell or rent space on your blog. Right below the header image is a premier spot. If your blog is popular in a niche, they will want this prime spot so that their banner ad gets noticed.
Another area in the sidebar of your blog. The higher spots will be worth more to the person renting space than the sidebar’s lower parts. But this is a space where you normally could have your own opt-in and promotions.
Some people will want to rent space out by purchasing an entire blog post – either written by you to promote them or written by them, submitted for approval and placed on your blog by you for a fee.
You can also rent out solo ads to your subscribers. This is a risky business because you do not fully vet the person purchasing an ad going out to your list. You are also not making as much money as you would if it were a direct affiliate promotion.
Take a lot of care with your subscribers and try not to sell emails going out to them or sell the entire list to someone if you move on from the niche. These consumers made a conscious decision to hand over their name and email address to you because they liked what you said and trusted you.
They were not signing up for someone else’s list, and when you hand over their contact details, that is a sign of poor ethics in this industry. They will often be able to tell who sold their name because of the way they signed up to your list, too – so it can sour your reputation quickly.
Zeroing in on Recurring Payments
Many marketers fail to realize that the profits you earn do not have to be one-time commissions. If you are strategic with it, you can promote on-going affiliate programs that send you a check or payment month after month for as long as the customer stays in the program.
They range from small ticket to big-ticket items. Some renew monthly, while some are annual renewals. Some will be software programs or tools they will need, like hosting – while others might be for membership for training and information.
You can even find some in other niches like those that have subscription boxes. The pet niche has some recurring payment options, where people buy monthly subscription boxes for their dog or cat.
There are diet meal plans sent out (some are digital programs while others are the actual meals) weekly or monthly. These can earn you an ongoing commission.
The survival niche and beauty niches also have these recurring income options. Type your niche topic into a search engine, add the words recurring income and affiliate program and see what you can find.
You might not find any, but you might be able to find some high-ticket items that make you a good amount of money as an affiliate with a single purchase. Having a mix of profits coming in helps ensure you will not be left in a lurch if one of them falls through.
Monetizing a Niche
The process of monetizing a niche is not complicated. Most people fail to forget to put the elements in place (such as affiliate links) to earn them money. You must actively think about each blog post, every email, and each post and how it can help you earn money.
As time goes on, make sure you are analysing the results of your efforts. You might find that your readers respond overwhelmingly positive to a certain vendor over another one, and you will want to check and see if they have a line of products that you can promote.
If you do not check the results of your monetization efforts, you will not be spending your time wisely. You may be giving space to something that does not convert well for you at all. With simple, quick tweaks, you could alter that to a flow of commissions coming your way easily.
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To your success