How to Find Hot Niche Markets
If you are serious about making money online, you better wrap your mind around the concept of niche. Otherwise, you are simply going to be chasing your tail trying to sell stuff online. People that simply sink into a marketing grind rarely succeed online.
However, people who focus on niche marketing ideas and take rifle shots as far as their promotion efforts are concerned, have a higher chance of succeeding.
If you want to make thousands of dollars every single month on a passive basis, you need to understand how targeting certain niches can get you there. The good and bad news is that not all niches are lucrative. There are certain niches that are very obvious, but they do not pay as much. Also, there are topics that are so competitive that it is really going to take a lot of dollars and effort for you to make a dent.
If you want to truly make money, you need to focus on hot up and coming niches. These are niches that have a huge audience, but they are relatively new, so there is not enough competition yet.
By being the first at the scene, you can establish your online properties as the pre-eminent brand that caters to those niches. This gives you a tremendous competitive advantage and increases your likelihood of enjoying a nice online income.
Now that I have opened your mind to the idea of using hot niches to build your online businesses, this begs the question of how do you find hot niches. The good news is one of the most powerful social media platforms on the planet, Twitter, can be an effective niche-finding tool. Here is how you do it.
Find Niche Specialists
Regardless of the niche that you are interested in, there is bound to be at least one person on Twitter that is already following that niche. This person is either sharing news regarding that niche or networking with other people who are interested in that niche. Your job is to find those people.
The good news is that there are many tools like followerwonk.com and others that enable you to use certain keywords that are related to your niche to zero in on these Twitter accounts. Once you find these accounts, you need to scrape their tweets.
There are also software packages that you could use to scrape the content of their tweets. You would notice that their tweets would often have certain new words that you have not seen online before. This is a powerful clue because these jargons can actually be very powerful and lucrative keywords that you can use for blog posts, domain names and brands. Pay attention to new words or jargon that might be worth a lot of money in the short-term future.
Find Trending Hashtags
The other way to find hot niches is to pay attention to hashtags. Hashtags are organizing tools used on Twitter that people make up when they are following certain trends. Pay attention to trending hashtags because if it has enough volume and it is persistent, it might actually lead to a trend that might be quite lucrative.
Look at the hashtag and do a domain search engine optimization. See if there is a domain registered using that hashtag. If not, you might be able to flip that domain for thousands of dollars in the mid or long term. Beware here is a caveat though. There are certain hashtags that are flashes in the pan. They were popular for a brief period of time and then all of a sudden they are no longer popular.
It is also a good idea to look at hashtags as sources of inspiration for domain purchases. There may be trending hashtags that might make for great domain purchases. Do not get too greedy though. If you get a bid for $5,000, it is probably a good idea to dump that hashtag-based domain because people might get a clue and the price might not stay that high for long.
If you are stumped as to niche ideas, one of the best sources is Twitter. Use the techniques above to get on the inside track for hottest trends in new niches.