Flex Green Blog
17Oct/11Off

Membership Niche Selection Tips

In order to make sure your membership business is profitable, you have to select the right market. Here's how.

Step 1 - Find a Fanatical Market

The number 1 thing you have to do is find fanatics if you want a profitable membership website. What's a fanatic? It's someone who is so excited about a certain topic that they will spend their time and money on information about it. Here's how to find fanatics:

  • Here's something you may not have considered - magazines! We're so internet-based these days, it's easy to forget about them. In today's economy, running a magazine is tougher than ever - some of the best ones are going out of business. So if it's on the shelves, it's making money, which means there is a big market interested in this topic. This is a very good indication that it's a good niche for you to go into.
  • Pay attention throughout the day in your regular activities. See what people are talking about on the radio, TV, at parties, in public, etc. People generally talk about things they are interested in. Which means you can start a membership business providing information on it.
  • Again, looking in the physical world for clues you can tell there are lots of people interested in something if there are clubs and organizations around the topic. Conventions are expensive to hold and attend, so if one if going on that's another strong indication of a good niche to go into with your membership website.
  • Think about the things that you are interested in. There's a good chance that others are interested in these things, as well. And, as an added bonus, it's much more fun to build a business around things you're interested in.
  • Google Trends. This is a great way to figure out what people are interested in. Google Trends tells you the most popular current search terms. The reason people are searching Google for info on these topics is because they are interested. And the fact that it's made it into Google Trends tells you LOTS of people are interested. Building a membership business around things people are actively searching for is a great way to ensure your success.

Second - Analyze the "commerciality"

After selecting a possible niche to build your membership site around, the next step is to find out if it's a profitable niche to be in. An easy way to determine this is to figure out if anyone else is making money in this niche.

OK, how do we figure that out?

  • First go to Google and type in the name of your niche followed by "blog" and "forum". If there are blogs and forums related to it, that's a good sign. This means there is a large group of people already assembled for you to market to.
  • See if other people are creating and selling product in this niche by searching in Google Shopping, ebay and Amazon. What you're trying to figure out is if anyone is making money in this niche, and if people are selling products it means they are making money.
  • Watch Google Adwords for a period of time and look for ads the run again and again. Adwords ads are expensive, so people only run them repeatedly if they are profitable. And to be profitable, they have to be selling products and making money.

Step 3 - Determine ease of entry

After figuring out a good niche and determining that other people are making money in it, the last thing to do is decide if you will be able to enter the market. Here's how to make this determination:

  • Product types. What kind of products are being sold in the niche? You're looking for a niche that sells info products. That's because it's much easier to build a membership business around information vs. any other kind of product.
  • Competition. How many other people are trying to sell to this market? You want to start in a market that's not completely saturated with competitors.
  • Compare the size of the market versus the number of competitors. Some competition is a good sign - just make sure the market is big enough for you to join in.
  • How ready is the market for marketing messages, and how willing are the fanatics to buy. Some niches are made up of people who require lots information and have a very long lead time, and some markets are filled with people who will spend lots of money right now.

Putting it all together

OK, now that you've figured out what niche you're going to go into. Determined there is money to be made and that the competition is not too strong to break into it. You're ready to start your membership business. If you've done your homework, your business will be a success because you already know your market is a profitable one with room for you. Learning how to run a membership website is a topic for another article...

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