In video #5 in our How To Start A Successful Blog And Make Money series, we take a niche competition test and learn why ‘the more the merrier’ can be a positive indicator.
A common misconception among new marketers is that if there is a lot of competition the niche should be avoided. On the contrary, more competition indicates that the market as been active in educating the public about these products and more an more marketers are trying to take advantage of, and profit from, a more knowledgeable consumer base.
Then, too, with a larger market you have more opportunities to study your niche competition – what are they doing, how are they doing it, etc. You’ll want to be learning as you go and provide value to your potential customers even as you make your products available for sale.
One excellent way of discovering your competition is to use a source like Buzzsumo. With this tool you can see what content is performing best in your chosen niche. Keep in mind that Buzzsumo is not a free platform, though you can do some initial searches at no cost.
Type in your niche in the search bar an you’ll be able to see the most popular articles and the blogs from where they originated. Popularity is measured by the number of Facebook, Pinterest, LinkedIn, Google+ and Twitter shares. Scrolling down the list, you can click on each article, read it, and try to determine why these particular articles stand out from the crowd.
What do these articles have in common? Are they over, say, 750 words in length? Do they include infographics or compelling photographs or artwork? Are there any reputable sources quoted? Does the post include a video variant as an addendum, or a respite for those who would rather not wade through a longer article? Do the headlines ask a question, promise to solve a problem or promise a bit of controversy? When it comes to niche competition, these questions, and others, might help you begin to frame your posts for garnering optimal interest in your blog.
In video #6, we’ll take a look at niche product possibilities and determine whether your top choices can also result in profitability.