How to choose your niche for your digital product business

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When it comes to growing and monetizing a digital business, the niche is the first important thing that you need to get right.

There are 2 things that you need to consider when choosing a niche.

1. Will I be able to get enough views

2. Will I be able to monetize effectively

Usually, the best niche to choose is one that you have an interest in. Whatever your skills and interests are, there is usually a way that you will be able to monetize it.

Choosing a niche that you have an interest in has obvious benefits such as that you will be able to come up with content ideas more easily, it will be easier for you to create paid products and that you will actually enjoy it.

Sometimes, you won’t know how to monetize. The easiest thing you can do is to look for accounts in the niche on Instagram, twitter, linkedin, Tiktok and Youtube and to see how they are monetizing.

If you can see that there are accounts in the niche that are monetizing well, you can be confident that you will be able to make money from it.

However, in the situation where you have absolutely no clue how to monetize, here is an easy option that works 99% of the time.

You create a blog, you grow an email list, you send traffic from the email list to the blog and then you monetize the blog with ads.

I will go into a lot more detail about this in a future email.

However, here is the short version.

To grow the email list, you post content to social media (twitter, linkedin, instagram, tiktok, pinterest, facebook, ytb) then you direct that traffic to your email list by using a lead magnet.

The lead magnet is something that someone will get in return for signing up to an email list. It is what I used to get you onto this email list (the ig growth guide probably).

Basically, the trick is to come up with a content system that allows you to efficiently create content that you can post across your social media channels, then you just focus on getting the content made each day. This can be done quickly with the right system.

I recommend that you specifically start with Instagram because it is the easiest channel to grow on and monetize. When it comes to growing on Instagram and creating an efficient system for it, I go into full detail in the Digital Creator 2.0 course.

When it comes to monetization, you write blog posts then send the traffic to the blog posts from your email list. The way you monetize is by showing ads on the blog post. You get the ads shown by using an Ad network like Mediavine or Raptive.

Generally, you can expect to get $15 to $40 per 1000 people that view your blog posts. The earnings depend mostly on the niche of your audience, the age of your audience and the countries that they are from.

So, if you have an email list of 10,000 people and you are able to send 1000 of them to your blog, you can expect to earn $15 to $40 daily.

Getting an email list of 10,000 people is not that hard either. Just from Instagram I am currently getting about 150 sign ups per day to the newsletter you are reading right now.

If you want to supercharge your progress, you can use ads. But, I would focus on getting a good content system setup first and monetization then add fuel to the fire by getting people from ads.

In the case where you are not confident that you will be able to grow a large following around your interests, the next best thing to do is to simply browse social media and just look for accounts that are in niches that you have at least somewhat of an interest in.

The easiest way to do this is by looking at your youtube history and look at the videos you have been watching. They are usually good niches for you to enter.

When it comes to creating your pages, you can also choose to do it faceless.

There is a major advantage that comes with doing it faceless and that is that it will be a lot easier for you to sell the business later on since it will not be directly tied to you.

However, you won’t get the benefit of people wanting to hear what you specifically have to say like you can with a personal brand page.

Personally, I am taking the approach of having a personal brand newsletter and a separate niche newsletter.

When you have the content systems setup it is not that difficult to run multiple newsletters.

Personally, I think the best thing for you to do is to look for accounts that talk about your interests, look at how they are monetizing, then start building up a newsletter around that niche.

You can adjust as you go. Don’t get caught up in analysis paralysis like most people and never actually get started.

Ok, I think that is all for today. I will see you next time.

Dan