Are you planning an online business? Maybe you’re thinking about starting another project, or perhaps this is your first venture into online business. Whatever your experience with internet marketing, choosing a new project begins with research on trending niches.
The key to choosing a good product or service to promote is finding the right niche. A niche is a subcategory within a broader category of products and services. You’re looking for a niche that doesn’t offer massive competition.
Niches with lots of competitors are difficult to dominate, requiring large marketing budgets to rise through the search rankings. We recommend avoiding these niches if you’re starting online.
#1 Pharma and Health
This industry is one of the toughest nuts to crack in online marketing. There are thousands of relevant keywords, and most of them cost a fortune.
For a powerful buying keyword, like “buy the best CBD,” you can expect to pay more than $25,000 in AdWords fees each month. However, the results are amazing, and you could get in millions of dollars in revenue if you target the right keyword.
However, it’s expensive to run this kind of budget and not practical if you’re a newbie.
#2 Weight Loss
Weight loss is another subcategory of the health and fitness niche. Keywords are expensive, and competition is everywhere. You have to purchase long-tail keywords to keep your budget down and do plenty of guest posting to drive traffic to your landing pages.
However, if you find a profitable keyword and traffic starts flowing to your site from your SEO efforts, expect to make a minting. The weight loss niche is one of the most profitable online, and you can expect monthly commissions in excess of a million dollars.
#3 CBD Products
CBD is a trendy health fad, and it’s gaining steam across the world as alternative medicine. CBD is a competitive niche, and many ranked affiliates are earning millions of dollars in monthly commissions.
With this product, you need a comprehensive content strategy and plenty of promotion – and both cost plenty of startup capital.
#4 Online Casinos
According to Casino Robots, online casinos are one of the toughest online markets to penetrate. There’s tons of competition from casinos with large marketing budgets and comprehensive SEO strategies. You’ll need a team working around the clock to rank your site, and it costs a fortune to purchase keywords.
However, if you run a casino, spending the money on marketing is the best investment you can make in your online growth. With the right keywords and a talented marketing team, you’ll see your suite rise through the search rankings.
#5 Payday Loans
Millions of Americans search for payday loans each money. There’s big money at stake in this business, and it has a cut-throat mentality that requires time and money to succeed with your SEO strategy. However, with the right keywords and backlinking strategy, you can make a minting.
Don’t expect overnight success, even with a large marketing budget. There are plenty of casinos out there doing everything they can to elevate their business in the search rankings.
#6 Real Estate
Real estate is a thriving market with plenty of competition from realtors and companies. Creating a reputation and brand in this market is challenging, and it requires a significant investment of time and money.
However, realtors in it for the long game have extensive budgets. Provided your company didn’t take a hit with the COVID pandemic, you could be in a market right now where you can expand while others retreat.
#7 Legal Services
Promoting legal services online and driving traffic to your site with SEO strategies is challenging. The legal industry is thriving online, and with so many practitioners, it’s challenging to make yourself relevant in search. Fortunately, most law firms have access to extensive budgets for guest posting and link-building.
#8 Mortgages and Loans
Home loans and mortgages are another cut-throat business where every tenth of a percentage point matters in your interest offer. It’s a competitive market with plenty of players. To win at the SEO game, you’re going to need plenty of money for your SEO strategy.
#9 Insurance Agencies
Insurance agencies are behemoths with unlimited spending capital for marketing. Trying to compete against them will be a nightmare and cost you a fortune. Insurance companies have deep pockets, and they hire teams of experts to help them rise through the rankings in search.
#10 Internet Marketing/ SEO Services
SEO and marketing services are in high demand online. All the above niches hire SEO experts to manage marketing campaigns. Therefore, SEO is another competitive niche you should avoid when selecting your new online business.
However, if you’re an SEO firm, then chances are you’ll be doing your marketing and SEO campaign yourself, saving you money – but there’s always the commitment of time involved with the campaign, and time is not free.
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