Niche Selection Guide: Why Pest Control Could Be Your Next Profitable Venture
Choosing the right niche makes a huge difference in attaining long-term success. While some niches…
In this report, you will learn:
Market trends
How to pick a profitable sub-niche
How to make money in this niche
Sub-niches and micro-niches ideas
And more!
Section 1.
In this section, you will learn some market insights.
The coaching niche market was valued at $15 billion in 2019, with a total market value of $7.5 billion in the United States. The market value is estimated to reach $16 billion by the end of 2022, with an average annual growth rate of 6.7 percent from 2019 to 2022.
Due to digitalization, online coaching is one of the most profitable and growing markets in recent years. Moreover, online coaching is expanding rapidly due to the use of technologies and portable devices, making online education easier than ever.
Also, online coaching makes it easy for students, entrepreneurs, and anyone wanting to improve their knowledge regardless of where they are located, which is one of its most attractive features.
Online coaching platforms have created a great opportunity for both coaches and learners. Where coaches just need to select or create a platform to teach, and learners can choose a course according to their needs. However, the growing competition in the market, the lack of genuine certifications, poor coaching quality, and some other factors can hinder the market growth. So if you are an entrepreneur willing to create an online course to teach your audience, you’ll need to make sure you address these common issues to prepare your course for success.
What is certain is that the coaching niche market offers a great opportunity for expansion and growth for entrepreneurs in any niche since this business model works well in conjunction with any other monetization method.
Lastly, I suggest looking at this post to understand better what a niche market is and how to take advantage of it.
Section 2.
In this section, I will analyze the current trends in this niche.
Market niche trends can help you identify how a market is doing. In addition, they allow you to see the interest in a certain topic over time.
When analyzing trends for a niche, it is vital to study the interest over time- If the interest fluctuates a lot with periods going down to zero, it normally would be a bad sign. However, if the trend stays up and is stable or growing, it could be a good sign. There are other factors to consider as well. More on this later.
I will use the Google Trends tool to analyze trends in the coaching niche. When using this tool, there are a few distinctions to take into account:
‘Topics‘ can be great to find out the interest of people in a niche. The idea would be to use ‘topics’ to find niches that are worth pursuing. Then, you should use ‘search terms’ as the first step toward content creation. This will help you understand if it is worth creating content on a given term based on current trends.
For this report, I am analyzing the topic ‘Business Coaching.’ Then, I have set the location worldwide and filtered it by the past five years.
Overall, this trend seems to keep growing by the year. Although it suffered a small drop by 2022, this trend is projected to keep growing in the upcoming years.
By looking at this graph, one could think that a coaching business could work based on the trend numbers. However, to avoid fierce competition in this niche, you should niche down and find sub-niche and micro-niche ideas.
So how do you find profitable sub-niche and micro-niche ideas with fewer competitors? With proper niche research. But we’ll get into that in the following sections. For now, you can read in this post all the advantages of niche marketing.
Lastly, you can also find useful information below the Google Trends graphic, such as related topics and queries. These could provide you with great insights into which coaching niche you could choose or relevant topics where people will be interested.
For instance, “business coach for women entrepreneurs” seems like a great niche opportunity. So keep an eye on these suggestions since they might give you the idea you were looking for.
Section 3.
Learn how to find a niche step by step.
There are many methods you can use to find out exciting sub-niches ideas. The simplest one might be a combination of Wikipedia with Google Suggest to find ideas. Then you can use Google Trend to validate your plan.
This is how to do it:
Step #1. Head to Wikipedia, and in the search bar, type your niche keyword and hit search.
Step #2. Skim the page for sub-niche ideas. You’ll be able to find plenty of coaching-related keywords along with the Wikipedia page.
Some places to look include the table of contents, content itself, and the “see also” section at the bottom.
Step #3. Next, you can complete these sub-niche ideas or get some more with Google Search. Head to Google.com and enter some of your niche keywords. Google will instantly suggest some sub-niches for you.
This is a very effective and easy trick to find sub-niche and micro-niche ideas quickly.
Step #4. Lastly, use Google Trends to validate your niche idea. For this example, I will check “life coaching courses.“
The graphic below shows how this trend is very stable overall. This is a good sign and all we need to focus for now. I’ll show you how to check competition in the next sections.
Lastly, you can also include in the Google Trends search bar some of the ideas you found to compare them. For this example, I have used lifestyle coaching, business coaching, and online coaching fitness.
As you can see, there is a dominant interest in “life coaching” and “business coaching.” This will probably mean they also are more competitive. It is important to note that having the higher number in this graphic is not necessarily the best idea. This is about checking there is enough interest and that the interest it stable or growing, and not decreasing. So do not think online coaching fitness is not a great niche idea only because the other terms have a higher interest.
Normally, the higher the interest over time, the higher the competence as well. So it is vital to find a sub-niche or micro-niche in the sweet spot between search volume and commercial value. So in order to decide which is the best of all these options for us, we’ll need to continue with niche keyword rearch, but we’ll cover this in the next section.
For now, I suggest you check micro niche blogging in 10 practical steps to make sure you choose the right micro niche.
Lastly, note that trends that are just starting to grow can be the ones with the most potential for new sites. It could be a new market blooming, meaning the competition is inexistent or limited.
So do not drop ideas only because trends show low numbers. If the trend’s interest grows exponentially and gets stable, it is probably worth pursuing.
Section 4.
In this section, you will learn how competitive this niche is and its opportunities.
As in any niche with demand, competition in the high-level niche can be harsh. Big corporations typically dominate the internet for competitive terms in popular niches. And entrepreneurs like us simply don’t have the resources to compete against them.
That is why sub-niches and micro-niches are much better options- The more you niche down, the smaller the competence. But if you go too niche, you might face another issue: That the market might be too small.
The only way to know is by analyzing keywords directly related to your sub-niche or micro-niche ideas. This is how you’ll see if the main keywords you want to target are too competitive or if there are still opportunities with less competitive terms.
To perform keyword research, you will need access to an SEO tool. Here you can find how to do it with Keysearch and SE ranking.
For this section, I will use SE Ranking, which provides a 14-day trial, so you can do the same. You can refer to my niche keyword research post for more details.
For this example, I will check the competition for “life coaching.”
To have an idea about the overall competition in this niche, we’ll look for this exact term with the SEO tool.
As you can see from the image, this term difficulty is “difficult,” with a great search volume of 49.5k and $2.88 CPC
But what does this information really means?
This initial search is just is to have a quick overview of the potential market regarding search volume (interest) and the difficulty of this niche. By checking the exact niche keyword, you can quickly learn how competitive a term is and also have an idea about the audience size. But ultimately, you still need to check your niche competitors in detail to better understand your direct competitors.
In summary, this initial search is to find out how competitive the main keyword is. Then, you’ll need to narrow it down to find less competitive keywords.
Once you have checked your niche competitors and assessed the competence level, you can easily find profitable niche keywords with low competition and a decent search volume with a few tweaks:
Step #1. Search for your niche keyword using your SEO tool. For this example, I’ll stick to the previous example, ‘life coaching.’
Step #2. Next, filter the results to find less competitive keywords. In my case, I want something with a search volume over 100 and difficulty under 39. Then click on ‘Apply filters.’
Step #3. Now I have a list of 386 keywords with a lower difficulty score and great search volume, even for such a competitive niche. But the work does not finish here. After gathering all the related keywords for your niche, I suggest you create an excel table and include only the most related keywords to avoid ending up with a list filled with keywords you don’t need.
Looking at this example and the keywords found, you could easily assess if you can find enough topics to create a profitable business in the life coaching niche.
You might and should run different search queries looking for related terms to make sure you’ll find enough keywords to drive your traffic and ultimately make money.
In summary, this list shows that with the right keywords, you could create a profitable niche website even in a competitive niche. You just need to find those less competitive terms and create amazing content.
Resources:
Section 5.
In this section, you will learn different ways to monetize this niche.
There are several ways you can monetize your coaching niche website.
But what works best is to adapt your strategy to the user intent. And the coaching niche clearly works better if you offer your services or if you provide online courses.
The idea is to adopt a solution to your audience’s problem in the best format. Also, most of the time, online businesses adopt more than one monetization method.
I suggest you check this post about niche blogging to learn how to create a niche website step by step with tips to monetize it.
Some methods you can use to make money with the coaching niche are:
Services can be a lucrative way to monetize coaching niche websites. In fact, big money in this niche is on service providers offering career coach, business coach and others.
Clearly, regardless of the sub-niche or microniche, the end consumer will likely be looking for coaching on a specific topic.
Also, some of the services might be presential, but you could deliver many others online. For this, you just need a platform like HeySummit with registration and ticketing. This is probably the easiest and most effective method to run online events with all of the customization and flexibility you need to provide an exceptional experience for your audience. You could even create online courses to help a targeted audience by providing valuable training.
Some website examples that monetize by providing coaching services are:
Resources:
Products in the coaching niche are also a popular solution to make money online.
For instance, some products you could create are:
When you present the right product to the right audience, products can be the easiest way to start making money. They also allow you to earn a passive income when you combine them with an evergreen sales funnel.
Some coaching sites examples selling products are:
Resources:
Subscriptions and memberships can make a great alternative to monetizing your website.
Subscriptions are based on delivering extra value to your readers. This could be access to a premium section, delivering new content only to subscribers, and things like that.
Also, you can get recurring income from memberships. But you need to keep providing value to your readers constantly. This could be by delivering relevant content in the form of a magazine, weekly videos, podcasts, or something valuable to your readers.
You can also provide exclusive video or podcast access to your subscribers. And the best thing is that you simply need a plugin like MemberMouse to create subscriptions and memberships effortlessly.
Some website examples using these methods are:
Ads used to be one of the most common ways to monetize websites. However, there are some downsides to them:
Having said so, many businesses use ads as their primary source of income. You could use platforms like Google Adsense, Media.net, VigLink, etc.
In any case, you could place ads just for extra income rather than the primary source of income.
Resources:
This is my favorite method to make money online in any niche. Although affiliate marketing might not be the most obvious monetization strategy, it can always work great in parallel with your primary monetization method.
Also, affiliate marketing might need some time and traffic to get traction, but you will earn a passive income when it does.
All you need to do is to sign up for the best affiliate programs in your niche. Then, I suggest you read how to make money with affiliate marketing, and you will be ready to monetize your site with this method.
Resources:
Section 6.
In this section, I will provide you with some profitable niche ideas.
After putting into practice what I have explained in this report and researching some keywords, I have collected a list of sub-niches and micro-niches in the coaching niche that can do a great online business.
I personally recommend focusing on sub-niches or micro-niches where trends are steady even if the volume is not high since they probably will be the ones with fewer competitors—that is why niche blogging is so powerful. You will monetize more easily and faster if you find good enough keywords.
Lastly, what makes a profitable niche is the commercial value behind the keywords you choose. So if you just choose keywords without commercial value which are more informational, you might struggle to generate an income (although you can still do it.) You will also need to do thorough niche keyword research and develop a list of keywords and then plan your content creation strategy thoroughly if you want to succeed.
Micro-niche ideas:
Interest by regions:
Recommended monetization methods:
Micro-niche ideas:
Interest by regions:
Recommended monetization methods:
Micro-niche ideas:
Interest by regions:
Recommended monetization methods:
Micro-niche ideas:
Interest by regions:
Recommended monetization methods:
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Now it’s your turn!
The coaching industry keeps growing each year offering lots of new opportunities to new entrepreneurs. I suggest you focus on some of the micro-niches ideas in this post to increase your chances of succeeding.
Going sub-niche or micro-niche, you might have fewer customers, but your audience will be most likely to find you. This will also help you grow your website authority faster and start making money quicker!
If you have any questions leave a comment below.
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