Single or Dual Profit Potential
The next thing you want to consider when thinking about which niche to pursue is whether you want to target a single profit niche or one with dual income potential. First, you need to know the difference.
There are two ways you can earn from a niche. Digital is one way. Digital profits can include things like eBooks, video courses, subscriptions, coaching, and other products that are downloadable or online-oriented.
Tangible profits are the second way to earn money in a niche, and this includes anything where the customer purchases an item and it’s physically mailed to their home or office.
So you could definitely target niches where one or the other is how you’ll earn. For example, a good digital niche is online marketing. People buy courses and coaching to learn the ropes.
But with tangible niches, you’re ordering things. So a good example of this might be toys or home décor. These are items your audience needs to have in hand to benefit from, so you can make reviews and recommendations on what they order.
Some people find digital products easier to review. They can instantly download them to write about them. Or, they may be able to secure review access as an affiliate and not have to pay for the item to review it.
With tangible products, you’re certainly able to review it with information that’s out there, but you won’t have it in hand to try out yourself, unless you buy it. So the investment may be bigger for you.
One thing you may want to do is target dual profit niches. These are niches that have potential for both types of earnings – digital and tangible. So let’s look at a few examples of these dual niches.
Weight loss is a good example. People are always buying subscriptions to plans online, courses that teach them what to do, coaching and more. Those digital profits can add up nicely.
But there are also many tangible items you can promote. Those would include small and big ticket items, like food and weight scales, water bottles, treadmills, dumbbells and more.
Another good example is survival. People want to know how to prepare a run a homestead, so they purchase many digital courses on how to do that – for everything from food storage to gardening to safety and protection or electricity off the grid.
But they also will need to buy the things to carry out those instructions, so you can promote tangibles as an affiliate – like mason jars, canning and dehydrating equipment, shovels and solar gadgets.