Before you can start designing a product or service, you have to determine if there is an audience out there that will be willing to purchase what you’re offering before you invest too much time building a website and producing content.
This means that you need to think about how you’re going to monetize your product or service and whether the niche that you’re thinking of choosing will support the business model that you have in mind. It is essential to understand that some niches vary drastically in terms of profitability.
To fully understand this, you need to consider the available options that you have for monetization. One of these options is advertising. This requires placing banner ads or Google Ads on your website. This is probably the least profitable way for monetizing your niche because you end up sending visitors away from your site every time they click on an ad.
You also need to consider if those advertisers are willing to pay for your traffic. They have to have a way to make more money from your site visitors than you are.
These advertisers are most likely making money by selling something. If they are selling something, then they’ll be able to keep the lion’s share of the profit from each visitor while at the same time keeping them engaged with their brand. Eventually, this is what you want to be…
