Bala sent me a question asking for the most proftable niche in Nigeria,below was my response to him.
“It’s tough to decide on a niche, and many people would always tell you to choose one that you are genuinely interested about. While these people undoubtedly have good intentions, following your heart is not always the best move. You could be passionate about “Jogging “for example, but is there a profitable market for it in Nigeria? Probably not. If you want to make a decent income online, you have to choose a niche market with a lot of earning potential. Once you have discovered it, put your heart in it, and the money will soon follow.
If you are new to Internet marketing, then knowing what the most profitable niches are would certainly help you make a good decision when it comes to choosing the market you are going to tap. There are so many possible niches you could choose from and as a newbie, you might be overwhelmed with all the choices available. Getting an idea on which markets are very lucrative can give you a head start in your new endeavor.
Recently a lawyer gave me an anonymous tip that yahoo boys are on the rise in nigeria & that means Law niche is really making money.As a matter of fact he has a blog that he claims earn about 4,000 dollars in adsense money.He also told me that some of his clients pay as much as one million naira for legal advice and ideas on how to keep their money safe.Well since not all of us are lawyers I believe the below niches are general enough for a greenhorn to learn and begin.
Here are the top five most profitable markets right now:
- Insurance—The insurance niche is one of the most profitable today; there is a high demand for insurance products because more people in Nigeria are buying more vehicles online these days and the people who are getting retired are seeking for insurance products as well .
- Health– Health is wealth they say, yes that is true because people are seeking ways to live healthier in Nigeria these days and many go online for common ailment remedy.
- Finance —Many people go to the Internet to get information on how to get out of debt. This market is huge, and tapping a segment of it (loan, debt help, money making tips, money saving tips etc) is an excellent idea.
- Employment—Everyday, countless people go online to search for jobs. If you have a website that can help people find employment, then you are off to a great start.
- Relationships—One of the most important aspect of people’s lives are the relationships they keep, and a niche on dating, marriage, or family is certainly very profitable considering the money people are willing to spend to make their relationships work.
Take note however that because these are highly profitable niches, you might have to deal with very stiff competition if you tap into any one of them. There are lots of big players in these niches so be prepared for a hard battle ahead. It would help if you dig deeper into these topics using a keyword analysis tool(Google for a start) so that you can find keywords with significantly lesser competition, because you will fare better in those keywords considering that you still have to build a site and optimize it to get a good amount of organic traffic.”