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Understand the cost of your niche before you jump in
All the time I see people jumping into a niche because they can get $5.00 when someone clicks on their adsense or there are 3,000,000 searches for a keyword that could generate them an extra $1,000 on autopilot. What most people don't do is price out everything that goes along with the niche they're targeting. This means they will set up their website and attempt to get traffic to it the quickly realize they're in over their head and now they wasted a ton of time.
If you have the bankroll to fund anything you want, then the niche doesn't really matter, because you can pay a high CPC or wait for your SEO to take effect. That's not the case for most of us and that means we should be doing our research prior to jumping in, and that's what this discussion is all about.
Do your PPC research
I can tell you that I've been contacted at least 500 times from people over the years complaining that the website I set up for them is great but they are "wasting" money in PPC and say it doesn't work. I then tell them they are just in a competitive niche and it costs more if you want to play with the big dogs. This isn't usually something they want to hear because they now realize their $5,000 website design/SEO/PPC/Marketing budget is now very limited solely because they're fighting companies in Adwords that are willing to pay $15+ per click.
Do your PPC research and know what you're getting into before you're all set up and ready to go.
Know how much your SEO will cost
Many people think that all SEO is the same and it can be done for every website in the same time frame. If you're one of these people, please understand that SEO's timeframe depends on the competition you're going up against. Do you think that a new SEO company is going to rank #1 for the keyword "SEO Company" in the same timeframe they could set up a basket weaving website and rank for "Competitive basket weaving"? No, because SEO is very diverse and complicated, but the basic thing to remember is that the more difficult the niche is, the longer it takes and the more you'll likely pay.
If you're paying for a competitive keyword, understand it will take time, and that means you're paying more than an easier keyword. Yes, the more competitive keywords get more searches and can make you more money if you get ranked, but that's why everyone is going after them!
Do your SEO research and understand that you're going to pay a lot of money if you're in a competitive niche and you'll pay less if you're in an easy niche.
Content usually costs more for technical niches
Most of the time you will find a writer, like myself, who can write on almost any topic you need. Now, if you have a very technical and needs a ton of research, you're likely going to pay 2x or 3x the normal rates. This happens because the research that goes into these articles is a bit more extensive and that means it takes much longer to write these well for everyone to understand them.
One field that I tend to charge more for is anything that deals with medical terminology. Most writers will say the same, not just me, but the medical field takes a while to write about due to the jargon that needs to be researched. More time means you'll pay more for your content.
Now, you could just write up the content yourself, but who wants to do that nowadays lol
Talk with Influencers and website owners about advertising
A lot of people think "I'm going to set up this website and pay influencers to advertise for me!" but they have a budget of $100 a month for influencer marketing and they're in the fashion niche. Influencers in the fashion niche tend to charge a whopping $500 or more per post, and that means your measly $100 won't go a long way, so you need to understand what you're getting into before you go all in.
You need to talk with influencers and website owners before you think you're going to just hand over money in exchange for some advertising. You likely can't afford all of the placements you want, so you'll need to cherry pick them, and you'll need to bootstrap your marketing efforts until you're very profitable at the end of the year
If you're thinking "I'm going to make $1,000,000 this time next year because this niche has keywords getting millions of searches each month!" you're likely going to come back and complain that you aren't making any money. I urge you to think about everything I wrote above, evaluate your niche, then decide if it's right to get into. If you have a limited budget, you might not want to jump into a difficult niche, so start with smaller ones and play it safe.
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