Finding the best podcast niche is something I can’t recommend enough, especially if you intend to start a podcast as a business, not just a hobby.
Starting a podcast in the wrong niche can lead you to many potential problems, such as creating a podcast that thinking of creating content feels like thinking of going to a boring 9 – 5 job on a Monday morning. Or you ended up having a podcast with very minimal earning potential.
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In this article, I’m going to share with you the actionable steps that you need to follow to find the best niche for your podcast.
The first step is:
Brainstorming Ideas
If you are like me, you are probably passionate about several topics. And that will create a conflict when choosing a niche for your forecast.
You want to start a podcast in a very specific niche that you are passionate about, since you are passionate about several topics, the first step is to grab a pen and paper, sit down and think of any topic that matches the following criteria.
- The first criterion is you enjoy spending time listening to other podcasts on that topic.
- Next, when you hear or see a conversation about that topic, you can’t leave without engaging in the conversation.
- Next, you followed several pages on social media and subscribe to several YouTube channels about this topic.
You should write down any topic that matches these three criteria. Okay, now we will move to step two, which is…
Niche Evaluation
You have a list of potential topics that you are passionate about and excited about. The next step is to evaluate and rank the topics based on the following criteria.
- The first criterion is your proficiency in each of these topics.
On a scale of 1 to 10, what is your level of knowledge on each of these topics?
This can be measured based on your academic background, your career history, and your active participation in each of the topics.
After you rank your proficiency in the topics, the next step in niche evaluation is to…
- Measure the growth potential of each of the topics.
You can measure the growth potential of your potential niches by doing competition research.
What you should look for is, are there enough successful podcasts in that niche? If you can’t find enough successful podcasts in that niche, it might be an indicator that the audience for that niche is too narrow.
Okay, the next step in evaluating your potential niche is to…
- Define the requirement of each of the topics.
What you need to do in this stage is to make sure you have access to all the requirements needed to run a podcast on each of these topics.
For example, if I’m starting a podcast on investing in pure gold, and I’m not rich, I don’t have access to pure gold, it’ll be hard for me to create credible content on that topic.
Next is…
- Earning potential
In this stage, you need to go through your potential niches and rank them based on earning potential and profitability.
Which one is easy to monetize and which one is more likely to generate more income? This stage is very important if you intend to start a podcast that is more than just a hobby.
There are several ways to monetize a podcast. Some of the general options are:
- Affiliate Marketing
- Paid Advertisement
- Influencer Marketing
- Sponsorship, and
- Creating your own physical or digital product
After this stage, you shall know the topic that you have more knowledge on, which have the highest earning potential and highest growth potential, is easy to monetize, and you have access to the requirement needed to create content on the topic.
And when you get here, you should know the best potential niche for your podcast.
Next, check out How to Start a Podcast with No Audience.
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Happy Podcasting!
