Bouncing off my idea

Submitted by samsonthomas on Tue, 05/27/2008 - 03:15.

What better place than this to bounce off my idea for a niche..

Can anyone please give me feedback for my niche plan. I plan to operate in the niche of financial literacy for young college grads, housewives and basically, laymen. My idea is to provide basic info regarding personal finance and how to manage your money.

thanks..

Hi sasonthomas - I think

Submitted by nichesurfer on Wed, 05/28/2008 - 16:41.

Hi sasonthomas -

I think that anything that helps people save money is a good niche right now but your best bet is to print out session 3's action guide and do the SWOT analysis this.

best to you!

Great idea

Submitted by slogan5445 on Wed, 05/28/2008 - 19:29.

In addition to my travel niche (which may be too borad) this is on my short list. I actually conduct financial literacy workshop now. I think the information should be short and to the point ( no long articles) and maybe something interactive (calculators). Best of luck to you. It is a very important topic.

thanks again..

Submitted by Anonymous (not verified) on Mon, 06/02/2008 - 02:54.

hi nichesurfer and slogan5445

thanks for your feedback. I did a SWOT analysis as given in the action guide and i found it OK. However `could not think of many affiliate products. I agree about articles being short and to the point.. that was precisely my thought also..

need some more work on it i guess.. thanks anyway.. and best of luck to you too

Go directly to the merchant

Submitted by Shirlpearl on Mon, 06/02/2008 - 03:58.

I have also looked into the financial literacy niche. I found a couple of ways to get affiliate products in this niche by going directly to the merchant's website. Think investing training or companies that offer consumers ways to save money on the cost of debt, medical services, credit repair etc. I actually found one company that offers a financial solutions membership and affiliates/reps get a residual income off the monthly membership fee. I have had a lot of success with that but it did require a lot of initial work. PM if you want details.

Shirley "ShirleyPearl" Muhammad
I'm on twitter - http://twitter.com/shirleypearl

I tried once, covering many

Submitted by CT on Tue, 06/03/2008 - 02:12.

I tried once, covering many angles of financial literacy. The only source of income of this site is Adsense. (Unlike my other store model where income is solely from affiliate.)

http://www.financialplanningmalaysia.com

Now look back, I made the mistakes of
a. covering too wide of a topic
b. did not plan, just build as ideas popped up. (so the web site is quite messy, and development still on going)
c. covering too focus of an audience (just Malaysians) where affiliation income is difficult

But those days, it was the only way I knew.

CT
https://twitter.com/ct2008

You can help me

Submitted by samsonthomas on Wed, 06/04/2008 - 15:45.

thanks CT, for sharing your experiences You have been there, done that, you can help me.
Can you how much you earn through adsense per month with this site?

Very very little

Submitted by CT on Thu, 06/05/2008 - 03:11.

Very very little. It has never exceeded US$100 per month. Well, most of the time it is at the lower quartile far below the indicated number.

(One of the Adsense rule is I am not allow to disclose to anyone of my earning. But I suppose, I can just indicate an off hand number like US$100.)

I have one or two long tails key phrases ranking #1. I believe the low traffic and low value of clicks are primarily due to my targeted audience and the market that we live in.
a. low population (there is only 26 million people in malaysia. how many online? how many interested in financial literacy and search for financial knowledge online?)
b. still not many ppc advertisements that give good value per click. (can be an opportunity for ppc marketing, though bad for adsense)

I suppose US market can be significantly different, with higher click value and much higher population and online habits.

On the other hand, I do have a blog format PF website focus on general Personal Finance issues. It has very little content and I developed it half heartedly. I believe tax law, banking system, credit cards offers, etc. are all very localize issues requires localize knowledge. For instance, US's checking account is UK's current account with cheques.

I cannot figure out the unique position of this PF website. I gives generally tips on savings, managing money, etc.. But there are loads in the internet. What is my usp?

So far, my conclusion is that personal finance website should only target on one country to be of relevant. May be with the exception of personal development focus on money mindset or getting rich, etc.