Let’s get started. When I first started out, I tried to find good two to three word domain names that I thought would generate revenue.  I’ve since discovered that I’m doing it backwards.  The first thing you should do is to find a niche.

Correction on that –   find a HIGH-PAYING  niche!

To do so, first, go to Josh Spaulding’s site and register to download his free ebook “$5 Mini-Site Formula  – How to Create a Mini-Site That Brings in $5 a Day in Just 7 Days!”

The task for this week is to read and try to get an idea of the strategy in Josh’s ebook.  Then, search for your niche word.

Here is a summary of the the tasks that we will accomplish in part 1.

1. Go to Josh Spaulding’s site at http://www.5dollarformula.com/ and download his ebook. Read throught to get familiar with strategy.

2. Decide which market or niche that you want to base your website on, e.g. Finance, Cookies, Pets, etc.  Goto www.spyfu.com and type that niche word in.

3. Test out niche word results in Spyfu to get the highest CPC

Details

1. Download Josh’s ebook – do so now then go to step 2.

2. Select a niche

Ok, I’ve downloaded Josh’s ebook and am following along.  My first domain is BetheBank.com.  I didn’t find Josh’s ebook until recently, so I did it backwards and had already purchased it.  I can still utilize the strategies here. I know that BetheBank.com is valuable as I’ve already had a couple of people contact me about purchasing it.

Now go to Spyfu.com and type in the first thing that comes to mind for your niche. In my example, its:  bank

Which results in the following:

spyfu-bank

Spyfu shows that the highest CPC (Cost Per Click) for the niche word Bank is $3.10.  CPC is the estimate price that an advertiser will pay to post ads.  The higher an advertiser pays, the higher your commission will be if you publish their ads on your site.  So it makes sense to select the highest CPC that you can find.

Bank returned a CPC range of $.79 – $3.10.  Josh mentioned that mortgage had a CPC of $16 so lets entered that in.  Sure enough, the results are CPC of $1 – $16.  Since BetheBank.com can easily accommodate this niche word, mortgage sounds like a good target to shoot for.

Some other niche words that I entered and their results:

College Loan = CPC of $1.08 – $9.39

Credit Cards = CPC of $.89 – $14.40

Although the high end is good, Josh specifically mentioned selecting niche words with a minimum of $1 start.

Lets try a variation of that: credit cards consolidation = CPC of $1.08 – $9.27

Also credit card consolidation = CPC of $1.43 – $23.82

Wow! Look at that! Just by dropping off the S after the word card, the CPC jumped way up! Important Lesson here! Be sure to type in the exact search term that you would use if you were searching. Also try different variations.

More niche word searches:

Debt Consolidation = CPC of $1.54 – $25.63 – bingo!

Again, I learned this technique from  Josh Spaulding’s ebook  at  www.5DollarFormula.com

His ebook is awesome and ties in nicely with SelfMadeMinds’s strategy of building mini-sites.

Ok, I’m going to go and test out more niche words.

Next – Create a Money Making Website, Part 2

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