You’ve got your pick axe but now you want to know where the gold is.
The good news is that I’m about to show you!
In this article, I’ll share the most lucrative niches, the pros, and cons of each niche, and even how to find new ones.
Maybe you’re an experienced copywriter or you’re just starting out and you want to cut straight to the good stuff. Either way, I’ll do my best to help you leave this page with a golden nugget.
Why is it important to choose a niche as a copywriter?
I’m sure you’ve heard the age-old saying “riches are in the niches”.
This is 100% true.
I once heard Richard Cooper, an entrepreneur and Youtuber say on a live stream that “success leaves clues”.
For some reason, this really hit home for me.
Over the years I’ve seen hundreds of people grow successful blogs, marketing agencies, and YouTube channels and I couldn’t work out why they were so successful.
Of course, they worked hard, they were consistent and they provided value.
But there’s one special thing they all committed to.
It was choosing a niche.
When you choose a niche you’re telling the world (i.e. your audience) that you specialize in a topic and they should trust you. But that's not all, there are other second and third-order benefits of choosing a niche, including
- It’s easier to find clients since you can focus on one specific persona
- You become more trustworthy to your dream client
- You’ll gain deeper knowledge in your niche making it easier to sell and execute services
- You get efficiency gains since there are fewer switching costs
- You can charge more for your services compared to other “generalists”
- You’re easier to find online since you’re a specialist
What sort of options are there when choosing a copywriting niche?
Choosing your copywriting niche simply means selecting something to specialize in.
But here’s the catch.
You can niche in more ways than one.
You can niche by industry, service, or both.
Below are the options to choose from when selecting a niche. I’ve also included examples so that you understand exactly what each decision entails.
Niching by industry
This simply means you only take on clients in one specific industry. You’re expected to be an expert and know everything there is about the market, the customer, their problems, and available solutions.
For instance, you could choose to niche in the health industry by becoming a health copywriter. This would mean you write copy for health products/services. Another popular industry is Finance. You could write copy for FinTech companies, insurance companies, or even banks.
Niching by service
Niching by service is one of the more common ways to niche. I often see email copywriters or ad copywriters who only specialize in that one particular service. The main benefit is that you can focus on something you like (or you’re good at) and refine the skill over time. In some cases, copywriters will niche by a service that pays the most or is in the highest demand.
Niching by industry and service
This is a combination of the two mentioned above. Some copywriters get very niche and only specialize in one service in one niche. The benefit of this is that they become the “go-to” person for that industry and service. Contrary to popular opinion it actually becomes easier to land clients. Here’s what Alex Hormozi thinks of getting “deeper” into a niche.
In addition to this, the service is easier to productize. Since the same thing is being done so often, processes, technology, and resources can be deployed to execute it accurately, quickly, and cheaply.
Six lucrative copywriting niches to help you make more money
By now you should know all the ways you could niche as a copywriter.
Although, it begs the question “which one do I choose?”.
Everyone has the same dilemma they start. They’re not sure which niche to choose or how to choose them. Below you will find the best copywriting niches to look into for 2023. I’ll include relevant statistics where possible to make your decision as clear as possible.
I will note that regardless of your niche, there’s a chance you will pivot based on your experiences. This is also completely normal.
1. Email Copywriting Services
An email copywriter is responsible for writing all the copy in email campaigns. Companies might send one per month or several per day. However, it’s usually an ongoing effort which means you’re likely to have ongoing work.
Given the examples above, you might already be thinking about specializing in email copywriting. And I totally support this decision. Email marketing has one of the highest returns on investment (ROI).
In a study conducted by Litmus, they found that email marketing has an average ROI of $36 for every $1 spent. Businesses know they can generate a lot of revenue from their email list, in fact, they’re more likely to invest in email marketing over other services.
Another study by McKinsey found that email marketing is 40x more effective at acquiring customers than Facebook or Twitter. So it’s only fair this is right at the top of the list.
- In demand across many industries
- Easy to measure the ROI
- Ongoing work required
- Easier to sell to a client
- Lots of swipe file material is available
- A lot of competition
- To be super effective you need to learn about email deliverability
- You might not have control over the quality of the email list
- Once automation is set up you might be redundant depending on the industry and product
2. Make Money Online Niche
The “make money online” niche is all about helping people create revenue streams or passive income online. It's one of the more lucrative niches that has an extremely low barrier to entry. If you pair this with the creator economy, then you can bet there's a big demand for copywriters.
You can expect to work with course creators, SaaS companies, bloggers, and other influencers who are helping their audience generate more income.
- A lot of creators will accept a profit share which means a higher upside for you
- Requires a lot of testing (i.e. more work for you)
- Can pay extremely well if you’re good
- Very competitive at the business level so getting good results is hard and sometimes out of your control
- Requires high-level copywriting skills
- Not as easy to land gigs
3. Finance Niche
The finance niche includes all types of businesses that deal with people's money. This could be a bank, insurance company, trading platform, or even a mortgage broker.
The value of an investing customer is extremely high in this niche. One customer could be worth thousands of dollars in profit to a finance company. So it’s important they have the best copywriters optimizing their campaigns.
Wordstream released a report showcasing the highest cost-per-click (CPC) keywords on Google. The top three are all in the finance niche.
- Insurance – $54.91
- Loans – $44.28
- Mortgage – $47.12
- Can charge a lot more given the value of a customer is so high
- Requires more deep research
- The FinTech industry is growing rapidly
- Strict guidelines to follow
- Less likely to be creative
- Hard to implement proven tactics
- Hard to acquire customers unless you’re an expert
4. B2B SaaS Niche
First things first, we need to clarify what these acronyms mean. B2B stands for Business To Business and SaaS stands for Software as a Service. In layman's terms: software companies that sell to other businesses.
According to Gartner, enterprise-level businesses are spending an additional $20B on SaaS each year. With a statistic like this, you can expect SaaS companies to be improving every touch point (including copywriting) to win as much of this investment as possible.
- The lifetime value of a customer is high so you can charge more
- Lots of data is available so you can produce an accurate copy
- Many playbooks already exist that you can reference
- Very competitive
- If you don’t produce results quickly you won’t win any more work
- Requires you to understand how SaaS companies operate and potentially some product management concepts
5. Website Copywriting Services
This is exactly what it sounds like, writing copy for websites. It includes landing pages, full website refreshes, and even email collection forms. As a freelance copywriter, you have the ability to charge based on value. Of course, other copywriters might charge cents per word or hourly rates basis but this is optional, not mandatory. Many copywriters charge in excess of $5,0000 for a website project.
Here are three copywriters that charge over $5,000 for a project:
- Bigger projects to keep you busy
- Weeds out anyone who doesn’t have a big budget for copywriting
- Great for building a portfolio quickly since everyone can click a link and see your work
- A lot of pressure to perform, especially if the website drives most of the revenue
- You won’t be able to charge high fees until you build a portfolio and track record
6. High-End Services
These particular services are the ones that cost a lot of money to perform. I’m talking at least $5,000. They might include plastic surgery, legal representation, and exotic car wrapping. Similar to the Finance or B2B SaaS niche the high-end service niche also has very high customer values. The words “lawyer” and “attorney” for instance are among the top 10 most expensive keywords on Google according to Wordstream.
In some cases copywriting is extremely important with these services. Conveying the true value of the service could be the difference between winning a customer or losing the lead to a competitor.
- The lifetime value of a customer is high so you can charge more
- Some services are a “need” so it can be easier to sell
- Playbooks already exist that you can reference
- Likely need to understand the local market
Tips for choosing the right niche for you
This is where most people get stuck. And I don’t want that to happen to you.
So I’m going to show you my very quick process for choosing a niche. But remember, it’s not something you need to stress about. You can always pivot, and in most cases, you will.
“There are always people and niches with unfulfilled needs. With this approach to business, you don’t need to rely on luck, timing, or the fickleness of fads and crazes—just on your own ability to observe and create. Choose a niche, find a need, and then see what could help those people do their job better.”The Education of Millionaires by Michael Ellsberg
Firstly, ask yourself the following questions:
- What am I interested in or willing to learn?
- Do I have an unfair advantage in a particular niche?
- What sticks out most to me on the list of niches above?
- What am I already good at?
Secondly, shortlist a couple of niches you can see yourself operating in.
Finally, make sure your shortlist matches these criteria:
- The niche has a clear problem or pain point
- The niche has purchasing power
- It’s easy to target
- It’s in a growing market
From here you should be able to start testing one or two niches. Again, if you need to pivot then that’s completely fine but over time you should be pretty clear on which niche you want to operate in and why.
Related article: The fastest way to become a copywriter.
Frequently asked questions
Which copywriting niche and services are the most profitable?
This depends on your offer and pricing. It’s hard to say which particular niche and service will make you the most money without actually knowing your offer and pricing model.
If you’re trying to make the most money you possibly can then I suggest you become really good and structure your deals on a rev-share model. This way you get more upside if your copy performs well.
However, email marketing has the highest ROI of any marketing activity so you have a lot of opportunities with this service. The nature of emails is that they need to be sent frequently as well which means more work for you.
Do I have to choose a niche?
It's not essential but it's definitely recommended.
The interest in copywriting hit an all-time high in January 2023. In addition to this, there are now over 10,000 results for “copywriting” on Fiverr. Since the barrier to entry is so low it’s becoming incredibly saturated at the low end.
If you can choose a niche you increase your chances of differentiating, winning more business, and generating more referrals. As Richard Cooper would say “success leaves clues”. Most successful copywriters I know have chosen a niche and become incredibly skilled in that niche.
How do I find new niches?
This is a great question.
Whenever I'm looking for new opportunities I tend to trawl Reddit and Twitter first since it's easier to spot trends faster.
For Reddit, I use a tool called Sub Reddit Stats to give me basic insight into how fast a niche is growing. This is how I discovered the copywriting subreddit had grown 422% in 3 years. Once I have some information I use a separate tool called Anvaka Sayit. The tool shows me which other subreddits the members of my main subreddit are also active in.