Affiliate Marketing Step by Step – Choosing Your Product
Welcome back to the next part of our series Affiliate Marketing Step by Step - Choosing a Product. This is step 4 when building your affiliate marketing business.
If you haven’t read the previous posts with steps 1-3, you can catch up by reading: Affiliate Marketing Step by Step - Overview and Affiliate Marketing Step by Step - Choosing Your Niche.
Here we go…
Step 4: Choosing a Product
Every affiliate marketer’s primary goal is to make money selling other people’s products.
As an affiliate marketer you will likely be offering many products, so that means choosing which products will be best for you to promote.
Like most things choosing a product to promote as an affiliate can be done well or not so well. Doing it well will make your progress much, much better!
If you take a little time to answer the following questions you will help yourself make a good choice when it comes to promoting products as an affiliate marketer.
Questions to Answer Before Starting to Promote a Product
Will This Product Solve a Problem For Your Target Audience?
Before you choose a product to promote think about your target audience.
What is their most burning need? Another way to think about it is this:
What problems do they have, and what product could solve or help solve those problems?
Now would be a good time to make a list of their biggest problems and types of products that could solve those problems.
If you aren’t sure, look around social media for Facebook groups or other discussions in your niche, and look at what people are talking about.
People always talk about what problems, and needs they have.
Make a list of the problems and types of solutions.
Then be sure any product you promote will address one of their major needs.
Are people buying this product now?
How can you know?
Even though you can’t see the transactions when they happen for other companies’ sales, there are several ways you can tell if people are buying a particular product right now.
If there are ads running frequently for a product, chances are high people are buying.
If there are reviews for that product online chances are people are buying.
If people in the Facebook groups and discussion groups are talking about using the product that is a great sign that many people are buying.
Do they seem happy with it?
This may seem obvious but its worth saying. When you are looking around at what people in your niche are saying about a product and reading reviews, its important that they are satisfied or highly satisfied with the product.
You don’t want to put in a great deal of effort only to lose a high percentage of commissions to refunds.
That said its always true that some negative reviews are normal. You want to see what the majority of conversation is like, not the outlier positive or negative review here and there.
Does it pay a high enough commission?
If you are going to be buying advertising to sell this product, you need to be sure that your commission is high enough to pay you after your marketing costs are covered.
Often people think it will be easier to make a small dollar sale, so they go for products with small commissions.
When the product you are promoting is super hot that can actually work. If the sales letter for the product is highly effective at converting visitors to buyers it could work.
But unless those two situations exist then you could actually end up losing money by promoting a smaller ticket item.
What's the answer:
- Do the Math!
Just be sure you can afford to promote that low dollar product as an affiliate and still keep enough of your commissions.
For a great places to advertise that are affiliate friendly click here!
Is there any way that you can build your mailing list promoting this product?
It may take some work to accomplish this, but if you put in the effort to set up an automated way to build your mailing list while promoting affiliate products you will be very glad in the long run..
Once you have a list of your own of subscribers who want to hear from you, then you have a way to promote many affiliate products - even low dollar offers because you aren’t paying ad costs to offer products to your own list.
Ezines can be a great way to build your list and promote affiliate products. Find out about using ezines here.
How long does it take to get paid?
This is a question worth asking. Normally commissions won’t be paid until the refund period has passed.
This makes sense because the product owner doesn’t want to pay out commissions on sales that could potentially be refunded.
Every company is different but knowing when you will be paid will help you know if you are willing and able to wait and still spend money on ads.
Do you own the product as a customer?
If you own the product that is great! Then, you have an opportunity to know that you like it and talk about how great it is in your advertising, social media and promotion of the product.
It will give you credibility when you talk about using the product yourself.
And if you choose, you can offer a bonus when people buy from you of something you create that will help them understand the product or use it better.
Do you have to buy the product or spend additional money to be allowed to promote the product?
If you own the product this isn’t an issue. But if your funds a limited and you want to promote several products, there are great products online that allow affiliates to promote without buying the product themselves.
This can be very helpful to your wallet before you have commissions coming in, but but still want to build up a group of products in a particular niche that you want to promote.
If you don’t own the product does someone you trust own it and recommend it?
This is worth finding out if you can.
You make the choice!
Ultimately, you choose what you promote. That’s one of the beautiful freedoms of being an affiliate marketer.
Answering this group of questions and considering one product against others we hope will help you make an informed decision that you will be pleased with months and even years from now.