How To Find A Winning Profitable Product To Promote
As affiliate marketers, the product you are selling can greatly affect whether you make a profit or a loss. That’s quite obvious! This is why it is so important to understand how find a winning product to promote.
The sad truth is that most marketers out there don’t really know how to pick a highly converting product and instead they just promote everything and anything… That’s a big problem.. A very BIG Problem. 🙁
That’s why I decided to share what I do when it comes to promoting a product or program. In fact, I think there are only 5 main criteria that you need to check off your list.[su_heading size=”24″ margin=”40″]Step 1: The Payouts Need To Be HIGH[/su_heading]
As affiliate marketers, we get paid every time we make a sale, so we must calculate the average earnings per sale. On JVZoo.com, I would usually look at the “EPC” metric. This number lets us know the average earnings we can make per click. The reason why this is important is because we want to make sure we make the most money possible, right? I mean, there is no point promoting ‘Product A’ that pays an average of $10, when I can promote ‘Product B’ and earn $50 per sale on average. Of course, there are other factors we need to take into account when deciding which product to promote. Just hold on a moment, we will get there very soon! 🙂
Below is a screen shot of some of the metrics you should look out for. They are EPC, Average Price and Commission.[su_frame][/su_frame]
EPC = Earnings Per Click.
This metric is very important because it gives you a good indication of the earning potential. For example, if you can drive 1,000 visitors to the sales page (and assuming you generate 1,000 Clicks), an EPC of $3.21 means that “ON AVERAGE” you can potentially earn 1,000 x $3.21 = $3,210.
Sometimes products are sold on a “Dime Sale” which means the price starts of low but can increase with the number of sales made. Also, sometimes there is an ‘early bird’ price and an ‘after launch’ price. The average price will give you an idea of the price of the product, so that you know if it is easy to sell or not.
This is the percentage of commission that you get as an affiliate for every sale you make! So a 60% comm means that you will get paid 60% commission for the front end sale of a product.
The reason why these numbers are important is because it will give you an idea of the earning potential. For example, 100% commission on a $20,000 product DOES NOT necessarily mean you should promote that product. No, you also need to check the EPCs, the average price and most importantly the CONVERSION RATE! This leads us to step 2 below.[su_heading size=”24″ margin=”40″]Step 2: Does The Product Convert?[/su_heading]
This goes without saying, but it needs to be EMPHASIZED that there is absolutely NO POINT in promoting a product that does not convert. Regardless of everything else, if the product doesn’t convert you won’t be making any money. From the image above, you can see the “Conversion” metric also. This number gives you an indication of the conversion rate from visitors into buyers. So, a 10% conversion rate means that for every 100 people you send to the sales page, 10 people will buy. Besides looking at stats, I HIGHLY recommend you watch the sales video or the sales page yourself. If you don’t get sold from the sales page, most likely your visitors won’t get sold either. Take your time and analyse the sales page because it can definitely affect your earnings.[su_heading size=”24″ margin=”40″]Step 3: Refund Rates[/su_heading]
NO ONE ever talks about this and I don’t know why. 🙁 Let me just give you an example so it makes a lot more sense to you. Let’s say the conversion rate is 20%, EPC is at $5 with 100% commission. HOLY SMOKES! Everyone is going to promote it because you can make millions by just sending traffic to the sales page… Nek Minute 70% REFUND RATE! [su_animate type=”wobble” duration=”4″]BOOM![/su_animate]
You have just lost 70% of your TOTAL commissions! Look, if the refund rate is high, it means that the product is bad, so don’t promote it, period![su_heading size=”24″ margin=”40″]Step 4: Upsells, Downsells and Backend[/su_heading]
A funnel is extremely important when you are selling your own product or selling an affiliate product. You don’t want to promote something that only has ONE product from which you can earn commissions. Instead, you want to promote a product with a high converting funnel so that you can earn commissions on the upsells, downsells and so on, because that’s where the real big bucks are at. That’s a TRUE FACT.
When someone takes out their credit card and buys a product, they are 5 times more likely to continue buying and buying and buying. That’s why you want to MAKE SURE there’s a funnel in place so you can earn more money![su_heading size=”21″ margin=”40″]Step 5: The last one is TRUST![/su_heading]
Believe it or not, some vendors DO NOT pay their affiliates. Don’t believe me? Check out WarriorForum.com and do some quick research. Lots of affiliates are complaining about their commissions not getting paid and so on. Of course, the reason for “delayed” commission pay outs is because it’s easy for affiliates to scam vendors. Many vendors have been burned in the past. That being said, I DO NOT recommend you promote a product unless you are put on an “Instant Payment” model. If you are promoting products from reliable affiliate networks like Clickbank, Amazon, Commission Junction and so on, then this shouldn’t be a problem, but just make sure you get paid on time because as an affiliate marketer, we need positive cash flow so we can scale our marketing campaigns. 🙂
I know, I know…
These 5 steps are as obvious as saying a banana is a fruit. That being said, you’ll be amazed at the lack of research or work put into it, when it comes to promoting an affiliate offer.
I hope you have taken notes and learned something new.
Remember to IMPLEMENT what you learn and go out there and smash it up!
Good luck and feel free to comment below if you have other information to share 🙂