Affiliate Marketers: 5 Tips For Measuring The Success Potential of Your Product
A quick to the point tips from a full-time affiliate marketer with 12+ years of experience.
When you’re having the conversation with the affiliate manager, keep these 5 criteria for a successful product in mind.
1. Reasonable price point.
Assuming there is a market, you want a product that is at least $100 but preferably much more. Commission rates will average between 8% and 12% so you need a price point that is high enough to generate decent commission.
2. Reasonable conversion rate.
This info is going to come from your affiliate manager and it’s really important not only in setting your goals but measuring performance. If you can find a product with a 2% to 3% conversion rate then you’ve found a winner. Knowing that you’re likely to make 2 to 3 sales for every hundred visitors you drive is a great motivator. And if you’re not converting at that rate you can go back to the affiliate manager and ask for help.
3. Brand name.
Hey, maybe nobody knows you but they do know brand names and that goes a long way in building your site’s credibility and trust factor. Take advantage of all the market research and branding that has been done by the manufacturer and only offer up a trusted brand name.
4. Stay away from seasonal products.
If you’re looking for a year round income you have to have products that are purchased year round. If you’ve found some great deal for apartment rentals during the 2012 Summer Olympics (I hear the Queen is renting out rooms) then you may make a big hit but it’ll be a one time hit. Stick with products that are used everyday.
5. Find that great affiliate manager and work with him or her.
They obviously want you to succeed because selling the products is their job. It’s nice to have a marketing expert who can guide you in the promotion of your product.
It really doesn’t matter what your topic is be it rocking horses or online auto insurance you need to make sure that it meets the criteria set out above. Knowing the market, knowing the conversion rate and having a decent potential commission makes all of your work much easier to do.
How did you pick your first product? If you have any ideas that we can add to this list, or if you have questions, I’d love to hear them. Please share with the rest of us in the comment box below.
James Martell has been teaching others how to earn income with affiliate programs since 2001. He is also a successful full-time affiliate marketer himself, since 1999. James along with his wife Arlene is the host of the 1st EVER and longest running podcast (the “Affiliate Buzz), on WebmasterRadio.FM. James lives with his wife Arlene and their four children in White Rock BC Canada.
Filed under: Internet Marketing
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