Monetizing a site, whether on the front-end or back-end, is important if your internet business is to qualify as a business.
When you have no products of your own, promoting affiliate offers may be the smart and easiest way to start turning in a profit.
When people say “The money is in the list”, they are referring to the fact that you can promote to your list over and over again, and make money over time from them. Without compelling affiliate offers, that statement would be so untrue.
But then, it depends on how carefully you select the products you choose to offer.
This post seeks to take you through four strategies to fine-tune your affiliate product selection process.
#1 It Begins With the Niche
There are in practice two types of make money blogs.
The first is the authority site where you carve yourself out as an expert in a tightly focused topic. You can normally personally have time to focus on just one or two authority sites, because of the level of work needed to establish and run authority sites.
The second is the Niche Site. In the niche site you are not interested in building a following, all you desire being that your site’s visitors should respond to your affiliate offers.
Naturally, the amount of time you spend selecting a niche would depend on the kind of website you are creating.
Authority Site or Niche Site?
If you are creating a niche site, there is no need to spend too much time selecting a niche – if you make a mistake, it may only mean you have lost a little money and some of your time.
When you are dealing with an authority site, however, the stakes are much higher. A mistake would usually mean you have wasted months and in some cases even years of your time.
My number one indicator of a profitable niche is competition. Competition confirms that people are making money in the niche. The key is achieving a balance by ensuring that while there is competition –which indicates profitability, it is not too much.
The key to profitability lies in narrowing your focus.
Let’s take for instance you want to start a blog on “weight loss”. The number of blogs already serving that niche will ensure your blog die of loneliness.
If you choose to narrow the reach of your site to “weight loss for children” which is a more confined niche, you may just improve your chance of hitting gold by more than fifty percent.
#2 – Promote 2nd Tier Affiliate Products
This is the kind of offers that have made me the most money.
Just what are 2nd Tier affiliate products? These are products that make you money from both sales you refer directly and from sales made by affiliate marketers you refer.
Can you see how that can make you money faster?
When you join an affiliate program, you are the first tier and whoever you refer to the program is second tier.
If you are interested in this affiliate model, it is important that you are careful in selecting an affiliate merchant to promote.
If you’re aiming to make money by persuading sub-affiliates to sign up “under” you, pick your affiliate products very carefully.
Because of the multiplicity of affiliate programs, publishers are very volatile and can jump from promoting one product to another within months. That is why whatever program you may choose to represent should be top-notch and have a stream of high-converting products to keep your sub-affiliates happy.
#3 – Look for High-Percentage Payouts
Another important consideration during affiliate product selection is the percentage payout.
There are affiliate products that pay as low as 4% and also products that pay you as high as 200% (incredible, I know!).
My baseline point is usually 30% as the higher the commission, the more money you make, obviously.
From time to time though, I promote great products that my audience needs to have even though I do not make much money from it.
But as I say, that is from time to time. You will generally make more money from promoting products with higher payout and commission percentages. If all the products you promote are $15 and below, you will likely find it difficult to make sustainable income from affiliate marketing.
I typically select products with a price of $30 and above, and have sold affiliate products with a price tag above $1400 dollars.
The higher the payout, the more money you stand to gain.
#4 – Become a Mini-Expert on Each Product
My rule of thumb is to use every product I promote and tell my audience what I think about the product.
Of course, since I only promote products that I have personally found useful, my reviews are generally positive.
Before you promote a product to your audience, make sure you have actually using the product and not just sold by the sales page.
When I see a lot of product reviews, I cannot help but laugh because the fluff-filled copy is gives away the author as one who has never owned the product.
Your reviews need to do much more than that for them to be successful. Try the product out, honestly testing out its features to determine which ones will be useful to your audience. When you have used and enjoyed a product, it shows, and your audience will be sold by your reined enthusiasm.
Does that mean you have to buy every offer you promote?
No, that’s not necessary if you have an established blog.
Simply send a mail to the product owner introducing your blog and ask for a review copy. If your community is active, most product owners will be delighted to give you a copy in exchange for a review.
I have found that the best reviews are written by those who have used a product.
Affiliate Product Selection – The Final Word
If you are not already into affiliate marketing, it can serve as a strong financial pillar of support for your website.
Properly implemented, affiliate marketing is the best way to make money online. Many people have used this business model to earn a full-time income on the Internet. As long as you do not treat affiliate marketing as a get-rich-quick scheme, and take the time to implement it on your site as a business strategy, it will make you money for a long time to come.
Following the tips I have outlined here may mean that you deliberate on each step of the way in much detail. Hopefully, you will, for that can save you so much wasted resources down the road.
Selecting an affiliate product to promote is not rocket science – following these tips, you should be picking winners most of the time.