Welcome to the 4th installment of my series on Building A Profitable Online Business In An Hour A Night. If you haven’t read the first 3 parts of the series, go do that now.
Part One – Building A Profitable Online Business In An Hour A Night
Part Two – How To Determine If A Niche Is Profitable
Part Three – How To Choose A Profitable Product To Promote
All caught up? Good. Let’s carry on.
Today I want to talk about the 4 steps I follow when deciding on a product to promote once I’ve narrowed it down to 4-7 prospects.
Check The Commission Rate
As I mentioned in the last part of the series, I always recommend promoting information products when you are first starting out. One of the benefits of this is that the commission rates are generally higher.
If you are evaluating products on Clickbank, I would look for commission rates of at least 40%. Generally you will find much higher than this but I would go no lower than 40%.
If we look at our Paleo Cookbook example, we can see that the commission rate is 70% which will give you $16.77 on a sale.
Do Your Research
The next thing you want to do is to research some details on the vendor of the product you’re thinking of promoting.
The best way to go about this is to just Google the name of the vendor as well as the product name. Even though you’re likely to see a LOT of results if it’s a popular product, you should get some indication of solid history by reviewing the results.
Contact The Vendor
One way to be certain about any questions you might have about a product is to reach out to the vendor. There is usually contact details available on either the sales page or an affiliate page.
Things you want to ask the vendor about include:
- Conversion rate – ask the vendor if they can tell you the conversion rate of the product. Some vendors don’t even track their conversion rate but it is still good to ask and should give you an indication of their experience.
- Affiliate tools – it is also good to inquire about whether the vendor provides any selling tools to help you in promoting their product. Typically a good affiliate toolset will include banner ads, emails and articles to help you be successful.
Buy (and read) The Product
This might seem obvious if you are planning on promoting a product that you read it but not everyone does this.
If you are serious about making money with a product online as an affiliate, it is critical that you have experience with the product. This will allow you to better pre-sell your customers and to speak from experience. People are savvy online nowadays and they will see through a thin sales process that reeks of someone not actually using the product they are promoting.
Don’t make this mistake.
I will get into how I go about promoting my chosen product in a later session but for now you just need to pick a product from your list and go through the steps above.
Next time I’ll talk about the importance of a good domain name and how to go about choosing one.
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