Affiliate Marketing is here to stay. Regardless of your niche, there are probably tons of related products to promote. Everyday, it seems that there is another product that is now being promoted through an affiliate program. So, why are there so many new products being promoted through affiliate programs?
Well, from the view of the product creator, they can expand their promotion from their own list and subscribers and tap into multiple new lists of their affiliates. This is just basic sound business. If you want to increase the exposure and traffic to your product, you need to get your product in front of more people, period. In addition, the product creator now has an expanded list to promote an infinite number of backend products and OTO’s (one time offers). This whole process is accomplished by sacrificing part of their profits on each sale to their affiliates in the form of a commission. The alternative to this would be to pay for advertising to promote their product, where you are paying a per click cost with no guarantee of a sale. So, with affiliate marketing, the product creator only pays a commission on a solid sale, which is money in the bank for them.
From the affiliates point of view, it’s win win. The affiliate can create an online business without having a product. They receive a commission on each sale by redirecting their own list and subscribers to the product creators link, and the product creator usually will take it from there, closing the sale, and tracking commissions.
So, with so many affiliate programs available, how do you choose which to promote? Well, you should probably start by looking for products within your own niche. That way you will be able to decide which products look promising. Since you are already working within your niche you should have a pretty good idea of what works and what doesn’t. It will also help if you have a passion for your niche so that you will be able to truly believe in the products that you are promoting.
Once, you locate a few possibilities, find out what type of support the product creator provides. For example, besides the affiliate link, do they offer banners, email templates, tweet samples, videos, tracking, and ample marketing materials.
Ok, you’ve done your homework. You have it narrowed down to a few programs. Now it’s time to look at the commission and commission structure. And this will need to be tied to the marketability of the product. For example, if you have two products, one which offers a $20.00 commission per sale and the other which offers $200.00 per sale. You should determine if they are both marketable in your niche. If they are both marketable, you would probably choose the $200.00 per sale product, right? But what if the $20.00 per sale product was a recurring monthly commission. Meaning that after your initial sale, you would continue to receive the $20.00 each month as long as the purchaser remained a subscriber. At that point they both seem equally attractive.
So, from a profit standpoint, the two most profitable types of products are big ticket (high commission) products and recurring membership site products. But regardless of the profitability, the products that you choose to promote should be related to your niche. You are the one that knows most about your niche and you will easily be able to determine how successful the promotion will be. Also, you should have a passion for that product. Either you should be successfully using the product yourself, know someone who is using the product, or have enough belief in the product from your own research of it and knowledge of your niche to be able to market it successfully. Choosing an affiliate program is not difficult, as long as you equally balance niche, passion and profitability.