There are a number of affiliate programs online today. How do you know which one to pick and which one will be best for your business? There is a certain skill in picking the right one. There a number of features to review with any affiliate program you might consider promoting to make sure it is the right one for you.
Hands down, the most important aspect of which affiliate program you choose will be the product you pick. You need to pick something you feel passionately about or at least have a mild interest in. You will be spending a lot of time working on promoting this product and you will need to know it inside and out so you don’t want to pick something that will bore you or you are sure to fail.
In addition, you will want to choose something the public, or at least a segment of the population, is interested in, too. There is no sense in promoting something no one will buy. You can get an idea if people might be interested in the product by checking out the search results on Google keyword tool. This will show you how many people are looking for a particular term each month. It also shows how many other websites are competing for that particular term. If the competition is high and the search volume is low, you may decide to promote something else. However, if the search volume is continually high and the competition is low, it might be the perfect product to promote.
When you consider promoting a product, the website where the product appears is very important. This is literally a make or break for commissions. Will a customer feel welcome and at home on this website long enough to buy?
Is the website attractive? Is it easy to read? Is it easy to navigate? Is the wording written on the website worded in a way that would make a customer feel compelled to buy? There are many considerations when you look at a website and try to determine if the product will be a good fit for you. While you don’t want the website to be boring, you don’t want it to be over the top either.
Conversion Rate: The single most important set of numbers when picking a product to promote as an affiliate is the conversion rate. The conversion rate gives you a good idea if the product sells well or not. A conversion rate is calculated by the number of people who complete a desired action out of 100. If 5 people who visit the product’s website out of 100 buy the product, the conversion rate would be 5%.
It’s a bit hard to believe but the industry’s average conversion rate is 1%. That means only one person who visits the website out of every 100 will purchase. You don’t want to pick a product that has a lower conversion rate than that, such as 0.5%. With that said, there are plenty of products with higher conversion rates if you do some digging.
Online marketplaces like Clickbank provide conversion statistics. It’s best if you can get these numbers from an arbitrary source so they aren’t skewed. If you must, you can ask the product owner for the statistics but this should be a last resort.
It’s rather obvious that you, as an affiliate, need to find a product with a decent commission. You should earn at least 20% from each sale. Many products offer 50%-75% commissions. You may also want to consider how often the payout is. In addition, some programs will only pay you once you have earned a certain base amount.
Reviews of the Product or Service
It’s best to promote a product when you have actually used it so you can give first-hand experience. But that’s not always feasible. In those cases, you need to rely on the reviews of others. These are easy to find simply by searching online. Just type the name of the product and the word “review” and it will likely pull up a multitude of results for you to weed through. This will give you a good idea if the product is worthy of you spending time promoting it or not.
Picking which affiliate program to sign up for can be a bit intimidating at first. But there are a number of key features to keep your eye out for, like the conversion rates and commissions, that will give you a fairly good idea if the product will give you the results you want in your affiliate marketing business.