In my last article we looked at where to find products to promote. But which product do you choose?
Choosing the right product is one of the most important stages when working on your home business opportunities.
Choose the wrong product and you can spend a great deal of time and money marketing something which people just do not want to buy or you could promote a bad product that will damage your reputation. In the home business opportunities market, it is important to have a good reputation. After all, would you want to buy something from somebody who was always selling or recommending rubbish?
Here are some points to consider when looking for home business opportunities via affiliate marketing:
Does the product provide value?
As previously mentioned, when you are promoting products as an affiliate you need to maintain people’s trust. If a particular product looks OK at first the first look but you know that the actual product itself is not particularly good, then you should not promote it. Look for reviews or testimonials of the product.
Would you buy product?
Do you like the product itself? Ideally with home business opportunities you will have purchased the product and tested it for yourself before promoting it. That way, you will know that it is truly worth the money. Remember that most digital products offer a money-back guarantee, usually within 30 days of purchase, so you can get your money back if it not what you expected it to be.
What’s the refund rate?
This follows on the last point. If you buy the product and it is rubbish and you ask for a refund, your customers may do the same and you won’t get paid any commission by the vendor. Before you promote the product, check out the refund rate.
What is the conversion rate of the product?
The higher the conversion rate, the easier it should be for you to make a sale of that product. A product that coverts at 5% means that you should make approximately 5 sales for every 100 people you send to the sales page. If it only converts at 2% then obviously you would need to send more traffic to the product in order to make the same number of sales.
What is the percentage commission?
Some vendors can offer upto 100% commission. They do are do this to encourage more affiliates to sell their products and that the vendor may look to sell the follow-up products to the customer directly where no commission is paid.
How much will you get paid per sale?
Check out the percentages based on the value of the product. For example, if the vendor pays 100% commission on a $5 product, you get $5. However, a similar product may sell for $20 but the commission offered is 50%, you get $10 per sale. So you would have to sell twice as many of the first product to make the same as you would on the second product.
Will you get paid just for this product or for other products as well?
Some affiliate schemes track the clicks you send to them for a long time and pay you not only on the product you promoted initially but also on their other products. This is great model for home business opportunities as you can earn money just from promoting one product initially.
Is there recurring income?
This is another good element to consider when you are looking for your home business opportunities. Recurring income is when you get paid a commission every month that somebody remains in a subscription or membership based product. If the membership is $20 per month and the commission is 50%, you will get paid $10 every month that person remains as a member – and you only had to sell it once.
Are there high ticket items?
Many vendors have a range of products within their portfolio that you can promote to your audience. A high ticket item is a product that pays in excess of $1000 per sale. These high ticket items have to be proven and very high quality but, if you can find the right product and the right customer, which is possible with the right training, these big commissions really make the difference to home business opportunities.