Choosing Best Products from Marketplaces
Choosing best products from marketplaces to promote on your website is a painstaking process and it needs to be properly performed, realizing that the right choice of marketplaces and products are the determining factors for the profitable website monetization.
The main feature of choosing best products from marketplaces for advertising is that they must comply with the content of your page, as it should look harmonious for your website visitors to encourage them to click on the ad and make a purchase.
In the case, when using AdfSense, its algorithm does this automatically. It analyzes your web page content and inserts advertising harmoniously. But, in the case of manual selection of products to promote and use of affiliate programs, you have to take care of it yourself. Therefore, at content preparation for a particular page, it’s necessary to keep in mind the kind of ads that you are going to use later on this page.
Another important feature of choosing best products from marketplaces is its labor intensity, despite the fact that many marketplaces provide various filters to facilitate product selection. This is due to the fact that online marketplaces may offer hundreds and thousands of products in the same category and your task is to catch the most profitable.
Choosing products is time consuming but it’s worth spending time.
So, here we discuss:
- Key Indicators of the Product to Promote
- How to Find the Right Products to Promote
- Conclusion and Notes
1. Key Indicators of the Product to Promote
The Internet marketers mainly choose products to sell from the marketplaces. The marketplaces, as a rule, provide a range of product characteristics in order to facilitate selection of the desired product to let marketers (affiliates) make the best choice for them. So, choosing best products from marketplaces is accompanied by making an analysis of the following main characteristics:
a) Initial $/sale
This is the average amount that you will make from each purchase you refer. One-time upsell purchases are also considered as initial sales. This number takes into account refunds, chargebacks, and sales tax. Since vendors may offer products with various prices and commissions, the amount you make on any given sale may not match up this number exactly.
b) Avg Rebill Total
This number is only displayed if the vendor offers recurring billing products (e.g., products like memberships and subscriptions that on a regular basis bill customer over time). This number displays the average amount an affiliate makes on all of the rebilled product sales. Note that this number doesn’t include the initial sale amount.
c) Avg $/sale
For one-time purchases, this number is the same as an Initial $/sale. But if the vendor offers recurring billing products, it equals the average total of the initial sale plus all rebills, divided by the number of initial sales. To put it simply, for every new purchase of this product, this amount is the average you’d earn in total over the life of a new customer. However, this is just an average, as this amount of money is not guaranteed.
d) Avg %/sale
This number shows the average commission rate earned from all sales of a vendor’s products, including one-time purchases, rebills, and upsell purchases. Since vendors can offer different commission rates for different types of products, this number may not exactly match the commission rate you make on any given sale.
e) Avg %/rebill
This number is only shown if the vendor offers recurring billing products, and shows the average commission rate earned only on rebills.
This is also known as Gravity. It shows a unique calculation that takes into account the number of different affiliates who earned a commission by promoting this product over the certain period (for example, over the past 3 months). The higher gravity the product has, the more competitors you have to deal with. That’s why it’s the most significant factor when analyzing the products from marketplaces.
* Unfortunately, the marketplaces use different characteristics for selling products, so, it’s always necessary to study in detail the members’ area panel of a particular marketplace to identify the necessary information. The given example is for Clickbank.
2. How to Find the Right Products to Promote
After having a basic knowledge about factors above, you can determine which one will be chosen based on how much you will earn and how hard to promote it.
But is it enough?
No, not at all. This is just the beginning.
You need more information to decide which one is the best for you. So, get some advice below and use them to find a gold mine products from marketplaces to promote on your business website:
a) Choose Products Which Have Gravity not Too High
The gravity value from 5 to 30 is the most effective. If you choose products with a high value of gravity, you’ll have to compete with thousands of professional affiliates out there. They may have a bigger budget, more resources and more knowledge than you. So, as a newbie, it’s easier for you when selecting a low gravity product to advertise.
b) Select Products from Niches with Less Competition.
The issue of competition is the most principle in choosing products from marketplaces, since it determines the chances for a sale. The highly competitive niches (for example, like Health and Fitness or Games), are so popular, that products in these niches are pretty hard to promote, especially for beginners.
On the other hand, there are niches with low chances of sales (for example, Software niche, as people often search for cracked version). Therefore, it is unlikely it is worth spending time. At the same time, there are niches with steady demand (for example, Education and Self-help niches, as people often invest their money for educating and improving by themselves).
c) Choose Products with Repeating Payment
The products with repeating (recurring) payment is of particular interest to marketers, as earning money from rebill every month is a sweet feeling.
It just means the person is charged each month for the same service, for example, like a membership website. It’s rebilled each month. Most trial offers are rebill offers. So, it means that the service is provided to the user on a subscription basis, usually in the form of a monthly payment.
d) Select Products You are Familiar With
This is also crucial, as if you’re comfortable with the product you choose, you will know what your visitors want and where is the best to advertise it (like, Facebook page, forums and others). Also, you can write content or make a video to advertise the product without hiring any outsourced helpers.
e) Select Products which Have Sale Pages
When you visit a poor design, crappy content sale pages, would you buy their products. Probably, the answer is never. For example, there are so many products at Clickbank that have a very bad sale page. Also, there are the vendors which don’t update them and leave them outdated for a very long time. So, stay away from products like that. Just go for nice sale pages of the vendors, that update their proposals and add video sales letter (VSL), as they are converting best. Also, products which have affiliate tools (banners, email swipes, articles, keywords, etc) also are good for you.
f) Choose Products with High Commission or High Price
You will earn more money if promoting these products. It’s not worth promoting those products, which cost less than $10 or commission less than 50%, because it may not justify your efforts.
g) Select Products from Good Communication Vendors
Before advertising products, try to contact their vendor to request for a review copy and even refund rate. If they reply you easily and give you useful information then you should rely on them. This is important because you will know which vendors do proper care about their business. And they will help you a lot as you’re their affiliate, who operating for them and make the sale of their products.
h) Don’t Use Outdated Products
Don’t use outdated products, as those products may not attract buyers. A sign of a well-served product is its updates and the latest and positive reviews of the real users. So, spend a little time and make a careful study of the actual status of the product. Also, use new products, as the new products have less competitors than very old products.
i) Apply Filters for Choosing Best Products from Marketplaces
The Marketplaces provide filters for choosing products. Filters are programs, which help you to select products on a number of indicators, like: vendor name, product sales price, the average commission rate, billing type, product release date, other. Use filters to select best products from marketplaces according to the given parameters.
3. Conclusion and Notes
So, you can increase your affiliate product sales only if you are promoting the right products to your website audience. Without doing that you will literally make no sales. If you’re new to affiliate marketing and to the procedures for choosing best products from marketplaces, read some tips below:
Try mostly to advertise the products that you use, especially those products which are important to you. Most newbies make a mistake of advertising products they don’t use. You may ask, what occurs if I advertise the products I don’t use. The answer is, making money from affiliate marketing is all about creating confidence. How can you build confidence and write persuasive product reviews about the products you promote without really using them. So, better start advertising the products that you use and pleased with.
Do not promote irrelevant affiliate products, as this is unproductive. Even though if you’re advertising the products you use, if they don’t belong to your target viewers then there’s no use of marketing them. For example, if you have a marketing and advertising based website, by promoting health and fitness related products won’t give you any product sales. You need to make sure to keep your content audience in mind while choosing the suitable products as an affiliate.
Do not promote too many products. Maybe, you hope that by promoting many products you can make more sales and increase your income. But it does not work this way. Don’t make your website a product promotion place, as if your website visitors find out that you’re advertising too many products, they simply don’t care about your business. So, choosing best products from marketplaces, don’t overdo it with advertising.
Do not publish the advertising content without verifying it. If you’re using any plugins for choosing best products from marketplaces and placing ads on your website pages, then check the prepared content before being published. Remember, the ideal automated ad posting tools do not exist.