How to Spot a Moneymaker When You See One
Fine. You can accept that you can’t make it big selling your widgets to the five other people who love widgets. You accept that you have to look for the product that is in demand, with buyers ready to click that “buy” button. So how do you know which products to choose?
This is where your affiliate tools come in. This is where targeted product research comes in. This is also where SEO and keyword research starts to come into the picture, but the details of each of those will come in their due time, in their own, dedicated chapters.
Spotting the sellers
What you need to do to spot a moneymaker is find out what is selling and what is not. Go to affiliate sites like Click Bank and Commission Junction.
Utilize the marketplace tools there and find out what products are performing-which products other affiliates are making money with. Start there, but go further. Consider the whole picture before you decide on the right affiliate products for you.
Go to these sites, and look at the market reports. Don’t just start with a top keyword search; find out what is selling-not just what is getting traffic hits.
Compare products in your chosen category against each other. See which products are outperforming the others, and then go from there. Build your website and your affiliate program around that product. Then use your keyword analysis in the most productive way (as we’ll show you).
Here’s the trick, though. You don’t want to just grab the first products you see with the highest traffic generations. Traffic in and of itself means very little.
You want the products that are actually converting-that are turning into sales. So even if a products gets thousands of hits a day, but only a couple of those hits convert to purchases, it is probably not the product that will generate the kind of easy, hands-off sales you want.
A product with only a hundred (or fewer) hits per day that converts at a much higher rate would actually do much better. It’s the conversion and sales that you need to know, not just the traffic generated by searches.
What sells and what doesn’t
Sometimes these statistics are things that you can find through the marketplace tools on affiliate lead sites. Not always, though, and some sites are better at it than others, so you need to look at the proven factors that are more likely to result in sales.
The trick to this is really in knowing a bit about the psychology of buyers, and then using that to guide your efforts at SEO and marketing (but more on that later…).
First off understand that there are basically only two types of buyers of interest to you; they are
” Buyers who are researching products, and
” Buyers who need a product (or feel they need a product) because they need a solution to a problem (or think buying solves a problem-sometimes the problem is simple want)
Are there other types of traffic-generators out there? Sure. But most of them are not buyers who are ready or nearly ready to buy. So that kind of traffic is essentially fluff.
It looks good on your site meter, but it doesn’t make you money. So it’s not worth your time and effort.
This is where keyword research really comes into play. Effective keyword research will target those buyers ready to buy, rather than those just looking around. We’ll break that down in later chapters.
It may seem as though we’ve gotten a bit away from the issue of niche selection. Really, though, it’s all intertwined.
To choose your niche-since you’re not choosing on interest alone-you will need to know how to choose the niches that can perform. You need to know how to spot the moneymakers, using your market tools.
Now that you know your niche, we can start setting up your business. We can go on to formulating a game plan and carving out your piece of the market action.
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