I would think that everyone who is trying to set up his or her online money making business knows how to find a profitable product quickly and easily. However, I read something the other day, which made me wonder whether some people who are just getting involved in an online money making business might find some help useful.
What should you consider to be a profitable product?
You all know that to start you online money making business you need to set up a landing page. But for it to work you need a profitable product. Many people think that you define a profitable product by the size of the commission. Obviously, a large commission is nice, but it is not the most important aspect of the product. Far more important is the conversion rate of the product.
There are many products that convert well, but probably the quickest and easiest to find are affiliate products. And the quickest and easiest place to find affiliate products is www.clickbank.com. In the clickbank market place are listed ebooks, membership sites and video courses all for sale or set up for you to sell. If you are representing the product owner, each time you sell his product, your commission is automatically deposited into your account. Once you earn over $100, your earnings will be deposited into your own bank account twice a month.
Using Clickbank.
If you’re not registered for clickbank, you sign up at http://www.clickbank.com. The instructions are easy to follow, but be careful when you put in a nickname or ID. Once you have entered one, you cannot change it. It is probably better to have a nickname related to you own name. If you have one related to your niche, you may not be happy with it if you want to market in another niche, but you’d be stuck with it.
Search the marketplace.
Open the marketplace and search using your key word niche. This will bring up a list of products in that niche.
Look through the list for the products that have the highest popularity and gravity and pick out three of four. If you see a number of products in your niche this is good because it means that there is a demand for your niche.
Sort your list of products by popularity and gravity.
Obviously, the most popular are getting the most sales. Gravity is a calculation made by Clickbank which indicates which products are getting more sales by affiliates. In other words a high gravity means that a relatively high number of affiliates are having success selling that product. High gravity also means that a product has good momentum and converts well for affiliate traffic.
Ideally you want a product with both a high gravity and high popularity, but you want to make sure the gravity is at least 30. When it gets close to 100, it should be as close to a guarantee that it will sell well as you can get.
Note the % referred number.
The % referred number is the percentage of product sales which come from affiliates instead of direct sales. A high referred percentage usually means that you’ll have a better chance of making money with the product.
When you go through this exercise and end up with several products you want to promote, you then select one or two to start with in you campaign keeping the others in reserve for later. The important next step is to track the success of each of your products. You may want to alternate products and see which ones work the best. Also, you don’t want to fall in love with a product and hang on to it when it is no longer converting for you. It’s easy to do, but if you’re going to be successful in your online money making business, you need to actively test your products and only promote those that are really successful for you.
By the way if you want to read more on starting your online money making business, sign up on the right and get my free ebook, Make A Million Online System. It explains in detail the above ideas plus gives you many more. And if you want to check out affiliate programs, go to my website, Working For Our Future, and get into one of the three affiliate programs that I am promoting. And you’ll be off and running.
