Choosing the right affiliate product is crucial to your success–especially with high-ticket items because sales are less frequent. The high product price and generous commission rates are always at the forefront of discussion for many affiliate marketers. However, though important, price isn’t the only factor to consider when choosing between affiliate offers.
You should consider doing the following, too:
Determine product-audience fit
Prioritize the product-audience fit. The last thing you want to do is promote a product unrelated to your audience’s interests–they won’t like that. Ask yourself if the product matches the needs of your audience and focus your information on the value it adds to them.
Fleshing out a buyer persona and understanding the demographics of your audience like age, gender, group identity, and more will not only help you find the right product but allow you to make relevant affiliate marketing content, too.
Assess market demand and competition
Broad niches may have greater income potential because of the larger audience, but their markets are very saturated, so there will be lots of competition. You generally want to avoid that because it will be harder to build a new community and have conversions. If the product is too popular, a tighter niche product may suit you better.
Pro-tip for broad niches: if it’s challenging to create a community, join one. Through a forum like Reddit, connect with people, and share your affiliate links where they’re relevant.
On the other hand, don’t go too specific. Either extreme is bad. A very tight niche means an insufficient audience number that will prove difficult to monetize.
Additionally, if you’re a blogger or other kind of content-creating affiliate marketer, you should familiarize yourself with your industry’s relevant keywords for search engine optimization. Being able to rank against competitors for key terms will generate your content more organic traffic with visitors who have a purchase intent.
Product price–and your commission
Once the other factors are in check, now you can give some attention to the product’s price. Generally speaking, higher-priced items will tend to yield higher earnings–but they will also be more challenging to sell.
Typically your commission could be around 20%. Although high-ticket programs offering over $1000 in commission tend to be flat fees and one-time commissions, looking for recurring affiliate commission plans never hurt. Your number of commissions will matter more on the lower end of commission rates.
What sales cycle length will you tolerate?
B2B (business to business) products will usually have longer sales cycles than B2C (business to customer) offers, but the payouts are higher. You need to decide on what you’re okay with for your product’s sales cycle length–it will directly impact your affiliate earnings.
Your tolerance for the cycle length will also influence your marketing strategy. Are you willing to put the work in over a more extended period and try to score a significant win, or are you into shorter sales cycles where you produce more bite-sized content for quicker sales? Pick your poison–and consider what your audience might have the patience for and respond to best.
Is your niche known for promotional discounts, bonuses, and marketing materials? Some high ticket luxury items won’t offer those kinds of incentives because it’s incoherent with the brand. Available promotions will help turn prospects into customers and motivate you to give it your best after seeing those conversions roll in.