Saturday, January 12, 2008

The Best product to sell online

As an affiliate , what is the best product to sell online ? To answer this question satisfactorily, we will have to answer 'what constitutes the best product' ? Is it a product that pays high affiliate commissions or is it a high conversion rate of the product that makes it the best product ?

From my experience , there are several digital products that pay very high affiliate commissions ranging from 50-95% and many of them also boast of a high conversion rate. You can keep a sizable profit even if you use paid marketing strategies to promote them , but many of these products also have a high refund rate. This complicates the process of identifying the best product to sell online.When you will be sitting pretty after making the sales , the consumer slaps a refund and your time and investment behind researching and selling the product goes down the tubes.

Thus, a critical criteria that makes a product the best product to sell online is the refund rate of that product.Whenever promoting a product , this is the statistic I check before every other stat. The product might have the best sales pitch and the best bonuses to convert a potential customer into a customer , but if it doesn't live up to it's promises the customer feels cheated and slaps the vendor by claiming a refund thus wasting all your hard work behind making the sale. But why should you be paying the price for the mediocrity of the product and the inefficiency of the vendor ? To avoid this situation I research the refund rate of the product before identifying it as the best product to sell online. Makes sense ?

I use the Clickbank research tool inside my Wealthy affiliate member's area to obtain this stat.Their software tells me what percentage of refund is being claimed for which product and I can instantly scrap the ones with a higher refund rate thus securing my research for the best product to sell online.

Once I have the products with a low refund rate sorted , I focus on the shift in momentum of sales.This tool in wealthy affiliate also shows me statistics about the upward or downward trend in sales of a product.If the number of sales for a new product is falling , then this could be a potential ripper and you would like to distance yourself from it. Similarly, a new product that shows positive change is momentum is a good pick.This is a great way to recognize the new products that will be best products to sell online in future.

Apart from the refund rate and the momentum shift, this tool also shows me the commission per sale and the gravity of the product .The gravity gives an idea of the amount of interest in the product. However, the gravity of a product is often times misleading.The vendor might artificially inflate the gravity of his product to make it appear popular to attract more affiliates. That's why , this does not figure among the top factors to spot the best product to sell online.

The next focus on my research list is the sales pitch on the affiliate page. Even if the product is the best product that's been created , no one will buy it if the sales pitch doesn't highlight the bright spots of the product and doesn't convince the visitor.Once I have convinced myself that I won't lose money through the back door for refunds and I have a winner that , given a chance, people will be interested to buy again, I don't delay my promotion.

To summarize, the factors I use to identify the best product to sell online are the value for money the product offers, refund rate, momentum shift in sales, affiliate commission, gravity and the sales pitch in that order.If you already have a website that gets good traffic , then you should provide a product that is relevant to the content of your website.Once you have satisfied yourself on these factors , you can be reasonably sure that you have chosen the best product to sell online.

1 comments:

Amalie said...

Interesting to know.