Affiliate marketing has allowed many of us to leverage the internet and turn it into a money generating machine. You don’t need to physically own the product, so that means you don’t have to deal with shipping and handling. All you have to do is to recommend products and services to your readers and if they decide to buy it; you earn a commission.
So what is the best product to sell online?
Well, there is no such thing as the perfect product. Therefore, successful affiliate marketers promote multiple products to maximize profit. In this article, I will go over 4 types of products that you must have if you want to be successful at making money online.
To effectively utilize all 4 types of products. You must first include an opt-in form on your website to collect emails. In this industry, we call it email marketing and if you haven’t started collecting emails yet. You should stop whatever you’re doing and get started now. Click here to learn how to build an email list.
The Lead Magnet
The lead magnet is a free product that you give away in exchange for an email address. This product can be a free eBook, video course, tutorial/guide, software, etc. Basically anything inexpensive to capture potential customers. They are not buying customers yet and that’s why we call them leads.
The goal of your next product is to convert them into customers who are willing to spend money.—Keep in mind, nobody likes to get spammed. Your readers are trusting you with their email address, so please due diligence and only provide them with information and recommendations that would solve their problem(s).
The tripwire is low price product(s) that you recommend. The tripwire product is not designed to make you money. (Low-cost products = Low commissions). The reason for a tripwire product is to separate your leads from buying customers.
You see, most people including myself would never spend more than $100.00 on a product recommended to me by a stranger. A tripwire product is inexpensive and usually, cost between $1.00 – $50.00.
The tripwire product is designed to build trust and credibility with your customers. Once your customers trust you, they are more likely to spend over $100.00 on your recommendations.—Similar to your lead magnet, ensure that your recommended product(s) serves real value to your customers.
For example, if you’re promoting weight loss supplements. You don’t want to send them coupons to McDonald’s.
The following are some examples of Tripwire Product(s):
- Membership Offerings
- eBooks that only requires payment for shipping
- Training Systems
The Continuity Product
The continuity product is something that your customers pay every month. Personally, this is one of my favorite type of product because you only have to sell it once per customer.
Here are some examples of continuity products:
- Email Autoresponders (Mailerlite, Aweber, MailChimp)
- Wealthy Affiliate All-in-One platform
Your online income becomes more predictable when you sell continuity products. Unlike traditional affiliate marketing products. You have a pretty accurate idea of what you’ll be making each month.
When someone signs up and becomes a premium member of Wealthy Affiliate, I earn a commission every single month for this person. It only stops when the referral decides to cancel his or her membership.—This rarely ever happens because Wealthy Affiliate contains one of the best training courses available to affiliate marketers, and it also carries top notched website hosting services.
The same applies to email autoresponders, you receive a percentage of what your referral pays each month. As their email list grows, so does the cost of their autoresponder service. The more they pay, the more you’ll make.
The Top Tier, High Ticket Product
These are the expensive product(s) you recommend that makes a huge difference in your revenue. The reason why I list this product at the very end is that you should never recommend this product right away.
The top tier, high ticket product is far too expensive to sell in the beginning especially if you haven’t developed a relationship with your readers.
Let’s use Apple, for example, They sell mobile devices that cost almost $1000.00, yet it gets sold out every time a new one gets launched. The reason why is that they’ve developed a relationship with their audience. People trust them enough to spend thousands of dollars.
Most people don’t recommend selling top tier, high ticket product(s) because it’s simply too expensive. Over time, I realized that just because I wouldn’t purchase something expensive, that doesn’t mean others wouldn’t. However, like any of the product(s) that you recommend.
You should always put your audience first. Everything you recommend should be relevant and offers a solution to your customer’s problem(s). It is up to your customers to decide whether they want to spend the money or not.
Do you want to become an affiliate marketer?
You don’t need a college degree or spend years learning the industry. I have a free eBook (lead magnet) set up for you. All you have to do is click on the banner below to sign up for your free copy. It contains information on the business models that I personally used to make money online.
It also comes with a 7-Day Action Plan with recommended services to keep you on the right track. Look at it this way, I started in this industry with zero experience. I didn’t even know how to start a blog, so if I could do it…. so can you!
However, just a friendly warning! My eBook contains only information to help you create a long-term profitable online business. If you are looking for the easy way out; get-rich-quick method. You will not find it here and chances are, you never will.
Are you ready to begin your journey to create an income source that allows you to work from home? Sign up for the free eBook and share this article on Social Media.
If you have any questions, comments, or concerns, please leave them in the comment section below. I hope to see you all on the other side where you don’t have to work the regular 9 to 5 job.