Affiliates: What Price Range Should You Choose To Promote?
Once you have decided to promote products online as an affiliate marketer
, there is yet another decision to make before choosing your perfect product to market; and that is the price-range of your products or services. It may sound obvious that pricing will make a difference to your commissions with higher priced products likely to produce bigger commissions but what you need to consider is whether or not your high priced ticket item will sell to the potential buyers that you attract to your affiliate site or blog.
There is no point in trying to sell a top of the range hi-fi system at full price to bargain hunters.
We all like to get value for money and therefore it is essential that you choose products that give a good impression when it comes to price. Make sure that the products are worth the price being asked, that they fit into your overall pricing strategy and that they meet with your potential buyer's expectations.
Buyers often love the extra bonus products that are often given as an incentive to purchase. Although these may be seen to be free, the customer is left with the feeling that they have really been given a fantastic deal and value to compliment the main product bought.
You want to be sure that you have a reasonable range of products on offer in order to get a chance of hooking some extra sales. By offering complimentary products, you are more likely to get those extra sales while the credit card is still in the hand of the prospective buyer. The price range of those products should range between the highest and lowest price that your customer would expect to spend in your chosen niche and this is where it helps to know who your customers are. Your knowledge of your target market could be the biggest influence to you whether or not you make a decent income or with affiliate marketing.
Experimenting with products in different price ranges can be a little tedious but unless you are extremely lucky, you won't get the perfect balance of products to sell at your first attempt. You would normally need to try different combinations in order find those that sell well and those that don't.
It may take a little time to get the combination just right but it will be well worth it in the long run. Keep records of what you have tried; what worked and what didn't. These records will help you improve your sales in the future. Also keep a record of what banners or images worked best and what your conversion rates are. If you change something and your sales rates suddenly drop, you will be able to easily reverse your campaign to bring the commissions back to the previous level.
Basically, keep a record of everything you do and you may find that you discover a key to unlocking your fortune in affiliate marketing when you can 'rinse and repeat' your actions in other niches in the future.