Nailing the First Million – Picking a Product

Jumping right in, the trick to picking a product is this:

• There needs to be traffic
• The traffic needs to convert
• You can get the traffic to your blog
• PICK A PRODUCT

You don’t want to focus on a product that has such a small niche that you are never going to sell anything.  The more people NEED your product instead of just WANT your product the better it will do.  Period.  But especially in times of economic “challenge”.  Russ’ 4 million-dollar questions survey helps you determine if it’s a WANT or a NEED (i.e. vitamin or painkiller).

Places to look for products:

ClickBank (they include a thing called “gravity” which can help in picking a product, too – high numbers mean that it’s a high conversion product – also generally means there are a lot of guys promoting it, so don’t get too excited by the really high gravity numbers)

Amazon – the commissions aren’t huge, but they can be steady – and you get credit for what ever someone buys when they have your cookie, not just what you promote on your site.

Commission Junction

Overstock.com

The list is virtually endless.  If there is a product that you want to promote, but you don’t see it there, try googling for “product affiliate” for example “adidas affiliate” – sometimes this will re-route you to one of the large affiliate houses like commission junction and other times not.  But beware, often independent guys don’t pay well – and other times they are great companies to represent.  Just be careful.  For your first time, pick someone solid.

Back to the list above:  Is there traffic can be answered by the Last Keyword Tool.  But how much is ‘enough’?  To start, check out the broad term for the product – the keyword that is in the product title like “teeth whitener” or “weight loss pills”.

Once you’ve drilled into this term apply the “golden niches” filter to get quality terms that aren’t too competitive.  Take a look at the column that indicates daily search traffic.  Now think about what the potential profits are there.

Let’s say the natural traffic is 200 searches per day.  If 2% of that converted, that would be 4 sales in a day.  To make this number more realistic, I cut it in half again.  Two sales a day.  If your commission on that product is $5/sale, then that’s $10/day.  In the course of a month, 30 days, that’s $300.  That’s not too bad.  If it takes me 10 hours to create my site, that’s $30/hour.   And that’s just the first month.  If that product continues for 3 months, that’s $900 – not a bad investment at all.

Not all your products will go like that, some will be much better, some much worse, I’m just giving you an idea of how you can calculate whether or not this product looks good so far.

Now let’s take it the next step.  Can you get that traffic?  Take a look at the deep inspection.  If there are a lot of red and yellow flags, and the page rank is low, it’s probably a good bet.  If all the flags are green, look further for a good niche.  Here’s a detailed description of this competitive analysis.

So take a look at two or three really different products and do one or two drills for each of those products and check out the golden niches.  You’ll start to get an idea of how the numbers fluctuate and you’ll start to see what looks good and what’s not so good.

Ok, so now you’ve found some niches for some products that might be good.  But not one that’s perfect.  Maybe if you tried just one more product or…  STOP!  Pick one!  Just PICK ONE.  The number ONE problem that people have is trying to get it right the first time out.  People are scared to be wrong.  It’s ok to mess the first one up completely.  This isn’t the only one you are going to do, right?  So PICK ONE and give yourself permission to mess it up.

Now you have a product and a golden niche.  Go get a domain name that has your niche in the domain name, it will help you get ranked for that keyword quickly.  A quick and cheap place to get a domain is Go Daddy – you can host your blog there, too (use the plan that is around $6/month – don’t get extravagant with this first one).  I wouldn’t recommend Go Daddy for blogs that you expect to get a lot of traffic, but it’s a great way to “try this out and mess it up”

Go Daddy has got some great support, though you might have a bit of a wait on the phones, they have good tech guys that won’t make you feel like you are stupid, even when you ask stupid questions (voice of experience here, yes… even I ask stupid questions and make mistakes… SO JUST PICK A PRODUCT <grin>)

Then come back for our next installment of Nailing that First Million Dollars.
–Sue and the TZ Team

p.s.  Now would be a GREAT time to sign up for that free trial of the last keyword tool, so you can get those golden niches!

Theme Zoom Krakken is an integrated application suite that radically combines Market Analysis, Competitive Analysis, Keyword DNA Creation, Automated Silo Structured Blueprint and Website Development.

For more information about Krakken or to sign up with The Last Keyword Tool Free Trial visit Theme Zoom.

Was This Article Relevant? Tweet it.