Loose Tea in the American Marketplace - Opportunities for Affiliates
Practically every American has a favorite cup of tea, and the marketplace is full of new and interesting varieties. However, true tea enthusiasts know that loose tea is the only way to go!
The varieties are staggering - green teas, oolong teas, black teas...every type of tea you can imagine! And with 20% commission on every sale, this is a perfect opportunity for affiliate marketers. We'll show you how to analyze markets and find good products (with great commission rates). It's important to know your market and to target the right affiliate programs - this takes some homework - but it will be well worth it!
In our first installment, we'll look at the state of the loose tea market in the U.S.A. And we'll break down the opportunities for affiliate marketers into two categories:
Teas that are already sold in tea bags and can be sold without any modifications, e.g., Special Herbs Oolong Tea .
Teas that are not widely available as loose tea, i.e., teas that need some sort of modifications or additions in order to be sellable as loose tea.
Before getting started, here are some things to consider when buying or listing products:
Market size - As with many other types of products, the larger the market, the more potential customers you have. If you're selling a niche product in a big market (e.g., bottled water), it's likely that there are already enough vendors. On the other hand, if your niche product can be sold in widely available - and more expensive - proprietary varieties (e.g., Special Herbs Oolong Tea) then you will have a more reasonable opportunity for success.
Commissions - The more affiliate marketers selling a particular product, the higher your potential commissions. This is great news for both new and established businesses.
Competition - Some products are in greater demand than others and supply will always outstrip demand for these. For example, if you're selling Special Herbs Oolong Tea , there is a huge market for this tea in the U.S., and there are plenty of vendors already selling it as loose tea, but if you're trying to sell a herbal supplement that is fundamentally the same thing, then the odds of success are somewhat lower.
Market Trends - Some markets are cyclical. You should try to avoid or at least be aware of the cycles. For example, a product that sells best during the winter months may sell poorly during the spring and summer months. This is something you need to take into account when analyzing a market.
Market Size And Competition: A Case Study
There are huge segments of the American marketplace for tea bags and there's also much opportunity for loose tea afiliates in hot markets where competition is light and demand is great. The following slide show will help you analyze your market and potential competition. Here are some of the questions you should ask yourself:
~ Is your loose tea product widely available or proprietary? (i.e., is it a product that might be sold only in tea shops or as part of a larger package?)
~ Is it widely available in loose form through other channels? (i.e., would customers already be comfortable buying this product loose?)
~ What is the "price umbrella" for this type of product? (where does it fall between the low and high ends of spectrum for pricing)
If your answer to any of these questions is anything but "YES", then chances are you will struggle to compete with existing vendors.
Marketing Tool
Like all other products, a solid marketing plan is essential for success. It's important to understand the attributes of your product(s) - and how these will be marketed - so you can select the best possible marketing tool. There are many types of digital products available today and we'll look at four of them:
Audio - These are great for recording your voice and simply reading off your affiliate links or information. This can be done using a simple app like TapeACall Pro or Call Recorder by Idialog (paid versions only). You can also make a recording of music or other sounds (like a tea kettle whistling!)
Video - Videos are great for explaining about your product in depth. You can record a video with a camera, upload it to YouTube and then share it on social media. It's a great way to market your products on YouTube. There are also many websites like Vidyard that will let you upload your own videos.
Webinar - A webinar is a live presentation that you or someone else gives over the internet. While webinars seem expensive, they're an excellent way to create brand awareness and instill confidence in potential customers. They can be used for affiliate marketing as well: you can refer people to your website and offer a link for them to use as a sign-up for your mailing list.
Mobile - Mobile marketing has exploded in the last couple of years and it's important to be on top of it. There are many apps available (both free and paid) and many websites that will let you host information or download an app (e.g., the free version of myAppFree ).
Final Notes
These tips have hopefully given you some insight in the process of choosing an appropriate product to market with an affiliate program, as well as some tips on how to create a decent marketing plan.
If you have any further questions, feel free to post them in the comments below.
Good luck!
Further Reading:
The best products to market with an affiliate program for affiliate marketers How do you market products as a content marketer? Do you have any tips for newbies? Please share! I'd love to hear from you! :)
And last but not least... a big THANK YOU from your friends at sasquatch . Check out our work,or join our mailing list for the latest in semiotics and content marketing. Best of luck in your 2015!
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Conclusion
When it comes to digital products, it's easy to be blinded by the prospect of making money from affiliate marketing. However, the fact that something is profitable doesn't always mean it's a good choice for affiliates. In order to make a good decision about your next digital product, you should consider both market trends and competition. You should also think about how your digital product will be marketed and who would want to buy it.