How to Find Lucrative Keywords with Sufficiently Low CPCs for Affiliate Ads Arbitrage

Struggling to turn cheap clicks into real profit? The secret lies in picking keywords that actually convert—not just the ones with the lowest CPC.

Alex Goldberg

Alex is an entrepreneur with 10+ years of marketing experience. He bootstrapped a portfolio of affiliate sites to 7-figure profit. Today he advises brands, founders, and marketers on affiliate, SEO and paid media arbitrage.

Alex Goldberg

Affiliate ads arbitrage is all about turning cheap clicks into higher affiliate commissions. You pay for traffic—usually through native ads, social media, or Google Ads—and funnel it to a page with affiliate links. If your commissions outweigh your ad spend, you profit.

But here’s the catch: it only works if you’re sending the right kind of traffic. And that starts with choosing the right keywords.

In this guide, we’ll break down how to find low-CPC keywords that still carry high buyer intent, strong conversion rates (CVR), and are tied to high-margin affiliate offers. Because when you get that combination right, arbitrage becomes much easier—and far more profitable.

Why Low CPC Isn’t Enough: You Need High-Margin Opportunities

It’s easy to assume that the lower the cost per click, the better. But in affiliate ads arbitrage, low CPC alone doesn’t guarantee profit. What really matters is the gap between what you pay for traffic and what you earn in commissions.

Profit = Affiliate Commission – Ad Spend

The wider that gap, the more room you have to scale. That’s why high-margin offers make arbitrage much easier. When you’re promoting a product with a generous payout or recurring revenue, you can afford higher CPCs and still come out ahead.

To find truly profitable opportunities, focus on these key metrics:

CPC (Cost Per Click):

What you’re paying for each visitor. The goal is to keep this low without sacrificing quality.

CVR (Conversion Rate):

The percentage of visitors who actually convert. Higher CVR means you need fewer clicks to earn a commission.

LTV (Customer Lifetime Value):

Some affiliate offers pay more over time, especially if the product has subscriptions or upgrades. The higher the LTV, the more you can spend to acquire a customer.

Low CPC is a great starting point—but real success comes when you pair it with high-converting, high-value offers.

What Makes a Keyword ‘Lucrative’ for Arbitrage?

Not all keywords are created equal. In affiliate ads arbitrage, a lucrative keyword is one that brings in visitors who are likely to convert—without costing a fortune to target. Here’s what to look for:

High Commercial or Transactional Intent

The best keywords attract users who are close to making a decision. They’re not just browsing—they’re actively comparing products, checking reviews, or searching for deals. These users are more likely to click on your affiliate links and convert.

Examples of high-converting queries:

“Best [product] for [specific use]”
“[Brand A] vs [Brand B]”
“[Product] reviews”
“Is [Brand] legit?”
“[Brand] alternatives”
“[Product] discount code”

Low to Moderate CPC

Low CPC means you can afford more clicks within your budget, but “low” is relative. What counts as low CPC in the fitness niche might be different in software or finance.

Use tools like Google Ads Keyword Planner to get CPC estimates in your target niche. Look for keywords that are affordable but still show strong intent and volume.

Strong Conversion Potential (CVR)

A keyword is only valuable if it brings in people who actually take action. Look for affiliate programs or verticals known for solid conversion rates—like software, supplements, or digital services.

You can use tools like Ahrefs, SpyFu, or even affiliate dashboards to see which keywords are performing well for others. Pay attention to the landing page experience too, as that heavily influences CVR.

High LTV Offers

The more value an affiliate program gives over time, the more you can spend upfront. Keywords tied to subscription products, recurring commissions, or high-ticket items give you more room to work with—even if the CPC is a bit higher.

For example, promoting a $10/month SaaS tool with lifetime value of $300 is often more sustainable than a one-time $20 physical product.

Examples of High-Intent, Low-Funnel Keywords That Convert

Targeting low-funnel keywords is one of the easiest ways to boost conversions in affiliate ads arbitrage. These are the searches people make when they’re close to buying. They’ve done their research, and now they’re comparing, validating, or looking for the best deal.

Here are some keyword types that consistently perform well:

Comparison & Review-Based Queries

These searches show high buyer intent. The user is actively deciding between options or looking for honest feedback before making a purchase.

Examples:

“Best [product] for [use-case]”
e.g. Best protein powder for women, Best VPN for streaming
“[Brand A] vs [Brand B]”
e.g. Shopify vs BigCommerce, Hims vs Roman
“[Brand] reviews”
e.g. Athletic Greens reviews, Noom reviews
“Is [Brand] legit?”
e.g. Is Talkspace legit?
“[Brand] alternatives”
e.g. Canva alternatives, Zoom alternatives

These keywords work well because the user is deep in the decision-making stage and open to recommendations—especially when backed by affiliate links.

Keywords with Buyer Urgency

These queries come from users who are ready to take action now. They’re not comparing; they’re looking to click and convert.

Examples:

“[Product] discount code”
e.g. Bluehost discount code, Athletic Greens promo
“Where to buy [product] online”
e.g. Where to buy PhenQ online
“Fastest way to [achieve result]”
e.g. Fastest way to grow hair back, Fastest way to lose belly fat

Keywords like these are perfect for affiliate landing pages with strong calls to action and time-sensitive offers. They help you target the most motivated visitors—those who are more likely to click and convert.

Finding the right keywords isn’t complicated—but it does take a bit of digging. Here’s how to get started:

Use keyword tools like Google Ads Keyword Planner, Ahrefs, or SEMrush to discover phrases with decent volume and low CPC.
Filter by intent. Look for comparison, review, or discount-related terms—these tend to convert better.
Check your niche benchmarks. What’s “low CPC” varies. In some niches, $1 is cheap. In others, $5 might be fine if commissions are high.
Spy on competitors with tools like SpyFu or Adplexity to see what keywords and funnels others are profiting from.
Test and refine. Run small campaigns, track conversions, and double down on what works.

How to Find These Keywords (Step-by-Step)

💡 Need help with keyword research, funnel setup, or ad testing? We can support you at every stage—from finding the right keywords to optimizing your entire arbitrage flow.

Not every low-CPC keyword is a good deal. Here are some common pitfalls to avoid:

Low CPC + low conversion = a losing combo
Cheap traffic is useless if it doesn’t convert. Always test for intent and quality.
Seasonal spikes or inflated competition
Some keywords look promising but only perform during specific times of the year or get flooded with competitors during trending periods.
Affiliate programs with poor payouts or weak tracking
Even with the right keyword, you won’t profit if the affiliate program underpays, delays commissions, or fails to track conversions properly.

Red Flags to Watch Out For

Finding lucrative, low-CPC keywords for affiliate ads arbitrage is part research, part strategy. The goal isn’t just to get cheap clicks—it’s to drive high-intent traffic that converts and earns you a solid margin.

Look for keywords with buyer intent, pair them with high-converting offers, and focus on long-term value. Do it right, and you’ll have a scalable system that prints profit.