Yes, I couldn't agree with you more.

First you need to get to know your audience and what it likes most. Then you will have to find a product that your users will fall in love it it, and finally start promoting it by GoogleAdword or any other advertising you can come up with.

Recently I gave a try to Best Media Partners affiliate program at http://bestmediapartners.com/, and I am really impressed with the results. So I can suggest you can check them out.