Building a niche list - looking for tips

I'm in the process of selecting some niches to start building some lists in - via PPC. I'm just going to be promoting CB products to start with in the emails mixed in with some content etc. No rocket science there.

Here is where I'm scratching my head. Many of the 'obvious' keywords have a pretty high CPC, and when I work the numbers out - my conversions would have to be extremely high just to break even.

Lets take golf for example. It'll probably cost you .70+ per click for just about any keyword with the word golf in it. You're not gonna do so hot if your trying to push a $37+ CB product.

So my question to those who are successful affiliate markets who are building lists....

Are you thinking outside the box when it comes to keywords, and trying to align your offers with a demographic? That is bidding on keywords that are being typed in by people who would most likely play golf.

or

Are you some how getting your opt-in conversions to 40%?

Thanks!
Mike