Are you an affiliate but not making very many sales? Perhaps you’re making one of these three very common affiliate marketing mistakes.
Tag Archives: affiliate marketing
“Associate with men of good quality if you esteem your own reputation; for it is better to be alone than in bad company.”
~ George Washington
What this quote means to entrepreneurial authors:
A powerful way to sell more books, products and services is to partner with others. Whether you do a joint venture or have an affiliate arrangement, partnering with others to increase your exposure to more potential readers and clients can help you grow your business exponentially.
However, you need to be careful with who you associate your business and book with:
This month’s theme is “Creating Business Partnerships.” Throughout January, my posts will be exploring the many ways that we create partnerships within our businesses and how to leverage them to grow our business. “A friendship founded on business is a good deal better than a business founded on friendship.” ~ […]
Even if you only have one product, you can still use back-end marketing to your advantage. Here’s how: 1. Sign up as an affiliate for products that people who buy your product might also be interested in. 2. Place an ad for one or two of those products on your […]
So far, I’ve only talked about affiliate marketing as it relates to the one-time commission variety. But, did you know that there are affiliate programs that give you a monthly residual commission?
Residual affiliate programs usually pay only a small percentage of sales commission for every sale directed by the affiliate to the merchant’s site. This commission often comes only in the range of 10% to 20%. Because of this, many people ignore residual affiliate programs, favoring the high paying one-time commission affiliate programs.
But, sometimes it’s nice to have a monthly check coming in, don’t you think? Sure, residual affiliate programs pay at a lower rate, but they pay you regular and ongoing commissions for a single affiliate initiated sale! That means, for the same effort you might put into a one-time commission program, you get a regular and ongoing commission for a residual program!
Let me paint a picture, here: Suppose there are two online merchants both offering web hosting services on their sites. The first merchant offers a one-time commission type of affiliate program that pays $80 for every single affiliate initiated sale. The second merchant also offers an affiliate program, but this one offers a residual commission of only $10 for every single affiliate initiated sale.
You know how when you buy one thing, you get asked to buy another. You know what I’m talking about …
“Would you like fries with that?”
“People who bought this, also bought that.”
These kind of product pitches go by many names: up sells, down sells, cross sells. But all are “back end” sells — those sales made after the initial sale has been made.
If you’re just starting out in business or for any other reason only have one product of your own to sell, affiliate programs can help you increase your sales.
Basically, after you sell your product, you recommend a similar affiliate product. This way you get — potentially — two sales for only one effort.
And, selling a back end product is often easier than the initial sale … for several reasons. One, the customer’s wallet is already out. This makes him or her more likely to spend some more. Also, if a customer has already purchased from you, there is a level of trust established, which also enhances the chances of a second sale.
For many years, back end selling has helped boost sales for both online businesses and brick and mortar companies. If the customer is happy with the initial product purchased, she’ll logically assume that the online company is offering quality products and will come back again.
There are a lot of articles, e-books and experts who will tell you that you can make money in affiliate marketing without a website. And it is true. You can launch a Pay Per Click campaign that drives people through your affiliate link and collect the paychecks.
But how sustainable is that? Do you know who bought through your affiliate link? Can you market to them about a similar product later?
And therein lies the rub.
Without a website for your affiliate marketing, your business is not sustainable. You have to constantly work it, constantly find new buyers and never rest.
I’m an advocate for sustainable businesses. Who wants to re-create and re-invent their business every day? You can’t grow your business and prosper that way!
Now, you don’t have to have an elaborate, content filled website like this one to be a successful affiliate marketer. (Although, it can help.) But you do need the following so you can build a list of interested parties to market your affiliated products to:
1. A web page that encourages visitors to opt-in to your list.
2. An autoresponder to manage this list and send messages without you having to manually send them.
This is the bare minimum. But to make this model work even more effectively, you can layer on a couple more things:
- An ethical bribe that rewards people for opting in to your list. This can be an e-report, mp3 file or something else that provides those who opt-in with something valuable that is related to your affiliate products.
- Some basic content on the website that shows visitors that they’ve come to the right place and encourage them that they’ll find more where that came from if they opt in.
O.K. So you have your web-page and autoresponder. Now what? There are a variety of things you can do.
What exactly is affiliate marketing? Affiliate marketing is the single fastest growth industry on the Internet. Why?
Because it is an easy way to add additional streams of income to your current business. And, because it can be an easy way to make money and have a career on the Internet all on its own.
Affiliate marketing is the revenue sharing between online advertisers (and merchants) and online salespeople. Compensation and pay is based on performance measures, normally in the form of clicks, sales and registrations. Simply put, affiliate marketing is selling products on a commission basis. You advertise and sell products for other companies. You may have a product of your own to begin with or not.
Affiliate marketing has been a contributor to the rise of many companies online, including Amazon.com. Amazon.com was one of the first adopters of affiliate marketing, and now has thousands of affiliate relationships. Those affiliates help drive sales for Amazon in return for a “piece of the action.”
The things that a successful affiliate marketer must have are:
1. Your website is the jumping off point of all your marketing efforts. So the first step in any successful affiliate marketing business is building a good, credible and professional looking website. You must build a user-friendly website, which will attract your prospects and motivate them to click on the links to the products and services you are promoting and make a purchase. This website can be a blog or other form of niche website. It can even be nothing more than a squeeze page with an opt-in form. (See below for resources to help you with this.)