Leverage Internet Marketing with Affiliate Marketing
Using Affiliate Marketing is a great way to validate your website content, products and services. By taking advantage of this Internet marketing tactic to boost your online business, you can add an extra dash of affiliate marketing ingredients that will help you increase sales and leverage your marketing success.
As a vendor, you can use Affiliate marketing as an outstanding and inexpensive way to expand your brand awareness and add to your online income. You can do this either by running your own affiliate program or use a monitoring and delivery service like Clickbank or JVZoo.
You get affiliates to advertise your brand and promote your products by offering a commission. Typically this incentive is at least 50% or higher for your front end product. It can be lower or skipped for upsells and other product offers in your sales funnel. But to attract higher quality affiliates, you should offer big enough commissions that will draw them to you.
Implementing Affiliate Marketing can be very lucrative. If you decide to run an affiliate program for your business, you have to develop sales material and track links back to your site. When ready, all you need to do is find a good affiliate network to organize your affiliate program. When all is set, you can then add products and auto-responders.
There are other promotional program tactics you can use to promote your products such as PPC (Per-Per-Click), PPL (Pay-Per-Lead), PPS (Pay-Per-Sale), and CPM (Cost-Per-Mille) where mille means thousand, and so on.
Benefits of Affiliate marketing:
- Results oriented – you only pay if a specific planned action is met. No payment without results!
- Lower risk – as a vendor, you pay only when a sale is finalized. If a program isn’t working, you don’t have to pay.
- Diversity – Affiliates will use their own skills and resources to get your brand noticed, such as SEO, social networking, blogging, Email and mobile marketing which enhances your branding potential significantly.
- Minimal entry level restrictions for merchants and affiliates to get involved.
- Popularity – continues to increase at an annual growth rate of 16%.
Here are some top guidelines to keep in mind when developing a product:
Develop only good products.
Do the research for a quality product to sell. Products should be useful for those in your niche market and offer a good commission range. Do not promote like products that have high click through rates but low conversions.
Sell only if it’s relevant.
Be sure you are developing the right product that your audience wants. You can also sell products which are popular in your niche market and have value for your visitors. They are in demand. That’s why they are popular.
Create high converting products.
After proper market research, you will know what are good quality products that you can develop and sell that will have higher conversions for you from your niche market. Focus only on products that have conversions that are higher and in demand.
Give some background.
Before advertising the product, you need to develop information about the product and allow affiliates to review it. Honestly address any pros and cons they may have for the product you are selling. This helps to build trust and integrity with your affiliates and their prospects (which will become your customers).
Build a list.
Whenever possible, you want to build your list. There is no better time to do it than when potential buyers are coming to check out your product. If they buy the product, then add them to your “buyers” list. If they come but don’t buy, offer them a freebie before they exit to capture their info for future offers and possibly further pre-sell them on your current product.
Before getting into affiliate marketing, you need to clearly state what you want to achieve from your referral program. With this you can get customer referrals to generate highly qualified leads and also get the most from your affiliates because payment is based on performance and will motivate them to act.