Many successful internet marketers have made a fortune from affiliate marketing.
Some of them may have a seven-figure income that can match the salary of a CEO in a fortune 500 company.
If you don’t use affiliate marketing to generate income, you are leaving a ton of money on the table.
There many ways to generate income in internet marketing business. We have CPA, selling ad space, Adsense, sell our own products, and promoting JV partners products. The idea is to set up as many income streams as possible in your business so that your income would not depend on only one source.
Start to add affiliate marketing in your business as one of the strong income streams if you want to succeed in internet marketing.
Your advantage is to leverage other people’s assets which are already made. You can skip the hard work for product creation, writing salescopy, billing, and handling customer service.
Here are 10 tips to create your affiliate marketing success.
#1: Build passive income
If you are in the internet business long enough, you will notice every successful marketer has some kinds of continuity programs to build passive income. The continuity programs come in various forms: membership site, monthly report / newsletter subscription, coaching program, or monthly PLR.
Why are they so keen to build the continuity program in their business? It is the power of recurring income that helps them to build financial stability months after months. Subscribers will churn out, but they will stay in the program normally for about 3 to 9 months. In the case of hosting service or autoresponder service, the customers will stay for many years.
Don’t envy them. You can build your passive income by promoting their continuity programs too.
#2: Look for high ticket items
Do you know that selling high ticket items and selling a low priced ebook take similar amount of marketing effort if you target to the right audience? If you want to make huge affiliate income, you have to add high ticket items in your marketing funnel. There are many expensive internet seminars or coaching programs you can promote. Don’t let the high price point scare you. Some high income professionals like attorney or chiropractor are easy to get the value back from a $5,000 investment simply by learning how to increase 5% in their business revenue.
#3: Look for high commission rate
Do you know a lot of marketers are willing to pay 100% on a front-end product? I am not talking about a $7 ebook. I am talking about perhaps a $39 information product. Some marketers even pay MORE THAN 100% commission. No, I did not type the number wrong. It is more than 100%.
Why? It is because those marketers actually know how to play the game to drive their competition out. They make a lot of money in the backend and multiple ways to monetize the leads.
#4: Look for backend offers
Like I said in the above, some marketers are willing to offer high incentive to affiliate. Their aim is to build a long-term relationship with their customers and generate the income over many years. Many of them are willing to pay commission on front-end AND the backend too. Sometime, they have a marketing funnel to upsell, downsell, and cross sell the prospects. So it is possible you can earn multiple commission from a single customer your refer. Check with the details in their affiliate program.
#5: Look for life time commission
There are extremely large variations on how marketers count the duration of an affiliate referral. Some counts only for 60 days. That means if you refer a prospect to their sites and the prospect make a purchase after 60 days, you won’t receive any commission. You may say that isn’t quite fair. That is why it is important for you to watch out the terms and condition in the affiliate program.
There are still many smart marketers offering lifetime commission to attract more affiliates to build their business. Identify them and partner with them.
#6: Ask for a review product
You want to promote something you know that is beneficial to your subscribers so that they will keep buying from you in the future. You care about your reputation in the long-term. And you want to build your own personal branding too. So review the affiliate product before sending your prospects to the salespage. Of course, some marketers would turn down resending you the review product because of not knowing you enough. But some are fine with it.
In some cases, you may want to spend money to buy the product and to test the product if you can’t get a review copy. Your genuine personal review is a terrific way to increase your sales conversion.
#7: Look at their salesletter
After all, your affiliate success is built upon the successful marketing platform created by your JV partners. If they do a lousy job on the salesletter, the sales conversion process, and the product creation; you will get a lousy affiliate result too. Look at the quality of the salesletter. Ask yourself if you feel comfort to make a purchase if you were a visitor. Go through the whole salesletter to study their copy to see if it’s compelling. Is there any proof of results? Are there any compelling testimonials? Are there any sales videos? Only invest your time and money to promote a product you feel comfortable it is a winner.
#8: Pre-sell the affiliate offer
Here is the key to affiliate success. Don’t just send the visitors to the affiliate salespage. You can build the trust with the prospects by telling about your background. Tell them why you want to promote this affiliate product. Share with them what kind of benefits you get after using it. If you use the product and get a favourable result, you can show them the proof. It is the most powerful way to increase the sales conversion.
#9: Work with the reputable marketer
There are stories I heard about some partners not paying the commission to the affiliate. They just rid off people. Check the reputation about your business partners. You can Google search to see if they have any scam in the past. Undoubtedly, there are many good and ethical people to work with in the internet marketing industry. Start finding them and building a partnership with them. Once you find a suitable partner, you can develop a long-term relationship with him / her to prosper.
#10: Build a list
Even affiliate marketing is an excellent way to generate income. Keep in mind your goal is to build a long-term BUSINESS for yourself. To build a successful business, you have to build assets that can help you to create income over and over again. Your prospects and the customer list are the assets you can use for years after years. With a list, you can promote various affiliate offers and see which can have a better conversion rate. And later on you can build a more profitable business by selling YOUR OWN product.
But don’t just build a list. The real asset is the relationship with your list. You need to continuously educate your prospects and customers by sharing valuable content, tips, or tools. The key is to move them through the path of know, like, and trust you. Once they trust you by knowing you can give them value, they are very responsive to your message and your PROMOTION too.
As you build your business in affiliate marketing with the tips given above, you are going to generate some very attractive income. And at the same time you are building a business empire with valuable assets: the list of prospects and customers, and a network of business partners to synergize for a lifetime.
As the old saying in Chinese Proverb, the thousand mile journey starts with the first step. If you get overwhelmed by many of the details in affiliate marketing, just start to master one thing at a time.
The greatest way to create huge income is by building a huge list. You heard again and again the money is in the list and the relationship with that list. Stop using those hard, long and expensive methods to build your list slowly. You can quickly get to your goal by using the smart list building technique.
source: http://www.markflavinblog.com
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