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Affiliate Programs and How To Build An eBusiness Around Them |
by:
Denise Ryder |
Affiliate Programs and How To Build An eBusiness Around
Them
By Dennise Ryder, Marketing Coach
http://www.profitspace.com/coach
Two weeks ago, Mariangie Gonzalez sent in a question
"How do you market your Network Marketing business
so yours it's perceived as different from the rest of the reps
out there?"
In answer to her question the way to be perceived as different
was to set up an incentive package that was related to the
general theme of your affiliate or mlm progam. If you missed
out on that disucssion there is a huge blog entry about that
at http://www.profitspace.com/blogger.html.
What I want to do here is back up a bit...a sort of regrouping
you might say and go over what to look for in affiliate programs.
Affiliate programs are the easiest, fastest and most inexpensive
way for ANYONE, regardless of experience to earn money. What
I want to do is provide you with some insight as to what to look for
in a program.
Before we dive in and talk about affiliate programs I do want to
say something about starting a business regardless of whether
it is on or off-line. You NEED to possess passion for what it is
you are doing. If you jump into something for the sake of making
money you are going to end up resenting it. Starting a business
takes a lot of time and energy. If you are involved in something
that you are passionate about and believe in then those hours
don't seem so daunting. If you are in something just to make
a buck...those hours are going to seem very over-whelming to
the point where you hate what you are doing and will soon
resent the business you are in.
So...with that said, if you want to start something online then
look at what you are passionate about and what will juice you.
From there do your research and find affiliate programs that
align themselves to what you want to do.
Ok, let's look at affiliate programs ;o)
The BIG QUESTION...can you make money on-line through
affiliate programs?
Answer....YES
It is totally possible to make money on-line, there are all
kinds of articles and stories about people who have been
successful in making money through affiliate progarms.
It has nothing to do with getting in on the ground floor in
a particular program. It has nothing to do with having loads
of money to market your program. Yup, you are going to
have to have a marketing budget, that is just the cost of
doing business. What it boils down to is looking for programs
that:
1. provide products/services that are in demand
2. provide a recurring commission structure
3. promoting more than one program
4. having your own web site
So..let's look at each one of these and it will give you an idea
as to why these four traits are important to your ebusiness.
1. Products/Services that are in demand. This is pretty obvious.
If you don't have a market for your products/services then you
aren't going to make any money. If you want to know if there is
a market for the products/services you want to sell then do your
research. Look at site's like Overture.com. They have a great
advertisers area that provides you with a search criteria tool.
All you have to do is enter the keyword that is the general
them of your business and it will pop up a list of words that
people have used as search criteria, this will give you an idea
not only of a demand, BUT it will also give you an idea as to
what search terms people use for that general theme.
Another thing is to look at the trends that are happening around
us. Immediately what pops into my head is the fact that we are
getting older and are more health conscious. The health and
nutrition industry is huge and it is also a trend.
Have you every heard of The Popcorn Report? It was a book
written that talks about the trends and where they are heading.
One of the things Faith mentioned was the health and nutrition
industry and cottage industry (home based business) was going
to boom.
2. Commission Structure is key. Ummm, let me give you an
example to hit this home because it truly is important.
You are promoting a hot product from one of the top marketers
that sells for $29.95. You will earn a commission on the sale
of this product of 50% (let's say it works out to about $14.00
so I don't have to strain over math here). It's a one-time sale
which means after that sale is made you are having to go out
and find others to buy. You are always having to work your
butt off to get a "sale" for that product.
NOW...here is another example.
You are promoting an affiliate program that pays monthly,
something like ProfitsVaultMonthly, then this is what happens.
PVM is $29.95 per month and you earn money:
1. $20.00 PER MONTH per referral
2. You keep every penny you earn from selling the products
With the $29.95 product you are earning $14.00 for all your
marketing efforts in getting that sale. That's a one time
commission, make the sale and scream "next" to find yet
another buyer.
With a program that pays MONTHLY, you are earning $20
per month for that same customer, next month you earn
another $20 and so on. Get two join your affiliate program
and you're covering your own cost plus making a bit of a
profit.
Bottom-line go for those programs within your industry that
pay you a monthly residual commission. That way you are
earning money from the SAME customer base. If you are
going to spend hard earned money marketing your program
then you want to make sure that you are getting paid off
those efforts EVERY MONTH...not just a one time deal.
3. Promote more than one program. If you are promoting
just one program and no one buys from you then you aren't
making any money...pretty straight forward right?? But, if
you promote a few different programs that relate to the over-
all theme of your business then you stand a better chance
of making a sale. Let me give you an example:
I want to target the newbie ebusiness owner and provide
them with the tools they need to start a business on-line.
So...I think and ask myself "what does a newbie need?"
They need a web host, an autoresponder, something to
sell, leads, a list and incentive products. So, with that
information I set out to find those products/serivces and
set up a site...a NEWBIE MECCA you might say. Now
if I only set out to promote one of those progams and a
newbie already has it, then basically I just shot myself
in the foot...BUT. What if they didn't have an autoresponder
and saw that I had one that I promote, or they needed leads
or they needed to learn about using incentive products to
build a list. I just set myself up for the possibilities of
making money by offering a host of products/services and
not just limiting myself to just one.
See where I am going with this??
It takes more than just ONE income stream to make money.
You need to set yourself up with several ways to make money.
If a visitor doesn't need one product/service then you stand to
make something by offering other products/services that relate.
4. Your own site. You NEED a hub. I like the word hub actually.
I got the idea from the University of Alberta while I was a student
there. There was a central area within the University that had a
dry cleaners, barber, hair salon, and a couple of food kiosks and
a little general store deal. The Unversity tagged this as the HUB.
I am using HUB to describe what your site should be. YOUR
central area that promotes the programs you are affiliated with,
a landing area for your visitors where you can build your lists,
promote your program incentives, provide content that will help
your visitors...etc.
Now you are probably thinking "but, my affiliate program provides
me with a web page already to go."
Yup, they do. However...
1. are you able to make any sort of adjustments to that page that will
enable you to promote an incentive so that you can stand a part from
the pack?
NO...
2. MORE IMPORTANTLY...are you able to offer a report or eCourse
so that you can build your own list?
NO...
3. are you able to promote other programs, so if your visitor isn't
interested in that specific program you stand the chance of being
able to make a sale through another program?
NO...
That's three strikes right there.
Here is a fourth one for you to think about, if the above three weren't
enough. Let's say you quit a program, you quit that web page is gone
no big deal there. But, that means you are again having to start over
from scratch. IF however, you had your own HUB, you can add to or
discontinue programs BUT you still have your list building mechanisms
in place and you still have other programs that can bring in money. You
aren't always finding yourself starting over again from scratch.
Ok, one last thing I want to show you and then you can think about what
you just read ;o)
If you are a member of a mlm program you essentially have two
customer streams. You have those customers who are buying your
product AND you have those in your downline. Essentially you have
two different markets rolling at the same time, each with their own
specific needs. Your customers of course want your products and
you are selling them along with other things that tie in for that bunch.
You also have your downline which of course have the same products
as you...but their needs are a little different. They need guidance from
you as well as other things...like:
1. a web site of their own
2. a list building mechanism
3. leads
4. autoresponder
Are you seeing where I'm going with this???
YOU have the potential to create an even greater number of income
streams. You have this little market that will need these products
and services in order for them to do business...just like you. So,
find those services that will meet those needs for them and promote
them to your downline.
There you have it, the four main traits that, if you put them into place,
will put you in a better position to make money with your affiliate and
mlm programs.
This isn't rocket science and it works. Again, if you follow the steps
of the super affiliates you will find that these are the very same 4 traits
that they have in place. They don't have an inside track to anything
that you don't. Yes, they have been at it longer than you but that's
about all, they had to start from somewhere as well.
The ONLY difference that perhaps stands between YOU and THEM
is that they actually did what we just discussed above. They went
out and found products/services that had a good market size. They
went out and found affiliates programs that tied in and paid them a
monthly recurring income. They found more than just one program
to promote...AND they created their own HUB.
The blueprint is there for you ;o)
A great book that will help you peg yourself unique and different from
the rest of the pack is..."Super Affiliate Strategies...How to Generate
More Sales, Profits and Commissions For ANY Affiliate Program. It is
a good read and has some very valuable ideas inside. Check it out for
yourself http://www.profitspace.com/sas
About the author:
Denise Ryder is a Marketing Coach and is owner of ProfitSpace Newsletter,
( http://www.profitspace.com). Hey, want to learn how to turn a mundane
sign up process into a profit-puller for your eCourses, Reports and Newsletters?
Get this free download now ( http://www.profitspace.com/book.html)
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