How To Make Money Online With Affiliates 5 Common Mistakes Made By New Affiliate Marketers Can The Internet Businesses Survive Without Affiliate Marketing
To make money online you do not need to have a website. You will just need a few good products – affiliates that you promote and are paid for promoting them.
Choose the Best Affiliate Product
You must have heard about commissions that people earn when they sell a product of a specific brand.What we are going to do is similar in context only our product will be Internet based. Digital products are the high value products that generate much higher commissions that any other products. Electronic books or e-books and most Internet software’s today are classified as digital products as they can be directly downloaded after purchase. “Commission Junction ” and “ClickBank ” are some of the websites that offer such services .You get a unique affiliate link that has your reference ID as soon as you sign up for a product that you find interesting. The reference id on the affiliate link will allow the commissions on each sale to be tracked correctly and assigned to you.
Go one step ahead and make your affiliate link look Genuine by buying a Domain name (.com)
Get a domain name to redirect/forward to your affiliate link. You can easily register a domain name at a very cheap price ($7.99). Therefore, when someone types in your .com or domain name in his or her browser, it will go to your affiliate link. The visitor will obviously see the website with the product that you promote, and the commissions will be tracked correctly.
An affiliate link looks very weird eg. affiliatedoman.com/product?refid=mmhaas compared to the domain name which you will be registering. For eg: If you are selling a digital camera photo software like photolightning then your domain name can be something like photosoftwaresale.com etc. A domain name masks the affiliate link look like it’s your own website. Therefore you have a website for free as well as a product to promote with large commissions to earn.
The winning formula: Higher Traffic = Higher Sales
If you are a good writer then write an article promoting your product and a link at the bottom to your website. Articles are the best ways to spread the word about your product and generate traffic. If you are not a good writer, get an article written from some freelancer. In order to make high commissions from your sales, you need to get traffic to your website and thus the affiliate website.
Start an advertising campaign, make sure you do not spend more than you earn. Make a definite plan of action about the amount of money you will be spending on advertising. Many article directories and websites will readily publish your article free with your links. You will be generating money without spending a dime on advertising if you follow this method. This strategy is simple if you have a good article people will read your article, if they like what you describe they will click your link to buy the product, generating commissions for you.
Repeat this step for other products and you will definitely be earning money in a few months and all this without a website.
You’ve just signed up for this fantastic new affiliate program. They have great products, free referral websites, training, pre-made ads for you to copy and the best compensation plan on the internet. This is the best affiliate program on the internet! Put a few ads out there and you’re on your way to becoming the next internet millionaire. Right?
Before you break ground on that big mansion on the hill, here are a few mistakes many new affiliate marketers make that you’ll want to avoid.
5. Believing the hype
And yes, I do mean the hype promoted by your own program. Those income projections that every program makes are just that, projections. You can make that much. Will you within your first few months of the program? Probably not. Look at this as a long term investment in your future, not a way to get rich quick. Believe in yourself and your ability to make your dreams come true. But don’t believe the hype.
4. Expecting instant results with little effort
Expect to work your business. And expect to work it daily. If you opened your own neighborhood store, you’d expect to have to go in to work daily, wouldn’t you? You’d expect to have to advertise and get people to come to your store. Well, you just opened your own brand new internet store, what are you going to do to make it work? How are you going to get people to come look at your product?
3. Lack of a plan and specific goals
You’ve probably heard the saying, plan your work and work your plan. You need to have a specific plan and clear, measurable goals. Many people join affiliate programs with the vague goal of wanting to make a lot of money. How much money? How quickly do you want it? (Try to be realistic here, making a million dollars in one month is not realistic.) Okay, you have your clear, specific goal. Now how are you going to get there. Again, think clear, specific steps here.
2. Advertising your affiliate link
Wait a minute, if you don’t advertise your affiliate link, how are you supposed to get sales and downline members? Create your own website that has a link to your affiliate program. Every affiliate for your program gets the same website that you do. You have to be able to make yourself different from everyone else. The way you do that is with your own website.
You’ve been working your affiliate program for 2, 3, maybe even 4 months now with very little to show for it. You’re getting discouraged and beginning to wonder if this is worth it after all. Pick yourself up, dust yourself off and figure out what it is you need to be doing. Learn more. Bug your sponsor and your upline members until they help you out. Don’t quit. No one ever achieved success by quitting. Neither will you.
What is an affiliate program? I’ve been bombarded with this question from Internet business newbies since I got myself involved in this very interesting but challenging
Many years ago, ever since we started manufacturing products for sale in the offline physical world, we had been having sales agents representing different manufacturers to help the latter to expand their markets. The agents conclude sales without carrying inventory, handling payments, signing contracts, sorting, packing and shipping of the products. Their main focus had been to make the sale by getting the orders from the prospects and existing customers, which were then processed by the manufacturers or merchants.
In the Internet online world we have affiliates instead of agents. Affiliates are highly targeted pay-for-performance sales agents.
There are also some forms of Internet advertising that rewards the affiliates for driving traffic to the advertiser i.e. the manufacturers or the affiliate program owners. The advertiser pays the affiliates to place a link on their website, and the affiliate sends traffic to the advertiser in return. In other words, it’s about the affiliates receiving commissions for helping in making the sales.
The most common reward is pay-for-sale, where the merchant pays the affiliates who referred the paying customers.
Affiliates are being considered as a complementary but very important sales channel although the merchants themselves continue to get their own direct traffic in making their own sales.
The affiliates do not have to suffer from the occasional sleepless nights worrying about the processing of orders, packing and shipping etc because this are being taken care of by the merchants who usually have an effective tracking system to determine which affiliates drive which orders to them starting with the so-called affiliate links. These are
the links that the affiliates put on their websites, newsletters, ezines or emails.
How does an affiliate link look like? You may ask. The most common affiliate link is embedded in the linking URL. For example, if you see a link like “https://www.coolwebtips.com you can be quite sure that the affiliate with the ID (identification) 3456 will receive money from ABC Merchant when someone places his order after clicking that link.
Other affiliate links are more complex and encrypted with some sites having their links masked so that the prospects won’t be able to detect that the URL they’re clicking is an affiliate link.
An excellent example of an affiliate program is that of Amazon.com who happens to have one of the oldest affiliate programs in the Internet. Other possible affiliate programs are as follows:
1) “Pay per click” – the merchant pays the affiliates for the driving the traffic and the resulted orders to them.
2) “Pay per lead” – the merchant pays the affiliates for directing the prospects to register their interest with a possibility of making the sales later.
3) “Pay per subscription” – if the merchant has a recurring revenue from the customer’s repeated orders, the affiliates will benefit accordingly.
Why bother about Affiliate Marketing at all then?
The following are some of the reasons why Internet marketers the world over swear by the affiliate marketing as a form of their Internet advertisement and strategy:
1. Low budget
Many are hesitant to venture into any home based businesses because of the lack of fund or the unwillingness to part with money due to uncertainties. In affiliate marketing, you don’t have to invest a lot financially to start pulling in profits.
2. No inventories
There is no need to keep and manage an inventory as this would be taken care of by the merchant.
3. Passive income through leverage
One could copy what the truly wealthy people are doing (or rather not doing). They earn their income through various leverage strategies which allow them to make money while they’re sleeping, meddling with hobbies, or having vacation in far away places such as the beautiful beaches in Hawaii or Malaysia.
Unlike a paid job, affiliates could just drive traffic to the merchants’ websites without having to sweat after having provided them your ad copy and links.
4. Minimal risk
The main reason for most successful Internet marketer’s extensive use of affiliate marketing is the low-risk nature of the program. This is especially attractive to those with low budget for advertising
With affiliate marketing, you are dealing with an unending global market place. All you have to do is study, research and select a niche product or service and prepare all the necessary marketing tools for your affiliates to direct traffic from just about anywhere around the world to your website.
6. Getting paid while you sleep
This system allows you to “recruit” thousands of “salesmen” who are willing to work for you 24 hours a day and 7 days a week. The best part is the fact that they’re willing to do so for nothing! This is a system that allows you to switch your business to “Autopilot” mode so that you could continue to earn money whether you’re awake, asleep or holidaying in Bangkok or Penang. It is a system that allows you to work from home or some places 10,000 km or more away from home.
Having said this, it must be stated that not all affiliate programs are successful. Many affiliate program owners fail because of their lack of the necessary investment, for instance, the merchant needs to invest in an effective tracking system, which is usually an outsourced affiliate network or an in-house affiliate software system. Another factor to consider is having sufficient human resources to recruit, manage, and motivate the affiliates with the right technical support and remuneration. Without a good support system in place, the affiliates will not stay long enough to produce the desired results.
Most online businesses use affiliate marketing strategy to sell their products which could include physical products, software or e-books. Service industry can also benefit from an affiliate program via a pay-per-lead program.
Before a merchant could establish an affiliate strategy, he should consider many factors among them are the answers to the following questions:
1) What are the benefits to the affiliates? What commission rate should be offered to affiliates to attract them and motivate them?
2) What are the competitors doing? Are there any innovative strategies that could produce product differentiation?
3) What pay-for-performance model should be adopted?
4) How to manage the affiliates and motivate them?
5) How are the affiliates paid using the latest technology without affecting their moral due, for instance, to delayed payment of their commission?
6) What affiliate software tracking systems are available and which is the best for the purpose?
A well designed affiliate program could bring very explosive positive results to the affiliate program owners’ business and the stream of income for the affiliates themselves.
An affiliate strategy done right can increase online sales tremendously. There are well over 30 affiliate software packages to choose from. There are also more than 200 features in affiliate software and network offerings.
With all these possibilities, no wonder many success stories of the Internet businesses today are the results of suitable application of affiliate programs. Indeed, most online businesses could not survive today without effective affiliate programs..
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