One of the key elements to success with affiliate marketing is picking the right products to promote. They could be digital information products, memberships, physical products, online services… there are many industries that use this model. When promotiing to your target market, you may be promoting one or many of these different types of products as an affiliate.
A sound product strategy is a must for new affiliate marketers. Ideally, you should choose a niche that you can make money online with and has a lot of product vendors. This will give you a wide selection of products to offer your online community. However, limit yourself to two or three products at a time, so that you become the expert others turn to and trust when reaching for their wallet.
Wow! Thank you for such a complete description of affiliate marketing. I just started casually blogging a few months ago and your post gives me a great view into just how much work is involved if I’m going to successfully monetize my blog. I just shared a short post titled “A Blogger’s Nightmare – 0 Active Users” commenting on having blog traffic…I definitely see that there’s a lot more involved! Thanks again.
Overpriced. The Basic Membership is not expensive, but if you want to earn big commissions you will have to spend thousands of dollars buying the rest of their products or at least the Pro Membership. Although the training is good, it only focuses on a couple of marketing strategies. SAN is not a cheap program and no one can guarantee your success.
Affiliate marketing has become a massive online industry over the past several years, emerging as both an effective way for marketers to sell their products and services and for publishers to monetize their audiences. Despite the popularity of affiliate marketing, many publishers still aren’t aware of exactly what affiliate marketing is or how it works. In some cases, these publishers are gatekeepers to an audience that could be very effectively monetized through affiliate marketing, meaning that they’re passing up an attractive revenue stream.
In an ideal world, your affiliates would know immediately whether the lead they delivered was valid or not. Unfortunately, this isn’t always the case. Depending on your end goal for your lead, the process may take minutes or months to complete.For example, your goal may be to build an email database, which typically requires a lead to fill out a simple form. On the other hand, your goal might be to have the lead purchase a service, which may take months for the sale to close. Either way, transparently communicating with your affiliates about how often and when lead quality will be evaluated is crucial to growing a strong relationship with your partners.Also, be sure to set clear expectations with your partners defining what a quality lead looks like so they can send the highest quality lead volume your way.
Take, for instance, American Express’ hyper-personalization strategy. At the Direct Marketing Association’s 2018 &Then conference, David Knapp, the company’s director of digital marketing, discussed how this strategy has resulted in a compound annual growth rate of 150% in engagement for the company’s email marketing efforts -- as well as a slew of awards for the best email marketing campaign. This forward-thinking approach was driven by looking at customers’ data to understand their spending habits as well as what incentivizes them.
Good point about reviewing online courses before you promote them to protect your reputation. However, I would like to point out that the level of attention the course creator gives you (the endorser) and what they give to a random customer might be very different. There are so called marketing gurus out there who are extremely skilled at making false promises and not delivering on them. Once they have the endorsement of a few reputed marketers and some ‘lucky’ customers, they can easily get away with ripping other people off with hyped up money making guarantees. I have had a personal experience with this as a customer, but lets not mention names! The point is, when we are promoting someone, we need to do an in-depth due diligence. Only going through their course is not enough. It would be great if there was some kind of a course review site -something like tripadvisor. This is something that the industry really needs – something to make people accountable. A lot of people are losing faith in these online courses. I am staying away from promoting people unless I am very certain of their integrity.