Affiliate marketing online is not just about recommending someone’s product for a commission, but it’s about creating a customer life time asset that will bring mutually beneficial profitably exchanges between the seller and the consumer.
Affiliate marketing is a viable income generator when done right.
If you are frequent visitor to the digital marketplace you have undoubtedly noticed four types of affiliate marketing. In review type affiliate marketing, a marketer builds a website dedicated to a new joint venture product launch and pitches the merits of this new product and very often include his own product bonuses to motivate sales.
Additionally, review affiliate marketing also contain sites that show case multiple product recommendations with links that leads to marketplaces such as Amazon for commissions, for instance, the top ten laser printers.
Secondly, affiliate marketers use a quiz funnel to qualify and interest a customer, which leads to an optin page which the user must fill before receiving the results of the quiz.
This is usually effective in markets such as relationships and personal development. The optin page will then bridge to a page featuring a pre sell or sales page.
Another popular type of affiliate marketing is the solo ad method. In this case the affiliate marketer buys advertising space inside an email list of a provider.
An email swipe is then broadcasted to the list which will ultimately lead to a landing page with an optin or sales page.
Lastly, digital marketers like to drive traffic using adwords to an offer by buying well known terms, for example, a marketer selling Herbalife would bid for related terms such as Amway, anyone typing Amway in the search engine box will have the Amway ad showing.
The marketer will then populate his landing page with quality information featuring Amway and ultimately redirect the visitors to Herbalife. The less the number of advertisers bidding for the same term, the less the cost per click, provided the quality score is high.
However, for affiliate marketing to be executed properly with long term profits and asset creation in mind; the marketer must follow a different approach.
First, the marketer must have the following inventory items: own products to sell, reasonable budget (at least $500 on a shoe string), funnel pages, a niche to target, subject matter expertise and an autoresponder.
Successful affiliate marketing pivots on taking the prospective and first time customer through a pre-determined process called a sales funnel.
The rational of a sales funnel stems from the fact that it takes time and effort to build trust, like and knowledge sufficient enough to get the customer to commit to a seller by parting with his money.
In affiliate marketing, a sales funnel begins by convincing the target audience that you are the best person to solve their problems by demonstrating your credentials. Customers will always check for skill and experience. Therefore, tell your story right in the beginning to endear the customer and build trust.
This story you will tell in your ebook or video product. Customers usually believe your story when they see your product and this is a huge aid to decision making.
The first stop in the funnel your prospect will reach after clicking on your ad is the optin page. This is where you will give a product away in exchange for an email and a name.
This must be your own product, don’t use private label rights, this practice will hurt your brand. Once the prospect has given you his private information, you have a prospect list.
Use your story, as mentioned, and your subject matter expertise on the niche to build up towards getting the customer to buy your ultimate product (ultimate product is the most expensive product in your mix that you want to sell).
For example, tell them about your achievements, money made or qualifications you have; then introduce aspects of the ultimate product and partly share valuable information. Also embed links in the ebook or video product to invite the prospect to a presentation where you pitch our ultimate product at a pre-determined future time.
Webinars work well when selling high ticket products. So the freebie that you give when they optin is an upsell technique. The Inbox Blueprint product by Anik Singal is by far one of the best product in the market assisting marketers to create a funnel process.
When the prospect optin to grab the freebie, he is led to a thank you page. This also called a pre sell page. This is the second stage for our audience.
In the presell page you will then have a short copy that introduces what is called a tripwire product. This a product that is for sale but does not cost more than $10.
A tripwire has to be related to the lead magnet product given for free. The purpose of this product is to give something that is highly valuable in order to stimulate brand advocacy and prepare the first time customer to buy a maximum of two upsell products.
A tripwire also must be the affiliate marketer’s product. When they but the tripwire, you now have a buyers list.
The third and fourth stop is offering your audience an upsell product at something like $47 price point and consecutively $97. This product must also be owned by you. At this stages of the funnel you will have an affiliate list and buyers list.
You will make some money in this front end process as described, but the real profit will come from the backend as you field with newsletter broadcasts from inside your autoresponder.
You will use the affiliate list to pitch your products for the first 5 days with email broadcasts to increase your revenue potential. Then you can begin to pitch other people products that are related to your niche.
Also continue giving valuable information by emailing offers that does not involving selling. Email abuse will spoil your brand and lead to your prospects unsubscribing.
Furthermore, you will then pitch in a similar manner to your customer list. This happens in the backend. And as a marketer you will start earning back end profits.
Remember that the ultimate aim is to guide your customer to buy your most expensive product in your mix, this product will often cost $147 to $247, and this can’t be done without a funneling process.
The final stop is the webinar stage where you leverage all the preceding stages to influence your customers and prospects to buy your ultimate product. This done by using webinar presentations. This is affiliate marketing on steroids.
This process synergizes all the inventory items mentioned previously and exposes why it important to first plan and make sure what you offer is undergirded by your experience and skill.
Credibility, your own products and traffic to this pages plays a critical role. This the ekasi perspective to affiliate marketing done right.