Affiliate Program As It Should Be
Every off- or online business has a target of growing its market share. Under all other equal conditions the percent of the market, occupied by a company, means certain level of recognition, brand, exposure and, therefore, sales and income.
For small business owner a shift from 0.01% internet market share to 0.04% may result in tremendous four times income growth, the problem is in the limits of resources this particular owner has access to. Usually they are weak enough to allow such expansion at their own cost.
Help may come from two massive marketing instruments: - viral marketing; - business partnership based on outsourcing necessary resources.
Today we are going to speak about latter instrument of gaining exposure you deserve.
Business partnership is an agreement between two or more legal entities to cooperate together in order to reach mutually beneficial results. By extrapolating such statement into a framework of gaining market exposure, we can narrow this meaning down by focusing on uniting promotional efforts for reaching mutually beneficial results.
In practice the owner of affiliate program with the aim of gaining extensive market exposure attracts fellow marketers to promote the owner's(s') product(s) for a reward usually in the form of commission from retail price per sale. A commission for popular info products may vary from 5% to 70%.
Promotional materials (like, endorsement letters, reviews and articles) can greatly assist your partners in promoting your product as highly effective pre-selling tools.
The dilemma of joining affiliate programs
The most common mistake beginners do is registering with all possible and impossible affiliate programs they see in hope to promote them all and collect all the money they were promised to get on the page of respective affiliate program owners.
In dominating majority of cases they end up with wasted time and money. The reason is simple, they don't have necessary resource - a database of consumers, subscribers, business partners - people who may be interested in such type of offers. Instead, those newcomers decide to start their online businesses by promoting other people's products, what is extremely hard, because you will build client database and credibility for the company products of which you promote, not for yourself. The only thing you can do is to grow the subscription database, unfortunately, the most valuable asset - loyal clients - won't be accessible in any case.
Some well-known internet millionaires, making fortunes cross-promoting 3rd party products may truly support the idea of "easy income with affiliate programs", but they tend to forget that all their profits were possible due to huge subscriber databases, thousand of affiliates and customers a newcomer does not have!
That is why start wise by creating your own product, grow your credibility, circle of loyal customers and then join and promote as much 3rd party products as you consider necessary.
Setting up partner program
Every partner program you will create or setup should have, at least, basic must-have features:Database driven registration of affiliates.Tracking affiliate sales in order to count commission.Admin control panel to support affiliates and track their sales.
There are 3 basic methods of having fully functional partner programs application, not going far into science, they are "do it yourself", "setup 3rd party application", "use 3rd party service".
The first method is for those, who are knowledgeable programmers and fortunate enough to invest a lot of time in creating such a solution for personal needs or those, who are lucky to have a lot of money and hire those knowledgeable programmers. Responsibility for taking under control all support and function-related issues would lie on your shoulders.
Setting up 3rd party affiliate program solution requires much less time or money, if any. The result will be the same as above - fully functional partner program and inevitable support problems. The only difference is that you won't be able to develop that partner application the way you need and like.
The main advantage of 3rd party service is the ability to stay unaware of how your partners sign up, track sales, receive checks and so forth, because in this case servicing your partners or affiliates will be the headache of independent company, not yours. For such "reluctance" 3rd party affiliate program provider would charge you on monthly or per sale basis, slightly decreasing your net profit at each sale.
Having your own affiliate program in place enables you to expand your market boundaries exponentially.
About The Author
Pavel Lenshin is a devoted Internet entrepreneur, founder of ASBONE.com" target="_new">ASBONE.com, where you can find everything to make your business prosper.
Market futures to kick off a new week are positive at this hour as Chinese markets overnight were up big for the second straight session After weeks of crushing selloffs of up to 15 especially following weaker than expected Q3 GDP reports in the world s second largest economy we see 5
By Avi Gilburt, ElliottWaveTrader.net The general investment public usually applies the same principles when they choose how and when to invest their hard-earned money. (And we wonder why the general public always gets caught holding the bag at the highs and selling at the lows?) And, much of these “principles”
With little on the docket today regarding new economic data besides calendar Q3 earnings reports Existing Home Sales come out after the market opens today with expectations that September will be slightly weaker than August then earnings reports is where we shall focus Pre market trading
Three weeks ago, when Brent Crude prices hit $80 a barrel on fears of an imminent supply crunch with the Iran sanctions, one of the world’s top oil traders—Trafigura—was one of the first to start talking about a return of $100 oil. Three weeks later, Brent Crude is again trading at nearly $80 as of early Thursday,
Earnings reports from calendar Q3 are starting to come in heavier like a storm of numbers raising the levels of investment discourse Both prior to today s market open we see plenty of companies who are leaders in their respective industries putting out new earnings reports today
Oil prices fell to a one-month low on Wednesday, pushed down by a rather bearish report from the EIA that showed a large increase in crude inventories. Brent briefly dipped below $80 per barrel and WTI was back below $70 per barrel as of Wednesday afternoon. The EIA said that crude oil inventories rose by 6.5
Under pressure emanating from other tech companies to cut ties with the Pentagon, Amazon CEO Jeff Bezos isn’t blinking—regardless of what his employees think: Instead, Amazon will play a role in America’s defense because Bezos thinks it’s the right thing to do. But it’s also a good opportunity to look at the timing
Article by Avi Gilburt, ElliottWaveTrader For many years, I have been a staunch bull. In fact, many commenters and contributors on Seeking Alpha and MarketWatch were quite vocal regarding how they thought I was crazy back in 2016 for expecting the market to go from 1800 to over 2600SPX, and potentially up through
Will the investment performances of the first nine months of 2018 continue into the last quarter or will they reverse? So far, October is hinting reversals. We use heat maps to explore sector-style-country segments of global markets. See what has won and lost so far this year. We’re in the last quarter of 2018,
As investors welcome mostly positive Q3 earnings results so far early on in the new reporting season we also get new information on the housing market this morning from a couple different sources Housing Starts Building Permits and new Mortgage Applications All these figures reflect some
There are some early signs that the U.S. shale industry is starting to show its age, with depletion rates on the rise. A study from Wood Mackenzie found that some wells in the Permian Wolfcamp were suffering from decline rates at or above 15 percent after five years, much higher than the 5 to 10 percent originally
Despite a growing economy, the U.S. deficit has risen 17 percent for the fiscal year ending September 30th, hitting $779 billion . This is the highest level since 2012, when it hit $1 trillion—but in the aftermath of a recession. This year’s excuse doesn’t include recession damage control. In fact, it somehow
By Fire Sale Buyer ByFire Sale Buyer Investment Thesis Investment ThesisInvestment Thesis Like an odd swan in a flock of ducks Tremont TRMT is a much disliked puny net net REIT that pays no dividends but will very likely grow into a beautiful outperformer At a 34 million
Shutterstock photo Silicon Valley has completely disrupted many aspects of our lives, changing the way we use technology, and only a few years ago, it seemed inevitable that it would completely upend the way we think about FinTech (Financial Technology), but it hasn't quite worked out that way. Why is that?
If you re a market participant looking to re direct your focus away from international challenges like Saudi Arabia North Korea Russia et al you re in luck Q3 earnings reports are hitting the tape fast and furious at this hour We will take this opportunity to summarize a handful of