Tips On Marking Money From Affiliate Marketing – Part 1

Affiliate Marketing

You may become an affiliate of a company to use their products for yourself. If you joined because you are wanting to make money online to supplement your job then you are involved in part time affiliate marketing. If you have seleced affiliate marketing as a career path then you are part of a small minority of people who are serious about making money online as an affiliate marketer. You definitely need to know your goals if you are going to engage in affiliate marketing full time to work your business in a profitable manner to make money online.

Your Potential Customers As An Affiliate Marketer

Assuming you have have become an Affiliate Marketer on a full time basis it is essential you work out approximately how many potential customers your business will have. You also need to know what is likely to make someone a potential customer for your product and/or service. If you have an established business ask yourself where they buy your product from now. Does your existing business rely primarily on cold calls, referrals, instant messenger communications or email marketing?

You need to have a basis for choosing your particular product or service, and will probably have chosen it because, based on your research, you believe that it appeals to people. You may also have selected your product or service with a view to building a team of people under you, as team building with a good product and/or service is a powerful way to increase your market potential. information is a part of your business plan. You need to formulate the idea first, research your idea in as much details as you can as your success at making money online through affiliate marketing depends on this foundation.

What Do  You Know About Marketing?

Have you been involved in internet marketing in any capacity before? There are many other terms which you will encounter on the internet in the marketing sphere. If you aren’t familiar with the marketing jargon used on the internet do some research and familiarise yourself with them and the business models so that you can better understand the marketing landscape. The following are a few of the terms you may encounter:-landscape. “-

Affiliate Marketing

You probably already know that making money online using Affiliate Marketing is most frequently associated with a commission structure of some kind which pays you money.

Autoresponder On Drip System

This is software which automatically sends out emails based on client programmed criteria

Direct Marketing

You would probably be familiar with direct marketing which is distinguishable from multi-level marketing. Multi-Level-Marketing involves a commission structure which is based on payouts at two or more levels. Network Marketing is merely a term used by those involved in multi-level marketing to depict how their businesss operate

What Is Your Market Potential?

You need to research your market potential by understanding and measuring, to the extent that you can, what your product or service offers to people, how it will benefit them and why they need your product and/or service. For example, if you are marketing health food products, you would be aware that almost everyone is concerned about maintaining good health. The health food industry is a large one without age barriers. You can market your products to virtually any person, anywhere in the world, irrespective of their age or employment status.

Your potential market can even include other aspiring entrepreneurs who want to get involved in working from home, meaning that you have many potential team members to help you build your business.

Marketing Is Hard Work

Don’t be deceived by get rich quick systems for affiliate markeing promising overnight riches. Don’t believe that because your market is a booming one you will not need to invest much time or effort online or offline to succeed in making money. You will have to invest time and money in making sure you have the requisite training, skills, product knowledge and are totally committed to your product and/or service.

Affiliate Marketing Is A Traditional Business

Affiliate marketing or affiliate business is no different to a brick and mortar business in this sense. You have to work your business to be successful. This is a mistake that many people recruiting others make, namely not emphasising that hard work and perserverance is involved. Your product and/or service will not sell itself or generate money unless you work to generate leads and continue to refine your target market. This is not an overnight process. It takes time and effort and is a gradual process.

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What Tools Do You Need As An Affiliate Marketer?

As an Affiliate Marketer you need to work out how to locate and enrol prospects. The tools alone will not make you successful in making money online as an Affiliate Marketer. You need to work daily on your business and use the tools to build effectively and productively to build your business as an affiliate marketer.

Instant Messengers

There are many instant messengers available and it is up to you to decide which one to use, but instant messengers are a major part of your marketing strategy.

Email Marketing

Email is also a critical part of your affiliate marketing strategy. You need to craft well-constructed e-mails as they can work very well in person to person prospecting.

Phone Marketing

Nobody likes phone marketing but it is part of relationship marketing and like the other forms of marketing, must be done professionally, diligently and effectively. Nobody really likes cold calling however there are people you may consider recruiting for this task with the necessary expertise.

You need to use relationship marketing responsibly in order to enrol loyal team members as this will duplicate your efforts in building your affiliate marketing business.

Article Marketing

Article Marketing is a very effective form of marketing. Article Marketing involves you providing articles you have written to article marketing sites in addition to other websites, blogs and ezines for free. This form of marketing establishes your credentials as an expert or authority on your product or service, generates leads and increases the traffic to your website. This in turn improves your ranking in the search engine results pages.

Blogging

Blogging is an area of expertise in and of itself, are two other essential tools in your marketing strategy. Blogging provides you with a forum to combine visual media, text, links to other blogs and webpages about your business product and/or service. You can post updates about what you are doing, any new additions you have made to your products and/or services, including special promotions, sales or competitions.

Search Engine Optimisation

Search Engine Optimisation is a set of techniques which involve determining what internet users might search for to find you on the internet. These techniques help to match those visitors with websites that offer what they are wanting to find.

How Do You Use These Tools Effectively in Marketing?

You may be an SEO or blogging guru, which means that you will be able to handle these tasks yourself. However when it comes to marketing, it is critical that you ensure that your source, recruit and work with the right people to help you build your business. You will need to recruit for your downline in order to make your online business a success to make money online.

When you are recruiting prospects to work with you ensure you take the time and effort to do so properly. You need to properly qualify your prospects otherwise they are likely to perform poorly, drop out or even make costly mistakes which could ruin your business’ name and reputation.

 Particularly where you are using phone marketing, relying on referrals, instant messenger communications and emails you must appreciate the importance of properly qualifying prospects. Invest time to learn about your prospect and their needs by interacting with them and determining how your product can fulfil their needs.A qualified prospect is a person or a business who either needs or desires your products or service because it satisfies a need or solves a problem they have.

The key in marketing is in letting your prospects know of what you are offering. How do you know how to go about acquainting them with your business and its products and/or services? You will have completed your research prior to contacting them and you will also know your product and/or service.

Getting to know your prospect is called relationship marketing. Over a period of time interacting with your prospect you will start to build a profile of who you are dealing with and know if you want to work with them as a team member. Remember that you have to be discerning in qualifying prospects as your product and/or service is your business and you want to ensure that you select the right people to be your brand ambassadors.

Relationship Marketing – Your Customer

Relationship marketing doesn’t just apply to recruiting team members to build your brand. The concept of relationship marketing evolved in the 1960s and within a couple of decades it’s emphasis was on building long term enduring relationships rather than focusing on completing single transactions. The marketing philosophy known as your customers life cycle offers a range of products and/or services based on the fact that people actually need them. It also applies to attracting customers but more importantly retaining them rather than marketing your business to them in an offensive or aggressive manner.

It is shortsighted not to focus on your existing customers to enhance your profitability or invest time and money repeateadly trying to attract new team members. Your focus should be on building a dedicated and loyal base of people who return to your business. “Churn” is the term used to describe people who won’t come back to your business. Another term you will hear in the discourse regardingg keeping people and increasing their loyalty is defensive marketing. People who have already spent money on your products are the key to continued profitably and building long term residual income.

Start perceiving your customers in terms of their lifetime value. Take the attitude that they are a long term asset which you value and treat well. If your customers remain happy they will remain loyal and be less likely to defect to another business. The cost of keeping an existing customer is about 10% of the cost of acquiring a new one.

Methods Of Relationship Marketing

If your are engaging in relationship marketing online, you need to start communicating with your customers and build a rappall with them. There are a variety of methods and tools at your disposal including email marketing, instant messaging, community forums, blogging, video marketing, websites and press releases. Your objective should be to showcase what your business is offering and entice prospects to visit your website to view it. This is not an easy task and takes a lot of work. Once your visitors have come to your website you need a way to capture their email address by giving them an instant reward which will capture and retain them interested.

What you offer should be meaningful quality information so that it enhances your credibility. It could be in the form of program registrations. Remember that this process is akin to beginning a relationship. You need to offer value to earn your customers commitment and participation. You may consider offering value by demonstrating how they can get the best value or usage of their purchase. Whatever you do to add value it should be something that sets you apart and distinguishes you from your competition, a sure way of ensuring word of mouth referrals and long term customer retention. If your customers are happy and feel like they are part of a community then also become brand ambassadors and team builders for your business.

Website Marketing

Remember that your website is not your business. It is a marketing tool. Your website can use web-based relationship marketing in different forms.

CONCLUSION

In the next article i this series we will focus in more detail on the specifics of affiliate marketing and different markeing methods employed. For example in the next article the importance of article marketing is discussed as an effective tool of affiliate marketers. However it is critical to understand that affiliate marketing online is not dissimilar to a traditional bricks and mortar business. The tools used online to market your business may be different but the basic tenets are the same. Your focus should be on preparing a well researched business plan and building enduring and trusting relationships with your customers in order to be successful online as an affiliate marketer..
 

Adele Pace holds a Masters of Law and writes in the area of online business  and ecommerce. For more resources on online business and ecommerce visit www.pacelegal.com.au


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