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.
The media is biased, and I am outraged! No, not in a political sense. That is a matter of perception, and that perception varies from country to country and from generation to generation. What I am talking about is the media’s bias towards the negative. That is universal and timeless. No matter how hard you try, it
Late August in the stock market is not usually the time one starts thinking about Merger Monday but a surprising development has greeted investors this morning with news that soft drink and snack giant PepsiCo PEP will be acquiring DIY beverage company SodaStream SODA for 3 2 billion
Economic growth was supposed to bring greater prosperity to working and middle-class Americans, but as wages fail to keep pace with economic growth, many are struggling with jobs that simply don’t pay enough. Instead, economic growth is benefiting the wealthy, if Labor Department statistics are anything to go by.
There are many remarkable things about this Presidency, so many in fact that we often lose sight of major changes. Just a couple of years ago, the idea that policy discussions and proposals would come in a series of early morning tweets would have been absurd, but that is where we currently are. The Trump tweets
Pre market activity is offering us something of a respite this morning with no major economic data points or major earnings reports expected ahead of the opening bell Once markets are open we will see a new read on August Consumer Sentiment Leading Economic Indicators for July and a Q2
The pound sterling concluded Wednesday trading in negative territory, dropping for the 11 th consecutive day against the U.S. dollar. That marked the longest losing streak by the currency since the 2008 financial crisis as the unraveling of a perfect storm pulls it down. For Britons heading for the holidays,
I am baffled by the amount of media coverage given to President Trump's targeted tariffs. So far these trade wars amount to a tempest in a teapot. [xxxmore] I have said it many times and I will say it again - nobody wins in a trade war. But the biggest loser is always the biggest exporter. However, the media
New Thursday morning economic data has just been released with fresh Initial and Continuing Jobless Claims Housing Starts and Building Permits and an updated Philly Fed survey read joining quarterly results from Walmart 160 WMT While the big box retailer outperformed expectations much
A slew of new economic data has hit the tape ahead of Wednesday s opening bell in addition to big names in the Retail sector continuing to report quarterly earnings results Retail Sales Productivity and Unit Labor Costs along with the latest Empire State Index join earnings results
As the U.S.-China trade war escalates, a growing number of analysts and organizations have increased warnings that further trade tensions could dent economic growth, consumer spending, and investment flows globally—all of which could curtail the world’s oil demand growth. Robust oil demand, geopolitical tensions,
U S stock index futures recorded solid gains ahead of market open on Tuesday as the Turkish lira staged a rebound After hitting an all time low and falling to 7 24 per dollar on Monday the Turkish lira finally rebounded rising more than 4 The Turkish lira had been under pressure that had
The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer,
U S stock index futures wobbled ahead of market open on Monday as the Turkish lira continued to slide Last week s concerns over Turkey s economy continued to weigh on shares of major U S lenders leading to huge selloffs in global equity markets The Turkish lira fell as much as 20 at
U S stock index futures fell sharply lower on Friday as geopolitical conflicts between the United States and Russia as well as with Turkey dented investor s confidence Moreover prolonged trade war fears with China continue to dampen market sentiments On Aug 8 the U S government imposed
Understanding how to uniquely manage each client during periods of market volatility is a major issue for advisory firms. So, when you have the capability to predict each client’s reactions in advance of market movements, communication is straightforward, as you will understand their reactions to the mood of the