Affiliate marketing is a simple online business concept. In a nutshell, it is when you sell other people’s products for a commission, often 50-75%.
Find products relevant to your business, blog or social media post and promote these as an Affiliate Marketer to your audience.
If you have the trust of your audience and provide value, promoting a “high-quality” product or service to them will be of even more value to them. You are helping people to address their issues in life and reach their goals.
Affiliate Marketing For Experts
More people will have access to your expertise and will pay you for your services as they do in your 9-5 job.
There is nothing to stop you creating your online presence while you maintain your 9-5 work. In time you can decrease your face to face time, grow your client numbers and reach a global audience with online information, courses, membership sites and coaching products.
You can create your own products or use high quality products that suit your client base and audience. The products you promote are called Affiliate Products, and you can find them in specific sites called an Affiliate Network as well as on websites.
If you scroll to the bottom of any website you may see ” Affiliate Program or ” Partner Program,” and this is their invitation to you to access their products, information and services.
Affiliate Products Are Free to Promote
Don’t ever pay for a product or pay for any promotional material. When you decide on a product, you have free access to many resources.
These include product details, website, sales page, banner advertisements, logos, and other promotions. You choose which resources to use to suit your business and audience.
Choosing the right Affiliate Products
How do you know which one is the best affiliate product to promote? Try to answer as many of these questions as you can. Do your research because you need to provide value.
- How good is the product?
- How relevant is the product to your clients needs
- Does the product fit with your blog or social media content
- Will the project build your reputation or make it sink
- Have you researched the product
- Have you tried the product
- Can you honestly recommend the product
- Is it linked to a modern website or outdated site
- Does it link to a sales funnel, i.e., more than one product to sell in a sequence?
How a Sales Funnels takes your earning potential to the next level.
Many affiliate marketers, when they start thinking about promoting one product to one person.
Here is the difference between a single sale and a funnel.
Consider a single $50 product. You need to sell 100 of these single products to 100 individuals to make $5000
With a co-ordinated sales funnel, you start in the same way but with a lower cost entry product, say $7- $29 product from JVZoo, Clickbank or your information product. It could be an ebook, a checklist, or a workbook.
When you have offered an initial high-value low-cost product, your customer is looking for more and wants to learn more or improve a skill set from you.
The next level product or service will be a little bit more expensive it might be $200, and then there might be another one that would cost you know maybe $1,000 this is over a period
An example of a funnel is a $7 ebook to a $39 per monthly membership site to an annual membership with a 20% discount at $374 to an individual coaching program valued at $997.
A funnel can be developed for any niche topic.
Let’s look at the difference in income. For a single sale, you could earn $7 per individual. With a co-ordinated funnel, this could be as high as $1,300 per individual.
As an expert, you understand your client’s needs and struggles. It should be easy to create or promote the products of value. The more value you offer, the further along the funnel they will travel.
Where to Find Your Affiliate Products
Many experts create their products using existing information resources from their 9-5 work.
There are also Affiliate Networks where product creators sell their products including a sequence of co-ordinated products promoted as a funnel.
To keep it simple, start with Clickbank, JVZoo and Amazon Associates. They are all huge networks, yet there are differences to consider.
|Commissions||50 – 75%||Up To 100%||2-4 %|
|Type of Product||Informational
|Payments||Monthly||Immediate for more than 50 sales, or a month||Monthly, once a minimum threshold is reached.|
|Approvals Required To Sell||Generally Not||No||Yes|
|Approval Required to Promote Your Product on the Platform
|Refunds||Automatic, no questions asked||Vendors (i.e., original owner of the product)
need to agree to Refund to the buyer
|30 days, no questions asked|
|Money Back Guarantee||60 days for all products||None Specified||All cancellations, returns and refunds must be accepted.|
Affiliate Networks such as Clickbank, JVZoo and Amazon Associates are top-rated and offer many diverse products to suit your business and provide value to your audience.
Once you have chosen a product to test with your audience, there are still more questions you need to answer.
You need to do your “due diligence” with the affiliate vendor, i.e., the person who owns the product. Ask the seller some questions and find out;
- How is there customer service? To you and your customers?
- How and when commissions are issued, by a cheque, direct deposit, or PayPal; every program is different.
The Benefits of Affiliate Marketing
The set-up costs and risk are low. There is no inventory to be kept in your spare room and no contracts for reaching specific sales points. If the product is not selling, you find a better one. There are no contracts that bind you to sell the products. Always read the information provided by the vendor for commission payment arrangements.
The ability to make money with affiliate marketing is high. You need put in the effort to learn the strategy and drive traffic