| |
Discover
How Affiliates Earning $40,000+ Per Year Guarantee
Their Success By Asking These "To-The-Point" Questions
BEFORE Joining Any Affiliate Program!
Like a gorilla on
steroids, there is a powerful way to add profits to your bottom line --
and that's through actively participating in the "right"
affiliate program. By "right" affiliate program, I mean the
one that's right for you.
For our readers
who are unfamiliar with what an affiliate program is, it's simply a
"no-risk" partnership that allows you to promote another
company's product or service on your web site to earn a percentage of
the sales. As one of the company's "affiliates" (promotion
partners) you earn a commission each time someone you've referred to
their web site makes a purchase. You might post a banner on your web
site that links to the affiliate program's site, or you might publish an
article about the company and their products in your newsletter.
No matter how you
promote them, though, it's a win-win arrangement for both of you
because:
- The affiliate
program gets "no-risk" advertising (in most cases, they
don't pay you unless one of your referred visitors makes a
purchase),
- And you, the
affiliate, get the opportunity to earn easy extra income without
the hassles of production, packaging, shipping, or customer service.
Generally, there is no fee for you to join and you can leave the
program whenever you choose.
Forrester Research
recently reported that by 2003, 21% of all online sales will be driven
by affiliate sites promoting affiliate products like this; however,
before you become an affiliate and grab your share of this
multi-billion dollar commission income pie, it's extremely important
that you educate yourself on how to know which is the best affiliate
program to join and which are the most profitable affiliate products to
promote.
While it's not
uncommon to find site owners earning $40,000+ per year promoting just
one or two affiliate products (and that's not including the
"regular" income many of them earn promoting their own
products), the fact is that not all affiliate programs are created
equal. For example, while our own Internet Marketing Center affiliates
enjoy commissions upwards of $4,000+ per month (lower traffic sites
typically see $400 - $900 a month), there are plenty of other affiliate
programs out there that are NOT as generous... or as reputable!
With literally
thousands of new affiliate programs having come online since my last
article on this topic, I wanted to make sure that you don't make a
mistake and waste your time and efforts promoting a program that will
not generate the extra income you deserve.
So to help you
choose the "right" affiliate program, I've put together a list
of the seven critical questions you MUST ask to ensure you make the best
choice and give yourself the greatest opportunity for success.
| Question
#1: |
Is
the product or service offered for resale by the affiliate
program something you would use and personally recommend? |
First and
foremost, the affiliate product you promote should be something that you
truly believe in. It should be something that you would personally use
yourself and be comfortable recommending to your best friend. Think of
your role as a consultant who personally:
- Researches
products available in your specialty,
- Objectively
compares the product to its competitors,
- Ensures that
the one you choose to promote outperforms the competition by
offering a major benefit,
- And then
"reports" your findings to your web site visitors and
opt-in subscribers.
Your customers
benefit by saving the time they would have taken to conduct their own
research, by saving money, and by being offered the best solution for
their purchasing dollars.
Look for
products that offer exceptional value and unique benefits that
potential buyers want but will not be able to find anywhere else. During
your research, also watch for new product announcements. New products
can bring in first-time buyers, previous purchasers who wish to upgrade,
and owners of competitive products.
With literally
thousands of programs to choose from, there's no reason for you to
promote an affiliate product that you don't truly believe in. Money is a
great motivator, but you should never let the lure of "quick
cash" cloud your thinking. When you build your online business
around the best interests of your customers, the money will follow.
| Question
#2: |
Does
the affiliate product you are considering promoting
"fit" with your web site's theme?
|
As you research
various affiliate products, watch for those that fit closely with your
existing web site's theme; any affiliate product you consider promoting
should match the interests, needs, requirements, and budgets of your
current customers and web site visitors.
For example, if
you sell wild bird feeders, you could join an affiliate program that
allows you to earn commissions promoting bird feed, books on identifying
wild birds, audio recordings of birds, binoculars, and maybe even night
vision goggles for late-night bird watching.
Any product that
enhances customer enjoyment, increases personal productivity, or
provides a desirable benefit should be considered. Also, look for
products that can be used alongside your offer, or that may be needed
prior to using your product or afterwards. You will then be offering
your customers a "complete" solution... not just one component
of it.
Pay close
attention to the comments you receive from your customers and
subscribers. Both positive and negative feedback can give you critical
clues about products or services your market is looking for to fill a
need that your product cannot. You can then use this information to look
for an affiliate program that offers more of what they tell you they
want, or that provides a solution to one of their pressing problems.
SPECIAL
NOTE: If you find an exceptional product that does not match
your web site's theme or the interests of your visitors, and if
it is so exciting that you believe it has excellent potential
for a different niche market, then I suggest you develop a
separate web site, opt-in mailing list, and promotional campaign
just for that specific product.
You'll earn much bigger commissions developing targeted niche
sites like this than by turning your homepage into a flea market
that makes you look unprofessional and decreases your
sales. |
| Question
#3: |
Is
the company reputable? |
Your buyers are
relying on you to make sure that every product and service you recommend
will perform as promised. If you're considering joining a particular
affiliate program, check to see how long the company has been in
business and investigate them as thoroughly as you would any prospective
business partner. See if they offer a "testimonials" page. Ask
questions about their products in various industry newsgroups and
bulletin boards.
When you recommend
another company to your visitors, it's your reputation that's on the
line. Ask yourself if associating with this affiliate program will
enhance your reputation with your online community. If it won't, then
you have a good reason to pass on the "opportunity." Your
reputation is priceless. Only associate with the best in your industry.
| Question
#4: |
Do
they stand behind their product with a solid guarantee and
excellent after-sales service? |
A key component in
selling over the Internet is removing as much of the "risk" as
possible for the potential customers -- people will look very carefully
at the guarantee that comes with any affiliate product or service that
you promote. If the affiliate program you are considering joining does
not stand behind what they sell with a risk-free guarantee, then you can
expect to lose sales and affiliate commissions to their competitors who
do!
As you look at the
guarantee, read the fine print. Are the rules for a customer getting
their money back so tough that it becomes discouraging to even try? Is
it guaranteed for 72 hours, 30 days, or a lifetime? If no refunds are
allowed at all, then the company is making a statement about not only
their product, but also their attitude towards customers.
Phone their help
desk and see how you are treated. If they do not provide a phone number
that clients can call, then try sending an e-mail to their customer
support. Your inquiry should be answered promptly.
Choosing to
associate with an affiliate program that offers "live" support
by phone is important since 57% of online buyers prefer to speak
directly with a "real" person in customer service. Many of
your potential buyers will want to make sure that the company has
someone they can turn to for help before they make their online
purchase.
| Question
#5: |
How
good a job does the company web site do of selling their
product? |
As an affiliate,
you will be referring your visitors and subscribers to the affiliate
program's sales site. It is the other company's "job" to
provide all the information a potential buyer needs to make an informed
decision and then close the sale.
Your web site
should not have to be a "sales site" for the affiliate product
you're promoting. It should be enough for you just to get visitors
interested with a personal recommendation that links visitors to the
sales site. You may only need a simple paragraph stating something
like…
"I just
recently discovered a new toothpaste that I am sure will interest all
my
fellow Nut-Lover.org members. It is made from a variety of Amazon rain
forest
nuts and rum and it has the best taste I have ever enjoyed while
brushing my
teeth. You can visit their site now at..."
You should be able
to explain the product and its unique benefit to your visitors in just a
few compelling sentences. Once visitors click through from your site to
the affiliate program's site, the potential purchaser should easily be
able to get all the information they need to make a buying decision.
If the potential
affiliate program's sales site is confusing, hard to navigate,
unfocused, too technical, or overrun with distracting graphics, then
prospective buyers will quickly move on before they arrive at the order
page. If it's a really bad site, your referred visitors won't be able to
find the order page at all!
Before joining an
affiliate program, look at their product pages from the perspective,
knowledge level, and personal interest of a typical visitor who comes to
your site. If you have a lot more technical expertise or specialized
knowledge than most of your visitors, then terms and explanations that
are easy for you to understand could be mind boggling for them.
| Question
#6: |
How
are commissions paid? |
There are a
variety of tracking and payment systems that affiliate programs use to
calculate your overall sales and commissions. So before you sign up,
you'll want to make sure you have a thorough understanding of how -- and
when -- you'll be paid. Factors to consider include...
| a) |
How
much commission will you earn on each sale?
Consider
both the dollar amount and percentage of the sale price that you
will receive. If it's a product that you'll sell high volumes
of, a lower commission may be more acceptable than a high-priced
product that you'll make few sales with. Look for products that
you'll be able to sell in high volumes while earning a hefty
percentage of the sale -- this is the ideal combination.
For example, here at IMC we pay our affiliates $65 for every
sale of our #1 best-selling "Insider Secrets To
Marketing Your Business On The Internet" course. That's
over 30% of the total price…
and a huge chunk of our profits.
However, we're willing to pay our affiliates such high
commissions because we recognize the "lifetime value"
of our customers. Any affiliate program you join should
recognize this, too.
|
| b) |
Is the
program one-tier or two-tier?
All affiliate programs are either one-tier or two-tier. With
one-tier programs, you recommend the product to your customers,
visitors, and subscribers, and earn a commission for each sale
you refer.
With a two-tier program, you earn a commission on each sale you
refer. However, you can ALSO recommend the affiliate program
to your customers, visitors, and subscribers. Each person who
signs up for the program through your referral becomes your
"sub-affiliate" -- and you earn a commission on each
sale they make!
For example, the IMC Affiliate Program is two-tier. If you
joined our affiliate program and sold a copy of our "Insider
Secrets" course, you would earn a $65 commission. If,
as a result of your recommendation, a visitor to your site
clicked through the affiliate link we give you and joined our
affiliate program, they would become your
"sub-affiliate." Each time one of your sub-affiliates
sells a course, they earn a first-tier commission of $65, and
you earn a second-tier commission of $20.
Obviously,
the benefit of joining a two-tier affiliate program is that you
have an opportunity to recommend the program to your customers
and subscribers to earn some easy extra income on the sales they
make.
|
| c) |
Will
you earn a one-time commission or residual income?
Affiliate
programs that allow you to promote products that customers run
out of, use up, or need to renew are frequently "residual
income," which means you receive a commission every time
the same customers come back to purchase more of the same
product -- rather than just earning a commission on the initial
sale.
Good examples of products or services that might be offered as
residual income through affiliate programs are cleaning
supplies, flowers, web site hosting, newsletter subscriptions,
and dating site memberships.
Commissions
from residual income products can really add up because on top
of the "first-time sales" commissions you can earn
each month, you can also earn more and more "residual"
commissions as satisfied customers you referred come back to
purchase more of the same product!
For example, "Secrets To Their Success" (the
IMC private members' site that features interviews with
successful online business owners) is offered through the IMC
Affiliate Program as a "residual income" product. We
pay our affiliates a residual commission of $6 per month for
each new subscriber they refer for as long as that person
remains a subscriber.
And while $6 might not seem like very much, when you do the math
you will see that your commissions from a residual income
program like this can snowball very quickly:
- 10
subscribers @ $6/month = $60/month OR $720/year
- 100
subscribers @ $6/month = $600/month OR $7,200/year
- 500
subscribers @ $6/month = $3,000/month OR $36,000/year
As you can
see, the biggest benefit of residual income programs is the
cumulative commissions you can earn. Once you've
"sold" a first-time customer, you don't do any more
work, but you continue to rake in the commissions for as long as
that person remains a customer.
|
| d) |
How
much commission do you have to earn before the affiliate program
issues you a check?
Many
affiliate programs require you to have earned a set dollar
figure in commissions before they will issue you a check.
Obviously, printing and mailing checks is an expense for the
company, so it makes sense that they may not want to issue you a
check for only a few dollars. However, there are some programs
that set this "minimum commission" figure extremely
high ($100 and up), which means it can be months before you see
your first check.
Before joining any program, find out the minimum amount that
they'll issue a commission check for and how frequently your
checks will be mailed. Make sure you're comfortable with these
regulations. Ideally, you should look for programs that pay you
monthly, no matter how much you've earned.
|
| e) |
What
currency is the check issued in?
This is an
important question if you're considering joining an affiliate
program based in a foreign country or if you want to be paid in
a strong currency.
|
| f) |
Can you
check your sales statistics online?
Whether
your sales are shown online in "real time" or you are
notified by e-mail whenever you make a sale, be sure to maintain
your own records to make sure your figures match the company's.
Naturally, the easier they make it for you to track your sales,
the more ways you can test your own promotional efforts
(newsletters, advertisements, offline promotions) to see which
ones are giving you the best response and have the highest
conversion (leads to sales) ratio.
|
| g) |
Within
what time period do your visitors have to make a purchase for
you to be credited with the sale?
Ideally,
your referrals will buy "on the spot" once they click
through to your affiliate partner's site. Realistically though,
many people hesitate to make a purchase until they have more
information, more money, or feel more confident that the product
or service is exactly what they are looking for.
To track the sales of those people who click through your
affiliate link but don't purchase the first time they visit the
affiliate program's site, you want to make sure the program you
join uses "cookie" tracking.
"Cookies" are small files that, in this case, contain
the unique affiliate identification number you should be given
when you join a particular program. This cookie with your
affiliate ID# is saved on the visitor's computer so that if they
leave the affiliate program's site, but come back again later to
buy, you will be credited with that sale.
SPECIAL
NOTE: This is very important! You'll also want to
find out how long the cookies are "set" for.
For example, if a company sets their cookies to 30 days,
then you will be paid a commission for every buyer you
refer who makes a purchase within that 30-day period.
If the affiliate program sets their cookies for 30 days
and your referred customer buys 31 days later, then you
won't earn a cent. Here at IMC, our cookies are set
for three years. Be sure you have the answer to this
important question before you make your final selection
of which affiliate programs to team up with. |
|
| Question
#7: |
What
advertising and promotional tools do they provide you with? |
The affiliate
program you join should not expect you to reinvent the wheel. They
should have at least a handful of tools that you can use to promote
their products like:
- Banners
- Text links
- Classified ads
- Product photos
- Testimonials
- Articles
Everything they
provide you with should already be tested and proven to generate the
highest click-throughs and sales, so you can immediately implement them
and start earning top commissions. They should also provide some kind of
training... or at least be willing to speak with you personally about
how you might best promote their products in your newsletter or on your
web site.
For example, if
you'd like to see what a highly developed affiliate training program
might look like, check out our IMC Affiliate Support Center at http://www.marketingtips.com/assoc.
Just sign up as an affiliate (don't worry, it's free to join and you're
under no obligation to do anything) and you'll receive the username and
password you need to snoop around and check out the resources we provide
our affiliates with.
Final
Thoughts:
With so many great
affiliate programs to choose from, with a little research you should
have no trouble finding profitable affiliate products to promote and
earn top commissions. Look for products and services that complement
your existing product line, match the interests of your visitors, and
offer exceptional value.
Only deal with
reputable companies who are proud of their products, stand behind them,
and will bend over backwards to please their customers. With the wide
variety of commission pay plans available, choose one that offers an
attractive incentive.
To find top
affiliate programs, you can visit:
No matter which
affiliate program gets you the most excited, use the seven questions
I've provided you with in this article to thoroughly investigate before
you invest your time and effort. Once you join, if you actively
participate, continue to learn, and keep testing, you'll separate
yourself from the pack and soon be well on your way to earning a serious
part-time or even full-time income promoting affiliate products.
=============================================
ABOUT THE AUTHOR: Derek Gehl specializes in teaching real people how to
start profitable Internet businesses that make $100,000 to $2.5 Million
(or more) per year. To get instant access to all his most profitable
marketing campaigns, strategies, tools, and resources that he's used to
grow $25 into over $40 Million in online sales, visit: http://www.marketingtips.com/tipsltr.html
==============================================
|
|
