Posts tagged Affiliate Marketing
What is affiliate marketing?. Affiliate marketing is where you sell someone else’s product for a commission. Now, this can be a physical or digital product. I started off selling Affiliate products and I still do it today, it’s a wonderful way of making money online and it is very simple to start.
SO, what are the advantages of being an affiliate?
1) You don’t have to create products yourself
2) You don’t have to deliver those products
3) Most of the customer service is taken care of
Now, the best affiliate products, in my opinion, are those that fall in to the following categories:
A) Products that deliver residual monthly income (Subscription based products, like membership sites)
B) Big ticket price.
C) Large commissions
If you can get involved with an affiliate marketing system that produces all three, then that is even better.
So let’s look at that in more detail.
If you keep selling $7 products all the time and you are lucky enough to find a product owner who will let you become an affiliate with a 100% commission on that product (Warrior Special Offers are common for 100% commissions), then to make a $1000 a month, you personally have to sell approximately 143 copies a month.
If you choose a product that sells for a $1000, with a 100% commission, you only have to sell one a month. Now, I know what you are going to say here. “It’s a lot easier to sell a $7 product than it is a $1000 product, right”. Of course it is, but the effort required to sell 143 of those $7 products can also be far greater than selling just one $1000 product.
PLUS, if you want to make a $1000 the next month, you have to sell another 143 x $7 products next month.
It doesn’t really make sense to sell low ticket items, UNLESS the customer pays the low price, EVERY month. Here’s an example:
If you sold 143 x $7 monthly memberships, providing no one quit, you would still make your $1000 a month without the effort of selling 143 items a month just to make the same monthly income. Now, you do need to add people every month, to replace people who quit, even the best membership sites out there have high(ish) quit rates. You can of course cut this down by offering members a one off lifetime membership fee.
Affiliate Marketing, So What Would Be An Ideal Situation?.
Finding an affiliate platform that has residual income products isn’t hard. Clickbank is full of them, however in between selling residual income products it would be nice to bank big $500 & $1000 commissions too, paying 100%.
This is not possible on Clickbank, there are limits to the maximum payments per item Clickbank will allow. Finding high ticket products with 100% commissions is very rare, however some affiliate platforms can do this.
In my view you should always buy a product before you sell it. This is the only way to guarantee that you can answer all questions you may be asked about the product, plus you can’t really recommend a product on it’s merits if you haven’t actually seen it yourself.
So, to recap. Choose residual income products, choose one off high ticket, high commission products too. Affiliate Marketing can be very profitable if you find good, high value products that your customers will love and come back for time and time again.
I hope you have enjoyed this article and that it will give you stimulus to get going and make some great commissions online. Please sahre your thoughts below.
How To Build a Happy List.. The SECRET of Getting Less Than a 2% Refund Rate On Clickbank
By Guest Blogger – Robert Hawthorne, Houston TX USA.
My wife has a few products that she sells on ClickBank, and over the last few years I’ve been shocked at the amount of people who have requested a refund – It’s less than 2%.
While we had our coffee and scrambled eggs my wife so kindly made this morning, we did our normal thing and talked about her business, goals, directions, problems, solutions, ideas for new products, marketing, etc.
The conversation lead to the facet she had received a refund request from someone last night. I asked her how long it has been since she received a refund request and she couldn’t remember. She just looked it up and it was more than 100 sales ago. Looking back through her emails, it’s apparent that she has less than a 2% refund-rate.
The reasons I believe it’s so low is because…
1. It Solves a problem in a non money making niche. One of her ebooks has nothing to do with making money and is a product that helps people solve a problem they have. It’s proven if they follow her advice in her eBook that over time people will be able to rid themselves of this problem.
2. She over delivers - The eBook is Loooooong and is jam-packed with information – much more than the sales letter I wrote discloses. So when people download the ebook and all of the bonuses, they feel as they got a lot for their money – which they really do.
3. She provides a ton of information for free.
Between blog posts and hundreds of articles, she gives away a ton of tips, ideas, and how-to information. Those who read her articles and blog posts realize, “Wow, if she is sharing this much information with the public, I can’t imagine what the information in the ebook is like!”
4. She builds a strong relationship with her list. This is some basic stuff, but all of the emails in her auto-responder are VERY personalized. All the way down to one that I tossed in that a TON of people reply to… most think that the email was sent directly to them personally. People know that there really is someone behind the website and someone that really cares about them. Read that last sentence again.
5. She provides a lot of special offers to those who are on her list.
My wife now has 4-5 products that she offers to this list. Every time we launch a new product, we give everyone on her list a special discount price only available for 7 days before we go live with the offer to the public. This little technique has been very powerful.
6. Survey’s the list often. She not only launches surveys to learn what other products/services her list is interested in, but also to get a general feel for where everyone is at. Based on this information, I make tweaks on the sales letter to overcome new objections that we learn people have. This of course increases the conversion rate and helps future customers feel even more comfortable with their purchase.
7. She responds to all emails - Have you ever purchased a product on ClickBank and you sent an email to the product creator and never heard anything back? This has happened to me many, many times. Heck, it even happened to me last week and I still haven’t heard from the fool.
Most of the emails are “thank you’s” from people, and of course there are emails from those interested in the product, but have some questions first.
Can the email-responding be outsourced? Yes and no. Any technical issues, like download issues can easily be outsourced. However, that is a very small percentage
of the emails. The rest of the emails have to be replied to by my wife personally, there’s no way around it. Yes, that is extra work, but that little extra work is a large reason why the refund rate is so low.
I’m sure there are several more reasons, but wanted to share the few above that immediately came to me. Hope this is helpful.
More from Robert – Read about some serious Game Changing
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