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Table Of Contents
- 1 How To Choose An Affiliate Marketing Program
- 2 What Is Affiliate Marketing?
- 3 What Is An Affiliate Program?
- 4 What Factors Should You Consider When Choosing An Affiliate Marketing Program?
- 5 Bottom Line
How To Choose An Affiliate Marketing Program
Today’s topic is about selecting the best Affiliate Marketing Program to suit your business needs. I am going to walk you through factors to consider so that you can reap the most benefits out of your affiliate marketing efforts.
But first, let have a quick overview of the basics, shall we?
What Is Affiliate Marketing?
This is one of my highly recommended business models anyone can start even without prior knowledge or experience because it is easy to learn. When you are an affiliate marketer, you earn money by promoting or recommending other people’s products.
When people buy as a result of your recommendation, the product owner rewards you for your efforts and pays you a commission. Do you see what just happened?
You helped someone make a good decision on buying a particular product, the product owner made a sale, and you got paid. It is a win, win, win.
Why Should You Start An Affiliate Marketing Business?
If you have been considering starting your own business, affiliate marketing is just the type to go for because of the following reasons:
- Affiliate marketing is fairly cheap to start
- It is easy to learn affiliate marketing even if you have never done any type of business before
- You don’t have to invest in complicated product development activities
- You don’t need to keep any stock inventory
- There is no need to worry about customer care, deliveries, returns
- You don’t have to sell a thing! Your role is to make product recommendations, end of the story.
- You can earn money over and over just from one action. For example, if you wrote a product review of the best underwater camera and optimized your review with SEO (Search Engine Optimization). That review will rank on the first page of search engines and will reach thousands of people. Lots of people are looking for underwater cameras and some of them will definitely buy via your review. Can you see the earning potential resulting from writing just that review? Your earning potential is limitless with affiliate marketing.
How Do you Start An Affiliate Marketing Business?
The best place to start affiliate marketing is in the classroom. Start by learning the basics first if you have never done it before.
The benefits of learning are to help you avoid mistakes that many beginners do and end up losing lots of money.
If you are not good at something, learn. Invest in yourself. I have a few recommendations of the Affiliate Marketing Training Classrooms you can join.
1. Project 24 by Income School – Check out the review of Project 24
2. Wealthy Affiliate- You can find out more on Wealthy Affiliate here
Both of these affiliate marketing training programs teach you how to create your very own affiliate marketing website through step by step training. They also teach you how to take advantage of free SEO traffic.
In my opinion, these programs are legit and beginner-friendly. They will teach you everything about affiliate marketing without breaking our bank.
Another benefit you can derive from both Project24 and Wealthy Affiliate is that they run their own affiliate programs. When you refer people to learn Affiliate Marketing from any of these, you will be paid a commission.
What Is An Affiliate Program?
An affiliate program is an arrangement by the product owner to use the marketing efforts of others to help him sell more and in return, he pays the other guys a percentage of the sales. Lots of product owners boost sales through Affiliate programs.
Affiliates (You and I) will work hard to promote other people’s products because we earn income that way. The product owner saves on marketing costs because we do that for him.
The product owner can pass on the cost of rewarding us to the end-user by charging slightly more to cater for commission percentages.
How Do You Join An Affiliate Program?
Most affiliate programs are free to join. However, there are those ones where you have to pay to play. That means you have to buy their product in order to qualify as an affiliate.
What Factors Should You Consider When Choosing An Affiliate Marketing Program?
This is very important. Most times people simply join Affiliate Programs because there is earning potential. But I strongly advise that you take some factors into consideration before choosing an affiliate program.
These factors will augment your earning potential and also help you preserve your integrity as a business owner. Let us dig deeper…
1. Product quality
This is the first and most important factor. Is the product you want to be associated with good quality? Do people like it? Does the product live up to its promise?
You don’t want to be promoting a poor quality sham product because it is going to be very hard for you to make commissions.
If you are lucky to make commissions, they may not be sustainable earnings that can change your life. Then what will be the whole point of promoting such a product?
Are margins high enough to earn you significant income without having to sell thousands and thousands of products? Would you go for a product with very low margins just to earn something?
Or would you rather focus your efforts on a product with higher margins? That means the owner will be able to charge higher prices, meaning you also get higher commissions.
The truth is that it takes the same amount of effort to promote low margin and high margin products. You choose whether you want to wait to make 1000 sales to earn an adequate monthly income.
Or to make a few sales and earn the same amount. That is why a lot of people prefer promoting medium to high ticket items.
Remember though, that low to medium ticket products is easier to sell than high ticket ones. Therefore as an affiliate marketer, you need to strike a good balance.
Promote some low ticket products just to maintain a steady flow of income that will help you cover your business running costs like paid Ads and tools such as autoresponders etc.
But also have lots of high ticket items which will give you big paydays and enable you to earn way more than you need per month. With affiliate marketing, it is all possible.
We are in this business to change our lives. Be able to afford nice things you have always wanted. Be able to save money for a comfortable retirement. it is all possible. You just have to make the right choices.
This is a bit of a technical issue but it is important to understand how the tracking works.
Do they have solid tracking links? You want to go for a company with good tracking capabilities to ensure that all sales made through your marketing efforts are traced back to you.
How long does the tracking last? The longer the tracking period the better for you. That is why you will need to read those long fine print terms and conditions.
Understand very well what you are getting yourself into. Don’t just “accept” like most of us sometimes do because we hate reading the fine print.
Will you get paid for everything the customer buys and will it be over and over or just for a limited number of purchases? You need to know all that.
I love how Amazon runs their affiliate program. If you have bought from Amazon, you know how they show you “related” products and you end up buying something you had not originally planned on buying.
This kind of product bundling is great for the affiliates. Amazon credits every sale the customer makes to the affiliate link that brought in that customer.
4. Marketing Materials
Do they have great material and sales funnels? Some affiliate programs will provide you with their own marketing tools to help you promote their products.
This is going to make your life much easier and avoid you wasting time trying to figure out how to carry out the promotions.
Remember, the owner of the product is willing to help you because you are also helping him sell more of his product.
So, it won’t hurt you to find out if there is any form of affiliate support in the form of marketing materials like high converting sales videos, sales team, etc.
Another vital aspect you want to know is whether or not the company you intend to work with has a good reputation.
How well do they treat their affiliates? Do they pay on time and in full? Do thorough due diligence into a company’s profile before you commit yourself.
You don’t want to break your back generating them lots of traffic only for your commissions not to be paid, or paid late or even not to be paid in full.
There are 5 most important considerations you have to make before joining and affiliate program:
- Product quality
- Marketing materials
There could be more but I believe these 5 are the most vital. You cannot afford to make any mistakes with those. Otherwise, you run a risk of losing money or not making any at all.
Thanks for reading, I hope you have taken away something helpful from this post. I wish you all the best in your Affiliate Marketing business efforts.
If you have any questions, feel free to ask. I actually take time to respond to all my readers’questions. If you have anything to share go ahead and share.