My Digital Lifestyle
Is Affiliate Marketing for you?
Affiliate Marketing: Pros and Cons
You must have come across thousands of Ads on the web about affiliate marketing explaining how easy it is to execute giving promises that follow my step by step guide to become millionaire in a very short time. I would like to tell you certain facts about affiliate marketing.
1) It is the most attractive form of internet marketing because it requires very less or no investment. You don't have to keep inventory of physical products and you don't have to devote time to develop a digital product that may eventually sell or may not sell. So there is no risk for you to lose money.
2) Although, above fact is true, but initially you need to invest lots of your time unless you have a blog with tens of thousands of viewer ship or a massive email list. Because you need to have an audience to sell somebody's product.
3) In case you don't have audience to sell you have two options. First, you develop your audience in an organic way by writing a few quality articles every week in your blog post about a product and let your blog grow in its own pace. This way, in 1 or 2 years, you will have made a reasonable big audience for yourself and start generating some extra cash which will be something like your pocket money. As the time goes by and you be consistent and disciplined in your approach, a day will come when the size of your audience will grow large enough to start generating enough dollars so that you could get rid of your day job. Second option is that you invest some initial fund towards advertising and build the audience fast. I will write about this strategy in detail in the subsequent capsules.
4) Still, I would say that affiliate marketing concept enables almost anybody to build their business relatively too easy when compared to other businesses. Great part being that you have almost zero chance of losing your money. My advice being that keep your expectations low and be consistent in your approach. Many of the people start with great expectation of becoming millionaire in a very short time and when the realty shows its true face, they give up as fast they had started.
Keep your expectation low and be consistent. You will win.
How to choose products to sell?
As I have written in the previous capsules, you may either choose to sell digital products or physical products. Both have got their up sides and down sides.
Since Digital products have much less cost involved in order to produce them, normally their owners are ready to share good percentage of the sale to affiliate marketers (It may go up to as high as 75%). So you are able to generate more by selling less number of digital products. Down side is that you need more convincing reasons to make a sale as normally great names are not associated with these products and there is always a sense of doubt in the minds of buyers. You may choose digital products of your choice and interest from many sources like JVzoo, Clickbank, Warriors Forum etc. You can write about these products in your blog post and try to convince your audience to buy them. I always recommend that you select the product and niche that you have interest in and you have some kind of expertise in it. Else it will be something like being a car sales man without knowing much about cars. Another factor to consider is that what kind of support the product vendor gives to his affiliates. You will find that some vendors provide articles, email swipes, banners etc. based on which you can develop your own sales documents.
Coming back to physical products, It is much easier to sell as normally names of big business houses are associated with these products like Amazon.com etc. You just need to to find when and what your audience need and you can suggest that particular product on Amazon. They will have very little or no doubt about the quality as they are dealing with a business house like Amazon. Down side of selling a physical product as an affiliate is that it generates very little commission per sale. e.g. Amazon gives a commission of 4 to 10% to its affiliate. So, you need to make many sales to generate a reasonably decent money.
Strategy that works for me: Ranjan's Funnel
Before I jump over to my strategy, let me explain to you about CPA (Click per Action) Network and believe me there is a reason for explaining this as it is a very crucial part of my strategy. CPA offers are the ones where you ask your audience to do certain simple things as asked by the CPA advertisers. These actions may be filling up a simple form, watching an Ad etc. CPA advertisers acquire some details like name, email address etc. for a certain section of the audience as per their requirements. Nobody has to buy or sell anything. Now, CPA advertisers pay a small amount (Anywhere between $1 and $5) to their affiliates. Although, commissions are small but it is very easy to complete as your audience doesn't have to buy anything. Now, I will explain my strategy, where I first use CPA offer to generate some income and then we can use that income towards advertisement to sell other Affiliate products.
1) Select any of the CPA advertiser's sites like Max Bounty, CPA Leads, Yoonla etc. and create your publisher's account. Although all of them works well but I normally recommend Yoonla as their style is very straight forward and pay out is quite good ($2 to $4).
2) Select and email marketing company like Get Response or Aweber. Create an account.
3) Make an account with Udimi where you can buy solo ads. People with large email lists sell their solo ads on this website. It works like this. You select an advertiser there and you may buy clicks from him. These clicks costs anywhere from $0.35 per click to $0.7 per click based on many factors. You then give him your email content that you want to send to your prospects. This email contains your affiliate link. If you have bought 100 clicks, the Solo ad seller broad casts your email to 100 emails from his list. I will cover more on this in the subsequent capsules.
4) Make an account with lead pages where you can capture your prospect's name and email before you give information on your affiliate product. (At present, CPA offer is your affiliate product.). Idea is to build up your own list in the process of getting commission via CPA Offer. We will use this list later to sell high ticket Affiliate products.
5) We integrate Lead pages with email marketing website where your email list will slowly buildup with the help of lead pages promotion. Do not worry, It is not as complicated as it looks. I will explain the full process in the subsequent capsules.
6) As you start earning sufficient income from the CPA offers, we will invest that money to buy more solo ads. And once your Email list is large enough, We will start our campaigns to sell more serious products where the commission will be reasonably high.
Infograph of My strategy
My Subsequent Capsules
Please give your comment about whatever I have written so far letting me know whether it makes any sense. I will write step by step process of how to implement my strategy i.e. Ranjan's Funnel on next Saturday.
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