Affiliate Marketing - 3 Key Elements
The process of selling someone else's product
, or service, is called Affiliate Marketing. This where a merchant pays a percentage of the sales proceeds as commission to the Affiliate. This has become one of the biggest areas of Internet Marketing because it costs so little to get started and the profits can be incredibly high. The trading is usually done through a third-party, service provider or Affiliate network.
The Merchant has the benefit of potentially having many people (Affiliate Marketers) who are promoting his product or service. Between them they can cover a very large proportion of the market. For this reason he can afford to pay good commissions to Affiliates who manage to bring in sales. Commissions of 50% or even 75%, of the selling price, are quite common.
The Affiliate Marketer has the benefit of very high commissions. If he chooses the right products to promote he can develop a very high conversion rate for his advertising efforts. Each time a potential customer clicks on his 'affiliate link' they are usually taken to the merchants sales web-page where the actual sales transaction takes place. The Affiliates link ensures that he is credited with the sale and is awarded the commission.
There is an increasing number of people wanting to become an Affiliate Marketer. If you are one of these people then you should follow the following key elements to make it work profitably.
1. Try brainstorming to pick a subject that you are already interested in, or passionate about. It's much easier to promote someone's products if you already know something about the subject. In the eyes of your potential customers you will be seen as a specialist or an expert in that market. If you can achieve this perception then you are more likely to be trusted and your product recommendations more likely to be purchased.
Keyword research will help determine what monthly search volumes are and it will give you alternative keyword suggestions to use in your marketing and promotional work. However, simply having good search volumes is not enough. Your chosen market, or niche, must also prove to be a profitable one, otherwise it's not worth the effort if it doesn't result in sales. For example, you are likely to find that golfers spend more money on their hobby than, say, gardeners.
If you do Google searches, using your chosen keywords, you need to find that other people are already advertising something. This means that these people are making money. Check out the same search terms again, a few days later, to see if the same ads are being displayed. This will confirm that there are 'buyers' in your chosen field.
2. Check out different Affiliate networks, or service providers, to see what products or services that have to offer in your chosen subject. When you find one that you think will sell you should create a web-page using a relevant domain name and provide a pre-sell message that will grab your visitors attention and turn them from browsers into buyers. The pre-selling idea is so that you can use your marketing skills to condition the visitor before he/she is directed to the merchants web-site. This will increase your chances of making a sale.
There are quite a few Affiliate networks to choose from. Some offer a larger range of subject categories than others. Some provide really useful data about the products listed. For example, an expression of popularity, commission paid and whether it has a repeat payment (monthly) element.
3. You are now all set to go. You have researched your chosen niche, proven that it has good search volumes and that it is also profitable and picked out a suitable product that you believe will sell. Your web-page has been created to suit your chosen product and you've added your promotional words to entice your visitors to buy.
It's a great feeling when all this comes together and works. The rewards for making it work are truly enormous. You will find lots of evidence of people who are earning a very comfortable living from Affiliate Marketing.
Time for you to have a go !
Affiliate Marketing - 3 Key Elements
By: Michael Prest
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