subject: Affiliate Marketing - 6 Steps to Success [print this page] Affiliate Marketing - 6 Steps to Success Affiliate Marketing - 6 Steps to Success
Affiliate Marketing has been one of the newest trends of a product or service promotion and also earning money online. Let us understand the concept of Affiliate Marketing with an example. A merchant who wants to promote specific products or services gets associated with website owners.
As per the agreement, the website owners would place the advertisements of the merchant on the website. The website owner gets to earn money each time the merchant is able to sell products or services because of the website. The owner of the website is known as the affiliate of the merchant and the entire process is known as Affiliate Marketing.
There are three ways in which an affiliate businessman can have online income:
Pay per Click: Each time a visitor to the affiliate website visits the merchant's website by clicking a link on the affiliate website, a certain amount of money is deposited in the account of the affiliate.
Pay per Sale: Each time the merchant sells a product or service because of the advertisements placed on the affiliate website, the affiliate is paid a predetermined commission.
Pay per Lead: Each time a visitor or an interested customer registers at the merchant's website because of advertisements placed on the affiliate website, the affiliate earns a predetermined amount.
The following tips will help one to set up a successful affiliate marketing business.
First, identify the markets for your products and services and then identify the affiliate partners who can market your products and services in the most effective manner. The identification of affiliate partners can be done on the basis of the compatibility of business philosophy; fame and the reach of the website; website construction and look and feel and so on.
Second, keep the business terms and conditions transparent and fair. This helps build trust and creates a long term relationship with your affiliate.
Third, supply the affiliate website with innovative promotional materials so that the marketing becomes easier for them. Determine the strategy of marketing and use banners, pop-ups, text links, articles and other promotional avenues that will entice potential customers.
Fourth, keep adding new affiliates to your business promotion program. Post advertisements in the local dailies and get enlisted in the affiliate directories. You can also contact the affiliate business houses to check out whether they would be interested.
Fifth, keep the payment terms and conditions absolutely upfront and ensure that the payments are made on time.
Last, you can use affiliate marketing software programs that will help you manage all affiliate marketing business agreements. This will help you keep track of the documentation; agreement; payment terms and conditions; sales per affiliate and other related issues.
