How are you going to pay your business expenses and household bills while your business is getting started? That’s a toughie.
So many new internet entrepreneurs think “If you build it, they will come”. I hate to be the bearer of bad tidings, but that happens to Kevin Costner, not you and me. Our online “field of dreams” takes time, persistence and a lot more sweat equity than that. Unfortunately, most people strike out before they ever make a dime. – OK, I’m done with the cheeky metaphors for now anyway, but I can’t make any promises…
Seriously, how do YOU survive until the money starts rolling in? The fact is you will need several streams of income to make the kind of money you probably dream of making. The best way I know to create income before your business takes off is to add Affiliate Marketing to your business mix.
Affiliate Marketing is a business model where you promote other people’s products. When a sale is made through your efforts, you get paid commission. Physical products pay lower commissions; sometimes just 3-4% of the sale price. This is due to the costs of manufacturing, warehousing, shipping, etc. That’s not to say that you can’t make a good chunk of change with Amazon.com or Commission Junction.
Digital downloadable products pay very well, usually 50% or more. A good place to start is to find products to promote created by others you have purchased from, respect and look up to in your niche. I’ve actually earned 100% commissions on some of my digital affiliate products. Some vendors do that on lower priced products in order to get new buyers into their sales funnel.
In all honesty, I learned more about marketing my own business from the affiliate marketing training I received from Connie Green than an anyplace else. Why not kill 2 birds with one stone when you can? (oops, that one slipped)
First, creating a landing page, also known as an opt in page or squeeze page to capture leads and build your list is the smartest way to do affiliate marketing. Instead of sending precious traffic that you would never see again directly to your vendor’s sales page, you need to build a squeeze page with an attractive giveaway relevant to the product you are promoting so they will sign up for your list. This way you can market to them over and over again.
A giveaway can come in many forms. You can make an audio telling or video showing how to do something that pertains to the product. Write a special report or use Private Label Rights to create a report, ebook, teleseminar or ecourse. You can host a training webinar on the subject of your affiliate product and send them to the sales page to learn more on the topic.
Your giveaway can be a digital download or something tangible that they receive in the mail. I suggest the digital giveaway as it gives instant gratification to your prospect, usually costs nothing to produce and is free to deliver.
Once the opt in process is complete your new prospect should then be directed to the affiliate sales page.
Now that they are on your list, you can market to them through email with follow up messages about the affiliate product. Not to mention promoting other products as well as your own business over time. I suggest that you start affiliate marketing with products in your own niche so it will be a natural progression to promote your own products when you start creating them. Here is where you go to sign up for my affiliate program.
. Don’t promote an ebook on how to tie fishing lures to a list you’ve grown in the weight loss niche. That’s why I recommend you stay within your own niche in the beginning. It’s easier and much less confusing to build up one niche when you are getting the hang of it than it is to break-up or segment your lists into many niches.
The products you promote should be products you have purchased and see the value in or products from vendors you have purchased from in the past and trust to only create high quality products. Excessive returns are a nightmare, your list will unsubscribe and you will make a reputation for yourself as someone who would sell anything to make a buck. Reputations stick and are quickly spread on the internet. Guard yours carefully. It’s your 2nd most important asset. You list is #1!
See how it works? You if only promote quality products that fall within your same niche, you are growing a list of future buyers for your own products and building your business as you go. You are making a reputation for yourself, building relationships and becoming someone your prospects grow to know, like and trust. All while creating an income stream.
As time goes by, you may enjoy big enough profits to start niche affiliate marketing in numerous niches with numerous lists, just don’t muddy the waters too quickly.
In my opinion,
Let us know what you think in the comments. We’d love to hear it!