Home Based Online Marketing News What To Ask About Affiliate Programs
- From: Roger Schoenwald <rwspub@xxxxxxxxx>
- To: hbomn@xxxxxxxxxxxxx
- Date: Fri, 12 Apr 2002 18:18:18 -0700 (PDT)
HOME BASED ONLINE MARKETING NEWS
"Helping You To Be Successful Online"
A e-zine publication of
RWS Publishing
Onlinesuccessstrategies.com
April 13, 2002
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Hello Subscribers,
We have a great article on selecting affiliate
programs this week. Many online make their money
with affiliate programs. Here is a guide.
To your success,
Roger Schoenwald
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In Today's Issue
1. What To Ask About Affiliate Programs
2. Online Marketing Product Profile
3. E-Commerce Resources
4. Subscribers 2 Line Ads
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1. This Weeks Success Article
"Discover How Affiliates Earning $40,000+ Per Year
Guarantee Their Success By Asking These 'To-The-Point'
Questions BEFORE Joining Any Affiliate Program!"
=================================================
Like a gorilla on steroids, there is a powerful way to ADD
PROFITS TO YOUR BOTTOM LINE -- and that's through actively
participating in the "right" affiliate program. By "right"
affiliate program, I mean the one that's right for YOU.
For our readers who are unfamiliar with what an affiliate
program is, it's simply a "no-risk" partnership that allows
you to promote another company's product or service on your
web site to earn a percentage of the sales.
As one of the company's "affiliates" (promotion partners)
you earn a commission each time someone you've referred to
their web site makes a purchase. You might post a banner on
your web site that links to the affiliate program's site,
or you might publish an article about the company and their
products in your newsletter.
No matter how you promote them, though, it's A WIN-WIN
ARRANGEMENT FOR BOTH OF YOU because:
1) The affiliate program gets "NO-RISK" ADVERTISING (in
most cases, they don't pay you unless one of your
referred visitors makes a purchase),
2) And you, the affiliate, get the opportunity to EARN
EASY ADDITIONAL INCOME WITHOUT THE HASSLES of
production, packaging, shipping, or customer service.
Generally, there is no fee for you to join and you can
leave the program whenever you choose.
Forrester Research recently reported that by 2003, 21% of
all online sales will be driven by affiliate sites promoting
affiliate products like this.
However, before you become an affiliate and grab your share
of this multi-billion dollar commission-income pie, it's
extremely important that you educate yourself on how to know
which is the best affiliate program to join and which are
THE MOST PROFITABLE AFFILIATE PRODUCTS to promote.
While it's not uncommon to find site owners EARNING $40,000+
PER YEAR promoting just one or two affiliate products (and
that's not including the "regular" income many of them earn
promoting their own products), the fact is that not all
affiliate programs are created equal.
For example, while our own Internet Marketing Center
affiliates enjoy commissions upwards of $4,000+ per month
(lower traffic sites typically see $400 - $900 a month),
there are plenty of other affiliate programs out there that
are NOT as generous... or as reputable!
With literally thousands of new affiliate programs having
come online since my last article on this topic, I wanted
to MAKE SURE THAT YOU DON'T MAKE A MISTAKE and waste
your time and efforts promoting a program that will not
generate the additional income you deserve.
So to help you choose the "right" affiliate program, I've
put together a list of THE SEVEN CRITICAL QUESTIONS YOU MUST
ASK to ensure you make the best choice and give yourself the
greatest opportunity for success.
============
Question #1:
============
Is the product or service offered for resale by the affiliate
program SOMETHING YOU WOULD USE AND PERSONALLY
RECOMMEND?
First and foremost, the affiliate product you promote
should be something that you truly believe in. It should
be something that you would personally use yourself and be
comfortable recommending to your best friend.
Think of your role as a consultant who personally:
1) Researches products available in your specialty,
2) Objectively compares the product to its competitors,
3) Ensures that the one you choose to promote outperforms
the competition by offering a major benefit,
4) And then "reports" your findings to your web site
visitors and opt-in subscribers.
Your customers benefit by saving the time they would have
taken to conduct their own research, by saving money, and
by being offered the best solution for their purchasing
dollars.
Look for products that offer EXCEPTIONAL VALUE AND UNIQUE
BENEFITS that potential buyers want but will not be able to
find anywhere else. During your research, also watch for new
product announcements. New products can bring in first-time
buyers, previous purchasers who wish to upgrade, and owners
of competitive products.
With literally thousands of programs to choose from, there's
no reason for you to promote an affiliate product that you
don't truly believe in. Money is a great motivator, but you
should never let the lure of "quick cash" cloud your
thinking.
When you build your online business around the best interests
of your customers, the money will follow.
============
Question #2:
============
Does the affiliate product you are considering promoting
"FIT" WITH YOUR WEB SITE'S THEME?
As you research various affiliate products, watch for those
that fit closely with your existing web site's theme; any
affiliate product you consider promoting should match the
interests, needs, requirements, and budgets of your current
customers and web site visitors.
For example, if you sell wild bird feeders, you could join
an affiliate program that allows you to earn commissions
promoting bird feed, books on identifying wild birds, audio
recordings of birds, binoculars, and maybe even night vision
goggles for late-night bird watching.
Any product that enhances customer enjoyment, increases
personal productivity, or provides a desirable benefit
should be considered.
Also, look for products that can be used alongside your
offer, or that may be needed prior to using your product
or afterwards. You will then be offering your customers a
"complete" solution... not just one component of it.
Pay close attention to the comments you receive from your
customers and subscribers. Both positive and negative
FEEDBACK CAN GIVE YOU CRITICAL CLUES about products
or services your market is looking for to fill a need that
your product cannot.
You can then use this information to look for an affiliate
program that offers more of what they tell you they want,
or that provides a solution to one of their pressing problems.
=============
SPECIAL NOTE:
=============
If you find an exceptional product that does not match
your web site's theme or the interests of your visitors,
and if it is so exciting that you believe it has excellent
potential for a different niche market, then I suggest you
develop a separate web site, opt-in mailing list, and
promotional campaign just for that specific product.
You'll EARN MUCH BIGGER COMMISSIONS developing targeted
niche sites like this than by turning your homepage into a
flea market that makes you look unprofessional and decreases
your sales.
============
Question #3:
============
Is the company REPUTABLE?
Your buyers are relying on you to make sure that every
product and service you recommend will perform as promised.
If you're considering joining a particular affiliate program,
check to see how long the company has been in business and
investigate them as thoroughly as you would any prospective
business partner.
See if they offer a "testimonials" page. Ask questions about
their products in various industry newsgroups and bulletin
boards.
When you recommend another company to your visitors, it's
your reputation that's on the line. Ask yourself if associating
with this affiliate program will enhance your reputation with
your online community.
If it won't, then you have a good reason to pass on the
"opportunity." Your reputation is priceless. Only associate
with the best in your industry.
============
Question #4:
============
Do they stand behind their product with a SOLID GUARANTEE
AND EXCELLENT AFTER-SALES SERVICE?
A key component in selling over the Internet is removing as
much of the "risk" as possible for the potential customers
-- people will look very carefully at the guarantee that
comes with any affiliate product or service that you
promote.
If the affiliate program you are considering joining does
not stand behind what they sell with a risk-free guarantee,
then you can expect to lose sales and affiliate commissions
to their competitors who do!
As you look at the guarantee, read the fine print. Are the
rules for a customer getting their money refunded so tough
that it becomes discouraging to even try? Is it guaranteed
for 72 hours, 30 days, or a lifetime?
If no refunds are allowed at all, then the company is making
a statement about not only their product, but also their
attitude towards customers.
Phone their help desk and see how you are treated. If they
do not provide a phone number that clients can call, then
try sending an e-mail to their customer support. Your
inquiry should be answered promptly.
Choosing to associate with an affiliate program that offers
"live" support by phone is important since 57% of online
buyers prefer to speak directly with a "real" person in
customer service.
Many of your potential buyers will want to make sure that
the company has someone they can turn to for help before
they make their online purchase.
============
Question #5:
============
How good a job does the company web site do of SELLING THEIR
PRODUCT?
As an affiliate, you will be referring your visitors and
subscribers to the affiliate program's sales site. It is
the other company's "job" to provide all the information
a potential buyer needs to make an informed decision and
close the sale.
Your web site should not have to be a "sales site" for the
affiliate product you're promoting. It should be enough for
you just to get visitors interested with A PERSONAL
RECOMMENDATION that links visitors to the sales site. You
may only need a simple paragraph stating something like:
"I just recently discovered a new toothpaste that I am
sure will interest all my fellow Nut-Lover.org members.
It is made from a variety of Amazon rain forest nuts and
rum and it has the best taste I have ever enjoyed while
brushing my teeth. You can visit their site now at..."
Before joining an affiliate program, look at their product
pages from the perspective, knowledge level, and personal
interest of a typical visitor who comes to your site.
If the potential affiliate program's sales site is confusing,
hard to navigate, unfocused, too technical, or overrun with
distracting graphics, then prospective buyers will quickly
move on before they arrive at the ordering page.
So make sure the sales page makes YOU want to buy! And while
you're at it, make sure their ordering page actually makes it
quick and easy to purchase!
============
Question #6:
============
How are COMMISSIONS PAID?
There are a variety of tracking and payment systems that
affiliate programs use to calculate your overall sales and
commissions. So before you sign up, you'll want to make sure
you have a thorough understanding of how -- and when -- you'll
be paid.
Factors to consider include...
a) HOW MUCH COMMISSION WILL YOU EARN ON EACH SALE?
Consider both the dollar amount and percentage of the sale
price that you will receive. If it's a product that you'll
sell high volumes of, a lower commission may be more
acceptable than a high-priced product that you'll make few
sales with.
Look for products that you'll be able to sell in high volumes
while earning a hefty percentage of the sale -- THIS IS THE
IDEAL COMBINATION.
For example, here at IMC we pay our affiliates $65 for every
sale of our #1 best-selling "Insider Secrets To Marketing
Your Business On The Internet" course. That's over 30% of
the total price... and a huge chunk of our profits.
However, we're willing to pay our affiliates such high
commissions because we recognize the "lifetime value" of our
customers. Any affiliate program you join should recognize
this, too.
b) IS THE PROGRAM ONE-TIER OR TWO-TIER?
All affiliate programs are either one-tier or two-tier. With
one-tier programs, you recommend the product to your
customers, visitors, and subscribers, and earn a commission
for each sale you refer.
With a two-tier program, you earn a commission on each sale
you refer. However, you can ALSO recommend the affiliate
program to your customers, visitors, and subscribers. Each
person who signs up for the program through your referral
becomes your "sub-affiliate" -- and you earn a commission on
each sale they make!
For example, the IMC Affiliate Program is two-tier. If you
joined our affiliate program and sold a copy of our "Insider
Secrets" course, you would earn a $65 commission.
If, as a result of your recommendation, a visitor to your site
clicked through the affiliate link we gave you and joined our
affiliate program, they would become your "sub-affiliate."
Each time one of your sub-affiliates sells a course, they earn
a first-tier commission of $65, and you earn a second-tier
commission of $20.
Obviously, the benefit of joining a two-tier affiliate
program is that you have an opportunity to recommend the
program to your customers and subscribers to earn some easy
additional income on the sales they make.
c) WILL YOU EARN A ONE-TIME COMMISSION OR RESIDUAL INCOME?
Affiliate programs that allow you to promote products that
customers run out of, use up, or need to renew are frequently
"residual income," which means YOU RECEIVE A COMMISSION EVERY
TIME THE SAME CUSTOMERS COME BACK TO PURCHASE MORE of the
same product -- rather than just earning a commission on the
initial sale.
Good examples of products or services that might be offered
as residual income through affiliate programs are cleaning
supplies, flowers, web site hosting, newsletter subscriptions,
and dating site memberships.
Commissions from residual income products can really add up
because on top of the "first-time sales" commissions you can
earn each month, you can also earn more and more "residual"
commissions as satisfied customers you referred come back to
purchase more of the same product!
For example, "Secrets To Their Success" (the IMC private
members' site that features interviews with successful online
business owners) is offered through the IMC Affiliate Program
as a "residual income" product.
We pay our affiliates a residual commission of $6 per month
for each new subscriber they refer for as long as that person
remains a subscriber.
And while $6 might not seem like very much, when you do the
math you will see that your commissions from a residual
income program like this can snowball very quickly:
10 subscribers @ $6/month = $60/month OR $720/year
100 subscribers @ $6/month = $600/month OR $7,200/year
500 subscribers @ $6/month = $3,000/month OR $36,000/year
As you can see, THE BIGGEST BENEFIT of residual income
programs is the cumulative commissions you can earn. Once
you've "sold" a first-time customer, you don't do any more
work, but you continue to rake in the commissions for as
long as that person remains a customer.
d) HOW MUCH COMMISSION DO YOU HAVE TO EARN BEFORE THE
AFFILIATE PROGRAM ISSUES YOU A CHECK?
Many affiliate programs require you to have earned a set
dollar figure in commissions before they will issue you a
check. Obviously, printing and mailing checks is an expense
for the company, so it makes sense that they may not want to
issue you a check for only a few dollars.
However, there are some programs that set this "minimum
commission" figure extremely high ($100 and up), which means
it can be months before you see your first check.
Before joining any program, find out the minimum amount that
they'll issue a commission check for and how frequently your
checks will be mailed. Make sure you're comfortable with
these regulations. Ideally, you should LOOK FOR PROGRAMS
THAT PAY YOU MONTHLY, no matter how much you've earned.
e) WHAT CURRENCY IS THE CHECK ISSUED IN?
This is an important question if you're considering joining
an affiliate program based in a foreign country or if you
want to be paid in a strong currency.
f) CAN YOU CHECK YOUR SALES STATISTICS ONLINE?
Whether your sales are shown online in "real time" or you
are notified by e-mail whenever you make a sale, be sure to
maintain your own records to make sure your figures match
the company's.
Naturally, the easier they make it for you to track your
sales, the more ways you can test your own promotional
efforts (newsletters, advertisements, offline promotions)
to see which ones are giving you the best response and have
the highest conversion (leads to sales) ratio.
g) WITHIN WHAT TIME PERIOD DO YOUR VISITORS HAVE TO MAKE A
PURCHASE FOR YOU TO BE CREDITED WITH THE SALE?
Ideally, your referrals will buy "on the spot" once they click
through to your affiliate partner's site. Realistically though,
many people hesitate to make a purchase until they have more
information, more money, or feel more confident that the
product or service is exactly what they are looking for.
To track the sales of those people who click through your
affiliate link but don't purchase the first time they visit
the affiliate program's site, you want to make sure the
program you join uses "cookie" tracking.
"Cookies" are small files that, in this case, contain the
unique affiliate identification number you should be given
when you join a particular program. This cookie with your
affiliate ID# is saved on the visitor's computer so that if
they leave the affiliate program's site, but come back again
later to buy, you will be credited with that sale.
=============
SPECIAL NOTE:
=============
This is very important! You'll also want to find out how
long the cookies are "set" for. For example, if a company
sets their cookies to 30 days, then you will be paid a
commission for every buyer you refer who makes a purchase
within that 30-day period.
If the affiliate program sets their cookies for 30 days and
your referred customer buys 31 days later, then you won't
earn a cent. Here at IMC, our cookies are set for three
years. Be sure you have the answer to this important
question before you make your final selection of which
affiliate programs to team up with.
============
Question #7:
============
What ADVERTISING AND PROMOTIONAL TOOLS do they provide you
with?
The affiliate program you join should not expect you to
reinvent the wheel. They should have at least a handful of
tools that you can use to promote their products like:
- Banners
- Text links
- Classified ads
- Product photos
- Testimonials
- Articles
Everything they provide you with should already be tested
and proven to generate the highest click-throughs and
sales, so you can immediately implement them and start
earning top commissions.
They should also provide some kind of training... or at least
be willing to speak with you personally about how you might
best promote their products in your newsletter or on your
web site.
For example, if you'd like to see what a highly developed
affiliate training program might look like, check out our
IMC Affiliate Support Center at:
http://www.marketingtips.com/assoc
Just sign up as an affiliate (don't worry, it's free to join
and you're under no obligation to do anything) and you'll
receive the username and password you need to snoop around
and check out the resources we provide our affiliates with.
===============
Final Thoughts:
===============
With so many great affiliate programs to choose from, with a
little research you should have no trouble finding profitable
affiliate products to promote and EARN TOP COMMISSIONS. Look
for products and services that complement your existing
product line, match the interests of your visitors, and
offer exceptional value.
Only deal with reputable companies who are proud of their
products, stand behind them, and will bend over backwards to
please their customers. With the wide variety of commission
pay plans available, choose one that offers an attractive
incentive.
To find top affiliate programs, you can visit:
1) Associate Programs
(http://www.associateprograms.com/index.shtml)
Great resource that reviews an extensive list of affiliate
programs and offers a top-10 affiliate program list.
2) Refer-It (http://www.referit.com/main.cfm)
A search engine for affiliate programs that offers affiliate
news updates on their homepage.
3) Lifetime Commissions (http://www.lifetimecommissions.com)
Gives you a choice of 83 different residual income affiliate
programs.
No matter which affiliate program gets you the most excited,
use the seven questions I've provided you with in this article
to thoroughly INVESTIGATE BEFORE YOU INVEST YOUR TIME AND
EFFORT.
Once you join, if you actively participate, continue to learn,
and keep testing, you'll separate yourself from the pack and
soon be well on your way to earning a serious part-time or even
full-time income promoting affiliate products.
----------------------------------------------------
ABOUT THE AUTHOR: Corey Rudl is the owner of four highly
successful online businesses that attract more than 6
million visitors and generate over $5.2 million each year.
He is also the author of the #1 best-selling Internet
Marketing course online.
To check out his site that's JAM-PACKED WITH THE EXACT
INFORMATION YOU NEED to start, build, and grow your very
own profitable Internet business, I highly recommend
visiting http://www.marketingtips.com/t.cgi/5260
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