You can make serious money, with internet affiliate marketing programs – I’m talking about job replacing, life-changing income. If that interests you (and why wouldn’t it), then please read on.
So, what is this affiliate marketing thing all about anyway? It’s not complicated, all it involves is selling someone else’s product or service for a commission. That’s it.
You don’t have to create a product, which is a good thing. Creating products takes a lot of work, like hours and hours of work. With that said, there is work involved with internet affiliate marketing programs as well. Ultimately, your results will reflect the amount of effort you put in.
In this post, we’ll discuss product creation versus internet affiliate marketing programs, the benefits of affiliate marketing (especially if you’re just starting out) and some of the concepts behind a basic sales funnel.
What’s involved in creating a product?
To give you an idea of the work involved in creating your own product to sell online, here’s a useful breakdown of what it could look like:
Note: in our example, we’re costing your time in at only $10 per hour! In my case, I can make up to $125 /hr working with clients, so even if you cost in my “fall back” rate of $95 /hr am I really prepared to spend a whopping $17,670 to create a product that may or may not sell?
I’ve created products in the past and I’ll probably do so again, but if you’re just getting started, I wouldn’t recommend it as your first step. It makes much more sense to sell someone else’s product until you find your feet and learn the ropes.
So, that brings us to internet affiliate marketing programs or selling someone else’s products to get started.
10 benefits of internet affiliate marketing programs
Internet affiliate marketing programs have quite a few benefits associated with them, here are just 10:
- You quickly maximize your earning potential and can start making money right away.
- You don’t need any product expertise or specialist knowledge, all the collateral you need is usually provided, including things like email swipes to send to potential customers.
- You don’t have to worry about processing orders, stock control, invoicing and payment processing.
- You don’t have to deal with customer complaints (thank goodness!).
- Joining an affiliate program is normally quick and painless, just a two-minute online signup and you’re good to go.
- You’re your own boss and can set your own schedule and income goals.
- Affiliate marketing takes place online, so it’s the perfect work from home opportunity.
- Most affiliate programs have a good support mechanism in place to help you.
- Affiliate marketing is normally zero to low risk.
- It’s usually free to join an affiliate program.
So, as you can see, there are real benefits in going down the affiliate marketing route rather than creating your own product.
That said, there are some real challenges any newcomer to affiliate marketing will face. Probably the most difficult of these is finding the right product to avoid getting off on the wrong foot with outdated information that no longer works.
If you go at it blindly, you’ll likely waste hundreds if not thousands of dollars chasing down dead ends. Personally, I’ve spent $25,000+ getting my online “education”, so let me help you avoid spending that kind of money!
Of course, that’s why I set up FYF in the first place with the intention of helping you out by only providing solid, actionable information to get you off on the right foot.
What else do you need apart from a product to sell?
The basic building blocks of affiliate marketing are not that complicated. You need a product to sell, a way of attracting interested prospects (traffic) and a way to convert your traffic into buyers of what you have to offer. It doesn’t have to be any more complex than that.
A Basic Sales Funnel
You’ll likely hear a lot of talk about “sales funnels” in relation to internet affiliate marketing programs and, at the start, a basic sales funnel is definitely the way to go.
The diagram below gives you an overview of what a basic sales funnel looks like.
Let’s break down the steps involved one by one.
STEP 1 – ATTRACT
So, assuming you’ve selected an affiliate product to promote, you need to attract potential buyers. Some of the common ways to do this are through Social Media such as Facebook, Twitter, Pinterest, YouTube etc. You can also consider buying traffic from Google, Bing and other sources. This is known as paid traffic or PPC (Pay Per Click).
Another method to attract potential customers is to create a blog (like this one) and offer helpful information to your audience. If they’re interested in what you have to say and YOU’RE GENUINELY HELPING THEM they’ll naturally move to the next stage where you engage them.
STEP 2 – ENGAGE
In order to engage with your audience, you’ll want to capture their email address. This is a very important step because you want to be in a position to “keep the conversation going” and a great way to do this is through regular emails.
Visitors may come to your website if you build one, but they may also only stay there for a minute or two. So, it’s essential you capture their email. You can also use a landing page with a free offer, such as a valuable eBook to capture emails.
STEP 3 – NURTURE
Once you’re building your email list, you’ll want to nurture your relationship with that list. This can be done via a series of automated emails using an autoresponder. An autoresponder is simply an online service that allows you to stack up a series of emails in advance to be sent at the times you choose.
STEP 4 – INVITE
Being as you’re an affiliate marketer, you’ll next want to invite your audience to buy something from you that you get paid an affiliate commission on. Your subscribers may well not buy on the first invitation. But, if you’re offering them a product that is genuinely useful to them, solves a problem or makes their life easier/ better in some way there’s a reasonable chance they will.
STEP 5 – CONVERT
In the final stage, you’ve converted a subscriber to a paying customer, but it doesn’t stop there. Your job now is to continue Step 3 and nurture your customer by being genuinely helpful and providing information they’ll want to consume. This will earn you the right to invite your customer to purchase again as you uncover more products and/ or services in which they’ll be interested.
So, to sum up the key points…
There’s nothing wrong with creating a product to sell online, in fact, it can be extremely lucrative. However, it’s not the best route for someone new to marketing online.
Internet affiliate marketing programs, (selling a product that has already been created for a commission) is the best and quickest way to get started.
The objective is to build your audience by offering genuine help and value and earn the right to offer a product or service that you know your audience will benefit from.