5 Tips to Successful Affiliate Marketing
The concept of getting paid to refer a product is not a new one, but a great one. Successful affiliate marketing has long since been a thing for door to door sales men. But with the advent of the internet it has become an increasingly popular business venture for those looking to work from home. Before you run out and join every affiliate program out there take a look at the following tips to help you avoid wasting your time and money.
1. How much traffic does the merchants website receive? Since traffic is a key component to the success of a website, its important to find out what volume the website is getting. You can find websites traffic stats on Alexia.com, but keep in mind that high traffic is not necessarily the element of your success.
A website with traffic stats above 100,000 may already have ample affiliates which makes selling difficult as the competition is fierce. On the flip side a website below 500,000 may be great when it comes to competition but the product may not be a popular web pick. Always research the merchants products and services and, if you can afford it, test the product out for yourself.
2. How much the commission does the merchant offer? Because you dont want to spend more on advertising than what youll make, its best to stick to products with a commission base of 40 percent or greater. Find out how much you will earn on each sale you make or in some cases how much you earn with each tier. Chose affiliate programs that are worth your time and money.
3. How often are commissions paid. Knowing how long you will have to wait before your next pay check is important. Some companies pay commissions weekly, others only pay every quarter. Some companies only pay you once you have reached a minimum commission. For example, you are paid once you reach a 100. You need to know if you can continue your marketing efforts while you wait for your next paycheck otherwise you could see your financial stability quickly unravel.
5. What promotional resources are available? A good merchant who has successful affiliate marketing skills has a wide range of promotional tools to offer his or her affiliates. Take a look at the type and quality of the marketing tools available. Are there banners and prewritten ads for you to use? Is it up to date? Do the links work?
Despite the tools youll be offered, you will also want to create your own ads and content to offer your visitors. By creating your own ads you are able to add your own personal touch. This may be a personal review or a stop-in-your-tracks headline to get your visitors attention. This is especially helpful if the product has been around for a while and the ads that come with the program have been seen several times.
Successful affiliate marketing, though not a new concept, is still one of the best ways to make money on the internet. It may take some research to find the right merchant but this guide should aid you in the process.