How To Make Money As An Affiliate During The Recession
It is no secret that the economy is in the toilet, and as a consequence, people are less likely to want to spend any money. This does not mean that there is no money to be made out there as an affiliate. You simply have to tweak your methods to incorporate three things: People are more likely to buy a cheaper product, people are more likely to buy a product if they get something for free as an added incentive to purchase, and it is much easier to get people to do something for free than it is to get them to spend any money.
#1: It is a matter of economics: when people have less money available, they are less willing to splurge on more expensive products. What does this mean for you, as an affiliate marketer? It is best to opt for marketing inexpensive products, say products costing no more than $20, even if your commission ends up only being $7 or $10 per sale.
You're going to be more likely to convert 20 people with a $20 product, and earn $140 and $200, rather than convert 1 person with a $140 or $200 product. The aim is get a large volume of sales rather than just a few, as you can do with the more expensive products.
#2: Offer a free incentive to get people to buy from you. Too often these days we're seeing companies offer less than charging more.Â This is completely antithetical to what is needed to stimulate people to buy.Â As in the first point, sell cheaper products, the secret here is volume.Â Sure, it may cost you a little extra to offer the incentive, but you'll make up for it with increased sales volume.
For example, you could offer a free membership to a partner site, or a free e-book. Neither of these things will necessarily cost you much, if anything, however, both of these things will offer additional value to your customers.
#3: Consider joining CPA networks. CPA networks offer a greater variety of affiliate offers, including those for which you are paid per lead and not just per sale. You don't need to be a rocket scientist to figure out that it is far easier to convince someone to do something that costs them nothing, like inputting their email address or zip code into a form than to convince them to spend money, especially now.
To conclude, by using these three tips, you'll be able to make money as an affiliate even though this recession is still hanging on, with no end in sight.