How to Make the most money with niche markets?
Affiliate marketing and working with niche markets is the way to go today if you are young and eager to make a lot of money. I'm not saying that affiliate marketers never have to work a single day in their lives and just rake in the cash while sitting out by the pool, but there are tremendous perks to this job. Do you hate going to work every day? Commuting, whether by car or mass transit, is an absolute bore. The hours you spend every week commuting are lost hours that you will never get back before you die. So why not choose something better?
The best thing about affiliate marketing is the freedom to work in a relaxing environment. The "office" could be your home desk, the kitchen table or, why not?, a table by the pool. Every day is "casual Friday" and all your tools are concentrated in the computer. No paperwork to shift around from one desk to another. And the earnings are on par with the setting. The more effort you're willing to put in building a maintaining a nice website, the more money will come in every day. If this isn't a good deal, then I don't know what a good deal could be.
Some people think that affiliate marketing is too much work and that splashing some AdSense ads on a page is far easier. It might be so, but how much money can you get out of AdSense? Two or three dollars a day? Come on, that's not money but loose change. Affiliate marketing may be a bit harder than AdSense, but this is where people actually spend money. If you play with the big boys, you could make as much as $175 out of every sale. That's the equivalent of 58.3 days of AdSense at $3 per day you can make in one day.
What many people don't realize is that the global economy is going through a huge spending period. Across the world people are willing to pay good money for all kinds of products and the Internet has made it easier than ever to spend money. eCommerce has made it possible for people to buy things they had never had access to before. Orders pour in and products and services move across countries because people can search the Internet for answers to their problems and are willing to pay for solutions, regardless or where they come from.
It's like a river of money moving across the planet and you can become one of those who help connect the buyers with vendors and cash in commission while never leaving their armchairs. The gap between offer and demand is huge nowadays because there are far more people with money out there than there are people who sell things. The key is to find products that are underrepresented, highly demanded and pay high. Until now affiliate information packages do not address this. Many of the marketing programs out there are about re-selling the program you have just purchased.
List Building ABC
Building your opt-in list gives you endless ways to pre sell; sell, and backend sell for a long time to come. For affiliate marketing you can work your list and build up profits. You will need to prepare the ground to do this, so that you can get maximum returns. Firstly be sure that you have a number of different affiliate programs selling related products. Then purchase resale rights to other related products and services that you know your subscribers will find useful.
You can promote your affiliate programs as primary front end products, in your newsletter. Then build an announcement list for those who like bargains and need more tools and services. You will use your resale purchases to do promotions to this list. You will be surprised at how many people will join this bargain list, and buy things at discount rates (special subscriber rates.) In this way you can combine your affiliate marketing and build up products of your own using your lists. The trick is to make sure these products and affiliate programs are highly targeted for your subscribers.
Recurring or residual income from affiliate products are also good to promote to your lists. Examples of these would be autoresponders and products with monthly subscription fees.
Other good products for creating residual income are vitamins and weight loss products. Customers will take these on a regular basis and will buy the products again and again. More Niches is a free to join affiliate program that offers weight loss products that are ongoing purchases. This is another good way to earn a continuous income.
You can rotate a few different ads for products like this to your list, and build a nice monthly income that will keep on snowballing. Make sure these products are highly targeted for best results.
- Importance of Diversification in affiliate marketing
When making your living with affiliate programs it is best to diversify. There are a few reasons for this. Firstly markets can change leading to a decrease in desire for a product. Companies can collapse, leaving their affiliate without an income. Even your hosting company can suddenly win up and throw your website offline. Search engines like Google can suddenly change the rules, algorithms and bring you ranking down to the bottom of the engine and causing you serious loss of traffic. These are just a few reasons to diversify.
Here are some ways to do this:
Join several good programs - there is safety in numbers. If one of your sponsor's goes out of business you will still have others to earn commissions from.
Penetrate several markets. If one market gets cold you still have others to rely on.
Have more than one domain names hosted on two different companies. Again if one hosting company is down for any reason you will still have back up.
Lastly always use multiple methods of marketing. There are many ways to market and you should be using as many as possible. Marketing trends change and you need to be able to change with them
There are a few ways to implement these changes and have a growing affiliate business when you diversify. Here are a few points:
Build a theme content website. This is a website that will have one central theme. For instance Health and Wellness. Join several affiliate programs that cater to this market. This will allow you to diversify the programs you are in.
You can even carve different niche markets in this large and popular market and build mini sites or different theme websites linking in. This will allow you to penetrate several markets
Having 2 hosting companies will of course prevent any complete downtime.
There are several ways to market and you should explore them all.
When you diversify you will not only expand your business but be able to stay ahead of the competition and ensure your steady and growing income.
Affiliate marketing is one of the best ways to begin your business. It is very cost effective to begin and has great potential for earnings. Affiliate marketing is a great way to start off your business by earning some capital to begin your enterprise. Once you are starting to earn you can develop your business knowing you have a good source of income
Here are some steps to help you to begin:
1. Choosing an affiliate program: You will need to join a few affiliate programs. You can join an affiliate network like Commission Junction or individual companies.
2. Decide which affiliate programs will have products and services that match your current market. Try to target this well, as you will sell more when you pinpoint the right market. Try to choose niche markets for greater profits.
3. You will be given a link to promote. It is wise to disguise this to prevent affiliate hijacking.
4. There are several ways to market your sponsor's product or service.
a. Direct marketing: Advertising on related websites and targeted publications. Pay-Per-Click campaigns like Google Adwords.
b. Passive marketing: submission to search engines
c. Social marketing: MySpace, Utube, Forums and business networks etc. You cannot advertise here, just post and use your email signature file, with your URL.
d. Your newsletter: Offer a free newsletter and build your opt-in list.
Affiliate marketing is the cheapest, and in some ways the easiest way to start your online business. All you need to do is to pre sell your visitors and get them to click through to your sponsor's site. Their sales page does the selling and you collect your commission. Everybody is happy and you can snowball your profits to invest in your business development. In this way you can build your business faster, knowing you have a good income coming in.