Affiliates are people who promote and sell products for a percentage of a sale. When I coach my clients, I strongly recommend having as a part of their business model.
Affiliate programs are successful because both the person who created the product along with the affiliate can make money. The leverage is enormous.
Let's say you have a product to sell like an eBook. You have an affiliate named Joe who has 500 people on his Facebook fan page. All Joe needs to do is send out an e-mail to his list with the product being sold. When someone from Joe's list buys the product, Joe receives 50% of the sale price. Boom. Too easy.
Joe is happy and so are you. When you run an affiliate programme there are some essential tips that you should follow. Get someone to handle your affiliates for you when it makes sense financially.
For example, if you have 50 affiliates, you do not want to spend all day e-mailing them and make payments. You are better off outsourcing this.
Another tip is to offer a higher commission than your competitors, even if you make a loss initially.
With affiliate marketing, always have a low end information product no matter what business you're in. This serves as the front end, with your higher priced product or service as the back end.
Use your knowledge, top 10 things on a certain subject. This is just for lead generation.
You know you will make a profit on the back end with other content that you have like coaching, DVD series Audios etc. You must think of the big picture. The more you give to affiliates, the hungrier they will be with selling your product. The more sales your affiliates make, the more leads you receive to get the bigger sales and the recurring sales afterwards. Too many people are short sighted unfortunately when it comes to dealing with affiliates.
Automation to your affiliate business is the secret. You need to make sure that your affiliates have all the tools they need to sell. Landing pages, faqs, sales letters, copy, squeeze pages and everything else needed to ensure they succeed.
The number of affiliates you have can be huge but at the end of the day you will have 10 or so affiliates who drive 90% of the new business. Focus on them heavily and join them into Joint Ventures. We will talk about Joint Ventures later on this chapter.
Good software to use to help you manage affiliates include 1 Shopping cart, Infusion soft or Omni start.
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