Affiliate Marketing
Affiliate Marketing. Whether you’ve never heard of it before or you’re just starting out in this lucrative revenue stream online, affiliate marketing is a great source of generating extra sales to your bottom line.
So what is affiliate marketing anyway? First of all, lets say that you have a website that sells a particular product, for example, an eBook on training your dog. Your website currently has targeted traffic going to your website and your visitors are mainly interested in the realm of dog training. Therefore, the more traffic you get to your site, the more sales you will make from selling your eBook.
Let’s say that you sell your eBook for $27 and 10 people purchase your book a day, that’s $270 per day. So far, you have a few options to increase your sales from your website:
- Increase your conversion rate (the sales percentage of the total number of visitors)
- Increase your website traffic.
- Introduce Affiliate Marketing.
When you introduce Affiliate Marketing into your website, you’re really giving someone the opportunity to sell your product for a certain amount of commission. So, lets say that you offer to split a commission of 50% to your Affiliates (people who sell other people’s products). If your affiliate sells your book on their website, they get 50% and you get 50%, for example your eBook at $27, they get $13.50 and you get $13.50.
Those numbers may not make your pants catch on fire but if you look at it from a bigger perspective, lets say that your affiliate partner has a high traffic website that brings in over 500 visitors a day and they sell 20 of your eBooks. So your 10 eBook sales from your website combined with their 20 eBook affiliate sales is a total of $540.00. That’s only with one affiliate. Why not help another affiliate… and another… and another?
Of course, there are always pitfalls, sometimes affiliates can not sell your book because they may lack the marketing skills or traffic generation skills. So affiliate marketing is really depended on the affiliates marketing skills in order for you and them to make a profit. However, the great news is, how much does affiliate marketing cost you? $0
By simply placing a section on your website entitled “Affiliates” that contains your commission rate, links, photos of your product, additional information they may help them sell the product, you’re offering other people the opportunity to make money.
Affiliate Marketing is a great way to make those additional sales to your website and help you move closer to financial freedom.