If you are looking for the best way to make money online, then you should consider what is called ‘affiliate marketing’. The best part of this business is that you don’t need your own products, though eventually at some point of time it pays to have them. You can promote someone else’s products and earn a commission on each sale you make.
The Internet is full of profitable affiliate programs that offer commissions ranging from 5 to 75% depending on the products you choose. Obviously, it makes sense to choose products that give you higher commission rates. For example, there’s a product priced at $100 and it offers you a 30% commission on each sale. There’s another product priced at $10 that offers you a 70% commission. Which would you choose? Would you rather sell ten units of the $100 product and earn $300? Or put in four times the effort to sell more than 42 units of the $10 product to earn the same commission?
Choosing Affiliate Programs
When you started off with the idea of a home based business, no doubt you were impressed by the affiliate marketing idea. But it is important to know exactly how to select the right affiliate programs and the best commission structure. Smart affiliates who are experienced will always look for affiliate programs that offer a two-tiered commission. This is because two tier affiliate programs will earn you an addition commission when you get sub affiliates to sign up. So this means not only do you earn a commission on your own sale, but also from these sub affiliates’ sales. Now, this doesn’t mean that you simply get a lot of people to sign up and sit back hoping that your income will grow. There’s the risk of these sub affiliates doing the same thing and then you would have nothing but affiliates and no sales at all. The tactic might work if you sign up people who are active marketers and have massive lists and traffic to their sites. But it is always better to promote the product, rather than grow the program.
So when you are looking at affiliate marketing as a lucrative home business idea here’s what you need to consider:
- Choose a great product or service that you want to promote
- Find product that offer high rates of commission
- Associate with sites that have a high conversion rate.
There are affiliate programs that will let you earn lifetime commissions meaning that you earn a commission from each sale made by a particular customer no matter what the timeframe.
In order to benefit from affiliate marketing you would also need to follow these steps:
- Identify your niche - when you set up a home based business, you would need to discover what interests you the most, because you will enjoy being associated with that product or service, since you have the passion to promote it enthusiastically. Also, it is important to select a niche that is profitable and can give you continued business. Preferably look for a niche that has a high level of demand and low supply.
- Find products for your niche - a search on the Internet will let you identify what kind of products are in demand for your particular niche. Then comes finding products that can earn you a good commission
- Make an optimized website - this will let you promote the affiliate programs you have signed up for and work on traffic generating strategies that will give you more sales. Your website must preferably offer valuable content that is optimized for the search engines with the right keywords so that your niche market can find you.
- Set up an autoresponder - follow up is the essence of Internet marketing when you want a growing customer base. Autoresponders let you automate your follow up, so that your customers receive the information they need promptly and also save you time
- Choose programs that will offer you a lot of repeat sales.
Affiliate marketing is the most preferred way to earn a large income online and a quick browse over the Internet will prove it. Only some affiliate marketers actually achieve the kind of success that every one else dreams of. This is because they have an automated cash formula that is perfected over time and replicated over and over, allowing them to become millionaires.