William Harris is leading content at Sellbrite and is also the Founder & Growth Marketer of Elumynt, LLC., VP of Marketing and Growth for a top 700 online retailer and former head of Marketing for When I Work, a VC backed SaaS company. William is also a contributor to leading publications like The Next Web, Search Engine Journal, Social Media Today, and Sellbrite and a speaker at industry events covering topics such as marketing strategy, search engine optimization, content marketing, digital marketing, social media and personal branding. Follow William on Twitter (@WmHarris101), LinkedIn, and Google+.
The funny part of all this landing page, money making discussion is that the program that currently makes us about 70% of our income is one that I almost passed up promoting because of the low payout. It is a lead generation program that initially paid $8 per lead and we have since had that increased to $10 per lead because of the volume we produce (that is the nice thing about affiliate programs – if you are a proven performer, you will get higher payouts). At first I wondered how much money one could make $8 at a time – boy am I glad I took a chance with this program! So we have one landing page making us around 50-60K per year, $10 at a time. And we have many more landing pages promoting this same offer, they just aren’t performing at the same level – yet.
We can’t stress the importance of this enough. Effective PPC campaigns use keywords that are competitive and popular. Remember, you’ll be shelling out money to put on ads, so your keywords have to be high-intent; meaning, the people using those keywords are the ones most likely to follow through on their action. They need to be specific and targeted, while at the same time allow flexibility.
Fortunately, the answer is no. Most folks – upwards of 95% of Americans – are sales-averse, i.e. they don’t like pitching goods to others AND they don’t like being bombarded with high-pressure sales tactics. However, they are willing to consider offers from people they know, like and trust. This is where you and your subscriber list come in. You might have heard the old saying, "people hate to be sold but they love to buy".
Affiliate marketing has grown quickly since its inception. The e-commerce website, viewed as a marketing toy in the early days of the Internet, became an integrated part of the overall business plan and in some cases grew to a bigger business than the existing offline business. According to one report, the total sales amount generated through affiliate networks in 2006 was £2.16 billion in the United Kingdom alone. The estimates were £1.35 billion in sales in 2005. MarketingSherpa's research team estimated that, in 2006, affiliates worldwide earned US$6.5 billion in bounty and commissions from a variety of sources in retail, personal finance, gaming and gambling, travel, telecom, education, publishing, and forms of lead generation other than contextual advertising programs.
As you can see, there are advantages and disadvantages to both Affiliate Marketing and Dropshipping and there is no right or wrong answer when it comes to deciding what to choose. It really comes down to your personal preference and what you want to achieve. With Dropshipping, the product is key and there are a lot of logistical headaches that I outlined. Affiliate Marketing, can run passively and can generate income for years to come. I may be a little biased.
Even if you’re in a super-tight niche, you probably write blog posts about more than one subtopic in your niche. For example, maybe some of your posts are about deep sea fishing in the Pacific and some are about deep sea fishing in the Atlantic. Or maybe some posts are about knitting with wool and some are about knitting with acrylics. No matter what the topics are, you can offer one lead magnet for each of them. Some marketers have doubled their opt-in rate with this technique.
Most businesses require startup fees as well as a cash flow to finance the products being sold. However, affiliate marketing can be done at a low cost, meaning you can get started quickly and without much hassle. There are no affiliate program fees to worry about and no need to create a product. Beginning this line of work is relatively straightforward.
While that may not sound like much, affiliate marketing can be surprisingly profitable for websites that have large, committed user bases that consistently return. After all, in affiliate marketing, every person you send to a company’s website is another chance to earn a commission. So it’s in your best interest to attract as many visitors to your site as possible so you can turn the biggest profit possible.
In the Affilorama lessons, we cover loads of different ways of getting traffic! Some of these methods are paid, such as PPC (pay-per-click) advertising, and some are free, like SEO (search engine optimization) but take a little more time and effort on your part. You can find more information on both of these traffic methods in "introduction to PPC" and "introduction to SEO."
Firstly, regarding your own benefits, an affiliate email marketing program or virtually any affiliate program should have the potential to generate a stable, or even growing, income stream for you. Even if it is a side income, it should ideally be a decent amount of money that will add to your monthly cash flow and make this venture worth your while.
Third, successful affiliate marketers measure beyond just money. How will you know that you’ve become a successful affiliate marketer? The number cruncher in you may raise your hand and say, “When I make X dollars per month every month for a number of years.” Hard to argue with that, since making money online is a strong motivator. However, why not measure success by the number of lives you touch in a positive fashion by introducing them to your affiliate products? Chances are that the money will follow…