What is Affiliate Marketing ?


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You're starting a business or you may have one. But you don't have the money to spend on marketing. 

What should you do?

Today we are going to learn what affiliate marketing is and how you can get benefits from it. The coolest part about affiliate marketing is that it's performance based marketing. If someone gives you a lead or a sale, you pay them for that.You pay them on a cost per lead or sale of your products.You determine whatever it is. And you can even determine what you want to pay the marketers. If your product sells for 500 bucks and your margin on it is 250 - for example you're operating at a 50% margin and if you decide to pay someone a $100 for every sale they drive you then you can offer affiliates like I'll pay you a $100 for each sale. And they may decide that they're going to work for you or not using SEO, Pay Per Click, Facebook advertising. Whatever it may be, that's up to them.

How Can You Strengthen Your Business?


That's what affiliate marketing is all about. Now there's a few things that you need to know about affiliate marketing. 

Number One:

It's really hard to recruit affiliates. Where do you look for them right? You can't just go around the web to go find marketers and say "hey, you want to join my affiliate program?
Instead you can find some good Affiliate Networks and let them choose whats good for you.
So when you join these affiliate networks and you talk to them, they'll tell you: 
Hey here's your product and you should price it for CPA.This is what you should pay people every time they drive you a sale." And they'll make sure it's competitive and you're not having a loss. Since the last thing you want to do is be willing to pay someone $10 per sale when it costs them $20. Because if it costs someone $20 to drive you a sale, they're not going to take $10. That means they're going to be losing money. Especially if you're making thousands of dollars. They'll be like 
No You have to offer more. You have to be competitive.
And companies like Click Bank that offer affiliate networks will tell you at what price you should give an offer. There are other ones too, like another site that most people use is JVZoo. JVZoo is also another Affilate Network that you can go to recruit affiliates. In addition to that, you can also go to conferences like Affiliate Summit. Affiliate Summit or Affiliate World are really big affiliate conferences where all these marketers go and they're looking for new offers to promote. So go there and you'll find people who'll be willing to promote your offers and these conferences even teach you how to price your product, what to sell it for, what to give affiliates to sell them etc. 

Number Two:

The second thing you need to do is to continuously optimize your website. If people are driving traffic, but those visitors aren't converting into customers, that means they're either driving irrelevant traffic,but most affiliate marketers are good at what they do. So usually the traffic sources typically qualify it means that your web page isn't converting and your web page not converting is usually the issue. So you want to run surveys. You can use Qualaroo . That's a tool that I love using and you can ask people questions on your landing page such as: "What else would you like to see on this page?”. After getting more than 30 responses, you'll get an understanding of what's wrong and you can fix those things. As you fix those things, you'll notice that your conversions will go up. Another tool that you should use is Crazy Egg and with Crazy Egg you can see where people scroll, what they click on. It'll track the mouse movements of your visitors and that will give you insights on what you need to change so that you can maximize your conversion rate.
So if you do these two things, you can generate traffic through affiliate marketing. 

Conclusion

Affiliate Marketing is one of the best ways to earn by just hiring marketers and is among the best top marketing techniques.
Especially for businesses that don't have a ton of capital. Because you only pay money for sales. And when you're paying out the money for these sales, pay on a Net 30 basis. Because sometimes you'll get refunds or credit card fraud. You don't want to give out payouts for people who you're refunding. So to ensure that you're not getting ripped off by these affiliate marketers, make sure your payouts are Net 30.
If you have any queries feel free to ask in the comment section.
Stay Tuned for more.

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