Affiliate Marketing – Part 2
Are you guys ready to build an online passive income business?
What You Need?
1. Money: $700-$1200 (You can start even with $300)
2. Website + Hosting
3. Email Auto-Responder (AWeber, MailChamp or another).
4. Affiliate Account (Amazon, ClickBank, SharASale, CJ etc)
5. Content Writing or Content Writer. (You need professionally compelling written contents / Sale copies as you are in selling the business)
6. 12 – 18 Months of regular work, it does not hard believe me but you need dedication. After it, you will be able to make handsome money on daily basis without any work at your end as your sales funnel will do its job best for you on autopilot, that’s why I said you need 7 days work to earn on daily basis for a whole year. (details in next episodes)
Write down your these goals on your diary.
a. How much money would you be happy about earning? (minimum earning)
b. How much would you be pleasant earning? (happy life)
c. How much TIME are you willing to invest to achieve these goals?
What is affiliate marketing?
“A marketing arrangement by which an online retailer pays commission to an external website for traffic or sales generated from its referrals.”
What is not affiliate marketing?
“Creating a website, posting some products on a website, starting ads on facebook and hope for selling a product.”
Actually, you need a sales funnel which drives your traffic to sales.
What are the sales funnel?
There are 5 basic steps of the customer journey.
1. Awareness. Prospect (expected customer/people) don’t know about a product, in first he/she knows about the product that this product exists.
2. Interest. Prospect shows interest and wants to know more about the product/service.
3. Evaluation. Prospect evaluate that will it solve my problem? It’s worth buying to solve my problem?
4. Decision. Prospect decides to go to buying.
5. Sale. Final sale occurred and prospect converts as a customer.
You need a system (Sales Funnel) to create awareness, create interest and drive a prospect to the final decision.
How to start?
1. Research about niches, evaluate and finalize your niche.
2. Research about affiliate networks and find specific products related to your niche. Find popular, high converting products with a suitable commission.
3. Join any Email Auto-Responder i.e. AWeber, MailChimp, IContact, etc. I recommend MailChimp as it has a free version till you cross 2000 subscribers. (There is a better option, will discuss in detail in relevant episodes)
4. Build your website, Create suitable content post – images – videos (there is a lot of data related to the product in your affiliate network, use it wisely, sometimes you found everything in product details i.e pre-written emails, banners, images etc)
5. Build a Landing Page (Pages). A landing page is 1 page website which has only one purpose. In affiliate marketing, we use landing pages for a subscription. Our motto is to get people in our subscription list.
(you work hard, invest money, started ad campaign and traffic come to your website. 99% of people will never found your website again, that why we need to capture this traffic to our mailing list.
6. Start advertising (details in next episodes), collect subscribers, educate them through email series.
7. Close sales
8. rinse and repeat.
1. For newbies, it’s better to start with selling Virtual Products as it gives you a high commission, later on, you can sell Physical Products. Virtual products will pay you minimum 50% commission on sales, sometimes 90%, even you can get 100% of commission on sales, Why product owner give you 100% commission, I shall explain later.
An example: If you sell a camera online priced $1000, you may get a commission of $40-$60 as commission, but selling virtual product worth of $1000 will give you a commission of $500-$900 per sale.
2. What is Virtual Product? Virtual Product is a good that does not have a physical nature, as opposed to a physical good i.e. eBooks, Softwares, Audios/Videos, Photography, and Digital Arts, Documents, Professional services, Online Tickets, etc.
3. Amazon is the world’s top physical products database and affiliate program. And the other hand ClickBank is world’s top Virtual Products base and affiliate program.
Wait for the next post for NICHE RESEARCH.
Ask questions related to this overview.