Affiliate marketing is a win-win two-way benefit for creators of products and the people who wish to promote for them.
I would argue that there is still a lot of work to be done on both sides of the equation but the long term benefits make up for the hard work that must be put in to get marketing strategies up and running. It should not be assumed to be a quicker route to success, but a good strategy to assist your efforts.
So what are the benefits to the marketer?
1. Use someone else’s products
The first and most useful thing is that there is no product to create; all the “manufacture” is one hundred percent done for you. Just select a product to become affiliates to and slot it strategically into your marketing program.
2. It’s free at source
Acquiring a product costs nothing. All you need to do is locate something you think will be a good for your niche, your subscribers, or you buyers, and drop it into an email they’ll receive from you; wrap it up in the context of a balanced review of course.
3. It take the sting out of creating you own products
You will have to plan it into your marketing strategy but it is down to the product owner to supply a good strong set of promotional material that will benefit both of you. Do be diligent and rewrite, re-record or re-figure any promo material you use because A) you will not be the only one using it, B) you need to stamp your own unique perspective on it, and C) it will need tailoring to suit your own client and/or subscriber base. Remember, it is being offered in a baseline, generic format.
4. Your presence is not required
Income while you’re absent – or asleep. The income-generating machine you’re now part of will operate whether you’re online or not. As the Internet is 24/7, so is you business and its affiliate division.
Check your emails for any commissions and keep evolving your message.
5. Market penetration
The speed at which you can get into new niche territories within your niche is sped up thanks to affiliate products, so you don’t have to go deeply into the mechanisms of product-creation or branding exercises. So long as you keep things specific to the market demands within new sub-niches you explore, the products you’re related to will move.
So what are the benefits to the product creator/merchant?
1. Timescale of sales
As a product owner/creator, there are two ways to promote your product; your own strategy, and by recruiting affiliates. For the latter, the idea is obviously to recruit as many affiliates as you can – to get the viral momentum that your products require. In the best possible way, it is the numbers game, and the more you can recruit, the further your business will reach, and in less time.
2. Expanding your business
As with selecting products and the careful vetting process you need to employ, so should you do so with affiliate recruitment too. Places like JVZoo facilitate minimum criteria that those who wish to recruit fro you must fulfill. When someone applies to become one of your affiliates, you will get a message and be able to “vet” the applicant and their sales history. If they don’t meet with the standards you have set, then it’s your call as to whether you recruit them – or not. With companies like Clickbank.com, there is no such criteria, they simply allow anyone to become an affiliate.
To suggest that there is less effort required when you have a band of affiliates promoting for you would be somewhat wide of the truth. It is hard work; you have to supply promotional material – the more the better. Affiliates work to different marketing methods and for maximum promotional effect for your product, you need to cover as many of these as you can, i.e. articles (fro rewriting), audio, video, PPC, emails, social media functions and so on. You also should be available to answer questions from affiliates.
Do not let that put you off though, because there are certainly rich rewards for those who put in the effort.