Successful Affiliate Marketing
In today’s highly competitive world, companies are fighting to get an edge over their competitors in every sphere, especially marketing. Affiliate marketing involves rewarding affiliates or business partners for every new visitor or customer. This is one of the initiatives increasingly used by companies to promote their products and expand their customer base.
However, not every affiliate connected to a company is able to bring in business. In an affiliate marketingsurvey done by MarketingSherpa, 34% of merchants said that 80% of their affiliate sales of signups were driven by not more than five of their business partners. Moreover, according to 23% businessmen, not more than 10 partners contributed to 80% of their total affiliate-generated sales.
Affiliate Marketing: Setting Investment Targets
Even before stepping into an affiliate marketing program, you must be aware of the amount of investment you can make and the absence of substantial returns in the initial few months. While deciding on the investment, take into account only your spare funds. However, you must ensure funds for
- • Decent computers with broadband
- • Educational material
- • Obtaining a domain name or multiple domain names
- • Web hosting
Affiliate Marketing: Setting Time Targets
Leaving your 9-to-5 job the moment you decide to shift into this business would be an irrefutable blunder. Instead, determine the number of hours you can spare from your free time to invest in this business. Divide these hours into two distinct categories:
- • Time to learn: Dedicate this time to reading, researching on your niche topic and learning to use software. This is the time when you can learn various tricks of the game.
- • Time to earn: This time must be utilized in creating and publishing your site, writing and publishing articles, formulating mails and sending them to your mailing list. You would also need to write ads for Google Adwords.
Affiliate Marketing: Setting Profit Goals For A Specific Timeline
Set a realistic target that you can achieve, given your time and investment constraints. If you have decided to dedicate three hours for ‘earn time,’ six days a week; your total ‘earn time’ per week is 72 hours. If you have set yourself a monthly earnings target of $25,000, you will need to earn $25000/72 per hour, or around $347, to hit this target.
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